Lactic acid 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.
The United States is the world's largest consumer market. Its consumptions account for about 30% of the world.China became the world's second consumer market after 2011, and its accounting for about 25% of the world.
With the continuous development of technology of lactic acid, its capacity, production and consumption have varying degrees of growth.
The main downstream products of lactic acid are PLA, the PLA's expansion will cause the rise of lactic acid consumption, and therefore, consumption growth in industrial application is significantly higher than the others.
According to this study, over the next five years the Lactic Acids market will register a 2.3% CAGR in terms of revenue, the global market size will reach US$ 1030 million by 2024, from US$ 920 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Lactic Acids business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Lactic Acids market by product type, application, key manufacturers and key regions and countries.
This study considers the Lactic Acids value and volume generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
L-lactic Acid
D-lactic Acid
DL-lactic Acid
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Industrial Use
Food and Beverage
Pharmaceutical and Personal Care
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
Corbion-Purac
Cargill
Galactic
Musashino
ADM
Henan Jindan Lactic Acid Technology
B&G
...
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Lactic Acids consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Lactic Acids market by identifying its various subsegments.
Focuses on the key global Lactic Acids manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Lactic Acids with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Lactic Acids submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
