The global lactic acid market is projected to grow at a CAGR of 18%-19% during 2020-2025. The growth of lactic acid market is driven by growing demand for skincare products such as moisturizers and anti-aging. Lactic acid, being a monomer for the manufacturing of biodegradable polylactic acid, is also one of the driving factor.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the
most promising, high-growth opportunities for the lactic acid market by raw
matrial (corn, sugarcane, cassava, and others), source (natural and synthetic),
function (preservative, ph regulator, antimicrobial agent, flavour, and
others), application (industrial, food & beverage, biodegradable plastics,
pharmaceutical, personal care & cosmetics, and others), and region (North
America, Europe, Asia Pacific, and Rest of the World)?
Q.2 Which segments will
grow at a faster pace and why?
Q.3 What are the
business risks and threats to the lactic acid market?
Q.4 What are some
changing demands of customers in the lactic acid market?
Q.5 What are the new
developments in the lactic acid market? Which companies are leading these
developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this lactic acid area and how big of a
threat do they pose for loss of market share via product substitution?
Q.8 What M&A
activity has occurred in the last 5 years in this lactic acid market?
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Market Segmentation:
Based on raw material,
the lactic acid market is segmented into corn, sugarcane, cassava, and others. The
corn segment is accounted for the largest share of the market in 2020 due to cheap and
abundant availability.
Asia Pacific is expected
to be the largest region over the forecast period due to rise in the
application as the food additive, increased demand in meat and other foods
applications of lactic acid, availability of raw materials, innovation in
technology, and strong support of big manufacturing companies in the region.
Key Players in the Lactic
acid market are Corbion, Henan Jindan Lactic Acid Technology, Futerro, DuPont,
Vigon International, Cargill, Musashino Chemical (China), thyssenkrupp AG,
Galactic s.a., BASF, TEIJIN., Synbra Technology bv, NatureWorks LLC, Mitushi
Biopharma, Jiangxi Keyuan Bio-Material Co., Ltd., Jiaan Biotech, and others.
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The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers, restraints,
challenges, and opportunities for market growth. It would also help to
understand the competitors better and gain more insights to improve their
position in the business.
To read more about this market please click on
https://www.lucintel.com/lactic-acid-market.aspx
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon
Fitzgerald
Lucintel
Dallas,
Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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