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Lactic Acid Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Raw Material (Wood Based and Non-Wood Based), By Application (Food & Beverage, Pharmaceutical, Cosmetics & Personal Care and Others), By Region and Competition

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    Report

  • 115 Pages
  • December 2022
  • Region: Global
  • TechSci Research
  • ID: 5709859
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Global Lactic Acid Market is Anticipated to Witness Robust Growth in the Forecast Period, 2024-2028 due to the Rising Demand for Fermented Foods Such as Yogurt, Canned Vegetables, and Butter from Developing Economies.

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Global Lactic Acid Market is anticipated to witness robust growth in the forecast period, 2024-2028 due to the rising demand for fermented foods such as yogurt, canned vegetables, and butter from developing economies. In United states sale of fermented foods has increased by almost 150% in the year 2021.

Additionally, the use of lactic acid in the production of bioplastics and biochemicals from sustainable feedstock is trending. The cost of the final product depends upon factors like the cost of raw materials, such as carbon and nitrogen sources.

Lactic acid, an alpha hydroxy acid found mainly in milk, has been used in skincare and aesthetic treatments. It is presently used in various cosmetic and personal care products as a humectant and skin conditioning agent. It evens out, brightens, and smooths skin while giving it a firmer appearance. It lessens the visibility of wrinkles, fine lines, and dark spots. The product's capacity to fortify poor hair also allows it to be used in hair products. The demand for cosmetics and personal care products is anticipated to increase as consumer awareness and per capita income rise. These factors are expected to boost market expansion.

Growing Uses of Lactic Acid in a Variety of End-Use Industries

The use of lactic acid in a wide range of end-user industries, for instance, food & beverage, pharmaceuticals, personal care, and industrial, is expected to increase the growth of the overall market at a modest rate. Moreover, as per the Food and Drug Administration (FDA), we can use lactic acid for household and cleaning purposes as an antimicrobial agent, curing and pickling agent, flavor enhancer, pH control agent, and solvent. In Thailand, alone the production capacity of lactic acid amounts to be of 125,000 tons. Furthermore, it is also used to extend the shelf life of perishable foods and give the products a creamy texture. All these factors are propelling the growth rate of the market.

Increase In the Demand for Sustainable Alternatives Will Spur Market Expansion

Most of the lactic acid is produced by bacteria via the anaerobic fermentation of sugars. It can be formed using various raw materials, such as starch crops, sugar crops, lignocellulosic materials, and whey. However, lactic acid production through bio-based pathways is eco-friendlier and more economical. Due to climate change and to reduce their carbon footprint, countries like the USA, Germany, Russia, and India are investing in their R&D to find more ecologically feasible production methods that are much more sustainable. Thus, stimulating the growth of the overall market.

Mergers & Acquisitions

  • In 2016, Malladi Specialties Limited (MSL) of India signed a deal with Corbion Purac for lactic acid and its derivatives. Malladi Specialties Limited (MSL) produces and supplies the pharmaceutical, home and personal care, chemical, and food industries with calcium lactate, sodium lactate, and buffered lactic acid.
  • In 2022, Archer-Daniels-Midland Company and LG Chem announced their plan to produce corn-based lactic acid and polylactic acid to meet the surging demand for the product. They will be producing 150,000 tons of high-purity corn-based lactic acid annually. Furthermore, they plan to make 75,000 tons of polylactic acid (PLA) annually, a much eco-friendlier and more sustainable product.

Recent Developments

Researchers and scientists have developed new and improved technology to produce lactic acid. This new technology produces lactic acid by altering their genes through mutation and evolution technologies. The lactic acid made via this technology has widespread industrial applications. It gives us a quick and adequate understanding of the molecular pathways used for substrate utilization, product and by-product generation, and stress conditions. However, factors like acid stress, pH tolerance, and product inhibition may threaten the production of lactic acid bacteria on a large scale. Therefore, we use yeast or fungi to produce lactic acid bacteria that can overcome the challenges faced through conventional product production.

Market Segmentation

Global Lactic Acid Market is segmented based on Type and Application. Based on Type, the market is divided Wood Based and Non-Wood Based. Based on Application, the market is fragmented into Food & Beverage, Pharmaceutical, Cosmetics & Personal Care and Others.

Market players

DuPont de Nemours, Inc., Asahi Kasei Corporation, JRS Pharma LP, Roquette Frères SA, Mingtai Chemical Co. Ltd., Accent Microcell Pvt. Ltd. , Pharmatrans-Sanaq AG and DFE Pharma GmbH & Co KG are some of the key players operating in the market.

Report Scope:

In this report, Global Lactic Acid Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Lactic Acid Market, By Raw Material:

  • Wood Based
  • Non-Wood Based

Lactic Acid Market, By Application:

  • Food & Beverage
  • Pharmaceutical
  • Cosmetics & Personal Care
  • Others

Lactic Acid Market, By Region:

  • Europe
  • France
  • Germany
  • United Kingdom
  • Russia
  • Sweden
  • Denmark
  • Switzerland
  • North America
  • United States
  • Canada
  • Mexico
  • Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Middle East and Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South America
  • Brazil
  • Argentina
  • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Lactic Acid Market.

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Table of Contents

1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
4. Voice of Customer
5. Global Lactic Acid Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Raw Material (Sugarcane, Corn, Cassava & Others)
5.2.2. By Application (Industrial, Food & Beverages, Pharmaceuticals, Personal Care, Polylactic Acid & Others)
5.2.3. By Region (Europe, Asia Pacific, North America, Middle East & Africa)
5.2.4. By Company (2022)
5.3. Market Map
5.3.1. By Raw Material
5.3.2. By Application
5.3.3. By Region
5.4. Pricing Analysis
6. Europe Lactic Acid Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Raw Material (Sugarcane, Corn, Cassava & Others)
6.2.2. By Application (Industrial, Food & Beverages, Pharmaceuticals, Personal Care, Polylactic Acid & Others)
6.2.3. By Country
6.3. Pricing Analysis
6.4. Europe: Country Analysis
6.4.1. France Lactic Acid Market Outlook
6.4.1.1. Market Size & Forecast
6.4.1.1.1. By Value & Volume
6.4.1.2. Market Share & Forecast
6.4.1.2.1. By Raw Material
6.4.1.2.2. By Application
6.4.2. Germany Lactic Acid Market Outlook
6.4.2.1. Market Size & Forecast
6.4.2.1.1. By Value & Volume
6.4.2.2. Market Share & Forecast
6.4.2.2.1. By Raw Material
6.4.2.2.2. By Application
6.4.3. United Kingdom Lactic Acid Market Outlook
6.4.3.1. Market Size & Forecast
6.4.3.1.1. By Value & Volume
6.4.3.2. Market Share & Forecast
6.4.3.2.1. By Raw Material
6.4.3.2.2. By Application
6.4.4. Russia Lactic Acid Market Outlook
6.4.4.1. Market Size & Forecast
6.4.4.1.1. By Value & Volume
6.4.4.2. Market Share & Forecast
6.4.4.2.1. By Raw Material
6.4.4.2.2. By Application
6.4.5. Sweden Lactic Acid Market Outlook
6.4.5.1. Market Size & Forecast
6.4.5.1.1. By Value & Volume
6.4.5.2. Market Share & Forecast
6.4.5.2.1. By Raw Material
6.4.5.2.2. By Application
6.4.6. Denmark Lactic Acid Market Outlook
6.4.6.1. Market Size & Forecast
6.4.6.1.1. By Value & Volume
6.4.6.2. Market Share & Forecast
6.4.6.2.1. By Raw Material
6.4.6.2.2. By Application
6.4.7. Switzerland Lactic Acid Market Outlook
6.4.7.1. Market Size & Forecast
6.4.7.1.1. By Value & Volume
6.4.7.2. Market Share & Forecast
6.4.7.2.1. By Raw Material
6.4.7.2.2. By Application
7. North America Lactic Acid Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Raw Material (Sugarcane, Corn, Cassava & Others)
7.2.2. By Application (Industrial, Food & Beverages, Pharmaceuticals, Personal Care, Polylactic Acid & Others)
7.2.3. By Region (Europe, Asia Pacific, North America, Middle East & Africa)
7.2.4. By Country
7.3. Pricing Analysis
7.4. North America: Country Analysis
7.4.1. United States Lactic Acid Market Outlook
7.4.1.1. Market Size & Forecast
7.4.1.1.1. By Value & Volume
7.4.1.2. Market Share & Forecast
7.4.1.2.1. By Raw Material
7.4.1.2.2. By Application
7.4.2. Canada Lactic Acid Market Outlook
7.4.2.1. Market Size & Forecast
7.4.2.1.1. By Value & Volume
7.4.2.2. Market Share & Forecast
7.4.2.2.1. By Raw Material
7.4.2.2.2. By Application
7.4.3. Mexico Lactic Acid Market Outlook
7.4.3.1. Market Size & Forecast
7.4.3.1.1. By Value & Volume
7.4.3.2. Market Share & Forecast
7.4.3.2.1. By Raw Material
7.4.3.2.2. By Application
8. Asia-Pacific Lactic Acid Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Raw Material (Sugarcane, Corn, Cassava & Others)
8.2.2. By Application (Industrial, Food & Beverages, Pharmaceuticals, Personal Care, Polylactic Acid & Others)
8.2.3. By Country
8.3. Pricing Analysis
8.4. Asia-Pacific: Country Analysis
8.4.1. China Lactic Acid Market Outlook
8.4.1.1. Market Size & Forecast
8.4.1.1.1. By Value & Volume
8.4.1.2. Market Share & Forecast
8.4.1.2.1. By Raw Material
8.4.1.2.2. By Application
8.4.2. India Lactic Acid Market Outlook
8.4.2.1. Market Size & Forecast
8.4.2.1.1. By Value & Volume
8.4.2.2. Market Share & Forecast
8.4.2.2.1. By Raw Material
8.4.2.2.2. By Application
8.4.3. Japan Lactic Acid Market Outlook
8.4.3.1. Market Size & Forecast
8.4.3.1.1. By Value & Volume
8.4.3.2. Market Share & Forecast
8.4.3.2.1. By Raw Material
8.4.3.2.2. By Application
8.4.4. South Korea Lactic Acid Market Outlook
8.4.4.1. Market Size & Forecast
8.4.4.1.1. By Value & Volume
8.4.4.2. Market Share & Forecast
8.4.4.2.1. By Raw Material
8.4.4.2.2. By Application
8.4.5. Australia Lactic Acid Market Outlook
8.4.5.1. Market Size & Forecast
8.4.5.1.1. By Value & Volume
8.4.5.2. Market Share & Forecast
8.4.5.2.1. By Raw Material
8.4.5.2.2. By Application
9. Middle East and Africa Lactic Acid Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Raw Material (Sugarcane, Corn, Cassava & Others)
9.2.2. By Application (Industrial, Food & Beverages, Pharmaceuticals, Personal Care, Polylactic Acid & Others)
9.2.3. By Country
9.3. Pricing Analysis
9.4. MEA: Country Analysis
9.4.1. Saudi Arabia Lactic Acid Market Outlook
9.4.1.1. Market Size & Forecast
9.4.1.1.1. By Value & Volume
9.4.1.2. Market Share & Forecast
9.4.1.2.1. By Raw Material
9.4.1.2.2. By Application
9.4.2. UAE Lactic Acid Market Outlook
9.4.2.1. Market Size & Forecast
9.4.2.1.1. By Value & Volume
9.4.2.2. Market Share & Forecast
9.4.2.2.1. By Raw Material
9.4.2.2.2. By Application
9.4.3. Qatar Lactic Acid Market Outlook
9.4.3.1. Market Size & Forecast
9.4.3.1.1. By Value & Volume
9.4.3.2. Market Share & Forecast
9.4.3.2.1. By Raw Material
9.4.3.2.2. By Application
10. South America Lactic Acid Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Raw Material (Sugarcane, Corn, Cassava & Others)
10.2.2. By Application (Industrial, Food & Beverages, Pharmaceuticals, Personal Care, Polylactic Acid & Others)
10.2.3. By Region (Europe, Asia Pacific, North America, Middle East & Africa)
10.2.4. By Country
10.3. Pricing Analysis
10.4. South America: Country Analysis
10.4.1. Brazil Lactic Acid Market Outlook
10.4.1.1. Market Size & Forecast
10.4.1.1.1. By Value & Volume
10.4.1.2. Market Share & Forecast
10.4.1.2.1. By Raw Material
10.4.1.2.2. By Application
10.4.2. Argentina Lactic Acid Market Outlook
10.4.2.1. Market Size & Forecast
10.4.2.1.1. By Value & Volume
10.4.2.2. Market Share & Forecast
10.4.2.2.1. By Raw Material
10.4.2.2.2. By Application
10.4.3. Colombia Lactic Acid Market Outlook
10.4.3.1. Market Size & Forecast
10.4.3.1.1. By Value & Volume
10.4.3.2. Market Share & Forecast
10.4.3.2.1. By Raw Material
10.4.3.2.2. By Application
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
12.1. Mergers & Acquisitions
12.2. Product Developments
12.3. Technological Advancements
13. Global Microcrystallline Market: SWOT Analysis
14. Porter’s Five Forces Analysis
14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products
15. Competitive Landscape
15.1. Business Overview
15.2. Company Snapshot
15.3. Products & Services
15.4. Financials (In case of listed companies)
15.5. Recent Developments
15.6. SWOT Analysis
15.6.1. DuPont de Nemours, Inc.
15.6.2. Asahi Kasei Corporation
15.6.3. JRS Pharma LP
15.6.4. Roquette Frères SA
15.6.5. Mingtai Chemical Co. Ltd.
15.6.6. Accent Microcell Pvt. Ltd.
15.6.7. Pharmatrans-Sanaq AG
15.6.8. DFE Pharma GmbH & Co KG
16. Strategic Recommendations

Companies Mentioned

A selection of companies mentioned in this report includes:

  • DuPont de Nemours, Inc.
  • Asahi Kasei Corporation
  • JRS Pharma LP
  • Roquette Frères SA
  • Mingtai Chemical Co. Ltd.
  • Accent Microcell Pvt. Ltd.
  • Pharmatrans-Sanaq AG
  • DFE Pharma GmbH & Co KG