Lactic Acid Market Insights:
Lactic Acid Market size was valued at USD 3 Billion in 2021, registering a CAGR of 7.9% during the forecast period (2022-2030), and the market is projected to be worth USD 5.95 Billion by 2030.
Lactic acid is a well-known organic acid with a wide variety of industrial uses. This material is widely used in the food, chemical, pharmaceutical, and cosmetics industries. This product contains lactic acid bacteria, which is a wide name for a variety of beneficial bacteria with probiotic properties. Lactic acid is employed as a preservative and acidulant in pickled vegetables and olives, as well as a key component in fermented foods such as canned vegetables, yoghurt, and butter.
Lactic Acid Market Research Report” was just released by Market Research Community. It is divided into several categories, including By Raw Material (Corn, Sugarcane, Cassava, Other Crops), application (Industrial, Food & Beverages, Pharmaceuticals, Personal Care, Polylactic Acid (PLA), Others), By Form (Liquid, Solid) and companies (Jungbunzlauer, FoodChem International,Vaishnavi Biotech, Spectrum Chemicals, Godavari Bio-refineries, ProAgro GmbH, Qingdao Abel Technology, Corbion,DuPont, Cargill, Galactic, DOW, Unitika, Henan Jindan Lacic Acid Technology, Sulzer, Mushashino Chemical, Vigon International, Henan Xinghan Biology Technology, Danimer Scientific, COFCO BioChemical), According to the analysis of Market Research Community, The Lactic Acid Market is projected to grow at a significant pace reaching a CAGR of approximately 7.9%, over the forecast period of 2022–2030.
Driver:
The increased adoption of Lactic Acid in the Specialty Polymers industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Lactic Acid also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Lactic Acid in many sectors also boosts the Lactic Acid Market growth during the forecast period.
Lactic Acid Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2018-2030 |
| Market Size in 2030 (USD Billion) | 5.95 Billion |
| CAGR (2022-2030) | 7.9% |
| By Raw Material | Corn, Sugarcane, Cassava, Other Crops |
| By Form | Liquid, Solid |
| By Application | Industrial, Food & Beverages, Pharmaceuticals, Personal Care, Polylactic Acid (PLA), Others. |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | Jungbunzlauer, FoodChem International,Vaishnavi Biotech,Spectrum Chemicals,Godavari Bio-refineries,ProAgro GmbH,Qingdao Abel Technology, Corbion,DuPont,Cargill,Galactic,DOW,Unitika,Henan Jindan Lacic Acid Technology,Sulzer,Mushashino Chemical,Vigon International,Henan Xinghan Biology Technology,Danimer Scientific,COFCO BioChemical. |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Lactic Acid market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the Lactic Acid Market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Jungbunzlauer, FoodChem International,Vaishnavi Biotech,Spectrum Chemicals,Godavari Bio-refineries,ProAgro GmbH,Qingdao Abel Technology, Corbion,DuPont,Cargill,Galactic,DOW,Unitika,Henan Jindan Lacic Acid Technology,Sulzer,Mushashino Chemical,Vigon International,Henan Xinghan Biology Technology,Danimer Scientific,COFCO BioChemical.
Lactic Acid Market Segment Analysis:
By Raw Material
- Corn
- Sugarcane
- Cassava
- Other Crops
By Application
- Industrial
- Food & Beverages
- Pharmaceuticals
- Personal Care
- Polylactic Acid (PLA)
- Others
By Form
- Liquid
- Solid
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Lactic Acid industries in the region.
Key Lactic Acid Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Lactic Acid Market segments.
– Largest Market Share Held by Industry to Industry for Lactic Acid
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Lactic Acid Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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