The global lactobionic acid market is projected to register a CAGR of 12.1%, during the forecast period of 2018-2023.
The major driver for the lactobionic acid market is its wide application as a bioactive component especially in medicine, tremendous demand in cosmeceuticals, and increased demand for biodegradable products. Lactobionic acid has great application in meat and meat products as well, which has increased its demand in the food industry. Being a biodegradable acid it is proved to be environment-friendly which has triggered its importance in all sectors. The major restraint for the market is the high raw material cost and production cost. Lactobionic acid is obtained from lactose, which is not feasible for industrial production due to its high cost. In addition, the low awareness among consumers is also affecting the market growth.
Market segmentation by application type includes cosmetics, food, pharmaceuticals, medicals and others. Medicine segment consists of the largest market share followed by cosmeceuticals due to its use as a natural stabilizer in medical application. Lactobionic acid is considered to be safer and better tolerated than glycolic acid, which has an alpha hydroxyl acid commonly used in cosmetics. Thus, lactobionic acid application in cosmeceutical is growing at a faster rate. Moreover, its application in the food segment is also growing at a fast rate due to its increased demand in meat products as it increases the water holding capacity of meat. Others market includes its application in feed additives and biopolymers.
Europe and Asia-Pacific are the largest markets for lactobionic acid followed by North America. China is the largest exporter of lactobionic acid globally. The Asia-Pacific market is also growing at a fast rate.
Major players - BIO-SUGARS TECHNOLOGY, HANGZHOU DAYANG CHEMICAL INDUSTRY LIMITED COMPANY, HUBEI YUANCHENG TECHNOLOGY CO. LTD., HYPER CHEM, LONZA, NOVOZYMES, RELIABLE BIOPHARMACEUTICAL, SANDOZ BIOSUGARS, SIGMA ALDRICH, SIMAGCHEM, WUXI SIGMA CHEMICAL PRODUCT CO. LTD., XIAN SONWU BIOTECH CO. LTD., among others.
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- Analyzing outlook of the market with the recent trends and Porters five forces analysis
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- Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
- Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
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1.1 Research Methodology
1.2 Market Definition
1.3 Report Description
2. Market Overview
2.1 Market Trends
3. Market Dynamics
3.1.1 Increased Demand in Various Applications as a Bioactive Component
3.1.2 Tremendous Demand in Cosmeceuticals
3.1.3 Growing Demand of Environment Friendly Biodegradable Products
3.2.1 High Raw Material and Production Cost
3.2.2 Low Awareness among Consumers
3.3.1 Growing Sustainable Bio based Product Demand
3.4 Porters Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products and Services
3.4.5 Degree of Competition
4.1 By Application
4.2 By Geography
4.2.1 North America
184.108.40.206 Rest of North America
220.127.116.11 Rest of Europe
18.104.22.168 Rest of APAC
4.2.4 South America
22.214.171.124 Rest of South America
126.96.36.199 South Africa
188.8.131.52 Rest of Africa
5. Competitive Landscape
5.1 Most Adopted Market Strategies
5.2 Most Active Companies
5.3 Market Share Analysis
6. Company Profiles
6.1 Bio-Sugars Technology
6.2 Hangzhou Dayang Chemical Industry Limited Company
6.3 Hubei Yuancheng Technology Co. Ltd
6.4 Hyper Chem
6.7 Reliable Biopharmaceutical
6.8 Sandoz Biosugars
6.9 Sigma Aldrich
6.11 Wuxi Sigma Chemical Product Co. Ltd.
6.12 Xian Sonwu Biotech Co. Ltd.
- Bio-Sugars Technology
- Hangzhou Dayang Chemical Industry Limited Company
- Hubei Yuancheng Technology Co. Ltd.
- Hyper Chem
- Reliable Biopharmaceutical
- Sandoz Biosugars
- Sigma Aldrich
- Wuxi Sigma Chemical Product Co. Ltd.
- Xian Sonwu Biotech Co. Ltd.