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Lactic Acid is an organic alpha hydroxy acid which can be derived natural as well as synthetically. Lactic acid is an important ingredient used in the diary industries to produce curd, cheese, cottage cheese, and other sour products. The curdling of milk which is an important stage for diary product manufacturing is carried out using lactic acid. The lactic acid blends are processed synthetically and naturally by disintegration of the lactic acid. It is used in food and non-food applications. The non-food applications include pharmaceuticals, cosmetics, chemical and textiles. Lactic acid blends are used in manufacturing of drugs, sutures, and prosthetics and other equipment.
The continuously growing food industry in all the regions of the world shall escalate the demand for lactic acid blends will further will boost the market growth. Additionally, the technological advancements in the production techniques and machines shall positively impact the market.
However, technological advancement in the products developed by competitors shall limit the growth of the lactic acid blends market.
Key Market Driver -
Growing food and Pharmaceutical industry.
Key Market Restraint -
Threat from technologically advanced competitors
Based on type, the market is segmented into liquid and semi-solids. Based on end-use, the market is segmented into Food and Non-food.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global Lactic Acid Blend market consists of global & regional players operating. Some of the key players in the material market include BASF SE, Cargill Incorporated, Teijin Limited, Musashino Chemical (China) Co. Ltd., Archer Daniels Midland Company, and others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America holds the largest share in the Lactic Acid Blend market attributed to high number of manufacturers in the region. Asia Pacific is estimated to grow significantly due to the growing food industry in Asian countries like India, China, Japan and South Korea. Europe is estimated to show considerable growth due to the thriving Personal care and cosmetics industry. Latin America and Middle East and Africa are expected to show considerable growth by the end of the forecast period.
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