Global Lactic Acid Market - By Product Type, Application and Geography-Market Shares, Forecasts And Trends (2017 - 2022)

Published - Jan 2017 | Category - Food & Beverages | No. of Pages - 160 | Published By - Mordor Intelligence

Report Highlights

The global lactic acid market was XX million US$ in 2014 and expected to reach XX million US$ by 2020 growing at a CAGR of XX% during the forecasted period (2017 - 2022). Lactic acid are organic compounds which are produced commercially by the fermentation of carbohydrates such as glucose, sucrose, lactose or by chemical synthesis. The L (+) form of lactic acid is generally used for food and beverage industry as the human body is only adapted to assimilate this form.  Biotechnological production of lactic acid are commercially used due to its environment concerns, sustainable source and low energy requirements.

Lactic acid are available in various grades depending upon its purity and its application. Lactic acid demand in food and beverages market are growing with the emerging technology and the growing demand in applications. Due to various functional properties of lactic acid it is used as a key ingredient in food and beverages products.

The major driver for the market are increased demand in food applications of lactic acid, availability of cheap raw materials, various functional properties of lactic acid and the regulatory approval by international regulations. The low cost of raw materials such as molasses, starch, sugarcane, and other carbohydrates for production has been a big advantage for industries as it directly lowers the final cost of the product. Also these raw materials are abundant and easily available in the domestic regions for production which is driving the market. The regulatory approval of lactic acid to be used as a food additive have boosted its applications in food products market. However the large capital investment and the fluctuations in raw material prices being a restraint for the market.

Lactic acid market are distributed in different segment on the application type, function type, source type and by geography. Market segmentation on the application type includes meat, poultry and fish, dairy, beverages, fruits and vegetables, bakery and confectionery. Dairy and meat products applications consists of high demand among others in application segment. The market segmentation on the source type consists of natural and synthetic source. The natural source type is further sub segmented into milk source or plant source. The natural production of lactic acid dominates the market while the synthetic production is less common due to its sustainable factor. Lactic acid market segmentation on the function type in food and beverages includes its function as preservative, pH regulator, antimicrobial agent, flavour and mineral fortification. Lactic acid is more commonly used as pH regulator in various foods and as an antimicrobial agent in meat and poultry products which is the second major category of application after dairy.

The market is further segmented on the region basis into North America, Europe, Asia Pacific, Africa and South America. North America hold the largest share of the lactic acid market in food applications followed by Europe and Asia pacific. The EU regulatory environment has supported the market growth in the region.

The sustainable production of lactic acid from biochemical process has created a good opportunity for the market. The high investment in the production of lactic acid is still a big challenge for the market growth. The key players in the market are Galactic, Cargill, Purac, ADM, Henan Jindam Lactic Acid Co., Ltd., Corbion, among others. The major competitors prefers investment in new product development and marketing strategy due to volatility in commodity costs to maintain their position.

Key Deliverables

Market analysis for the Global Lactic acid Market, with region specific assessments and competition analysis on global and regional scales

Market definition along with the identification of key drivers and restraints

Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale

Extensively researched competitive landscape section with profiles of major companies along with their market shares

Identification and analysis of the macro and micro factors that affect the global Lactic acid market on both global and regional scales

A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information

A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market

Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

 

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