Lactic Acid Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Raw Material (Wood Based and Non-Wood Based), By Application (Food & Beverage, Pharmaceutical, Cosmetics & Personal Care and Others), By Region and Competition

  • Industry : Chemicals
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Report Description

Report Description

Global Lactic Acid Market is anticipated to witness robust growth in the forecast period, 2024-2028 due to the rising demand for fermented foods such as yogurt, canned vegetables, and butter from developing economies. In United states sale of fermented foods has increased by almost 150% in the year 2021.

Additionally, the use of lactic acid in the production of bioplastics and biochemicals from sustainable feedstock is trending. The cost of the final product depends upon factors like the cost of raw materials, such as carbon and nitrogen sources.

Lactic acid, an alpha hydroxy acid found mainly in milk, has been used in skincare and aesthetic treatments. It is presently used in various cosmetic and personal care products as a humectant and skin conditioning agent. It evens out, brightens, and smooths skin while giving it a firmer appearance. It lessens the visibility of wrinkles, fine lines, and dark spots. The product's capacity to fortify poor hair also allows it to be used in hair products. The demand for cosmetics and personal care products is anticipated to increase as consumer awareness and per capita income rise. These factors are expected to boost market expansion.

Growing Uses of Lactic Acid in a Variety of End-Use Industries

The use of lactic acid in a wide range of end-user industries, for instance, food & beverage, pharmaceuticals, personal care, and industrial, is expected to increase the growth of the overall market at a modest rate. Moreover, as per the Food and Drug Administration (FDA), we can use lactic acid for household and cleaning purposes as an antimicrobial agent, curing and pickling agent, flavor enhancer, pH control agent, and solvent. In Thailand, alone the production capacity of lactic acid amounts to be of 125,000 tons. Furthermore, it is also used to extend the shelf life of perishable foods and give the products a creamy texture. All these factors are propelling the growth rate of the market.

Increase In the Demand for Sustainable Alternatives Will Spur Market Expansion

Most of the lactic acid is produced by bacteria via the anaerobic fermentation of sugars. It can be formed using various raw materials, such as starch crops, sugar crops, lignocellulosic materials, and whey. However, lactic acid production through bio-based pathways is eco-friendlier and more economical. Due to climate change and to reduce their carbon footprint, countries like the USA, Germany, Russia, and India are investing in their R&D to find more ecologically feasible production methods that are much more sustainable. Thus, stimulating the growth of the overall market.

 

Mergers & Acquisitions

·         In 2016, Malladi Specialties Limited (MSL) of India signed a deal with Corbion Purac for lactic acid and its derivatives. Malladi Specialties Limited (MSL) produces and supplies the pharmaceutical, home and personal care, chemical, and food industries with calcium lactate, sodium lactate, and buffered lactic acid.

·         In 2022, Archer-Daniels-Midland Company and LG Chem announced their plan to produce corn-based lactic acid and polylactic acid to meet the surging demand for the product. They will be producing 150,000 tons of high-purity corn-based lactic acid annually. Furthermore, they plan to make 75,000 tons of polylactic acid (PLA) annually, a much eco-friendlier and more sustainable product.

 

Recent Developments

Researchers and scientists have developed new and improved technology to produce lactic acid. This new technology produces lactic acid by altering their genes through mutation and evolution technologies. The lactic acid made via this technology has widespread industrial applications. It gives us a quick and adequate understanding of the molecular pathways used for substrate utilization, product and by-product generation, and stress conditions. However, factors like acid stress, pH tolerance, and product inhibition may threaten the production of lactic acid bacteria on a large scale. Therefore, we use yeast or fungi to produce lactic acid bacteria that can overcome the challenges faced through conventional product production.




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Market Segmentation

Global Lactic Acid Market is segmented based on Type and Application. Based on Type, the market is divided Wood Based and Non-Wood Based. Based on Application, the market is fragmented into Food & Beverage, Pharmaceutical, Cosmetics & Personal Care and Others.

 

Market players

DuPont de Nemours, Inc., Asahi Kasei Corporation, JRS Pharma LP, Roquette Frères SA, Mingtai Chemical Co. Ltd., Accent Microcell Pvt. Ltd. , Pharmatrans-Sanaq AG and DFE Pharma GmbH & Co KG are some of the key players operating in the market.

 

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, Volume in metric tons, and CAGR for 2018-2021 and 2023-2028

Report coverage

Revenue forecast, Volume Forecast, company share, competitive landscape, growth factors, and trends

Segments covered

·         By Raw Material  

·         By Application

Regional scope

Europe, North America, Asia Pacific, Middle East & Africa

Country scope

Germany; France; United Kingdom; Russia; Sweden; Denmark; Switzerland; United States; Canada; Mexico; China; India; Japan; Australia; South Korea; South Africa; UAE, Saudi Arabia; Brazil ; Argentina; Colombia

Key companies profiled

DuPont de Nemours, Inc., Asahi Kasei Corporation, JRS Pharma LP, Roquette Frères SA, Mingtai Chemical Co. Ltd., Accent Microcell Pvt. Ltd. , Pharmatrans-Sanaq AG and DFE Pharma GmbH & Co KG

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

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Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, Global Lactic Acid Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·         Lactic Acid Market, By Raw Material:

    • Wood Based
    • Non-Wood Based
  • Lactic Acid Market, By Application:
    • Food & Beverage
    • Pharmaceutical
    • Cosmetics & Personal Care
    • Others

·      Lactic Acid Market, By Region:

    • Europe
      • France
      • Germany
      • United Kingdom
      • Russia
      • Sweden
      • Denmark
      • Switzerland
    • North America
      • United States
      • Canada
      • Mexico
    • Asia-Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Qatar
    • South America
      • Brazil
      • Argentina
      • Colombia 

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Lactic Acid Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Lactic Acid Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Voice of Customer

5.    Global Lactic Acid Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value & Volume

5.2.  Market Share & Forecast

5.2.1.     By Raw Material (Sugarcane, Corn, Cassava & Others)

5.2.2.     By Application (Industrial, Food & Beverages, Pharmaceuticals, Personal Care, Polylactic Acid & Others)

5.2.3.     By Region (Europe, Asia Pacific, North America, Middle East & Africa)

5.2.4.     By Company (2022)

5.3.  Market Map

5.3.1.     By Raw Material

5.3.2.     By Application

5.3.3.     By Region

5.4.  Pricing Analysis

6.    Europe Lactic Acid Market Outlook

6.1.  Market Size & Forecast          

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

6.2.1.     By Raw Material (Sugarcane, Corn, Cassava & Others)

6.2.2.     By Application (Industrial, Food & Beverages, Pharmaceuticals, Personal Care, Polylactic Acid & Others)

6.2.3.     By Country

6.3.  Pricing Analysis

6.4.  Europe: Country Analysis

6.4.1.     France Lactic Acid Market Outlook

6.4.1.1.         Market Size & Forecast

6.4.1.1.1.             By Value & Volume

6.4.1.2.         Market Share & Forecast

6.4.1.2.1.             By Raw Material

6.4.1.2.2.             By Application

6.4.2.     Germany Lactic Acid Market Outlook

6.4.2.1.         Market Size & Forecast

6.4.2.1.1.             By Value & Volume

6.4.2.2.         Market Share & Forecast

6.4.2.2.1.             By Raw Material

6.4.2.2.2.             By Application

6.4.3.     United Kingdom Lactic Acid Market Outlook

6.4.3.1.         Market Size & Forecast

6.4.3.1.1.             By Value & Volume

6.4.3.2.         Market Share & Forecast

6.4.3.2.1.             By Raw Material

6.4.3.2.2.             By Application

6.4.4.     Russia Lactic Acid Market Outlook

6.4.4.1.         Market Size & Forecast

6.4.4.1.1.             By Value & Volume

6.4.4.2.         Market Share & Forecast

6.4.4.2.1.             By Raw Material

6.4.4.2.2.             By Application

6.4.5.     Sweden Lactic Acid Market Outlook

6.4.5.1.         Market Size & Forecast

6.4.5.1.1.             By Value & Volume

6.4.5.2.         Market Share & Forecast

6.4.5.2.1.             By Raw Material

6.4.5.2.2.             By Application

6.4.6.     Denmark Lactic Acid Market Outlook

6.4.6.1.         Market Size & Forecast

6.4.6.1.1.             By Value & Volume

6.4.6.2.         Market Share & Forecast

6.4.6.2.1.             By Raw Material

6.4.6.2.2.             By Application

6.4.7.     Switzerland Lactic Acid Market Outlook

6.4.7.1.         Market Size & Forecast

6.4.7.1.1.             By Value & Volume

6.4.7.2.         Market Share & Forecast

6.4.7.2.1.             By Raw Material

6.4.7.2.2.             By Application

7.    North America Lactic Acid Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.     By Raw Material (Sugarcane, Corn, Cassava & Others)

7.2.2.     By Application (Industrial, Food & Beverages, Pharmaceuticals, Personal Care, Polylactic Acid & Others)

7.2.3.     By Region (Europe, Asia Pacific, North America, Middle East & Africa)

7.2.4.     By Country

7.3.  Pricing Analysis

7.4.  North America: Country Analysis

7.4.1.     United States Lactic Acid Market Outlook

7.4.1.1.         Market Size & Forecast

7.4.1.1.1.             By Value & Volume

7.4.1.2.         Market Share & Forecast

7.4.1.2.1.             By Raw Material

7.4.1.2.2.             By Application

7.4.2.     Canada Lactic Acid Market Outlook

7.4.2.1.         Market Size & Forecast

7.4.2.1.1.             By Value & Volume

7.4.2.2.         Market Share & Forecast

7.4.2.2.1.             By Raw Material

7.4.2.2.2.             By Application

7.4.3.     Mexico Lactic Acid Market Outlook

7.4.3.1.         Market Size & Forecast

7.4.3.1.1.             By Value & Volume

7.4.3.2.         Market Share & Forecast

7.4.3.2.1.             By Raw Material

7.4.3.2.2.             By Application

8.    Asia-Pacific Lactic Acid Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By Raw Material (Sugarcane, Corn, Cassava & Others)

8.2.2.     By Application (Industrial, Food & Beverages, Pharmaceuticals, Personal Care, Polylactic Acid & Others)

8.2.3.     By Country

8.3.  Pricing Analysis

8.4.  Asia-Pacific: Country Analysis

8.4.1.     China Lactic Acid Market Outlook

8.4.1.1.         Market Size & Forecast

8.4.1.1.1.             By Value & Volume

8.4.1.2.         Market Share & Forecast

8.4.1.2.1.             By Raw Material

8.4.1.2.2.             By Application

8.4.2.     India Lactic Acid Market Outlook

8.4.2.1.         Market Size & Forecast

8.4.2.1.1.             By Value & Volume

8.4.2.2.         Market Share & Forecast

8.4.2.2.1.             By Raw Material

8.4.2.2.2.             By Application

8.4.3.     Japan Lactic Acid Market Outlook

8.4.3.1.         Market Size & Forecast

8.4.3.1.1.             By Value & Volume

8.4.3.2.         Market Share & Forecast

8.4.3.2.1.             By Raw Material

8.4.3.2.2.             By Application

8.4.4.     South Korea Lactic Acid Market Outlook

8.4.4.1.         Market Size & Forecast

8.4.4.1.1.             By Value & Volume

8.4.4.2.         Market Share & Forecast

8.4.4.2.1.             By Raw Material

8.4.4.2.2.             By Application

8.4.5.     Australia Lactic Acid Market Outlook

8.4.5.1.         Market Size & Forecast

8.4.5.1.1.             By Value & Volume

8.4.5.2.         Market Share & Forecast

8.4.5.2.1.             By Raw Material

8.4.5.2.2.             By Application

9.    Middle East and Africa Lactic Acid Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value & Volume

9.2.  Market Share & Forecast

9.2.1.     By Raw Material (Sugarcane, Corn, Cassava & Others)

9.2.2.     By Application (Industrial, Food & Beverages, Pharmaceuticals, Personal Care, Polylactic Acid & Others)

9.2.3.     By Country

9.3.  Pricing Analysis

9.4.  MEA: Country Analysis

9.4.1.     Saudi Arabia Lactic Acid Market Outlook

9.4.1.1.         Market Size & Forecast

9.4.1.1.1.             By Value & Volume

9.4.1.2.         Market Share & Forecast

9.4.1.2.1.             By Raw Material

9.4.1.2.2.             By Application

9.4.2.     UAE Lactic Acid Market Outlook

9.4.2.1.         Market Size & Forecast

9.4.2.1.1.             By Value & Volume

9.4.2.2.         Market Share & Forecast

9.4.2.2.1.             By Raw Material

9.4.2.2.2.             By Application

9.4.3.     Qatar Lactic Acid Market Outlook

9.4.3.1.         Market Size & Forecast

9.4.3.1.1.             By Value & Volume

9.4.3.2.         Market Share & Forecast

9.4.3.2.1.             By Raw Material

9.4.3.2.2.             By Application

10.  South America Lactic Acid Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value & Volume

10.2.              Market Share & Forecast

10.2.1.  By Raw Material (Sugarcane, Corn, Cassava & Others)

10.2.2.  By Application (Industrial, Food & Beverages, Pharmaceuticals, Personal Care, Polylactic Acid & Others)

10.2.3.  By Region (Europe, Asia Pacific, North America, Middle East & Africa)

10.2.4.  By Country

10.3.              Pricing Analysis

10.4.              South America: Country Analysis

10.4.1.  Brazil Lactic Acid Market Outlook

10.4.1.1.      Market Size & Forecast

10.4.1.1.1.           By Value & Volume

10.4.1.2.      Market Share & Forecast

10.4.1.2.1.           By Raw Material

10.4.1.2.2.           By Application

10.4.2.  Argentina Lactic Acid Market Outlook

10.4.2.1.      Market Size & Forecast

10.4.2.1.1.           By Value & Volume

10.4.2.2.      Market Share & Forecast

10.4.2.2.1.           By Raw Material

10.4.2.2.2.           By Application

10.4.3.  Colombia Lactic Acid Market Outlook

10.4.3.1.      Market Size & Forecast

10.4.3.1.1.           By Value & Volume

10.4.3.2.      Market Share & Forecast

10.4.3.2.1.           By Raw Material

10.4.3.2.2.           By Application

11.  Market Dynamics

11.1.              Drivers

11.2.              Challenges

12.  Market Trends & Developments

12.1.              Mergers & Acquisitions

12.2.              Product Developments

12.3.              Technological Advancements

13.  Global Microcrystallline Market: SWOT Analysis

14.  Porter’s Five Forces Analysis

14.1.              Competition in the Industry

14.2.              Potential of New Entrants

14.3.              Power of Suppliers

14.4.              Power of Customers

14.5.              Threat of Substitute Products

15.  Competitive Landscape

15.1.              Business Overview

15.2.              Company Snapshot

15.3.              Products & Services

15.4.              Financials (In case of listed companies)

15.5.              Recent Developments

15.6.              SWOT Analysis

15.6.1.  DuPont de Nemours, Inc.

15.6.2.  Asahi Kasei Corporation

15.6.3.  JRS Pharma LP

15.6.4.  Roquette Frères SA

15.6.5.  Mingtai Chemical Co. Ltd.

15.6.6.  Accent Microcell Pvt. Ltd.

15.6.7.  Pharmatrans-Sanaq AG

15.6.8.    DFE Pharma GmbH & Co KG

16.      Strategic Recommendations

Figures and Tables

Frequently asked questions

Frequently asked questions

Rising demand in the Food & Beverages Industry and Increasing Awareness of Consumers is expected to drive the Global Lactic Acid Market in the forecast period.

DuPont de Nemours, Inc., Asahi Kasei Corporation, JRS Pharma LP, Roquette Frères SA, Mingtai Chemical Co. Ltd., Accent Microcell Pvt. Ltd. , Pharmatrans-Sanaq AG and DFE Pharma GmbH & Co KG are some of the key players operating in the market.

Based on End-Use market is divided into Food & Beverage, Pharmaceutical, Cosmetics & Personal Care and Others. The Pharmaceutical Segment is expected to capture the highest market share in the forecast period.

The North America region is dominating the market and is expected to maintain its dominance over the next five years.

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