Future Market Insights
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 human body obtained from glycogen through muscles cells to support energy production when 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 micro flora in the food and act as food preservatives. It is formed by the natural fermentation process in food products such as cheese, soy sauce, pickled vegetables among others. Apart from food industry, it is widely used in pharmaceutical and chemical industry. The polymers of lactic acid are widely used as labelling and packaging material as they are biodegradable and being biocompatible in nature, they are being used in manufacturing of sutures, drugs and prosthetic devices.
Global Lactic Acid Market: Drivers and Restraints
The widespread applicability of lactic acid across various sectors is driving the demand for lactic acid market. Lactic acid possess 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: Segmentation
On the basis of application, lactic acid market is segmented into:-
Meat poultry and fish
On the basis of end user industries, lactic acid market is segmented into:-
Food & Beverages
On the basis of functionality, lactic acid market is segmented into:-
Global Lactic Acid Market: Region wise Outlook
The global lactic acid market is categorised into seven regions, namely, Western Europe, Eastern Europe Middle East and Africa (MEA), Asia Pacific excluding Japan (APEJ), Japan Latin America and, North America. North America accounts for largest share of the lactic acid market. The food industry accounts for the majority of the lactic acid market and rest is contributed by non-food application in North America region. Asia Pacific accounts for potential region which is expected to record significant growth during the forecast period. Increasing demand for versatility in the food products among consumers, is contributing to the growth of lactic acid market as it prolongs the shelf life of the food products and make them perishable. Europe also holds significant share in the market. Increasing demand for processed and functional food among consumers, is propelling the demand for lactic acid in the food products.
Global Lactic Acid Market: Key Players
Some of the prominent players identified in the global lactic acid market includes:
Archer Daniels Midland Company
Musashino Chemical (China) Co.,Ltd.
Henan Jindan Lactic Acid Technology Co., Ltd
Sigma-Aldrich Co. LLC.
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