Global Lactic Acid Market: Key Highlights
Global Lactic Acid Market: Key Market Dynamics
Global Lactic Acid Market: Regional Overview
The lactic acid market in Asia-Pacific is expected to witness significant growth owing to booming food & beverage industry. The growth of the food & beverage industry is attributed to the growing populace in the China and India, rise in per capita income, shift in eating patterns, busier lifestyle, rising working population, and others. With the rising demand for processed food in the region, the demand for lactic acid is likely to increase in the years to follow.
In North America, the lactic acid market is estimated to witness a strong growth in the forecast period owing to growing healthcare sector. Lactic acid is vital ingredient in the IV Fluids, drug administration, and in treatment for various dermatological issues. Rise in the elderly population increases demand for elderly care. Increasing prevalence of the various dermatological diseases in the region with increasing demand for more effective treatment is pushing the market demand higher. As per the American Academy of Dermatology, around 16 million Americans are infected with Roscea while more than 7.5 million are suffering from psoriasis.
Global Lactic Acid Market: Key Players Overview
Corbion is a food and biochemical company headquartered in the Netherlands. It operates globally through its diversified product range. The company provides acid and acid derivatives along with the emulsifiers, functional enzymes, minerals, vitamins, algae ingredients, etc. Corbion offers PURAC product range dedicated to the natural and synthetic lactic acid used as pH regulator, dialysis solution, moisturizing agent, preservative for food and medical grade application. In September 2019, the company entered in partnership with the Brenntag, a German company for delivering PURAC and VERDAD product lines in Europe Middle East and Africa (EMEA).
With headquarters in the United States, Natureworks operates globally through manufacturing and supplying biopolymers. The company engages through offering PLA through the brand name Ingeo along with other thermoplastic resins. The company is jointly owned by Cargill and PTT Global Chemical. In 2017, the company signed a contract to license the technology used for D-lactic acid. With this, the company plans to produce the D-lactic acid through the low cost route.
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