Global Lactic Acid Market Research Report 2019-2023

Date: 2019-07
Pages:154
Price:

Lactic acid demand in food and beverages market are growing with the emerging technology and the growing demand in applications. Due to various functional properties of lactic acid it is used as a key ingredient in food and beverages products.

The global Lactic acid market was estimated at USD$ 1742.3 million in 2016, and is anticipated to reach USD$ 4671.1 million by 2021, expanding at a CAGR of 18.5% between 2017 and 2021. On the basis of application, the lactic acid market has been segmented into biodegradable polymers, food & beverages, pharmaceuticals, personal care products, and others. The poly lactic acid market has been segmented into packaging, agriculture, automobile, electronics, textiles, and others. On the other hand, the geographical analysis includes all the major regions for lactic and poly lactic acid all across the globe, namely, North America, Europe, Asia-Pacific (APAC), and Rest of the World (Row).

The segmentation of lactic acid market is done by 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 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 which is the second major category of application after dairy.

North America is the largest market for lactic acid and is projected to grow at a CAGR of 15.1% from 2017 to 2021 in terms of volume. The market is driven by growing PLA market and rising demand from the other established end uses continues to increase. Asia Pacific market is projected to be the fastest growing market at a CAGR of 19.5% from 2017 to 2021 in terms of revenue. Japan and China will be the major contributor towards the market growth. European market is projected to grow at a moderate growth rate.

In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market. Lactic Acid Report by Material, Application, and Geography – Global Forecast to 2023 is a professional and comprehensive research report on the world’s major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, United Kingdom, Japan, South Korea and China).

The report firstly introduced the Lactic Acid basics: definitions, classifications, applications and market overview; product specifications; manufacturing processes; cost structures, raw materials and so on. Then it analyzed the world’s main region market conditions, including the product pricae, profit, capacity, production, supply, demand and market growth rate and forecast etc. In the end, the report introduced new project SWOT analysis, investment feasibility analysis, and investment return analysis.

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