LACTIC ACID MARKET: Summary
The Global Lactic Acid Market is estimated to grow at a CAGR of over 14.5% and reach USD 9.5 Billion by end of 2027.
Lactic acid alternatively termed as milk acid or 2-hydroxypropanoic acid, is an organic acid naturally found in various dairy products. It can also be produced by chemical synthesis or bacterial fermentation. Lactic acid has also gained popularity owing to its use in production of polylactic acid, a biodegradable polymer used across various end-use industries. Lactic acid is widely used in the food & beverage, chemical, cosmetics, and pharmaceutical industries owing to its superior properties such as curing agent, preservative, acidity regulator, pH regulator, disinfectant, moisturizer, etc.
LACTIC ACID MARKET: Drivers & CHALLENGES
- Growing Demand from Food & Beverage Industry
Lactic acid is gaining higher importance in the food & beverage industry owing to its application as a curing agent, food preservative, and pH regulator. With the growing population worldwide, the demand for food & beverages is escalating. The changing consumer preference towards preserved and processed ready to eat/cook food products owing to busier lifestyle with higher spending on packaged food products is estimated to escalate the demand for lactic acid.
- Increasing Demand for Bioplastics
Polylactic acid (PLA) is a biodegradable thermoplastic produced from the condensation of lactic acid obtained from the renewable source with the help of the Lactic Acid Bacteria (LAB). PLA is gaining higher attention across the globe owing to rise in environmental consciousness. PLA addresses the issues regarding the solid waste disposal and also minimizes the dependency on the petroleum-based raw materials, which is the prominent factor responsible for its rising demand. Due to rising demand for bioplastics, which is further pushed by the favorable governmental support, increases the overall demand for PLA. This, in turn, fuels the demand for lactic acid
- Higher Down Streaming Cost
The growth of the lactic acid market is mainly hampered by the higher cost associated with the down streaming process of lactic acid. Separation and purification of the lactic acid from the impurities after the fermentation accounts for half of the total lactic acid operating and capital cost. In addition to this, it is very difficult and time consuming to obtain high purity lactic acid owing to the higher affinity towards water with energy intensive recovery. Also, precipitation, conventional ﬁltration, acidiﬁcation, carbon adsorption is some of the downstream treatments involved for obtaining lactic acid, which hamper the output quality and increases the lactic acid prices.
Lactic acid market: Key segments
- By Synthesis, the market is segmented into: Chemical Synthesis and Microbial Fermentation
- By Application, the market is segmented into: Bioplastic, Food & Beverage, Cosmetics, Pharmaceuticals, Chemicals, Textile and Others
- By Geography, the market is segmented into: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
Lactic acid MARKET: Report SCOPE
The report on the lactic acid market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2027 (2020 estimated year, forecasted up to 2027)
Value (USD Million) Volume (Kiloton)
Synthesis and Application
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa
KEY Companies Covered
- Corbion (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- BASF SE
- NatureWorks LLC
- Henan Jindan Lactic Acid Technology Co., Ltd.
- Synbra Technology bv
- Danimer Scientific
- Other Key Companies
Lactic acid MARKET: report segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Lactic Acid Market, by Synthesis
- Chemical Synthesis
- Microbial Fermentation
Lactic Acid Market, by Application
- Food & Beverage
Lactic Acid Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions answered by the report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Lactic Acid Market Providers
- Lactic Acid Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Lactic Acid Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE LACTIC ACID MARKET STUDY