Lactic acid (CAS 50-21-5) has a systematic name that is 2-hydroxypropionic acid, which is widely existed in nature. Lactic acid is formed when glucose is broken down for energy in the absence of sufficient oxygen. Lactic Acid is a transparent, colorless syrupy liquid produced from the fermentation of dextrose. It is odorless or has a slight characteristic odor, and has a mild acid taste. Lactic Acid is widely used as an acidulant in foods and beverages that require an edible non-volatile acid.
Market Analysis and Insights: Global Lactic Acids Market
Due to the COVID-19 pandemic, the global Lactic Acids market size is estimated to be worth US$ 1475.2 million in 2022 and is forecast to a readjusted size of US$ 1764.6 million by 2028 with a CAGR of 3.0% during the review period. Fully considering the economic change by this health crisis, L-lactic Acid accounting for % of the Lactic Acids global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR in the post-COVID-19 period. While Food & Beverage segment is altered to an % CAGR throughout this forecast period.
Global lactic acids(CAS 50-21-5) key players include Corbion-Purac, NatureWorks etc.Global top 3 manufacturers hold a share over 78%.
North America and China are the large market with a share both about 34%, followed by Europe with a share about 15 percent.
In terms of production side, this report researches the Lactic Acids capacity, production, growth rate, market share by manufacturers and by region (region level and country level), from 2017 to 2022, and forecast to 2028.
In terms of sales side, this report focuses on the sales of Lactic Acids by region (region level and country level), by company, by Type and by Application. from 2017 to 2022 and forecast to 2028.
Global Lactic Acids Scope and Segment
Lactic Acids market is segmented by Type and by Application. Players, stakeholders, and other participants in the global Lactic Acids market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on production capacity, revenue and forecast by Type and by Application for the period 2017-2028.
Segment by Type
L-lactic Acid
D-lactic Acid
DL-lactic Acid
Segment by Application
Food & Beverage
Polylactic Acid
Industrial
Pharmaceutical
Personal Care
Others
By Company
Corbion
NatureWorks
Henan Jindan Lactic Acid Technology
Galactic
BBCA Group
Jungbunzlauer
Shandong Parkson Biotechnology
Musashino Chemical
Henan Xinghan Biotechnology
Wuhan Sanjiang Space Good Biotech
Shandong Shouguang Juneng Golden
Shanxi Leda Biochemical
Shangdong Fullsail
Cargill
ADM
B&G
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
U.A.E