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Lactic Acid Blend Market Size, Share & Industry Analysis, By Type (Liquid, Semi-solid), By End-Use (Food, Non-food) and Regional Forecast 2023-2030

Region : Global | Report ID: FBI103450 | Status : Ongoing

 

KEY INDUSTRY INSIGHTS

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


Market Segmentation:


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.


Key Players Covered:


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.


Key Insights



  • New Advancements in Production Technologies

  • Key Trends in the Lactic Acid Blend market

  • New Product Launches, Expansions, Key Players

  • Ranking of Key Players in the Market


Regional Analysis:


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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Segmentation






















 ATTRIBUTE


  DETAILS

By Type




  • Liquid

  • Semi-solid



By End-Use




  • Food

  • Non-food



By Geography




  • North America (U.S., Canada)

  • Europe (UK, Germany, France, Italy, and Rest of Europe)

  • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)

  • Latin America (Mexico, Brazil, Argentina and Rest of Latin America)

  • Middle East & Africa (Saudi Arabia, UAE, South Africa and Rest of Middle East & Africa)



Lactic Acid Blend Industry Developments



  • In May 2020, Procter & Gamble and Cargill Collaborated to provide greener alternatives with the help of lactic acid for applications in the personal care industries.

  • In March 2020, Corbion planned to build a manufacturing facility of nearly 125000 metric ton per year volume for lactic acid in Thailand to support the growth of total Corbion polylactic acid joint venture.

  • In November 2016, Corbion assumed the sales and marketing activities for BASF’s human nutrition and Food emulsifiers business


  • Ongoing
  • 2021
  • 2018-2020

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Chemicals & Materials Clients

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