Press release
Lactic Acid Market Analysis by Trends, Size, Share, Company Overview, Growth and Forecast by 2028
Lactic Acid Market
According to our researchers, lactic acid or 2-Hydroxypropanoic acid is a natural biological acid with several applications in the food, pharmaceutical, chemical, cosmetic, and medical industries. It is formed by fermenting sugar acquired from renewable means, terming it as an eco-friendly creation. The product is generally utilized in polylactic acid (PLA) formation, a compostable thermoplastic and recyclable polymer created from renewable mediums.
List of Key Players Covered in Lactic Acid Market Report are:
BASF SE (Ludwigshafen, Germany)
Corbion (The Netherlands)
NatureWorks LLC (Minnesota, U.S.)
CELLULAC (London, U.K.)
Galactic (Escanaffles, Belgium)
Sulzer Ltd (Winterthur, Switzerland)
GODAVARI BIOREFINERIES LTD. (Mumbai, India)
Cargill, Incorporated (Minnesota, U.S.)
Kemin Industries, Inc. (Iowa, U.S.)
Henan Jindan Lactic Acid Technology Co. Ltd (Hertogenbosch, The Netherlands)
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Report Coverage
The market report provides a rounded evaluation of the market segments. A wide-ranging study of the modern trends and impending opportunities in the market is offered in the report. It offers an exhaustive analysis of the regional insights and how they form the market in particular regions. The impact of the COVID-19 pandemic is mentioned for further comprehension of the conceivable threats in the market. The proficient strategies of the best players and how they accelerate the market growth are discussed in the following report
Drivers and Restraints
Growing Cosmetic and Personal Care Industry to Drive Market Growth
Lactic acid is used as a humectant, exfoliator, pH adjuster, and skin prepping agent in various beautifying and personal maintenance products. It smoothens, revitalizes, and sets an even skin texture while appearing firmer. It aids in declining the look of acne spots, wrinkles, and fine lines on the skin. Additionally, the product is incorporated in hair products because of its capability to reinforce fragile hair. Moreover, the upsurge in user consciousness and augmented disposable income are anticipated to amplify the demand for cosmetics and individual maintenance products and further thrust the market development.
Moreover, the promptly increasing number of social media handlers, tailored ads, and celebrated social influencers recommending several cosmetic products through these mediums are expected to boost cosmetic and personal care products sales. Further, brands with online websites and e-commerce businesses such as Alibaba Express and Amazon have amplified online shopping, which, in turn, may bolster the demand for cosmetic and personal care products. This factor may boost the lactic acid market growth in the long term.
Segmentation
Based on raw materials, the global market is segregated into sugarcane, corn, yeast extract, and others. In terms of region, the market is bifurcated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Based on application, the market is classified into PLA, food & beverages, cosmetics & personal care, pharmaceutical, and others. PLA application segment is expected to be responsible for the principal market share during the mentioned period. PLA is a biodegradable thermoplastic polymer acquired from the fermentation of renewable resources such as sugarcane, cassava, corn, cassava, and potato.
Regional Insights
Rising Demand for Acid from Several Industries to Bolster Market Growth in North America
North America held the largest lactic acid market share and controlled the global market in 2020. Rising demand for acid from the food & beverage, pharmaceutical, and cosmetics industries. The pharmaceutical segment is expected to develop as an outcome of R&D and developments in drug transfer systems. These improvements are then estimated to fuel the market growth.
Europe is projected to display substantial development owing to increasing demand from the bioplastic industry. Escalating worries regarding the harmful impacts and ecological destruction of non-biodegradable plastics and ecological destruction is estimated to upsurge the demand for biodegradable plastics as a substitute.
The Asia Pacific region is predicted to observe a considerable growth rate due to intensifying demand from the food & beverages industry. The requirement for food and beverage goods is further estimated to inflate as people's purchasing power and living standards progress.
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Competitive Landscape
Bulk Development Strategies Applied by Players to Maintain Market Position
Most of the crucial players are financing the acid's R&D activities to transform novel and reputable technologies. For example, in April 2019, Asahi Group, a Japanese brewery business, introduced the Asahi Quality and Innovations Co. (AQI) as it pursues to progress its proficiency in yeast and LAB and implement novel digital technologies. This R&D is expected to advance novel health food elements, generate fresh business, and decrease the general ecological impact.
Major Table of Content For Lactic Acid Market:
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Emerging Trends - For Major Countries
Latest Technological Advancement
Regulatory Analysis
Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
Qualitative Insights - Impact of COVID-19 on Global Lactic Acid Market
Supply Chain Challenges
Steps taken by Government/Companies to overcome this impact
Potential opportunities due to COVID-19 outbreak
Key Industry Development
June 202: Praj Industries Ltd. and Lygos, Inc. signed a Memorandum of Understanding (MOU) to develop the registered yeast of Lygos for the creation of the acid jointly.
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https://www.qandqmarketresearch.com/reports/7744730
Lactic acid has a systematic name that is 2hydroxypropionic acid, which is widely existed in nature. Lactic acid is formed when glucose is broken down for energy in the absence of sufficient oxygen.
The United States is the worlds largest consumer market. Its consumptions account for about 30% of the world.China became the worlds second consumer market after 2011, and its accounting for about 25% of the world.
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Lactic acid (2-hydroxy propanoic acid) is a colorless or some time yellowish, odorless and hygroscopic, sugary and thick chemical liquid. It is generally soluble with other liquids such as water and ethanol. It is found in abundance in nature. It is the most important acid ingredient of acerbic milk and a typical component of animals’ blood and muscle tissue.
Lactic acid are widely used in refined dairy products, preservative, flavoring,…
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Lactic acid (2-hydroxy propanoic acid) is a colorless or some time yellowish, odorless and hygroscopic, sugary and thick chemical liquid. It is generally soluble with other liquids such as water and ethanol. It is found in abundance in nature. It is the most important acid ingredient of acerbic milk and a typical component of animals’ blood and muscle tissue.
To access full report @ http://www.persistencemarketresearch.com/market-research/lactic-acid-poly-lactic-acid-market.asp
Lactic acid are widely used in refined…
