New York, NY, Feb. 04, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Lactic Acid Market by Source (Natural and Synthetic) and by End-User (Personal Care, Chemical, Pharmaceutical, Food and Beverage, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2025”. According to the report, the global lactic acid market was valued at approximately USD 2.9 billion in 2018 and is expected to generate around USD 10.06 billion by 2025, at a CAGR of around 19.43% between 2019 and 2025.
Lactic acid is an organic chemical compound that is white in color in its solid state and soluble in water. Lactic acid in its liquid state is completely colorless. It can be produced both naturally and synthetically and is classified as an alpha-hydroxy acid (AHA) and plays a crucial role in several biochemical processes.
Browse through 29 Tables & 17 Figures spread over 110 Pages and in-depth TOC on “Global Lactic Acid Market Size, Share 2018 Report: Industry Demand, Growth, Segments, Analysis and Forecast, 2025”.
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The global lactic acid market is likely to be driven by growing product usage in the end-user industries, such as food, chemical, cosmetics, and pharmaceuticals, in the years ahead. The high product demand in the food industry as a preservative and antimicrobial agent is the primary growth driver anticipated to stimulate the growth of the lactic acid market globally. Lactic acid prevents the growth of bacteria and other micro-organisms and helps in increasing the shelf life of food items. The increasing manufacturing of lactate ester is likely to positively impact the global lactic acid market in the future.
The global lactic acid is segmented on the basis of source and end-user. By source, the lactic acid market is bifurcated into natural and synthetic. Natural lactic acid is expected to dominate this global market in the future, due to the easy availability of raw materials, such as sugarcane, molasses, and starch. On the basis of end-user, this global market is categorized into personal care, cosmetics, pharmaceutical, chemical, and food and beverage. The food and beverage segment is expected to dominate this global market in the future, due to the growing acceptance of lactic acid as a preservative and anti-microbial agent.
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By region, North America held an extensive revenue share in the global lactic acid market in 2018 and is expected to dominate in the upcoming years. The growth of this regional market can be attributed to the rising demand for polylactic acid in the chemical industry. Lactic acid is utilized as a monomer for the production of polylactic acid, which is anticipated to further boost this regional market in the future.
The Asia Pacific lactic acid market is projected to register the highest CAGR over the forecast timeframe. This regional market’s growth can be attributed to the increasing demand from the food and beverage industry and the growing disposable income of the population coupled with the urban lifestyle.
Browse the full “Lactic Acid Market by Source (Natural and Synthetic) and by End-User (Personal Care, Chemical, Pharmaceutical, Food and Beverage, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2025” Report at https://www.zionmarketresearch.com/report/lactic-acid-market
Europe is projected to provide significant opportunities in the global lactic acid market over the estimated timeframe, owing to the increasing sales of pharmaceutical medicines due to the rising health consciousness of the regional population. Moreover, the functional properties of lactic acid and favorable government policies regarding the production of lactic acid are likely to positively impact the European lactic acid market over the forecast time period.
Some key industry players of the global lactic acid market include BASF SE, CSM N.V., The Dow Chemical Company, Teijin Ltd., NatureWorks LLC, Corbion Purac, Jungbunzlauer AG, Musashino Chemical Laboratory, Ltd., Galactic S.A., and Henan Jindan Lactic Acid Co., Ltd., among others.
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This report segments the global lactic acid market into:
Global Lactic Acid Market: Source Analysis
- Natural
- Synthetic
Global Lactic Acid Market: End-User Analysis
- Personal Care
- Chemical
- Pharmaceutical
- Food and Beverage
- Others
Global Lactic Acid Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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