Global Lactic Acid Market: Overview
Lactic acid is an organic compound which is found in the solid state; it can be produced naturally as well as synthetically. When lactic acid is in the form of conjugate base it is known as lactate, it plays an important role in several biochemical processes. Lactic acid is used in the pharmaceutical sector for the production of water-soluble lactates. In the milk products that are sour lactic acid is used extensively used which includes laban, cottage cheeses, kefir, koumiss, and yogurt. Fermented milk such as casein is coagulated by lactic acid. It also adds flavor to sourdough bread and in the beer brewing, it is used to produce sour beer. Lactic acid is used as a flavoring agent, ingredient, curing agent, decontaminant, and food preservative in various industries. It is commercially produced by the fermentation of carbohydrates, which include lactose and glucose.
Global Lactic Acid Market: Growth Factors
Lactic acid is broadly used in the food and beverages, textiles, packaging, and personal care products, thus anticipating to drive the market in future. It is widely used in the body care products such as shampoos and creams as it helps in enhancing collagen, skin-lightening effects, accelerates exfoliation, elastin synthesis, and cell renewal which will propel the industry expansion over the next few years. Growth and development of the pharmaceutical industry and growing expenditure on the medicines are factors that anticipate propelling the market in a positive way. The key manufacturers are promoting the demand for personal care products thus opening up new growth opportunities for the market.
Global Lactic Acid Market: Segmentation
The lactic acid market is segmented based on the application, source, and function. The application segment is segregated into pharmaceuticals, industrial, personal care, food & beverage, and others. On the basis of function, the market is classified into pH regulator, mineral fortification, preservative, flavor, antimicrobial agent, and others. The source segment is fragmented into the natural source and synthetic source.
Global Lactic Acid Market: Regional Analysis
North America is the dominating region for the lactic acid market due to its substantial growth in the personal care products sector. Exponential growth in the pharmaceutical companies in the U.S. and Mexico and huge investments made by the local participants is expected to enhance the market in future. Asia-Pacific is projected to witness robust growth owing to the presence of manufacturing base of personal care products in India, Japan, and China. Encouraging government support coupled with low production cost in order to promote FDIs is anticipated to foster the food & beverages sector across the world. Changing lifestyles along with rising population and income in the various countries such as Sri Lanka, India, Malaysia, and China is expected to boost the lactic acid market growth.
Global Lactic Acid Market: Competitive Players
Major market players in the lactic acid market include Kanto Chemicals Co. Ltd., INEOs Enterprises Ltd., Triveni Interchem Pvt. Ltd., JK Chemicals Ltd., WEI Mon Industry Co., Ltd., Euro-Biotech Ltd., Wuhan Sanjiang Space Good Biotech Co., Ltd., and H.K Goel & Co. Pvt. Ltd. Other prominent players include K.N. Biotech Pvt. Ltd., Vaividya Biotech Pvt. Ltd., Henan Jindan Lactic Acid Technology Co., Ltd., FDC Ltd., JV Corporation, and Galactic S.A.
Global Lactic Acid Market: Regional Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
What Report Provides
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market.
