Lactic Acid Market: Global Industry Size, Share, Growth, Trends, Analysis, and Forecast to 2022

The global market for lactic acid Market was valued USD 1,275.00 million In 2014, and is projected to reach USD 4,129.19 million by 2022 growing at a CAGR of 16.9% from 2015 to 2022. In terms of volume in 2014 the global market for lactic acid was 750.00 kilo tons and is projected to reach 1,844.56 kilo tons by 2022 growing at a CAGR of 12.9% from 2015 to 2022.

The global market for lactic acid is witnessing growth on the back of increasing applications of lactic acid for manufacturing of polylactic acid (PLA). In addition, rising demand from other end user industries such as personal care products and food and beverages are other factors contributing towards the market growth. However, volatility in the prices of raw material is the major factor restraining the market growth. Rising demand for eco-friendly packaging and increasing scope of applications of lactic acid in end user industries are the factors which will provide huge market potential.

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In 2014, food and beverages application accounted for the largest share of the market pie followed by industrial applications. Food and beverages segment accounted for more than 40% share of the pie in 2014. But, industrial applications is projected to be the fastest growing application of lactic acid. It is projected to grow at a CAGR of 18.3% from 2015 to 2022.

North America is the largest market for lactic acid and is projected to grow at a CAGR of 13.1% from 2015 to 2022 in terms of volume. The market is driven by growing PLA market and rising demand from the other established end uses continues to increase. Asia Pacific market is projected to be the fastest growing market at a CAGR of 17.5% from 2015 to 2022 in terms of revenue. Japan and China will be the major contributor towards the market growth. European market is projected to grow at a moderate growth rate.

Globally, Purac, Cargill and Henan Jindan Lactic Acid Technology Co., Ltd are the top three manufacturers of lactic acid. BASF SE, The DOW Chemical Company, Corbion N.V., and Synbra Technology B.V. are the other major players present in this market. 

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Table of Content

Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Market Segmentation
1.3 Research Methodology
1.3.1 Phase I Secondary Research
1.3.2 Phase II Primary Research
1.3.3 Phase III Expert Panel Review
1.3.4 Approach Adopted
1.3.5 Key Points

Chapter 2 Executive Summary;
2.1 Market Snapshot: Global Lactic Acid Market

Chapter 3 Introduction
3.1 Introduction
3.2 Classification
3.3 Drivers
3.4 Restraints
3.5 Opportunities
3.6 Supply Chain
3.7 Porter’s five force analysis
3.7.1 Bargaining power of suppliers
3.7.2 Bargaining power of buyers
3.7.3 Threat of new entrants
3.7.4 Threat of substitutes
3.7.5 Degree of competition

Chapter 4 Global Lactic Acid Market, Application Analysis
4.1 Global Lactic Acid Market, by application type
4.3 Food & Beverages;
4.3.1 Global demand of lactic acid from food & beverages applications, 2014 – 2022, USD Million), (Kilo Tons)
4.4 Pharmaceuticals;
4.4.1 Global demand of lactic acid from pharmaceuticals applications, 2014 – 2022, (USD Million), (Kilo Tons)
4.5 Industrial applications;
4.5.1 Global demand of lactic acid from industrial applications, 2014 – 2022, (USD Million), (Kilo Tons);
4.6 Personal Care Products
4.6.1 Global demand of lactic acid from personal care products applications, 2014 – 2022, (USD Million), (Kilo Tons)
4.2 Others
4.2.1 Global demand of lactic acid from others applications, 2014 -2022, (USD Million), (Kilo Tons)

Chapter 5 Global Lactic Acid Market, Regional Analysis
5.1 Global Lactic Acid Market, regional analysis, (2014 – 2022)

5.2 North America
5.2.1 US Lactic Acid Market, 2014 – 2022, (USD Million), (Kilo Tons)
5.2.2 Canada Lactic Acid Market, 2014 – 2022, (USD Million), (Kilo Tons)
5.2.3Mexico Lactic Acid Market, 2014 – 2022, (USD Million), (Kilo Tons)

5.3 Europe
5.3.1 Germany Lactic Acid Market, 2014 – 2022, (USD Million), (Kilo Tons)
5.3.2 France Lactic Acid Market, 2014 – 2022, (USD Million), (Kilo Tons)
5.3.3 UK Lactic Acid Market, 2014 – 2022, (USD Million), (Kilo Tons)
5.3.4 Italy Lactic Acid Market, 2014 -2022, (USD Million), (Kilo Tons)
5.3.5 Russia Lactic Acid Market, 2014 – 2022, (USD Million), (Kilo Tons)
5.3.6 Rest of Europe Lactic Acid Market, 2014 – 2022, (USD Million), (Kilo Tons)

5.4 Asia Pacific
5.4.1 Japan Lactic Acid Market, 2014 – 2022, (USD Million), (Kilo Tons)
5.4.2 China Lactic Acid Market, 2014 – 2022, (USD Million), (Kilo Tons)
5.4.3 India Lactic Acid Market, 2014 – 2022, (USD Million), (Kilo Tons)
5.4.4 Australia Lactic Acid Market, 2014 – 2022, (USD Million), (Kilo Tons)
5.4.5 Rest of Asia Pacific Lactic Acid Market, 2014 – 2022, (USD Million), (Kilo Tons)

5.5 RoW
5.5.1 Brazil Lactic Acid Market, 2014 – 2022, (USD Million), (Kilo Tons)
5.5.2 Rest of RoW Lactic Acid Market, 2014 – 2022, (USD Million), (Kilo Tons)

Chapter 6 Competitive Analysis
6.1 BASF
6.2 Jungbunzlauer
6.3 NatureWorks LLC
6.4 Archer Daniels Midland Company
6.5 Galactic S.A
6.6 Synbra Technology B.V. 
6.7 The DOW Chemical Company 
6.8 Corbion N.V.
6.9 Teijin Ltd 
6.10 Plaxica

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Research methodology applied for this study:

Methodology of this research study includes primary and secondary research for defining the market size, shares and forecast for global Lactic Acid market specific to key segments, and regional segmentation.

a.            Secondary Research

Secondary research was initiated with data collected through sources such as press releases, company annual reports, and relevant documents focusing on the current developments in the global Lactic Acid market. Authentic sources such as university research papers, scientific journals, and government websites were similarly screened for identifying business opportunities in several geographical markets and penetration of various products/services in these geographies. Paid databases were excavated to assemble information beneficial for broad commercial study of the key players operating in Lactic Acid market. In case lack of data availability on the public domain, we used estimation models to arrive at comprehensive data sets. Secondary research helped to create a firm base to build market size, analyze trends, and understand the dynamics of Lactic Acid market study.

b.            Primary Research

The exhaustive secondary research practiced was supported & validated by extensive primary research. Primary research was carried out with the help of e-mail interactions, telephonic interviews, as well as face-to-face interviews with the leading industry stakeholders.

The participants tracked for primary interviews include:

•             Marketing/product managers

•             Vice President/ CEOs

•             National sales managers

•             Market intelligence managers

•             Distributors

•             Purchasing managers

•             Other stakeholders