Report Code: A16143 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Lactic Acid Market
Request Now !Lactic acid is one of the most well-known organic acids, with a diverse range of industrial applications. The food, chemical, pharmaceutical, and cosmetics sectors all use this substance extensively. This product is lactic acid bacteria, which is a broad term for a diverse range of helpful bacteria with probiotic qualities. This acid is also used in the production of wine and fermented dairy products, as well as the pickling of vegetables and the curing of fish, pork, and sausages.Lactic acid is utilized as a preservative and acidulant in pickled vegetables and olives, as well as a prominent element in fermented foods such as canned vegetables, yoghurt, and butter. Food and beverages, medicines, cosmetics, chemicals, and industrial applications all employ this naturally occurring organic acid. This is an example of a large-scale production of organic acids. Carbohydrates derived from various sources, such as sugarcane and corn starch, are the most widely utilized feedstock. Organic acids like formic acid and lactic acid, unlike mineral acids, do not entirely dissociate in water.
COVID-19 Impact analysis
Top Impacting Factors
Market Trends
Food acidulants are in high demand
Lactic acid is employed as a crucial ingredient in food and beverage products due to its diverse functional qualities. Lactic acid's wide range of applications in the food and beverage sector, as well as the spectrum of functional benefits provided by food acidulants, are driving the global market for food acidulants.One of the most widely utilized substances in the synthesis of lactic acid is yeast extract. However, because of the high manufacturing costs involved with this method, a substitute was developed: Corn Steep Liquor (CSL), which is made from corn as a by-product of the corn steeping process. The food and beverage industry's demand for corn-based lactic acid as a pH regulator, microbial activity booster, and acidulant is projected to drive market expansion in the coming years.
Furthermore, the industry is bolstered by strong expansion in the food and beverage sector. With shifting consumer behavior and economic development in Asia-Pacific, the area emerges as a prospective market for the food and beverage industry to augment the use of food acidulants. Lactic acid is also widely used in the preservation industry.
Asia-Pacific is the fastest-growing region
With the rise in the use of lactic acid as a food additive, the demand for lactic acid in the Asia-Pacific area is rapidly increasing. Increased demand for lactic acid in meat and other foods applications, availability of low-cost raw materials, technological innovation, and strong backing from large manufacturing businesses in the region are the main drivers for the market. The low cost of raw materials for manufacture, such as molasses, sugarcane, starch, and other carbohydrates, has been a big benefit for the sector because it immediately decreases the final product cost.
Corbion and Total launched a joint venture to establish a PLA bioplastic facility in Europe in April of this year. The factory is expected to be operational in 2024, with a production capacity of 100,000 tons per year. In New Zealand and Australia, Corbion has also appointed IMCD (a well-known distributor of culinary additives and specialty chemicals). The plan is expected to boost lactic acid distribution in Asia Pacific, particularly for beverage, confectionery, sauces, baked products, condiments, dressings, and prepared meals businesses.
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Lactic Acid Market Report Highlights
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Key Market Players | Henan Jindan Lactic Acid Technology Co., Ltd.;, Dow; Cellulac;, Galactic;, Jungbunzlauer Suisse AG;, NatureWorks LLC., BASF SE;, ThyssenKrupp AG;, Futerro;, Musashino Chemical (China) Co., Ltd.;, Corbion;, TEIHIN LIMITED;, Danimer Scientific;, Vaishnavi Bio Tech; |
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