Global Lactic Acid Market is expected to grow with CAGR of 10.9% during the forecast period 2021-2027

The Global Lactic Acid Market was estimated at USD 3.10 Bn in 2020 and is expected to grow with CAGR of 10.9% during the forecast period.

The global lactic acid market is majorly growing owing to the multi-functionalities of lactic acid across several industry verticals. For instance, lactic acid is utilized in the food & beverage industry as a fermentation agent, food preservative, flavor enhancer, decontaminant, and acidulant. In the chemical industry it is used as a mosquito repellent, pH regulator, descaling agents, green solvent, neutralizers, metal complexing agents, cleaning agents. The cosmetic industry uses lactic acid as skin-lightening agents, moisturizers, skin rejuvenating agents, humectants, anti-acne agents, and anti-tartar agents. It is used by the pharmaceuticals industry as a dialysis solution, building-block molecule, tableting, prostheses, immune-stimulant, mineral preparations, controlled drug delivery system, surgical sutures, and for manufacturing esthetical and hygiene products. Owing to such wide application, the lactic acid market is expected to experience a high product demand over the forecast period.

Moreover, increasing R&D activities for improving the product scope is further expected to boost the market growth. For instance, as per a study “Recent Advances in d-Lactic Acid Production from Renewable Resources” published in 2019 by the NCBI (National Center for Biotechnology Information), the production of biodegradable polymers as an alternative to petroleum-based plastics has attained significant importance over the past few years. Polylactic acid is now seen as a preferred alternative component in several applications that range from food packaging to pharmaceuticals. The study further states that D-lactic acid plays a crucial role in producing heat-resistant polylactic acid and utilization renewable resources for the production process has helped decrease in production cost. Such studies are instrumental in surging the demand in the lactic acid market.

Global Lactic Acid Market by Region Outlook (Revenue, USD Million, 2021-2027)

  • Europe
  • North America
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Based on region, the Asia-Pacific region is expected to grow with a high growth rate in the lactic acid market during the forecast period. This high share is attributed to the increasing product demand for food products innovations along with the rapidly growing population in developing nations such as China and India. The growth is also due to increasing demand from product packaging sector which makes use of the lactic acid attributes to improve the shelf-life & perishable properties of products. In addition, the growing popularity of the organic cosmetic product is another prominent factor driving the growth in the lactic acid industry. Further, the presence of the key market player in the region such as Jindan that owns 100000 metric tons of LA plant in China is also driving the growth in this region. All these factors are expected to proliferate the industry growth across the region.

The Global Lactic Acid Industry Segmentation:

Global Lactic Acid Market by Application Outlook (Revenue, USD Million, 2021-2027)

  • Personal care products
  • Food & Beverages
    • Beverages
    • Bakery & confectionery products
    • Dairy products
    • Meat products
    • Other food products (sauces, savouries, snacks, and jams)
  • Biodegradable polymers
  • Chemical
  • Textile
  • Pharmaceutical products
  • Other lactic acid applications

Global Lactic Acid Market by Source Outlook (Revenue, USD Million, 2021-2027)

  • Natural
  • Synthetic

Global Lactic Acid Market by Functionality Outlook (Revenue, USD Million, 2021-2027)

  • Emulsifier
  • Flavouring Agent
  • ph Regulator
  • Anti-forming agent
  • Anti-microbial agent

Key Findings:

  • Based on source, the natural source segment held the dominant share in the lactic acid industry and is expected to show similar trends in the forecast period.
  • Based on application, the food & beverage segment witnessed significant growth in the Lactic Acid industry.
  • Based on region, the North America region accounted for the largest share in the lactic acid market across the globe.
  • Based on region, the Asia-Pacific region is expected to grow with a high growth rate during the forecast period.

Company Profiles and Competitive Intelligence

The key players operating in the lactic acid industry are:

  • DuPont
  • Corbion
  • Cargill
  • DOW
  • Galactic
  • Unitika
  • Sulzer
  • Henan Jindan Lacic Acid Technology
  • Vigon International
  • Mushashino Chemical
  • Henan Xinghan Biology Technology
  • COFCO BioChemical
  • Danimer Scientific
  • FoodChem International
  • Jungbunzlauer
  • Spectrum Chemicals
  • Vaishnavi Biotech
  • Godavari Bio-refineries
  • Qingdao Abel Technology
  • ProAgro GmbH
  • Teijin Ltd.
  • CSM N.V.
  • NatureWorks LLC
  • Henan Jindan Lactic Acid Co., Ltd.

Recent News:

  • In January 2021, Jungbunzlauer, one of the world's leading producers of biodegradable ingredients of natural origin announced its plan to open a new lactic acid production plant in Ontario, Canada. This new production unit is expected to increase the workforce production output of the company will be using modern technology ensuring a minimal level of water consumption, greenhouse gas emissions, and product side streams.
  • In October 2020, FUTERRO, a well-established Belgian company announced the launch of its first fully integrated PLA plant in China. This new PLA and lactic acid unit have new patented technologies which allow the company to produce high-quality products at competitive costs.

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