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Global L(+)-Lactic Acid Market Growth 2019-2024
SKU ID : LPI-13851559 | Publishing Date : 13-Feb-2019 | No. of pages : 167
Lactic acid has a systematic name that is 2-hydroxypropionic acid, which is widely existed in nature. Lactic acid is formed when glucose is broken down for energy in the absence of sufficient oxygen.
L(+)-Lactic acid excellent is produced from natural corn starch by advanced bio-fermentation and refining technology. The lactic acid is colorless to yellow liquid, having a mild acid odor and taste.
In global market, the production of L(+)-Lactic acid increases from 467 KMT in 2011 to 530 K MT in 2015, at a CAGR of more than 3.2%. In 2015, the global L(+)-Lactic acid market is led by USA, capturing about 40.13% of global L(+)-Lactic Acid production. China is the second-largest region-wise market with 27.90% global production share. At present, the major manufacturers of L(+)-Lactic acid are concentrated in Corbion, Naturework, Galactic and Henan Jindan Lactic Acid Technology. Corbion is the world leader, holding 30.51% production market share in 2015.
The global L(+)-Lactic acid revenue exceed 575 Million USD in 2015, at a CAGR of about 2% from 2017 to 2022.
In application, L(+)-Lactic Acid downstream is wide and recently L(+)-Lactic Acid has acquired increasing significance in various fields of food & beverage, home & personal care, industrial applications and pharmaceutical. and others. Globally, the L(+)-Lactic Acid market is mainly driven by growing demand for industrial applications which accounts for nearly 56.78% of total downstream consumption of L(+)-Lactic Acid in global.
In the future, global market is expected to witness significant growth on account of rising applications, so in the next few years, L(+)-Lactic Acid production will show a trend of steady growth. In 2022 the production of L(+)-Lactic Acid is estimated to be 668 K MT. On product prices, the slow downward trend in recent years will maintain in the future.
According to this study, over the next five years the L(+)-Lactic Acid market will register a 2.1% CAGR in terms of revenue, the global market size will reach US$ 700 million by 2024, from US$ 620 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in L(+)-Lactic Acid business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of L(+)-Lactic Acid market by product type, application, key manufacturers and key regions and countries.
This study considers the L(+)-Lactic Acid value and volume generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Food grade
Industrial grade
Pharmaceutical grade
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Pharmaceutical
Home & personal care
Industrial Applications
Food & Beverage
Others
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
Corbion
Naturework
Galactic
Henan Jindan Lactic Acid Technology
COFCO Biochemical (AnHui)
Musashino Chemical
ADM
Yancheng Haijianuo
Wuhan Sanjiang Space Good Biotech
Shanxi Biochemical
Jungbunzlauer
Zhengzhou Tianrun
Shangdong Fullsail
Tripura Bio Tech Limited
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global L(+)-Lactic Acid consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of L(+)-Lactic Acid market by identifying its various subsegments.
Focuses on the key global L(+)-Lactic Acid manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the L(+)-Lactic Acid with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of L(+)-Lactic Acid submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
L(+)-Lactic acid excellent is produced from natural corn starch by advanced bio-fermentation and refining technology. The lactic acid is colorless to yellow liquid, having a mild acid odor and taste.
In global market, the production of L(+)-Lactic acid increases from 467 KMT in 2011 to 530 K MT in 2015, at a CAGR of more than 3.2%. In 2015, the global L(+)-Lactic acid market is led by USA, capturing about 40.13% of global L(+)-Lactic Acid production. China is the second-largest region-wise market with 27.90% global production share. At present, the major manufacturers of L(+)-Lactic acid are concentrated in Corbion, Naturework, Galactic and Henan Jindan Lactic Acid Technology. Corbion is the world leader, holding 30.51% production market share in 2015.
The global L(+)-Lactic acid revenue exceed 575 Million USD in 2015, at a CAGR of about 2% from 2017 to 2022.
In application, L(+)-Lactic Acid downstream is wide and recently L(+)-Lactic Acid has acquired increasing significance in various fields of food & beverage, home & personal care, industrial applications and pharmaceutical. and others. Globally, the L(+)-Lactic Acid market is mainly driven by growing demand for industrial applications which accounts for nearly 56.78% of total downstream consumption of L(+)-Lactic Acid in global.
In the future, global market is expected to witness significant growth on account of rising applications, so in the next few years, L(+)-Lactic Acid production will show a trend of steady growth. In 2022 the production of L(+)-Lactic Acid is estimated to be 668 K MT. On product prices, the slow downward trend in recent years will maintain in the future.
According to this study, over the next five years the L(+)-Lactic Acid market will register a 2.1% CAGR in terms of revenue, the global market size will reach US$ 700 million by 2024, from US$ 620 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in L(+)-Lactic Acid business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of L(+)-Lactic Acid market by product type, application, key manufacturers and key regions and countries.
This study considers the L(+)-Lactic Acid value and volume generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Food grade
Industrial grade
Pharmaceutical grade
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Pharmaceutical
Home & personal care
Industrial Applications
Food & Beverage
Others
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
Corbion
Naturework
Galactic
Henan Jindan Lactic Acid Technology
COFCO Biochemical (AnHui)
Musashino Chemical
ADM
Yancheng Haijianuo
Wuhan Sanjiang Space Good Biotech
Shanxi Biochemical
Jungbunzlauer
Zhengzhou Tianrun
Shangdong Fullsail
Tripura Bio Tech Limited
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global L(+)-Lactic Acid consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of L(+)-Lactic Acid market by identifying its various subsegments.
Focuses on the key global L(+)-Lactic Acid manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the L(+)-Lactic Acid with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of L(+)-Lactic Acid submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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