By 2028, Global Demand for Lactic Acid Market Size Will

WASHINGTON, Jan. 17, 2022 (GLOBE NEWSWIRE) — Recent analysis by Vantage Market Research of the global lactic acid market finds that increasing applications of lactic acid in various end-use industries are accelerating market growth. Mainly driven by rising demand for environmentally friendly alternative resources, the total global lactic acid market is expected to reach $3.55 billion by 2028, up from $1.19 billion in 2020, with a compound annual growth rate (CAGR) of 16.9%.

Moreover, the multi-functionality of lactic and polylactic acids is also expected to drive the growth of the global lactic acid market, according to market research, in a report titled “Lactic Acid Market By Model (Liquid, Form), By Application (Biodegradable Polymers, Food & Beverage, Personal Care Products, Pharmaceutical Products), By Region (North America, Europe, Asia Pacific, Middle East & Africa) – Global Industry Assessment (2016 – 2021) and outlook (2022 – 2028)”.

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List of Prominent Players in Lactic Acid Market:

  • DuPont (US)
  • Corbion (Netherlands)
  • Cargill (USA)
  • Dow (US)
  • Galactic (Belgium)
  • Unitica (Japan)
  • Sulzer (Switzerland)
  • Henan Jindan (China) LASIC ACID TECHNOLOGY
  • Moshachino Chemical (Japan)
  • Danimer Scientific (USA)
  • Vigon International (USA)
  • Henan Xinghan Biotechnology (China)
  • COFCO BioChemical (China)
  • Vaishnavi Biotechnology (India)
  • Spectrum Chemicals (USA)
  • Jungbunzlur (Switzerland)
  • Food Chem International (China)
  • Godavari Biological Refineries (India)
  • Qingdao Abel Technology (USA)
  • ProAgro GmbH (Austria)

market dynamics:

Increasing lactic acid applications in various end-use industries

Increasing applications of lactic acid in various end-use industries such as food, beverage, pharmaceutical, personal care, industrial, etc. is expected to drive the growth of lactic acid market during the forecast period. The use of lactic acid in the food industry can extend the shelf life of foods; Products give different tastes and textures and also act as an acidifier. According to the U.S. Food and Drug Administration, lactic acid is generally safe to use in a variety of ways, including antimicrobial agent, curing agent, pickling agent, flavor enhancer, pH control agent, and solvent. Moreover, in cosmetics, it is used as an emulsifier or for moisturizing. It is specifically used to treat hyperpigmentation, age spots, restore dull and uneven skin tone, improve skin tone and reduce the appearance of pores, among others. Thus, due to the increasing benefits in various applications, it is expected to lead the lactic acid market in the coming years.

Increasing demand for alternative environmentally friendly resources to stimulate market growth

Lactic acid is largely produced (90%) using bacteria through anaerobic fermentation of sugars. Lactic acid is produced by various biomass, such as starch crops, sugar crops, lignocellulose, and also from whey (residues from cheese production). The bio-production used is more economical and more environmentally friendly than the chemical process. Moreover, PLA also has the advantage such as low energy consumption and low greenhouse gas emission while it is used in the production of 3D printing applications. The production of PLA provides an environmentally friendly alternative to other conventional polymers. As global climatic changes are becoming increasingly extreme, the use of more environmentally feasible production methods is also becoming more important.

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Analysis of the impact of COVID-19:

The COVID-19 outbreak has affected many industries around the world. Governments around the world have implemented strict lockdown measures and social distancing measures in order to curb the rapid spread of the epidemic. Manufacturing facilities around the world were closed during the early stages of the pandemic. Moreover, the post-pandemic economic crisis may significantly delay the commercial spread of the specialty polymer industry. SMEs are the backbone of technology providers and have been experiencing a sharp decline in revenue since the onset of the pandemic in 2020. Hence, the market players faced many challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will be made available online. The impact of COVID-19 on market demand is considered while estimating the current and projected market size and market growth trends for all regions and countries based on the following data points:

  1. Assessing the impact of the COVID-19 pandemic
    1. North America
    2. Europe
    3. Asia Pacific
    4. Latin america
    5. Middle East and Africa
  2. Quarterly revenue forecasts for the market from Asia Pacific 2020 and 2021
  3. Key strategies companies have taken to tackle COVID-19
  4. long term dynamics
  5. short term dynamics

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The Lactic Acid Market Report Highlights:

  • Market assessment
  • Distinctive insights
  • Competitive scene
  • Analysis of the impact of COVID
  • Historical data, estimates and forecasts
  • Company Profile
  • global and regional dynamics

Regional Analysis:

Asia Pacific dominates the global lactic acid market

Asia Pacific region dominated the global lactic acid market in 2021 and is likely to continue in the same trend during the forecast period. This is attributed to the growing pharmaceutical, personal care and food and beverage industries across the region. Moreover, the increasing expenditure on pharmaceuticals and expansion in the pharmaceutical industry is also expected to support the regional growth of the market.

The Asia Pacific region is likely to witness significant growth in the lactic acid market during the forecast period. This is attributed to the increase in application as a food additive in the region. In addition, the availability of cheap raw materials and innovation in technology is also expected to support the growth of the lactic acid market in the near future.

Key questions answered in the report:

  • Which regional market will show the highest rapid growth?
  • Who are the top five players in the lactic acid market?
  • How will the lactic acid market change in the next six years?
  • What application and product will take the lion’s share of the lactic acid market?
  • What are the Lactic Acid Market drivers and restraints?
  • What will the CAGR and Lactic Acid market size be throughout the forecast period?

Recent Developments:

October 2020: FUTERRO has announced the launch of its first fully integrated plant for PLA in China in collaboration with its historic partner BBCA Biochemical. The new Lactic Acid and PLA units incorporate new patented technologies that allow the production of high quality products at competitive costs.

June 2019: NatureWorks from Cargill has announced the development of a new product with the Ingeo PLA formulation to support 3D printing on dual extrusion printers. This would support technological advances in the biopolymer industry.

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This market is entitledlactic acid market It will cover the exclusive information in terms of regional analysis, forecasting, quantitative data – units, major market trends and various other information as mentioned below:

Report feature details
Market size in 2021 1.19 billion US dollars
Expected market size in 2028 3.55 billion US dollars
CAGR growth rate A compound annual growth rate of 16.9% from 2022 to 2028
base year 2021
Historic years 2016 – 2020
prediction years 2022 – 2028
covered slices Form: – liquid – form

Application: – Biodegradable polymers, food and beverage, personal care products

Quantitative data – units Revenues in US$ Million/Billion and CAGR from 2022 to 2028
Covered areas North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Countries covered United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others
Report coverage Market growth drivers, restraints, and opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Organizational Landscape, Market Attractiveness Analysis by Segments and Region, Company Market Share Analysis, and COVID-19 Impact Analysis.

Browse market spreadsheets, numbers spread across 146 pages, and in-depth table of contents on Lactic Acid Market in Form (Liquid, Form), by Application (Biodegradable Polymers, Food & Beverage, Personal Care Products, Pharmaceutical Products), by Region (North America, Europe, Asia Pacific, Middle East & Africa) – Global Industry Assessment (2016 – 2021) and outlook (2022 – 2028)” View Detailed Research Report Here –

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