Lactic Acid Market – Future, Scope, Trends

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 the 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.

An 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.

Download Free Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=4016  

 

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.

 

Attribute	Details
Base Year	2022
Historic Data	2018 – 2021
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Revenue in USD Million, Volume in metric tons, and CAGR for 2018-2021 and 2023-2028
Report Coverage	Revenue forecast, Volume Forecast, company share, competitive landscape, growth factors, and trends
Segments Covered	·         By Raw Material   ·         By Application
Regional scope	Europe, North America, Asia Pacific, Middle East & Africa
Country scope	Germany; France; United Kingdom; Russia; Sweden; Denmark; Switzerland; United States; Canada; Mexico; China; India; Japan; Australia; South Korea; South Africa; UAE, Saudi Arabia; Brazil ; Argentina; Colombia
Key companies profiled	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
Customization scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, Global Lactic Acid Market has been segmented into the 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.

 

 

 

 

 

Related

 

Cellulose Ether & Its Derivatives Market Analysis by Size, Growth, Demand, Trends, Share & Overview

Reverse Osmosis Membrane Market Analysis by Size, Growth, Demand, Trends, Share & Overview

Fatty Acid Methyl Ester Market Analysis by Size, Growth, Demand, Trends, Share & Overview

Europe Biodegradable Market Analysis by Size, Growth, Demand, Trends, Share & Overview