Lactic Acid Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Form (Dry and Liquid) and Application (Food & Beverages, Pharmaceuticals, Personal Care, and Others)

Publication Month: Feb 2021 | Report Code: TIPRE00012110 | No. of Pages: 133 | Category: Food and Beverages | Status: Published
Covid

The  lactic acid market was valued at US$ 1,069.84 million in 2019 and it is projected to reach US$ 2,217.88 million by 2027; it is expected to grow at a CAGR of 9.6% from 2020 to 2027.

 

Lactic acid is an organic acid produced during the process of fermentation. It is used in various industries including food & beverages, pharmaceuticals, personal care, and biodegradable polymers. The multi-functionalities of lactic acid render its use in various industries. In the food & beverages industry, lactic acid is used as a preservative, curing agent, and flavoring agent. Surging global demand for processed food is boosting the application of lactic acid in the food industry. In meat, poultry, and seafood products, it is majorly used as a decontaminant. In the personal care industry, lactic acid is mainly used in anti-ageing and skin lightening products as it treats hyperpigmentation and age spots.

 

In 2019, North America was the largest market for lactic acid. The demand for lactic acid from food & beverages sector across the region has witnessed consistent growth, due to which the lactic acid market is expected to flourish during the forecast period. With the rising trend of confectionery products, the consumption of lactic acid is increasing at a rapid pace, particularly in the US and Canada. Further, natural lactic acid is the most in-demand form of lactic acid in the market that has further led to rising demand for lactic acid in the North America market. Increased use of lactic acid in a variety of end-use applications and a high level of customer awareness within the US are also driving the demand for lactic acid in the region.

 

Coronavirus outbreak first began in Wuhan (China) in December 2019, and since then, it has spread across the globe. As of February 2021, the US, India, Brazil, Russia, the UK, France, Spain, Italy, Turkey, Germany, Colombia, and Argentina are some of the worst affected countries in terms of confirmed cases and reported deaths. According to the latest WHO figures, there are 104,370,550 confirmed cases and 2,271,180 total deaths globally. The coronavirus outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The food & beverages industry is one of the major industries suffering serious disruptions, such as supply chain breaks and production facility shutdowns, because of this outbreak. The shutdown of various plants and factories in leading regions, such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa, has affected the global supply chain and negatively affected the manufacturing, delivery schedules, and sales of various goods. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the food & beverages industry in a negative manner and thus act as restraining factor for the growth of various markets related to this industry in the coming months.

 

Global Lactic Acid Market

Global Lactic Acid Market

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Market Insights


Multi-Functionalities of Lactic Acid

Lactic acid holds multiple functionalities as it is used as a catalyst, food emulsifier, and substitute for toxic chemicals and plastics. Lactic acid plays an indispensable role as a catalyst in the processing of various industrial products. The use of lactic acid as a substitute for toxic chemicals and plastics, especially in food & beverages and pharmaceuticals, is bolstering the market growth. Lactic acid is usually preferred over synthetic chemicals in the food & beverages sector, as the lactic acid  alter the flavor and texture of products while enhancing their shelf life. Lactic acid is used to produce cheese flavors in the dairy industry. Furthermore, in the brewing industry, lactic acid promotes starch conversion in beer, hence, increasing the yield. In the baking industry, lactic acid helps control the dough's acidity and enhances the shelf life of baked products. Additionally, lactic acid is also used to produce emulsifiers, such as calcium and sodium stearoyl lactylates, which function as dough conditioners. Hence, the lactic acid's multi-functionality is the prime factor anticipated to drive the lactic acid market during the forecast period.

 

Form Insights

Based on form, the lactic acid market is segmented into dry and liquid. The dry segment led the lactic acid market with the highest market share in 2019. The lactic acid powder is a natural L-lactic acid powder formed by the fermentation of glucose. It is a mixture of lactic acid and L-calcium lactate. It is a white granule or powder of moderate and pure acidity, soluble in hot water and delicacy. It is also used as a food or feed additive; it can enhance the taste of food and prolong its shelf life. It is commonly used in frozen food, pasta, rice, pastry, feed, and other industries as a food flavor enhancer. Its excellent pH value control and bacteriostasis capability would effectively inhibit the growth of microorganisms and prolong the shelf life of food. For instance, Mezzoni Foods produces dry lactic acid powder, which is formed by fermentation of lactic acid with non-GMO ingredients. The white powder is available in 25 lb polyethylene lined paper sacks.

 

Application Insights

Based on application, the lactic acid market is segmented into food & beverages, pharmaceuticals, personal care, and others. The food & beverages segment led the lactic acid market with the highest market share in 2019. Lactic acid is used in a wide variety of food industries, such as baking products, beverages, fermented meat, confectionery, dairy products, salads, dressings, and ready-to-eat meals. Moreover, in the food & beverage industry, lactic acid is preferred over synthetic chemicals because lactic acid change the taste, texture, or characteristics of products to improve their shelf life. In the dairy industry, lactic acids are used to coagulate milk and create cheese flavors. Whereas in the brewing industry, lactic acid increases the conversion of starch in beer, thus increasing the yield. In the baking industry, lactic acid helps regulate the acidity of the dough and increase the shelf life of the baked goods. Further, lactic acid fermentation plays an important role in the food & beverages industry. The food is fermented for the purpose of preservation. Lactic acid fermentation also prevents the production of undesired bacteria and moisture. Lactic acid is used as an emulsifier in the manufacture of bakery products. Thus, all these factors are expected to increase the lactic acid market growth in the food & beverages industry.

 

 

Global Lactic Acid Market, by Form – 2019 and 2027

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Strategic Insights

Key market players include Corbion; Cargill Inc.; Foodchem International Corporation; Galactic; Henan Xinghan Biotechnology; Musashino Chemical Laboratory, Ltd.; Shandong Baisheng Biotechnology Co., Ltd.; Jungbunzlauer Suisse AG; Henan Jindan Lactic Acid Technology Co., Ltd.; and Vigon International, Inc. Major players in the lactic acid market are focused on strategies, such as mergers and acquisitions and product launches, to increase the geographical presence and consumer base globally.  

 

Report Spotlights

  • Progressive industry trends in the global lactic acid market to help players develop effective long-term strategies
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the global lactic acid market from 2017 to 2027
  • Estimation of the demand for lactic acid across various industries
  • PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
  • Recent developments to understand the competitive market scenario and the demand for lactic acid   
  • Market trends and outlook coupled with factors driving and restraining the growth of the lactic acid market
  • Decision-making process by understanding strategies that underpin commercial interest with regard to global lactic acid market growth
  • Lactic acid market size at various nodes of market
  • Detailed overview and segmentation of the global lactic acid market as well as its dynamics in the industry
  • Lactic acid market size in various regions with promising growth opportunities

Global Lactic Acid Market, by Form

  • Dry
  • Liquid

Global Lactic Acid Market, by Application

  • Food & Beverages
  • Pharmaceuticals
  • Personal Care
  • Others

Company Profiles

  • Corbion
  • Cargill Inc.
  • Foodchem International Corporation
  • Galactic
  • Henan Xinghan Biotechnology
  • Musashino Chemical Laboratory, Ltd.
  • Shandong Baisheng Biotechnology Co., Ltd.
  • Jungbunzlauer Suisse AG
  • Henan Jindan Lactic Acid Technology Co., Ltd.
  • Vigon International, Inc.

1.             Introduction. 16

1.1       Study Scope. 16

1.2       The Insight Partners Research Report Guidance. 16

1.3       Market Segmentation. 17

2.             Key Takeaways. 19

3.             Research Methodology. 23

3.1       Scope of the Study. 23

3.2       Research Methodology. 23

3.2.1        Data Collection: 24

3.2.2        Primary Interviews: 24

3.2.3        Hypothesis formulation: 24

3.2.4        Macro-economic factor analysis: 24

3.2.5        Developing base number: 25

3.2.6        Data Triangulation: 25

3.2.7        Country level data: 25

4.             Global Lactic Acid Market Landscape. 26

4.1       Market Overview.. 26

4.2       PEST Analysis. 27

4.2.1        North America. 27

4.2.2        Europe. 27

4.2.3        APAC.. 28

4.2.4        MEA. 28

4.2.5        SAM... 29

4.3       Expert Opinion. 29

4.4       List of Suppliers. 30

5.             Lactic Acid Market – Key Market Dynamics. 31

5.1       Market Drivers. 31

5.1.1        Widening Application Scope. 31

5.1.2        Multi-functionalities of Lactic Acid. 31

5.2       Market Restraint 32

5.2.1        Fluctuating Raw Material Prices. 32

5.3       Market Opportunities. 32

5.3.1        Increasing Demand for Biodegradable Polymers. 32

5.4       Future Trends. 32

5.4.1        Innovations and Technology Advancement 32

5.5       Impact Analysis. 33

6.             Lactic Acid – Global Market Analysis. 34

6.1       Lactic Acid Market Overview.. 34

6.2       Lactic Acid Market –Revenue And Forecast To 2027 (US$ Billion) 36

6.3       Competitive Positioning – Key Market Players. 37

7.             Lactic Acid Market Analysis – By Form.. 38

7.1       Overview.. 38

7.2       Lactic Acid Market, By Form (2019 and 2027) 38

7.3       Dry. 39

7.3.1        Overview.. 39

7.3.2        Dry: Lactic Acid Market – Revenue and Forecast to 2027 (US$ Mn) 39

7.4       Liquid. 40

7.4.1        Overview.. 40

7.4.2        Liquid: Lactic Acid Market – Revenue and Forecast to 2027 (US$ Mn) 40

8.             Lactic Acid Market Analysis – By Application. 41

8.1       Overview.. 41

8.2       Lactic Acid Market, By Application (2019 and 2027) 41

8.3       Food and Beverages. 42

8.3.1        Overview.. 42

8.3.2        Food and Beverages : Lactic Acid Market – Revenue and Forecast to 2027 (US$ Mn) 42

8.4       Pharmaceuticals. 43

8.4.1        Overview.. 43

8.4.2        Pharmaceuticals : Lactic Acid Market – Revenue and Forecast to 2027 (US$ Mn) 43

8.5       Personal Care. 44

8.5.1        Personal Care : Lactic Acid Market – Revenue and Forecast to 2027 (US$ Mn) 44

8.6       Others. 45

8.6.1        Others: Lactic Acid Market – Revenue and Forecast to 2027 (US$ Mn) 45

9.             Lactic Acid Market – Geographic Analysis. 46

9.1       Overview.. 46

9.2       North America: Lactic Acid Market 47

9.2.1        North America: Lactic Acid Market – Revenue and Forecast to 2027 (US$ Million) 47

9.2.2        North America: Lactic Acid Market, by Form... 48

9.2.3        North America: Lactic Acid Market, by Application. 49

9.2.4        North America: Lactic Acid Market, by Key Country. 50

9.2.4.1      US: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 50

9.2.4.1.1       US: Lactic Acid Market, by Form... 51

9.2.4.1.2       US: Lactic Acid Market, by Application. 51

9.2.4.2      Canada: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 52

9.2.4.2.1       Canada: Lactic Acid Market, by Form... 52

9.2.4.2.2       Canada: Lactic Acid Market, by Application. 53

9.2.4.3      Mexico: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 54

9.2.4.3.1       Mexico: Lactic Acid Market, by Form... 54

9.2.4.3.2       Mexico: Lactic Acid Market, by Application. 55

9.3       Europe: Lactic Acid Market 56

9.3.1        Europe: Lactic Acid Market – Revenue and Forecast to 2027 (US$ Million) 56

9.3.2        Europe: Lactic Acid Market, by Form... 57

9.3.3        Europe: Lactic Acid Market, by Application. 58

9.3.4        Europe: Lactic Acid Market, by Key Country. 59

9.3.4.1      Germany: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 59

9.3.4.1.1       Germany: Lactic Acid Market, by Form... 60

9.3.4.1.2       Germany: Lactic Acid Market, by Application. 60

9.3.4.2      France: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 61

9.3.4.2.1       France: Lactic Acid Market, by Form... 61

9.3.4.2.2       France: Lactic Acid Market, by Application. 62

9.3.4.3      Italy: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 63

9.3.4.3.1       Italy: Lactic Acid Market, by Form... 63

9.3.4.3.2       Italy: Lactic Acid Market, by Application. 64

9.3.4.4      UK: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 65

9.3.4.4.1       UK: Lactic Acid Market, by Form... 65

9.3.4.4.2       UK: Lactic Acid Market, by Application. 66

9.3.4.5      Russia: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 67

9.3.4.5.1       Russia: Lactic Acid Market, by Form... 67

9.3.4.5.2       Russia: Lactic Acid Market, by Application. 68

9.3.4.6      Rest of Europe: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 69

9.3.4.6.1       Rest of Europe: Lactic Acid Market, by Form... 69

9.3.4.6.2       Rest of Europe: Lactic Acid Market, by Application. 70

9.4       APAC: Lactic Acid Market 71

9.4.1        APAC: Lactic Acid Market – Revenue and Forecast to 2027 (US$ Million) 71

9.4.2        APAC: Lactic Acid Market, by Form... 72

9.4.3        APAC: Lactic Acid Market, by Application. 73

9.4.4        APAC: Lactic Acid Market, by Key Country. 74

9.4.4.1      Australia: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 74

9.4.4.1.1       Australia: Lactic Acid Market, by Form... 75

9.4.4.1.2       Australia: Lactic Acid Market, by Application. 75

9.4.4.2      China: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 76

9.4.4.2.1       China: Lactic Acid Market, by Form... 77

9.4.4.2.2       China: Lactic Acid Market, by Application. 77

9.4.4.3      India: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 78

9.4.4.3.1       India: Lactic Acid Market, by Form... 79

9.4.4.3.2       India: Lactic Acid Market, by Application. 79

9.4.4.4      Japan: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 80

9.4.4.4.1       Japan: Lactic Acid Market, by Form... 80

9.4.4.4.2       Japan: Lactic Acid Market, by Application. 81

9.4.4.5      South Korea: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 82

9.4.4.5.1       South Korea: Lactic Acid Market, by Form... 82

9.4.4.5.2       South Korea: Lactic Acid Market, by Application. 83

9.4.4.6      Rest of APAC: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 84

9.4.4.6.1       Rest of APAC: Lactic Acid Market, by Form... 84

9.4.4.6.2       Rest of APAC: Lactic Acid Market, by Application. 85

9.5       MEA: Lactic Acid Market 86

9.5.1        MEA: Lactic Acid Market – Revenue and Forecast to 2027 (US$ Million) 86

9.5.2        MEA: Lactic Acid Market, by Form... 87

9.5.3        MEA: Lactic Acid Market, by Application. 88

9.5.4        MEA: Lactic Acid Market, by Key Country. 89

9.5.4.1      South Africa: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 89

9.5.4.1.1       South Africa: Lactic Acid Market, by Form... 90

9.5.4.1.2       South Africa: Lactic Acid Market, by Application. 90

9.5.4.2      Saudi Arabia: Lactic Acid Market – Revenue and Forecast to 2027 (US$ Million) 91

9.5.4.2.1       Saudi Arabia: Lactic Acid Market, by Form... 91

9.5.4.2.2       Saudi Arabia: Lactic Acid Market, by Application. 92

9.5.4.3      UAE: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 93

9.5.4.3.1       UAE: Lactic Acid Market, by Application. 94

9.5.4.4      Rest of MEA: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 95

9.5.4.4.1       Rest of MEA: Lactic Acid Market, by Form... 95

9.5.4.4.2       Rest of MEA: Lactic Acid Market, by Application. 96

9.6       SAM: Lactic Acid Market 97

9.6.1        SAM: Lactic Acid Market – Revenue and Forecast to 2027 (US$ Million) 97

9.6.2        SAM: Lactic Acid Market, by Form... 98

9.6.3        SAM: Lactic Acid Market, by Application. 99

9.6.4        SAM: Lactic Acid Market, by Key Country. 100

9.6.4.1      Brazil: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 100

9.6.4.1.1       Brazil: Lactic Acid Market, by Form... 101

9.6.4.1.2       Brazil: Lactic Acid Market, by Application. 101

9.6.4.2      Argentina: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 102

9.6.4.2.1       Argentina: Lactic Acid Market, by Form... 102

9.6.4.2.2       Argentina: Lactic Acid Market, by Application. 103

9.6.4.3      Rest of SAM: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 104

9.6.4.3.1       Rest of SAM: Lactic Acid Market, by Form... 104

9.6.4.3.2       Rest of SAM: Lactic Acid Market, by Application. 105

10.          Overview- Impact of Coronavirus Outbreak. 106

10.1    Overview.. 106

10.2    North America: Impact Assessment of COVID-19 Pandemic. 106

10.3    Europe: Impact Assessment of COVID-19 Pandemic. 107

10.4    Asia-Pacific: Impact Assessment of COVID-19 Pandemic. 108

10.5    Middle East and Africa: Impact Assessment of COVID-19 Pandemic. 109

10.6    South America: Impact Assessment of COVID-19 Pandemic. 110

11.          Key Company Profiles. 111

11.1    Corbion. 111

11.1.1     Key Facts. 111

11.1.2     Business Description. 111

11.1.3     Products and Services. 111

11.1.4     Financial Overview.. 112

11.1.5     SWOT Analysis. 112

11.1.6     Key Developments. 113

11.2    Cargill Inc. 114

11.2.1     Key Facts. 114

11.2.2     Business Description. 114

11.2.3     Products and Services. 114

11.2.4     Financial Overview.. 115

11.2.5     SWOT Analysis. 115

11.2.6     Key Developments. 115

11.3    Foodchem International Corporation. 116

11.3.1     Key Facts. 116

11.3.2     Business Description. 116

11.3.3     Products and Services. 116

11.3.4     Financial Overview.. 116

11.3.5     SWOT Analysis. 117

11.4    Galactic. 118

11.4.1     Key Facts. 118

11.4.2     Business Description. 118

11.4.3     Products and Services. 118

11.4.4     Financial Overview.. 118

11.4.5     SWOT Analysis. 119

11.5    Henan Xinghan Biotechnology. 120

11.5.1     Key Facts. 120

11.5.2     Business Description. 120

11.5.3     Products and Services. 120

11.5.4     Financial Overview.. 120

11.5.5     SWOT Analysis. 121

11.6    Jungbunzlauer Suisse AG.. 122

11.6.1     Key Facts. 122

11.6.2     Business Description. 122

11.6.3     Products and Services. 122

11.6.4     Financial Overview.. 122

11.6.5     SWOT Analysis. 123

11.7    Henan Jindan Lactic Acid Technology Co., Ltd. 124

11.7.1     Key Facts. 124

11.7.2     Business Description. 124

11.7.3     Products and Services. 124

11.7.4     Financial Overview.. 124

11.7.5     SWOT Analysis. 125

11.8    Musashino Chemical Laboratory, Ltd. 126

11.8.1     Key Facts. 126

11.8.2     Business Description. 126

11.8.3     Products and Services. 126

11.8.4     Financial Overview.. 126

11.8.5     SWOT Analysis. 127

11.9    Shandong Baisheng Biotechnology Co., Ltd. 128

11.9.1     Key Facts. 128

11.9.2     Business Description. 128

11.9.3     Products and Services. 128

11.9.4     Financial Overview.. 128

11.9.5     SWOT Analysis. 129

11.10 Vigon International, Inc. 130

11.10.1   Key Facts. 130

11.10.2   Business Description. 130

11.10.3   Products and Services. 130

11.10.4   Financial Overview.. 130

11.10.5   SWOT Analysis. 131

12.          Appendix. 132

12.1    About The Insight Partners. 132

12.2    Word Index. 132


LIST OF TABLES

Table 1.             List of Lactic Acid Suppliers. 30

Table 2.             Lactic Acid Market –Revenue And Forecast To 2027 (US$ Million) 36

Table 3.             North America Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 48

Table 4.             North America Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 49

Table 5.             US Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 51

Table 6.             US Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 51

Table 7.             Canada Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 52

Table 8.             Canada Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 53

Table 9.             Mexico Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 54

Table 10.          Mexico Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 55

Table 11.          Europe Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 57

Table 12.          Europe Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 58

Table 13.          Germany Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 60

Table 14.          Germany Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 60

Table 15.          France Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 61

Table 16.          France Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 62

Table 17.          Italy Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 63

Table 18.          Italy Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 64

Table 19.          UK Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 65

Table 20.          UK Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 66

Table 21.          Russia Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 67

Table 22.          Russia Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 68

Table 23.          Rest of Europe Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 69

Table 24.          Rest of Europe Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 70

Table 25.          Asia Pacific Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 72

Table 26.          Asia Pacific Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 73

Table 27.          Australia Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 75

Table 28.          Australia Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 75

Table 29.          China Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 77

Table 30.          China Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 77

Table 31.          India Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 79

Table 32.          India Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 79

Table 33.          Japan Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 80

Table 34.          Japan Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 81

Table 35.          South Korea Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 82

Table 36.          South Korea Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 83

Table 37.          Rest of APAC Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 84

Table 38.          Rest of APAC Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 85

Table 39.          MEA Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 87

Table 40.          MEA Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 88

Table 41.          South Africa Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 90

Table 42.          South Africa Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 90

Table 43.          Saudi Arabia Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 91

Table 44.          Saudi Arabia Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 92

Table 45.          UAE Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 93

Table 46.          UAE Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 94

Table 47.          Rest of MEA Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 95

Table 48.          Rest of MEA Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 96

Table 49.          SAM Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 98

Table 50.          SAM Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 99

Table 51.          Brazil Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 101

Table 52.          Brazil Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 101

Table 53.          Argentina Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 102

Table 54.          Argentina Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 103

Table 55.          Rest of SAM Lactic Acid Market, by Form – Revenue and Forecast to 2027 (USD Million) 104

Table 56.          Rest of SAM Lactic Acid Market, by Application – Revenue and Forecast to 2027 (USD Million) 105

Table 57.          List of Abbreviation. 132

 

LIST OF FIGURES

Figure 1.           Global Lactic Acid Market Segmentation. 17

Figure 2.           Lactic Acid Market Segmentation – By Geography. 18

Figure 3.           Global Lactic Acid Market Overview.. 19

Figure 4.           Food & Beverages Segment Held Largest Share Of Global Lactic Acid Market 20

Figure 5.           North America Region Held Largest Share Of Global Lactic Acid Market 21

Figure 6.           Global Lactic Acid Market, Industry Landscape. 22

Figure 7.           North America: PEST Analysis. 27

Figure 8.           Europe: PEST Analysis. 27

Figure 9.           APAC: PEST Analysis. 28

Figure 10.        MEA: PEST Analysis. 28

Figure 11.        SAM: PEST Analysis. 29

Figure 12.        Expert Opinion. 29

Figure 13.        Global Lactic Acid Market Impact Analysis Of Drivers And Restraints. 33

Figure 14.        Geographic Overview Of Lactic Acid Market 35

Figure 15.        Global: Lactic Acid Market – Revenue And Forecast To 2027 (US$ Million) 36

Figure 16.        Lactic Acid Market Revenue Share, By Form (2019 and 2027) 38

Figure 17.        Dry: Lactic Acid Market – Revenue And Forecast To 2027 (US$ Mn) 39

Figure 18.        Liquid: Lactic Acid Market – Revenue And Forecast To 2027 (US$ Mn) 40

Figure 19.        Lactic Acid Market Revenue Share, By Application (2019 and 2027) 41

Figure 20.        Food and Beverages : Lactic Acid Market – Revenue And Forecast To 2027 (US$ Mn) 42

Figure 21.        Pharmaceuticals : Lactic Acid Market – Revenue And Forecast To 2027 (US$ Mn) 43

Figure 22.        Personal Care : Lactic Acid Market – Revenue And Forecast To 2027 (US$ Mn) 44

Figure 23.        Others: Lactic Acid Market – Revenue And Forecast To 2027 (US$ Mn) 45

Figure 24.        Global Lactic Acid Market Revenue Share, by Region (2019 and 2027) 46

Figure 25.        North America: Lactic Acid Market – Revenue and Forecast to 2027 (US$ Million) 47

Figure 26.        North America: Lactic Acid Market Revenue Share, by Form (2019 and 2027) 48

Figure 27.        North America: Lactic Acid Market Revenue Share, by Application (2019 and 2027) 49

Figure 28.        North America: Lactic Acid Market Revenue Share, by Key Country (2019 and 2027) 50

Figure 29.        US: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 50

Figure 30.        Canada: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 52

Figure 31.        Mexico: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 54

Figure 32.        Europe: Lactic Acid Market – Revenue and Forecast to 2027 (US$ Million) 56

Figure 33.        Europe: Lactic Acid Market Revenue Share, by Form (2019 and 2027) 57

Figure 34.        Europe: Lactic Acid Market Revenue Share, by Application (2019 and 2027) 58

Figure 35.        Europe: Lactic Acid Market Revenue Share, by Key Country (2019 and 2027) 59

Figure 36.        Germany: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 59

Figure 37.        France: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 61

Figure 38.        Italy: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 63

Figure 39.        UK: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 65

Figure 40.        Russia: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 67

Figure 41.        Rest of Europe: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 69

Figure 42.        APAC: Lactic Acid Market – Revenue and Forecast to 2027 (US$ Million) 71

Figure 43.        APAC: Lactic Acid Market Revenue Share, by Form (2019 and 2027) 72

Figure 44.        APAC: Lactic Acid Market Revenue Share, by Application (2019 and 2027) 73

Figure 45.        APAC: Lactic Acid Market Revenue Share, by Key Country (2019 and 2027) 74

Figure 46.        Australia: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 74

Figure 47.        China: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 76

Figure 48.        India: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 78

Figure 49.        Japan: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 80

Figure 50.        South Korea: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 82

Figure 51.        Rest of APAC: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 84

Figure 52.        MEA: Lactic Acid Market – Revenue and Forecast to 2027 (US$ Million) 86

Figure 53.        MEA: Lactic Acid Market Revenue Share, by Form (2019 and 2027) 87

Figure 54.        MEA: Lactic Acid Market Revenue Share, by Application (2019 and 2027) 88

Figure 55.        MEA: Lactic Acid Market Revenue Share, by Key Country (2019 and 2027) 89

Figure 56.        South Africa: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 89

Figure 57.        Saudi Arabia: Lactic Acid Market – Revenue and Forecast to 2027 (US$ Million) 91

Figure 58.        UAE: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 93

Figure 59.        Rest of MEA: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 95

Figure 60.        SAM: Lactic Acid Market – Revenue and Forecast to 2027 (US$ Million) 97

Figure 61.        SAM: Lactic Acid Market Revenue Share, by Form (2019 and 2027) 98

Figure 62.        SAM: Lactic Acid Market Revenue Share, by Application (2019 and 2027) 99

Figure 63.        SAM: Lactic Acid Market Revenue Share, by Key Country (2019 and 2027) 100

Figure 64.        Brazil: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 100

Figure 65.        Argentina: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 102

Figure 66.        Rest of SAM: Lactic Acid Market –Revenue and Forecast to 2027 (US$ Million) 104

Figure 67.        Impact of COVID-19 Pandemic in North American Country Markets. 106

Figure 68.        Impact of COVID-19 Pandemic in Europe Country Markets. 107

Figure 69.        Impact of COVID-19 Pandemic in Asia Pacific Country Markets. 108

Figure 70.        Impact of COVID-19 Pandemic in Middle East and Africa Country Markets. 109

Figure 71.        Impact of COVID-19 Pandemic in South America Country Markets. 110

 

 

The List of Companies - Lactic Acid Market

  1. Corbion
  2. Cargill Inc .
  3. Foodchem International Corporation
  4. Galactic
  5. Henan Xinghan Biotechnology
  6. Musashino Chemical Laboratory,Ltd.
  7. Shandong Baisheng Biotechnology Co., Ltd.
  8. Jungbunzlauer Suisse AG
  9. Henan Jindan Lactic Acid Technology Co., Ltd.
  10. Vigon International, Inc.
  • Highlights key business priorities in order to assist companies to realign their business strategies.

  • The key findings and recommendations highlight crucial progressive industry trends in the global lactic acid market, thereby allowing players to develop effective long term strategies.

  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

  • Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.

  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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Frequently Asked Questions

The major players operating in the global lactic acid market are Corbion, Cargill Inc., Foodchem International Corporation, Galactic, Henan Xinghan Biotechnology, Musashino Chemical Laboratory, Ltd., Shandong Baisheng Biotechnology Co., Ltd., Jungbunzlauer Suisse AG, Henan Jindan Lactic Acid Technology Co., Ltd., and Vigon International, Inc., and many others.

In 2019, the lactic acid market was predominant by North America at the global level. The primary factor driving the growth of the lactic acid market is the increasing application of lactic acid in food & beverages, personal care, industrial, polylactic acid, and others. Moreover, the high dispensable income of consumers and increasing consumer awareness regarding bio-based products has also accelerated the demand for lactic acid. With the rising trend of confectionery products, the consumption of lactic acid is increasing at a rapid pace, particularly in the US and Canada. Further, natural lactic acid is the most in-demand form of lactic acid on the market that has further led to rising demand for lactic acid in the North America market.

Among the four segments of function, food & beverages segment has led the market in 2019. Lactic acid is used in a wide variety of food industries, such as baking products, beverages, fermented meat, confectionery, dairy products, salads, dressings, and ready-to-eat meals. Moreover, in the food & beverage industry, lactic acid is preferred over synthetic chemicals because they change the taste, texture, or characteristics of products to improve their shelf life. In the dairy industry, lactic acids are used to coagulate milk and create cheese flavors. Whereas in the brewing industry, lactic acid increases the conversion of starch in beer, thus increasing the yield. In the baking industry, lactic acid helps regulate the acidity of the dough and increases the shelf life of the baked goods.

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