Global L(+)-Lactic Acid Market Growth 2023-2029

Global L(+)-Lactic Acid Market Growth 2023-2029

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.

Lactic Acid is a transparent, colorless syrupy liquid produced from the fermentation of dextrose. It is odorless or has a slight characteristic odor, and has a mild acid taste.

Lactic Acid is widely used as an acidulant in foods and beverages that require an edible non-volatile acid.

LPI (LP Information)' newest research report, the “L(+)-Lactic Acid Industry Forecast” looks at past sales and reviews total world L(+)-Lactic Acid sales in 2022, providing a comprehensive analysis by region and market sector of projected L(+)-Lactic Acid sales for 2023 through 2029. With L(+)-Lactic Acid sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world L(+)-Lactic Acid industry.

This Insight Report provides a comprehensive analysis of the global L(+)-Lactic Acid landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on L(+)-Lactic Acid portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global L(+)-Lactic Acid market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for L(+)-Lactic Acid and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global L(+)-Lactic Acid.

The global L(+)-Lactic Acid market size is projected to grow from US$ 637.8 million in 2022 to US$ 736.4 million in 2029; it is expected to grow at a CAGR of 736.4 from 2023 to 2029.

Global L(+)-Lactic Acid key players include Corbion, Naturework, Henan Jindan Lactic Acid Technology, COFCO Biochemical (AnHui), etc. Global top four manufacturers hold a share over 75%.

USA is the largest market, with a share about 40%, followed by China, and Europe, both have a share about 45 percent.

In terms of product, Food Grade is the largest segment, with a share over 90%. And in terms of application, the largest application is Industrial Applications, followed by Food and Beverage, Home and personal care, Pharmaceutical, etc.

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.

Market Segmentation:

Segmentation by type

Food Grade

Industrial Grade

Pharmaceutical Grade

Segmentation by application

Pharmaceutical

Home and Personal Care

Industrial Applications

Food and Beverage

Others

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

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

Key Questions Addressed in this Report

What is the 10-year outlook for the global L(+)-Lactic Acid market?

What factors are driving L(+)-Lactic Acid market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do L(+)-Lactic Acid market opportunities vary by end market size?

How does L(+)-Lactic Acid break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.