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

  • ID: 4386915
  • Report
  • Region: North America, United States
  • 98 pages
  • Mordor Intelligence
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The North America 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). North America is the largest consumer of lactic acid market worldwide. Lactic acid is the most popular acid being used in food and beverages industry with its widespread usage. Lactic acid is a weak acid which is obtained by the fermentation of carbohydrates and is further purified to get pure lactic acid. It can also be obtained by synthetic production but the process involves environment concerns and hence it is less common.

Lactic acid due to its good antimicrobial function on meat and meat products it is widely used in North America as an antimicrobial agent. Lactic acid are commercially available in various grades depending upon its purity. The North America lactic acid application in food sector has grown tremendously with the growing food demand. In US about 85% of the demand of lactic acid is in food and food related application.

The major driver for the market are increased demand in meat and other foods 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 food regulations that allows the use of lactic acid in meat and poultry products have boosted the market. However the large market of acidity regulators available for food products, 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.

The sustainable production of lactic acid has proven to be a big opportunity for the lactic acid market as depending on plant source, less energy requirement, low cost, and eco-friendly benefits. The substitute for the acid market in food sector is a big challenge for the market. 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 North America 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 Innovation in technology
4.2.1.3 Uplifting of ban on the use of Lactic acid on beef
4.2.1.4 Increased used in food and beverages
4.2.2 Restraint
4.2.2.1 Fluctuations in raw material price
4.2.2.2 Availability of substitute for acidity regulator in food market
4.2.2.3 High 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 Europe
5.4.1.1 Spain
5.4.1.2 U.K.
5.4.1.3 France
5.4.1.4 Germany
5.4.1.5 Russia
5.4.1.6 Italy
5.4.1.7 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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