Pune India, June 20, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Lactic Acid Market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Lactic Acid Market is present across various countries in the above-mentioned regions.
Get Sample Copy of This Report @ https://greyviews.com/reports/lactic-acid-market/60/request-sample
The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the raw material, application, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Lactic Acid Market are BASF SE, Galactic, Musashino Chemical (China) Co., Ltd., Futerro, Corbion, Dow, TEIJIN LIMITED, Henan Jindan Lacic Acid Technology, Vigon International, Danimer Scientific among others. To achieve a substantial market share in the worldwide Lactic Acid Market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, BASF SE is one of the most significant manufacturers and distributors present in the global lactic acid market.
Lactic acid is the well-known organic acids with a varied range of industrial applications. This type of acid is commercially produced in large scale and mainly used across different industries such as food, pharmaceutical, cosmetic, and chemical industries. Also, it is rapidly being used as a monomer for the production of the bio degradable poly lactic acid (PLA).
The commercially produced lactic acid is used in a number different industries such as pharmaceutical, food, and textile industries. For instance, food manufacturers uses lactic acid in packaged food products such as bread, olives, desserts, and jams to enable longer shelf lives. On the other hand, in the pharmaceutical industry, it is being used as a dispersing/dissolving excipient for various biological compounds without destroying the pharmacological activity of the active ingredient. Therefore, demand for lactic acid in various industries fuels growth of the global market.
Enquiry Before Buying This Report @ https://greyviews.com/inquiry/60
Scope of Lactic Acid Market Report
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD Billion |
| Segments Covered | Raw Material, and application |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle-East and Africa |
| Major Players | BASF SE, Galactic, Musashino Chemical (China) Co., Ltd., Futerro, Corbion, Dow, TEIJIN LIMITED, Henan Jindan Lacic Acid Technology, Vigon International, and Danimer Scientific among others |
Segmentation Analysis
Corn segment is expected to be the fastest growing segment in 2021.
The raw material segment includes sugarcane, corn, cassava, and other corps. Corn segment is expected to witness highest growth rate during the forecast period. Growth of this segment is driven by low cost, sustainability, and abundance of corn in nature. The various factors such as rising environmental concerns, limited supply of petroleum feedstock, and sustainable processing practices are expected to boost demand for corn as the raw material in formation of lactic acid.
Pharmaceuticals segment is expected to be the fastest growing segment in 2021.
The application segment includes food & beverages, pharmaceuticals, personal care, polylactic acid (PLA), and others. Pharmaceuticals segment is expected to witness highest growth rate during the forecast period. In pharmaceuticals industry, the use of lactic acid in applications such as implants, pills, surgical sutures, dialysis, and controlled drug release systems has driven growth of this segment. On the other hand, lactic acid is an emollient and keratolytic used as an agent in a number of cosmetic products and used as an additive in pharmaceutical products due to its antibacterial properties. Such applications of lactic acid may create lucrative growth opportunities for the growth of the pharmaceuticals segment.
Regional Analysis
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the raw material include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
North America region witnessed a major share. Growth of this region is mainly driven by significant growth of the pharmaceutical, personal care, and food and beverages industries. However, Asia-Pacific is expected to witness highest growth rate during the forecast period. Surge in expenditures on medicines coupled with the expansion of pharmaceutical industry in this region is expected to create opportunities for growth of the lactic acid market.
Country Analysis
Germany
Germany lactic acid market size was valued at USD 0.18 billion in 2021 and is expected to reach USD 0.35 billion by 2029, at a CAGR of 8.4% from 2022 to 2029.
Germany is the largest market for food and beverages in the European Union. In addition, the country is the significant exporter of food products across the globe. For instance, the country has for many years been the third largest overall exporter of agricultural goods across the globe and the leading exporter of cheese, confectionery, pork and agricultural technology. Hence, demand for lactic acid from food industry in the country expected to boost growth of the market.
China
China lactic acid market size was valued at USD 0.30 billion in 2021 and is expected to reach USD 0.55 billion by 2029, at a CAGR of 8.2% from 2022 to 2029. The average food consumption per capital is continuously increasing in this country. Hence, huge consumption of food products in this country is projected to boost growth of the lactic acid market. In addition, rising focus of global lactic industry players on China is opportunistic for growth of the market. For instance, IFF launched YO-MIX® ViV, a new solution for ambient yogurt and other fermented drinks producers across the Asia Pacific, with a focus on China.
India
India lactic acid market size was valued at USD 0.16 billion in 2021 and is expected to reach USD 0.31 billion by 2029, at a CAGR of 8.7% from 2022 to 2029. India is one of the strongest growing economies in Asia. In addition, the emerging popularity of lactic acid in this country is expected to create lucrative growth opportunities for lactic acid market. On the other hand, huge demand for lactic acid from cosmetics industry is projected to boost growth of the India lactic acid market.
Covid-19 Impact
Covid-19 had a major impact on almost all of the industries such as food & beverages, manufacturing, etc. The demand for raw material has decreased during the period owing to the regulations on social distancing and supply chain disruptions. In most of the regions, the manufacturing facilities of raw material were closed in the second and third quarters of fiscal year 2020. The major end-users were also temporarily closed during this period and thus the demand for raw material significantly decreased.
Buy Now Full Report @ https://greyviews.com/checkout/60/single_user_license
Contact Us
Rocky Shah
GreyViews
Pune India
Phone: (+44) 162-237-1047
Email: sales@greyviews.com
Browse Related Reports:
Global Raw Material (Sugarcane, Corn, Cassava, Other Corps), Application (Industrial, Food & Beverages, Pharmaceuticals, Personal Care, Polylactic Acid (PLA), and Others), Regions, Segmentation, and forecast till 2029.
https://greyviews.com/reports/lactic-acid-market/60
Global Adhesive Tapes Market Size by Category (Single Sided and Double Sided), Technology (Water-Based, Solvent-Based and Hot-Melt-Based), Resin Type (Silicone, Rubber, Acrylic and Others), Packaging Material (Polyvinyl Chloride, Polypropylene, Paper and Others), End-use (Packaging, Automotive, Pharmaceuticals, Healthcare, Electronics and Electrical, Building and Construction and Others), Regions, Segmentation, and forecast till 2029.
https://greyviews.com/reports/adhesive-tapes-market/55
Global Dimethyl Carbonate Market Size by Product Grade (Battery Grade, Pharmaceutical Grade and Industry Grade), Application (Battery Electrolyte, Reagents, Solvents, Polycarbonate Synthesis, Fuel Additives and Others), End-use (Paints and Coatings, Plastics, Battery, Pharmaceuticals, Agriculture, Electronics and Others), Distribution Channel (Direct and Indirect), Regions, Segmentation, and forecast till 2029.
https://greyviews.com/reports/dimethyl-carbonate-market/53
Global Food Grade Lubricants Market Size by Type (Synthetic Oil, Mineral Oil, and Bio-based), Application (Food, Beverages, Pharmaceuticals & Cosmetics, and Others), Regions, Segmentation, and forecast till 2029.
https://greyviews.com/reports/food-grade-lubricants-market/49
Global Personal Care Ingredients Market Size by Ingredient Type (Emollients, Surfactants, Emuslifiers, Rheology Modifiers, Conditioning Polymers, and Others), Application (Skin Care, Hair Care, Oral Care, Make-up, and Others), Regions, Segmentation, and forecast till 2029.
https://greyviews.com/reports/personal-care-ingredients-market/48
Maleic Anhydride Market Size by Source (N-Butane and Benzene), Application (Unsaturated Polyester Resins, Lubricating Oil Additives, Food Additives, Copolymers, 1,4-BDO, Plasticizers, and Others), End-users (Building and Construction, Automotive, Food and Beverages, Electronics, Pharmaceutical, Personal Care, Agriculture, and Others), Distribution Channel (Direct and Indirect) Regions, Segmentation, and Projection till 2029.
https://greyviews.com/reports/maleic-anhydride-market/47
Global Metal Cleaning Market Size by Ingredients Type (Chelating Agent, Surfactant, Solvents, Solubilizers, pH Regulators, and Others), Cleaner Type (Aqueous and Solvent), End-Use Industry (Automotive & Aerospace, Manufacturing, Healthcare, and Others), Metal Type (Steel, Copper, Aluminium, and Others) and Regions, Segmentation and Projection till 2028.
https://greyviews.com/reports/global-metal-cleaning-market/31
Global Ethyl Acetate Market Size by Application (Adhesives and Sealants, Paints and Coatings, Process Solvents, Intermediates, Pigments, and Other), End-user Industry (Food and Beverage, Pharmaceutical, Packaging, Automotive, Artificial Leather, and Others), Regions, Segmentation and Projection till 2028.
https://greyviews.com/reports/global-ethyl-acetate-market/29
Global Zeolites Market Size by Product Type (Natural and Synthetic), Function (Ion-Exchange, Molecular Sieve, and Catalyst), Framework (Linde Type A, Faujasite, and MFI), Pore Size (3A – 7A and 7A – 10A), End-use (Construction & Building Materials, Animal Feed, Wastewater Treatment, Soil Remediation, and Others), and Application (Adsorbents, Catalysts, Detergent Builders, and Others), Regions, Segmentation, and Projection till 2028.
https://greyviews.com/reports/global-zeolites-market/27
Global Biosurfactants Market Size by Type (Glycolipids, Lipopeptides and Lipoproteins, Phospholipids and Fatty Acids, Polymeric Biosurfactants, and Particulate Biosurfactants), Application (Detergents, Personal Care, Food Processing, Agricultural Chemicals, and Others), Regions, Segmentation, and Projection till 2028.
https://greyviews.com/reports/global-biosurfactants-market/25
Global Castor Oil Derivatives Market Size by Product (Sebacic acid, 12HSA, Ricinoleic Acid, Undecylenic acid, Dehydrated Castor Oil, Hydrogenated Castor oil (Castor wax), and Others) and Application (Lubricants, Surface Coatings, Cosmetics & Pharmaceuticals, Biodiesel, Plastics & Resins, and Others), Regions, Segmentation, and Projection till 2028.
https://greyviews.com/reports/global-castor-oil-derivatives-market/24
Global Natural Oil Polyols Market Size by Product (Soy Oil Polyols, Castor Oil Polyols, Canola Oil Polyols, Palm Oil Polyols, and Sunflower Oil Polyols), End-use (Furniture & Interiors, Construction, Electrical & Electronic Appliances, Footwear, Automotive, Packaging, and Others), Regions, Segmentation and Projection till 2028.
https://greyviews.com/reports/global-natural-oil-polyols-marke/21
Global Bio solvents Market Size by Product (Lactate Ester, Soy Methyl Ester, Glycols, Alcohol, and Others), Application (Paints & Coatings, Printing Inks, Adhesives & Sealants, and Others), Regions, Segmentation and Projection till 2028.
https://greyviews.com/reports/global-bio-solvents-market/20
Global Mining Chemicals Market Size by Product type (Frothers, Flocculants, Collectors, Solvent Extractants, and Grinding aids), Mineral Type (Base metals, Non-metallic minerals, Precious metals, and Rare earth metals), Application (Mineral Processing, Explosives & Drilling, Water & Wastewater Treatment, and Others), Regions, Segmentation, and Projection till 2028
https://greyviews.com/reports/global-mining-chemicals-market/13
Global Detergents Chemicals Market Size by Product (Surfactants, Builders, Enzymes, Fragrances, Bleaching Agents, and Others) and Application (Laundry Cleaning Products, Household & Commercial Cleaning Products, Dishwashing Products, Personal Cleaning Products, Fuel Additives, Biological Reagents, and Others), and End User (household and industrial & institutional) Regions, Segmentation and Projection till 2028.
https://greyviews.com/reports/global-detergents-chemicals-market/12
Global Specialty Oleochemicals Market Size by Product Type (Specialty Ester, Fatty Acid Methyl Ester, Glycerol Ester, Alkoxylates, Fatty Amines, and Others), By Application (Personal Care & Cosmetics, Food Processing, Consumer Goods, Health & Pharmaceuticals, Polymer & Plastic Additives, Textile, Paints & Coatings, and Others), Regions, Segmentation, and Projection till 2028
https://greyviews.com/reports/global-specialty-oleochemicals-market/8
Global Pharmaceutical Processing Seals Market Size by Type (O-rings, Gaskets, Lip seals, D seals, and Others), Material (Metals, PTFE, Silicone, Nitrile Rubber, EPDM, FKM, FFKM, UHMWPE, and PU), Application (Manufacturing equipment and Others), Regions, Segmentation and Projection till 2028.
https://greyviews.com/reports/global-pharmaceutical-processing-seals-market/3
