Global Lactic Acid Market: Industry Analysis and Opportunity Assessment

SDKI Inc. published a new report on the global lactate market on January 10, 2022. This study includes the statistical and analytical approaches needed to grow the lactic acid market. The key industry insights provided in the report provide readers with better ideas about market overviews regarding existing market scenarios. In addition, the report contains a detailed discussion of current and future market trends related to market growth.

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The lactic acid market is estimated to reach US $ 2.90 billion by 2030 from a market value of US $ 1.25 billion in 2022 and is expected to grow at a CAGR of 12.8% during the 2022-2030 forecast period.

Lactic acid is a chemical by-product of anaerobic respiration. Or lactic acid is the mechanism by which cells generate energy without the surrounding oxygen. In yogurt and intestines, bacteria produce lactic acid. Lactic acid is also present in the blood, and muscles and red blood cells deposit it. The growth of the lactic acid market can be attributed to the significant increase in the use of lactic acid in biodegradable polymers. This is mainly due to increased consumer awareness and increased use of biodegradable plastic packaging in the food applications industry. The use of lactic acid in the food and beverage industry helps to avoid food quality degradation as new technologies advance.

Recently, the demand for lactic acid and polylactic acid is increasing. This is evident from the advances and advances in various end-user applications such as biopolymers, food and beverages, packaging, personal care and cosmetics, and pharmaceuticals. According to a report released by European Bioplastics in partnership with Nova-Institute (Germany), the global production capacity of bioplastics is expected to increase from about 2.11 million tons in 2018 to about 2.62 million tons in 2023. I am. Lactic acid plays an important role as a catalyst in the production of many industrial products. Lactic acid has traditionally been consumed in large quantities by the food and beverage, biopolymers, textiles, packaging, and personal care and cosmetics industries. This is because it is increasingly being used as a replacement for harmful chemicals and plastics. These factors contribute to the growth of the lactic acid market during the forecast period.

Sample URL for the report https://www.sdki.jp/sample-request-111674

However, the lack of capital and the technology and equipment required to extract and ferment high-quality lactic acid can curb the growth of the lactic acid market during the forecast period.

Lactic Acid Market Segment

lactic acid market is divided by raw material (corn, sugar cane), application (biodegradable polymer, food / beverage, pharmaceutical), form (liquid, dry), and region. These segments are further subsegmented based on various factors and consist of some additional information about the market, such as the combined annual growth rate of each segment and subsegment, the market value and volume of the valuation period.

Regional Overview of the Lactic Acid Market

North American region is the world's leading region in terms of market share. The US Environmental Protection Agency (EPA) plays an important role in the monitoring and commercialization of chemical products. This is driving the growth of the lactic acid market in the region. Meanwhile, the Asia Pacific lactic acid market is expected to show the highest growth rate / CAGR during the 2022-2030 forecast period. This is due to the high demand for biodegradable packages in the region.

These regional segments are North America (US and Canada); Asia Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Singapore, Other Asia Pacific); Latin America (Brazil, Mexico, Argentina, etc.) Latin America); Middle East and Africa (Israel, GCC [Saudi Arabia, Arab Emirates, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, and other Middle East and Africa) and Europe (UK, Germany, France, Italy) , Spain, Hungary, Belgium, Netherlands, Luxemburg, NORDIC, Poland, Turkey, Russia and other Europe) and more.

A major key player in the lactic acid market

Key players in the lactic acid market include Corbion, DuPont, Cargill, Galactic, DOW, Unitika, Henan Jindan Lacic Acid Technology Co., Ltd., Sulzer, Mushashino Chemical and Vigon International. The survey includes a detailed competitive analysis of these major companies in the lactate market, corporate profiles, recent developments, and key market strategies.

Details of the survey report

https://www.sdki.jp/press-details/global-lactic-acid-market/332

Hina Miyazu
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sales@sdki.jp

SDKI Inc.'s goal is market scenarios in various countries such as Japan, China, the United States, Canada, the United Kingdom, and Germany. Is to clarify. We also focus on providing reliable research insights to clients around the world, including growth indicators, challenges, trends and competitive environments, through a diverse network of research analysts and consultants. With SDKI gaining trust and a customer base in more than 30 countries, SDKI is even more focused on expanding its foothold in other pristine economies.

This release was published on openPR.