Market Overview:
The global lactic acid market is expected to exhibit a CAGR of 10.07% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Lactic acid (C3H6O3) refers to a type of organic acid that is mainly produced in muscle cells and red blood cells. It aids in cell respiration, molecule signaling, and glucose production. In the food and beverage sector, lactic acid helps to control the development of pathogenic microorganisms, improve flavor, and extend the shelf life of food products. As a result, it is widely utilized in the preparation of wine and fermented dairy products, curing meat and fish, pickling vegetables, etc. Furthermore, lactic acid is also used as an emollient in various cosmetic items and as an additive in pharmaceutical products for its antibacterial properties.
www.imarcgroup.com
Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
To get more information on the regional analysis of this market, Request Sample
Lactic Acid Market Trends:
The rising consumption of processed and ready-to-eat food products wherein lactic acid is utilized as one of the significant additives to enhance product shelf life is primarily driving the global lactic acid market. Lactic acid also acts as a flavoring agent and pH regulator in several bakery items, beverages, confectionery, meat products, etc. Additionally, the escalating demand for lactic acid and its derivatives in the pharmaceutical industry for manufacturing active pharmaceutical ingredients (APIs) that are used in drugs, IV solutions, liquid supplements, etc., is further augmenting the market growth. Apart from this, the increasing utilization of lactic acid in the production of PLA, which is a biodegradable polymer and a compostable thermoplastic, is acting as another growth-inducing factor. PLA is widely adopted for food packaging applications based on its aesthetic appeal, superior printability, and resilience to grease and oil. Additionally, the growing use of lactic acid in cosmetic and personal care products as an exfoliator, humectant, adjuster, and skin conditioning ingredient is also catalyzing the market growth across the globe. Besides this, lactic acid is gaining popularity as an essential precursor for various chemicals such as esters, bio solvents, pyruvic acid, and acrylic acid, which is further creating a positive outlook for the market. Numerous other factors, including the launch of several government initiatives to encourage the use of bioplastics and expanding applications of lactic and polylactic acids in the packaging and biomedical industries, are expected to fuel the global lactic acid market over the forecasted period.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global lactic acid market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on raw material, form and application.
Breakup by Raw Material:
www.imarcgroup.com
Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
To get more information on the regional analysis of this market, Request Sample
- Corn
- Sugarcane
- Cassava
- Others
Breakup by Form:
Breakup by Application:
- Industrial
- Food and Beverages
- Pharmaceuticals
- Personal Care
- Polylactic Acid (PLA)
- Others
Breakup by Region:
To get more information on the regional analysis of this market, Request Sample
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Cellulac plc, Corbion N.V., Dupont De Nemours Inc., Foodchem International Corporation, Galactic, Godavari Biorefineries Ltd. (Somaiya Group)., Henan Jindan Lactic Acid Technology Co. Ltd., Jungbunzlauer Suisse AG, Musashino Chemical Laboratory Ltd., Spectrum Chemical Mfg. Corp., Vaishnavi Bio Tech International Limited and Vigon International Inc. (Azelis Americas LLC).
Report Coverage:
| Report Features |
Details |
|---|
| Base Year of the Analysis |
2021 |
| Historical Period |
2016-2021 |
| Forecast Period |
2022-2027 |
| Units |
US$ Billion |
| Segment Coverage |
Raw Material, Form, Application, Region |
| Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered |
Cellulac plc, Corbion N.V., Dupont De Nemours Inc., Foodchem International Corporation, Galactic, Godavari Biorefineries Ltd. (Somaiya Group)., Henan Jindan Lactic Acid Technology Co. Ltd., Jungbunzlauer Suisse AG, Musashino Chemical Laboratory Ltd., Spectrum Chemical Mfg. Corp., Vaishnavi Bio Tech International Limited and Vigon International Inc. (Azelis Americas LLC). |
| Customization Scope |
10% Free Customization |
| Report Price and Purchase Option |
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499 |
| Post-Sale Analyst Support |
10-12 Weeks |
| Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the global lactic acid market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global lactic acid market?
- What are the key regional markets?
- What is the breakup of the market based on the raw material?
- What is the breakup of the market based on the form?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global lactic acid market and who are the key players?
- What is the degree of competition in the industry?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Lactic Acid Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Raw Material
6.1 Corn
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Sugarcane
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Cassava
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Form
7.1 Liquid
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Solid
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Application
8.1 Industrial
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Food and Beverages
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Pharmaceuticals
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Personal Care
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Polylactic Acid (PLA)
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Others
8.6.1 Market Trends
8.6.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Cellulac plc
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.2 Corbion N.V.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.3 Dupont De Nemours Inc.
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.3.4 SWOT Analysis
14.3.4 Foodchem International Corporation
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 Galactic
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 Godavari Biorefineries Ltd. (Somaiya Group)
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7 Henan Jindan Lactic Acid Technology Co. Ltd.
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.8 Jungbunzlauer Suisse AG
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Musashino Chemical Laboratory Ltd.
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 Spectrum Chemical Mfg. Corp.
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 Vaishnavi Bio Tech International Limited
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 Vigon International Inc. (Azelis Americas LLC)
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
List of Figures
Figure 1: Global: Lactic Acid Market: Major Drivers and Challenges
Figure 2: Global: Lactic Acid Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Lactic Acid Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Lactic Acid Market: Breakup by Raw Material (in %), 2021
Figure 5: Global: Lactic Acid Market: Breakup by Form (in %), 2021
Figure 6: Global: Lactic Acid Market: Breakup by Application (in %), 2021
Figure 7: Global: Lactic Acid Market: Breakup by Region (in %), 2021
Figure 8: Global: Lactic Acid (Corn) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Lactic Acid (Corn) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Lactic Acid (Sugarcane) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Lactic Acid (Sugarcane) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Lactic Acid (Cassava) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Lactic Acid (Cassava) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Lactic Acid (Other Raw Materials) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Lactic Acid (Other Raw Materials) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Lactic Acid (Liquid) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Lactic Acid (Liquid) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Lactic Acid (Solid) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Lactic Acid (Solid) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Lactic Acid (Industrial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Lactic Acid (Industrial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Lactic Acid (Food and Beverages) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Lactic Acid (Food and Beverages) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Lactic Acid (Pharmaceuticals) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Lactic Acid (Pharmaceuticals) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Lactic Acid (Personal Care) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Lactic Acid (Personal Care) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Lactic Acid (Polylactic Acid (PLA)) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Lactic Acid (Polylactic Acid (PLA)) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Lactic Acid (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Lactic Acid (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: North America: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: North America: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: United States: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: United States: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Canada: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Canada: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Asia-Pacific: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Asia-Pacific: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: China: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: China: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Japan: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Japan: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: India: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: India: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: South Korea: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: South Korea: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Australia: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Australia: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Indonesia: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Indonesia: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Others: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Others: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Europe: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Europe: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Germany: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Germany: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: France: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: France: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: United Kingdom: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: United Kingdom: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Italy: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Italy: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Spain: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Spain: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Russia: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Russia: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Others: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Others: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Latin America: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Latin America: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Brazil: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Brazil: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Mexico: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Mexico: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Others: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Others: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Middle East and Africa: Lactic Acid Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Middle East and Africa: Lactic Acid Market: Breakup by Country (in %), 2021
Figure 80: Middle East and Africa: Lactic Acid Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 81: Global: Lactic Acid Industry: SWOT Analysis
Figure 82: Global: Lactic Acid Industry: Value Chain Analysis
Figure 83: Global: Lactic Acid Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Lactic Acid Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Lactic Acid Market Forecast: Breakup by Raw Material (in Million US$), 2022-2027
Table 3: Global: Lactic Acid Market Forecast: Breakup by Form (in Million US$), 2022-2027
Table 4: Global: Lactic Acid Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Lactic Acid Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Lactic Acid Market: Competitive Structure
Table 7: Global: Lactic Acid Market: Key Players