Lactic acid (CAS 50-21-5) has a systematic name that is 2-hydroxypropionic acid, which is widely existed in nature. Lactic acid is formed when glucose is broken down for energy in the absence of sufficient oxygen. Lactic Acid is a transparent, colorless syrupy liquid produced from the fermentation of dextrose. It is odorless or has a slight characteristic odor, and has a mild acid taste. Lactic Acid is widely used as an acidulant in foods and beverages that require an edible non-volatile acid.
Market Analysis and Insights: Global Lactic Acids Market
Due to the COVID-19 pandemic, the global Lactic Acids market size is estimated to be worth US$ 1475.2 million in 2022 and is forecast to a readjusted size of US$ 1764.6 million by 2028 with a CAGR of 3.0% during the review period. Fully considering the economic change by this health crisis, L-lactic Acid accounting for % of the Lactic Acids global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR in the post-COVID-19 period. While Food & Beverage segment is altered to an % CAGR throughout this forecast period.
Global lactic acids(CAS 50-21-5) key players include Corbion-Purac, NatureWorks etc.Global top 3 manufacturers hold a share over 78%.
North America and China are the large market with a share both about 34%, followed by Europe with a share about 15 percent.
Global Lactic Acids Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Lactic Acids Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
L-lactic Acid
D-lactic Acid
DL-lactic Acid
Segment by Application
Food & Beverage
Polylactic Acid
Industrial
Pharmaceutical
Personal Care
Others
By Company
Corbion
NatureWorks
Henan Jindan Lactic Acid Technology
Galactic
BBCA Group
Jungbunzlauer
Shandong Parkson Biotechnology
Musashino Chemical
Henan Xinghan Biotechnology
Wuhan Sanjiang Space Good Biotech
Shandong Shouguang Juneng Golden
Shanxi Leda Biochemical
Shangdong Fullsail
Cargill
ADM
B&G
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina