Asia Pacific Lactic Acid Market - By Product Type, Application and Geography-Market Shares, Forecasts And Trends 2017 - 2022

  • ID: 4386913
  • Report
  • Region: Asia, Asia Pacific
  • 98 pages
  • Mordor Intelligence
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The Asia Pacific 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 more popular acid being used in the food industries. Lactic acid are organic acid which is considered as weak acid by nature and can be obtained by biochemical or chemical process. The biochemical process which involves the bacterial fermentation of carbohydrates to produce lactic acid and is then finally purified to get the pure form. The chemical process involves the use of petrochemical substances which are not sustainable source and utilises more energy so it is in less in demand.

Lactic acid are commercially available in various grades depending upon its purity. China and Japan are the major market for lactic acid in the region. China is the largest exporter and producer of lactic acid in the Asia market and the second largest exporter worldwide.

The demand for lactic acid in the Asia Pacific region is emerging fast with the rise in application as food additive. The major driver for the market are increased demand in meat and other foods applications of lactic acid, availability of cheap raw materials, innovation in technology, and strong support of big manufacturing companies in the region. 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. However the high capital investment in production and purification technology are affecting the market growth. The volatility in the raw material costs are another factor which led to increase in product price in 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.

The sustainable production of lactic acid, technological enhancement and the involvement of major company in the market has proven to be a big opportunity for the lactic acid market. The key players in the market are Henan Jindan Lactic Acid Co., Ltd., Galactic, Cargill, Purac, ADM, Corbion, among others. The major competitors prefers investment in new product development, widening the application market, and marketing strategy due to volatility in commodity costs to maintain their position. Henan Jindan is the largest producer and exporter of lactic acid in China and Asia. The company uses the new membrane technology for the separation and purification process of lactic acid which aids in the efficiency of production and reduces energy consumption.

Key Deliverables:

Market analysis for the Asia Pacific 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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1. Introduction
1.1 Key Deliverables of the study
1.2 Study Assumptions
1.3 Market Definitions
2. Research Approach and Methodology
2.1 Introduction
2.2 Research Design
2.3 Study timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering & Econometric Modelling
2.4.4 Expert Validation
3. KEY FINDINGS OF THE STUDY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Dynamics
4.2.1 Drivers
4.2.1.1 Availability of cheap raw materials
4.2.1.2 Increased applications of lactic acid
4.2.1.3 Regulatory enviornment
4.2.2 Restraint
4.2.2.1 Fluctuations in raw material price
4.2.2.2 High Capital and production cost
4.2.3 Opportunity
4.2.3.1 Sustainable production of lactic acid
4.2.4 Porter Five Forces Analysis
4.2.4.1 Bargaining Power of Suppliers
4.2.4.2 Bargaining Power of Buyers
4.2.4.3 Threat of New Entrants
4.2.4.4 Threat of Substitute Products and Services
4.2.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 By Application
5.1.1 Meat, Poultry and Fish
5.1.2 Beverage
5.1.3 Confectionery
5.1.4 Bakery
5.1.5 Fruits and Vegetable
5.1.6 Dairy
5.2 By Function
5.2.1 Preservative
5.2.2 pH Regulator
5.2.3 Antimicrobial agent
5.2.4 Flavour
5.2.5 Mineral Fortification
5.3 By Source
5.3.1 Natural Source
5.3.1.1 Dairy source
5.3.1.2 Plant source
5.3.2 Synthetic source
5.4 By Geography
5.4.1 South America
5.4.1.1 Brazil
5.4.1.2 Argentina
5.4.1.3 Others
6. Competitive Landscape
6.1 Mergers & Acquisitions
6.2 Joint Ventures
6.3 New Product Launches
6.4 Most active companies by market strategies
6.5 Market Share Analysis
7. Company Profiles
7.1 PURAC
7.2 Cargill
7.3 ADM
7.4 Galactic
7.5 Corbion
7.6 Henan Jindan Lactic Acid Co., Ltd.
7.7 NingXia Hypow Bio-Technology Co., Ltd.
7.8 Cellulac
8. Appendix
8.1 Disclaimer
8.2 Sources
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