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Lactobionic Acid Market 2017 - Industry Analysis, Overview, Forecast 2022
Lactobionic Acid Market
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Calcium lactobionate is one of the food additive utilized as a preservative. Potassium lactobionate is used in organ preservation solutions like CoStorSol or Viaspan to render osmotic support and eliminate the risk of cell swelling. Mineral salts formed using lactobionic acids are also utilized in a mineral supplement. And lactobionic acid is also employed in the pharma industry as an excipient for preparation and in the cosmetics field as an antioxidant. For instance, when the antibiotic erythromycin is intravenously delivered, it is used as the salt erythromycin lactobionate.
The global lactobionic acid market is expected to witness significant growth over the forecast period of 2017 to 2022 with steady compound annual growth rate. The major driving factors for the global lactobionic market is its extensive use as a bioactive element particularly in drugs, incredible demand in cosmetics, and amplified demand for eco-friendly products. Lactobionic acid has a variety of application in meat products and meat as well which has improved its demand in the food industry. Being an eco-friendly acid it is proved to be recyclable which has boosted its significance in all sectors. However, the key restraining factors for the global market are the high production cost and raw material price. Lactobionic acid is received from lactose (milk sugar) which is not practical for industrial-level production owing to its elevated cost. Additionally, the lack of awareness amongst customers will also hamper the growth of the global lactobionic acid market over the forecast period.
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The key market players in the global lactobionic acid market are China Haohua Chemical Group Co., Ltd., Bio-sugars Technology Co., Ltd., Shanghai Hongbang Medical Technology CO., Ltd, Reliable Biopharmaceutical Corporation, Carbosynth Limited, Manus Aktteva BioPharma LLP and BOC Sciences. According to product types, the market industry is split into; Lactobionic Acid Solution and Lactobionic Acid Powder. By application, the global market is classified as; Pharmaceutics & Biomedicine Industry, Food Industry, Cosmetic Industry and Chemical Industry. Geographically, the global lactobionic acid market is segmented into regions which are; Asia-Pacific, Southeast Asia, North America, Europe and Rest of the world.
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