November 26, 2020

Lactic Acid Market Size 2020 Analysis by Industry Trends, Future Demands, Growth Factors, Emerging Technologies, Prominent Players and Forecast till 2027

The Global Lactic Acid Market is estimated to grow at a CAGR of over 14.5% and reach USD 9.5 Billion by end of 2027.

Lactic acid alternatively termed as milk acid or 2-hydroxypropanoic acid, is an organic acid naturally found in various dairy products. It can also be produced by chemical synthesis or bacterial fermentation. Lactic acid has also gained popularity owing to its use in production of polylactic acid, a biodegradable polymer used across various end-use industries. Lactic acid is widely used in the food & beverage, chemical, cosmetics, and pharmaceutical industries owing to its superior properties such as curing agent, preservative, acidity regulator, pH regulator, disinfectant, moisturizer, etc.

LACTIC ACID MARKET: Drivers & CHALLENGES

Market Drivers:

  • Growing Demand from Food & Beverage Industry

Lactic acid is gaining higher importance in the food & beverage industry owing to its application as a curing agent, food preservative, and pH regulator. With the growing population worldwide, the demand for food & beverages is escalating. The changing consumer preference towards preserved and processed ready to eat/cook food products owing to busier lifestyle with higher spending on packaged food products is estimated to escalate the demand for lactic acid.

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  • Increasing Demand for Bioplastics

Polylactic acid (PLA) is a biodegradable thermoplastic produced from the condensation of lactic acid obtained from the renewable source with the help of the Lactic Acid Bacteria (LAB). PLA is gaining higher attention across the globe owing to rise in environmental consciousness. PLA addresses the issues regarding the solid waste disposal and also minimizes the dependency on the petroleum-based raw materials, which is the prominent factor responsible for its rising demand. Due to rising demand for bioplastics, which is further pushed by the favorable governmental support, increases the overall demand for PLA. This, in turn, fuels the demand for lactic acid

Market Restraint:

  • Higher Down Streaming Cost

The growth of the lactic acid market is mainly hampered by the higher cost associated with the down streaming process of lactic acid. Separation and purification of the lactic acid from the impurities after the fermentation accounts for half of the total lactic acid operating and capital cost. In addition to this, it is very difficult and time consuming to obtain high purity lactic acid owing to the higher affinity towards water with energy intensive recovery. Also, precipitation, conventional filtration, acidification, carbon adsorption is some of the downstream treatments involved for obtaining lactic acid, which hamper the output quality and increases the lactic acid prices.

Lactic acid market: Key segments

  • By Synthesis, the market is segmented into: Chemical Synthesis and Microbial Fermentation
  • By Application, the market is segmented into: Bioplastic, Food & Beverage, Cosmetics, Pharmaceuticals, Chemicals, Textile and Others
  • By Geography, the market is segmented into: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.

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Lactic acid MARKET: Report SCOPE

The report on the lactic acid market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

KEY Companies Covered

  • Corbion (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • Galactic
  • DuPont
  • BASF SE
  • NatureWorks LLC
  • Futerro
  • Henan Jindan Lactic Acid Technology Co., Ltd.
  • Synbra Technology bv
  • Danimer Scientific
  • Other Key Companies

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Lactic acid MARKET: report segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Lactic Acid Market, by Synthesis

  • Chemical Synthesis
  • Microbial Fermentation

Lactic Acid Market, by Application

  • Bioplastic
  • Food & Beverage
  • Cosmetics
  • Pharmaceuticals
  • Chemicals
  • Textile
  • Others

Lactic Acid Market, by Region

  • North America
    • US
    • Canada
    • Mexico
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Rest of Europe
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Argentina
    • Rest of South America

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Table of Content

  1. INTRODUCTION
    1. Research Objectives
    2. Market Definition
    3. Research Scope
    4. Regional Coverage
    5. Research Timeline
    6. Assumptions
    7. Limitations
  2. RESEARCH DESIGN & SCOPE
    1. Introduction
    2. Primary Research
      1. Key Industry Expert Insight
    3. Secondary Research
      1. Vital Data from Secondary Sources
    4. Market Size Estimation
    5. Data Validation & Triangulation
  3. EXECUTIVE SUMMARY
  4. MARKET DYNAMICS
    1. Introduction
    2. Drivers
      1. Booming Food & Beverage Sector
      2. Growing Demand from Cosmetics Industry
    3. Restraint
      1. Higher Down Streaming Cost
      2. Volatile Raw Material Prices
    4. Opportunities
      1. Increasing Demand for Bioplastics
      2. Emergence of New Raw Materials
    5. Challenges
      1. Availability of Substitutes
  5. INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
    1. Introduction
      1. Power of Buyers
      2. Power of Suppliers
      3. Intensity of Competition
      4. Challenges of Substitutes
      5. Challenges of New Entrants
    2. Macro-Economic Indicators
  6. GLOBAL LACTIC ACID MARKET BY SYNTHESIS, Market Size in USD Million and Kiloton (2019-2027)
    1. Introduction
    2. Chemical Synthesis
    3. Microbial Fermentation
  7. GLOBAL LACTIC ACID MARKET BY APPLICATION, Market Size in USD Million and Kiloton (2019-2027)
    1. Introduction
    2. Bioplastic
    3. Food and Beverage
    4. Cosmetics
    5. Pharmaceuticals
    6. Chemicals
    7. Textile
    8. Others
  8. GLOBAL LACTIC ACID MARKET BY REGION, Market Size in USD Million and Kiloton (2019-2027)
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. France
      3. Italy
      4. UK
      5. Russia
      6. Rest of Europe
    3. Asia-Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of Asia-Pacific
    4. Middle East and Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of Middle East and Africa
    5. South America
      1. Brazil
      2. Argentina
      3. Rest of South America
  9. COMPETITIVE LANDSCAPE
    1. Introduction
    2. Market Ranking/Share Analysis of Key Companies
    3. Company Benchmarking
  10. COMPANY PROFILES
    1. Corbion
      1. Company Overview
      2. Financial Overview
      3. Products/Solutions/Services Offered
      4. Key Developments
      5. SWOT Analysis
    2. Galactic
    3. DuPont
    4. BASF SE
    5. NatureWorks LLC
    6. Henan Jindan Lactic Acid Technology Co., Ltd.
    7. Synbra Technology bv
    8. Danimer Scientific
    9. Other Key Companies
  11. APPENDIX
    1. Key Industry Expert Insights
    2. Primary Discussion Guide
    3. Customization Options

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