Lactic Acid Market Size Worth $1.4 Billion By 2030: IndustryARC

Global Lactic Acid Market size is predicted to reach $1.4 billion by 2030, growing at a CAGR of 8.3% during the forecast period 2023-2030 according to the latest market research report published by IndustryARC. This growth is driven by strategic partnerships for expansion, such as the collaboration between LG Chem and ADM in South Korea, signifying a notable market trend in the lactic acid industry. With a focus on producing high-purity lactic acid and polylactic acid (PLA), this partnership responds to the increasing demand for lactic acid-based polymers driven by sustainability initiatives and consumer preferences for eco-friendly products, finds IndustryARC in its recent report, titled “Lactic Acid Market – By Process (Natural Fermentation, Synthetic Production), By Raw Material (Sugarcane, Corn, Cassava, Others), By Application (Food & Beverage, Pharmaceuticals, Personal Care & Cosmetics, Industrial, Chemical, Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2023-2030”

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North America to Register Highest Growth:

In 2023, Asia-Pacific dominated the Lactic Acid market share of 38% due to a combination of advanced technological capabilities, strong demand across various industries, and supportive regulatory frameworks. The region’s well-established food and beverage industry, which prioritizes natural preservatives and clean-label products, has significantly driven the use of lactic acid. The rising consumer preference for organic and health-conscious food options has further fueled demand. Additionally, the burgeoning biodegradable plastics sector, especially the adoption of polylactic acid (PLA) as a sustainable alternative to conventional plastics, has bolstered the market. The robust growth of the personal care and pharmaceutical industries in North America, where lactic acid is valued for its moisturizing, exfoliating, and antimicrobial properties, also contributes to the region’s dominance.

Lactic Acid Market 2023-2030: Scope of the Report

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Lactic Acid Market Report – Key Takeaways:

• Technological Advancements in Production Processes

Technological advancements in lactic acid production processes have played a significant role in reducing production costs and improving product quality. Traditional lactic acid production involves fermentation processes that can be time-consuming and expensive. However, recent innovations, such as the development of genetically engineered microorganisms and optimized fermentation techniques, have enhanced the efficiency and yield of lactic acid production. Additionally, advancements in downstream processing and purification technologies have improved the overall quality and purity of lactic acid, making it suitable for a wider range of applications. These technological improvements have not only made lactic acid more affordable but have also expanded its potential uses across various industries. As research and development efforts continue to focus on optimizing production methods and reducing costs, the lactic acid market is likely to benefit from increased accessibility and broader adoption of high-quality lactic acid products.

• Expansion in Food and Beverage Industry

Lactic acid plays a crucial role in the food and beverage industry, where it is used as a preservative, flavoring agent, and pH regulator. The growing consumer preference for natural and clean-label products has increased the use of lactic acid as a natural preservative that helps extend the shelf life of food products without the need for artificial additives. Additionally, lactic acid enhances the flavor profile of various food items, making it a valuable ingredient in dairy products, baked goods, beverages, and confectionery. for example, in January 2021, IFF announced the launch of YO-MIX® ViV, an “extremely robust” lactic acid bacteria culture for ambient yogurt and other fermented drinks products in Asia Pacific, with a focus on China. Unlike other solutions available on the market, YO-MIX® ViV is a unique culture that for the first time, allows producers to offer ambient yogurt and other fermented beverages to contain highly stable live cultures throughout shelf life. The trend towards health and wellness has also fueled the demand for fermented foods and beverages, such as yogurt, kefir, and kombucha, which rely on lactic acid fermentation for their probiotic benefits. The increasing popularity of these probiotic-rich foods has driven the demand for lactic acid, as consumers seek out products that support digestive health and overall well-being. With the food and beverage industry continuously innovating to meet consumer demands for healthier and more natural products, the lactic acid market is poised for sustained growth.

• High Production Costs Associated with its Manufacturing

The production of lactic acid involves fermentation processes that require specific conditions, such as controlled temperatures and pH levels, as well as high-quality raw materials like glucose, sucrose, or lactose. Additionally, downstream processing and purification of lactic acid to achieve the desired quality and purity can be both time-consuming and expensive. While technological advancements have improved production efficiency, the overall cost remains a significant barrier, particularly for small-scale producers. High production costs can lead to higher prices for lactic acid and its derivatives, potentially limiting their competitiveness against cheaper synthetic alternatives. This challenge underscores the need for continued research and development to discover cost-effective production methods and optimize fermentation processes, which could help lower costs and make lactic acid more accessible across various industries.

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Key Opportunity Analysis:

Expansion into Emerging Markets

Emerging markets in Asia, Latin America, and Africa present significant growth opportunities for the lactic acid market. Increasing urbanization, rising disposable incomes, and growing awareness of health and sustainability are driving demand for lactic acid in these regions. As consumers in these markets seek healthier food options and natural ingredients, the food and beverage industry are poised to adopt lactic acid more extensively as a preservative and flavor enhancer. in January 2021, Corbion has announced plans to increase its capacity for producing lactic acid in North America by around 40%, a move designed to meet the growing demand for natural ingredients in multiple industries. Additionally, the growing industrialization and infrastructural development in these regions open up new avenues for the use of lactic acid in biodegradable plastics and other industrial applications. Companies can capitalize on these opportunities by establishing strong distribution networks, local production facilities, and targeted marketing strategies to penetrate these emerging markets effectively.

Development of Novel Applications

The lactic acid market can benefit significantly from the development of novel applications across various industries. Research and innovation are driving the exploration of new uses for lactic acid in areas such as textiles, coatings, and adhesives. For instance, lactic acid can be used to create bio-based coatings that offer environmental benefits over traditional petrochemical-based products. In the textile industry, lactic acid-derived fibers can provide sustainable alternatives to synthetic fibers. Additionally, lactic acid can be used to develop innovative adhesive formulations for various industrial applications. By investing in research and development, companies can uncover new uses for lactic acid, expanding its market potential and driving growth in untapped sectors.

Integration into Sustainable Agriculture Practices

Lactic acid has the potential to play a crucial role in sustainable agriculture practices. As a natural preservative and antimicrobial agent, lactic acid can be used to develop bio-based pesticides and fertilizers that reduce reliance on synthetic chemicals. These bio-based products can improve soil health, enhance crop yields, and minimize environmental impact. Additionally, lactic acid can be utilized in animal feed to improve digestive health and feed efficiency, promoting more sustainable livestock farming practices. The integration of lactic acid into sustainable agriculture aligns with the global shift towards environmentally friendly farming methods and the increasing demand for organic and sustainably produced food. By exploring and promoting the agricultural applications of lactic acid, companies can tap into a growing market and contribute to sustainable food production systems.

Strategic Partnerships and Collaborations

Forming strategic partnerships and collaborations can unlock new opportunities for growth in the lactic acid market. Collaborations with research institutions and universities can drive innovation and the development of new applications for lactic acid. Partnerships with companies in related industries, such as food and beverage, pharmaceuticals, personal care, and packaging, can facilitate the integration of lactic acid into new products and expand market reach. for instance, in June 2023, Sulzer and Jindan New Biomaterials (Jindan), a well-known lactic acid (LA) company, partnered to enable the production of polylactic acid (PLA), a biobased plastic. With the use of Sulzer’s licensed PLA technology, Jindan Company will be able to manufacture up to 75,000 tonnes of PLA per year at its recently created facility in Henan Province. Additionally, alliances with sustainability-focused organizations and initiatives can enhance the visibility and credibility of lactic acid as a key ingredient in eco-friendly solutions. By leveraging the strengths and expertise of various stakeholders, companies can accelerate market expansion, foster innovation, and position themselves as leaders in the lactic acid market.

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The report also covers the following areas:

• Lactic Acid Market Size and Forecast
• Lactic Acid Market Trends
• Lactic Acid Market Analysis by Product Type

Lactic Acid Market 2023-2030: Key Highlights

• CAGR of the market during the forecast period 2023-2030
• Value Chain Analysis of key stakeholders
• Detailed analysis of market drivers and opportunities during the forecast period
• Lactic Acid Market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the Lactic Acid Market

Covid and Ukrainian Crisis Impact:

• The COVID-19 pandemic had a multifaceted impact on the lactic acid market, influencing both demand and supply dynamics. On the demand side, the food and beverage industry, which is a major consumer of lactic acid for preservation and flavoring, experienced mixed effects. While there was an initial surge in demand for packaged and shelf-stable foods during lockdowns, the closure of restaurants and food service outlets reduced overall consumption. Additionally, the personal care and pharmaceutical sectors saw increased demand for lactic acid due to heightened consumer focus on hygiene and health products, which contain lactic acid for its antimicrobial properties. Conversely, the supply side faced significant disruptions due to restrictions on movement, labor shortages, and logistical challenges, impacting the production and distribution of lactic acid.
• The Russia-Ukraine war has had a substantial impact on the lactic acid market, primarily through disruptions in supply chains and raw material costs. Both Russia and Ukraine are significant producers of agricultural commodities, including grains and sugarcane, which are essential raw materials for lactic acid production. The conflict has led to shortages and volatility in these raw materials, driving up production costs and affecting the availability of lactic acid. Additionally, the war has disrupted transportation routes and logistics, further complicated the distribution of lactic acid and increased shipping costs. The geopolitical instability has also created uncertainty in global markets, affecting investment and strategic planning for companies operating in or sourcing from the region.

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List of Key Market Players in the Lactic Acid Market:

The Global Lactic Acid Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

• Corbion
• Cargill, Incorporated
• Galactic S.A.
• Henan Jindan Lactic Acid Technology Co., Ltd.
• Musashino Chemical Laboratory, Ltd.
• NatureWorks LLC
• BioAmber Inc.
• Cellular Limited
• Synbra Technology BV
• Jungbunzlauer Suisse AG
• International Flavors & Fragrances Inc.
• Sulzer Ltd.
• DuPont de Nemours, Inc.
• Vigon International, Inc.
• Futerro SA

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