Lactic Acid Market is expected to reach US$ 6.76 Bn in 2032, likely to surge at a vigorous 8% CAGR during the forecast period of 2022 – 2032. Lactic acid forms an important industrial product, which is used in the formation of various small or large compounds. Lactic acid is formed through the breakdown of glucose and its oxidation. Lactic acid can be processed both naturally and synthetically.
The naturally obtained lactic acid is formed by the fermentation process through bacterial reaction, the prominent bacteria involved in the process are lactobacillus, bifidobacterium, pediococcus among others. Moreover, lactic acid is also naturally present in the human body and obtained from glycogen through muscle cells to support energy production when the oxygen supply is inadequate in the body.
However, chemically lactic acid is derived through the hydrolysis of lacto nitrile. Lactic acid finds extensive application in food industry as it helps to regulate microflora in the food and act as food preservatives. It is formed by the natural fermentation process in food products such as cheese, soy sauce, and pickled vegetables among others.
Apart from the food industry, it is widely used in the pharmaceutical and chemical industry. The polymers of lactic acid are widely used as labeling and packaging material as they are biodegradable and biocompatible in nature, they are being used in the manufacturing of sutures, drugs, and prosthetic devices.
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Global Lactic Acid Market: Drivers and Restraints
The widespread applicability of lactic acid across various sectors is driving the demand for the lactic acid market. Lactic acid possesses various peculiar characteristics, which has different roles to be played in various food segments. .
In meat poultry and fish products lactic acid helps to prolong their shelf life along with preventing the growth of pathogenic bacteria. In pickled vegetables and salad dressings, lactic acid helps to prevent their spoilage and enhances the product safety, whereas in dairy products certain bacteria breakdown the sugar of milk into lactic acid which provides a creamy texture and savoury flavour to the products such as yogurt whose flavour and texture is dependent upon the presence of lactic acid.
Hence broad spectrum of applicability in food industry is spurring the growth of lactic acid market. Owing to antimicrobial, moisturizing property of lactic acid, it has a revitalising effect on the skin. Hence, is gaining popularity among cosmetics manufacturers.
In other non-food application lactic acid is available as myriad which is extensively used in various industrial applications such as pharmaceuticals, chemical and textile industry Thereby, propelling the growth of lactic acid market.
The major challenge faced by the lactic acid market is to fermentation process of the lactic acid which requires technological optimization and product purification. Moreover, this biotechnological production requires optimization of nutrients thus, leading to high manufacturing cost. Thereby, restraining the growth of lactic acid market.
Global Lactic Acid Market: Key Players
Some of the prominent players identified in the global lactic acid market includes:
- NatureWorks LLC
- Corbion
- Galactic s.a.
- Archer Daniels Midland Company
- Musashino Chemical (China) Co.,Ltd.
- Palsgaard A/S
- Henan Jindan Lactic Acid Technology Co., Ltd
- Sigma-Aldrich Co. LLC.
- Futerro
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Global Lactic Acid Market by Segmentation
By Raw Material:
- Corn
- Sugarcane
- Cassava
- Other Crops
By Application:
- Industrial
- Food & Beverages
- Pharmaceuticals
- Personal Care
- Polylactic Acid (PLA)
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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