Lactic Acid Market Technological Advancements, Demand and Future Industry Trends

The global Lactic Acid Market was valued at US$ 1,069.84 million in 2019 and it is projected to reach US$ 2,217.88 million by 2027; it is expected to grow at a CAGR of 9.6% from 2020 to 2027.

Lactic acid is an organic acid produced during the process of fermentation. It is used in various industries including food & beverages, pharmaceuticals, personal care, and biodegradable polymers. The multi-functionalities of lactic acid render its use in various industries. In the food & beverages industry, lactic acid is used as a preservative, curing agent, and a flavoring agent. Surging global demand for processed food is boosting the application of lactic acid in the food industry. In meat, poultry, & and seafood products, it is majorly used as a decontaminant. In the personal care industry, lactic acid is mainly used in anti-ageing and skin lightening products as it treats hyperpigmentation and age spots.

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Analysis of the Top Market Players:

1. Corbion
2. Cargill Inc.
3. Foodchem International Corporation
4. Galactic
5. Henan Xinghan Biotechnology
6. Musashino Chemical Laboratory,Ltd.
7. Shandong Baisheng Biotechnology Co., Ltd.
8. Jungbunzlauer Suisse AG
9. Henan Jindan Lactic Acid Technology Co., Ltd.
10. Vigon International, Inc.

In this report, the market has been segmented on the basis of:

Form (Dry and Liquid)
Application (Food & Beverages, Pharmaceuticals, Personal Care, and Others)

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Based on application, the lactic acid market is segmented into food & beverages, pharmaceuticals, personal care, and others. The food and & beverages segment led the lactic acid market with the highest market share in 2019. Lactic acid is used in a wide variety of food industries, such as baking products, beverages, fermented meat, confectionery, dairy products, salads, dressings, and ready-to-eat meals. Moreover, in the food & beverage industry, lactic acid is preferred over synthetic chemicals because lactic acid changes the taste, texture, or characteristics of products to improve their shelf life. In the dairy industry, lactic acids are used to coagulate milk and create cheese flavors. Whereas in the brewing industry, lactic acid increases the conversion of starch in beer, thus increasing the yield. In the baking industry, lactic acid helps regulate the acidity of the dough and increases the shelf life of the baked goods. Further, lactic acid fermentation plays an important role in the food and & beverages industry. The reason behind fermenting food is for the purpose of preservation. Lactic acid fermentation also prevents the production of undesired bacteria and moisture. Lactic acid is used as an emulsifier in the manufacture of bakery products. Thus, all these factors are expected to increase the lactic acid market growth in the food and & beverages industry.

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