DUBLIN--(BUSINESS WIRE)--The "Global Lactic Acid Market - Growth, Trends, and Forecast (2018-2023)" report has been added to ResearchAndMarkets.com's offering.
The global lactic acid market is expected to register a CAGR of 12.4%, during the forecast period (2018-2023).
The major drivers for the lactic acid market are increased demand in food applications of lactic acid, availability of cheap raw materials, various functional properties of lactic acid and the regulatory approval by international regulations.
The low cost of raw materials, such as molasses, starch, sugarcane, and other carbohydrates, has been a big advantage for industries as it directly lowers the final cost of the product. Also, these raw materials are abundant and easily available in the domestic regions for production, which is driving the market.
The regulatory approval of lactic acid to be used as a food additive has boosted its applications in food products market. However, the large capital investment and the fluctuations in raw material prices are being the restraints for the market.
Dairy and meat products applications consists of high demand among others in application segment. The natural lactic acid segment dominates the market while the synthetic production is less common due to its sustainable factor. Lactic acid is more commonly used as pH regulator in various foods and as an antimicrobial agent in meat and poultry products, which is the second major category of application after dairy.
Notable Market Developments
- Corbion N.V. acquired the lactic acid business from Archer Daniels Midland Company for an undisclosed cash sum.
Key Topics Covered
1. Introduction
2. Research Approach and Methodology
3. Key Findings of the Study
4. Market Overview
5. Market Segmentation
6. Competitive Landscape
7. Company Profiles
- ADM
- Cargill
- Cellulac
- Corbion
- Galactic
- Henan Jindan Lactic Acid Co. Ltd.
- NingXia Hypow Bio-Technology Co. Ltd.
- PURAC
For more information about this report visit https://www.researchandmarkets.com/research/jqvqhj/global_lactic?w=4
