Focus on Environment Conservation and Emergence of New Applications Drive the Global Lactic Acid Market, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) September 16, 2014 -- Follow us on LinkedIn – Lactic acid is one of the most promising chemical building blocks derived from sugar. Global demand for lactic acid is expected to record steady growth in the coming years, driven by the sustained demand from existing end-use markets, namely food additives, cosmetics, and biodegradable plastics, among others, as well as the emergence of new product applications. Increasing focus on environmental conservation, rising demand for eco-friendly products, and escalating costs of manufacturing products made from petroleum-based feedstocks are expected to stimulate further demand for lactic acid.
In terms of end-use applications, Food Additives represents the largest category supported by widespread use of lactic acid as preservative, acidulant, decontaminant, flavor enhancer, nutrition fortifier, acrylamide reducer, and emulsifier, among others. In the cosmetics market, growing consumer preference for natural and sustainable ingredients is motivating brands to turn towards safer compounds such as lactic acid for formulating beauty products including anti-aging and sun-protection creams and lotions. Stringent environmental regulations and growing concerns about high VOC emissions of traditional solvents are major growth drivers for use in biosolvents and green solvents, such as lactate esters, and soy methyl esters. Lactic acid producers are keen on tapping into the lucrative market for green solvents for applications in paints and coatings, industrial and household cleaners, personal care, printing inks, and pharmaceutical industries, among others.
Demand for lactic acid used in Polylactic acid (PLA) production is expected to register strong growth, owing to the volatile international crude oil prices, growing concerns about landfill waste, tougher legislative and regulatory atmosphere, and increasing environmental consciousness among consumers. PLA plastics are increasingly substituting conventional fossil-fuel based plastics in a range of applications including short-life disposable products, led by the global trend towards green packaging. The market is benefiting from the growing government support for renewable chemicals and the regulatory clampdown on greenhouse gas emissions.
As stated by the new market research report on Lactic Acid, the United States represents the largest regional market worldwide. Asia-Pacific represents the fastest growing market with a CAGR of 9.3% over the analysis period. Strong growth recorded by the food processing industry has been contributing significantly to the growing demand for lactic acid in Asian countries including China in recent years. In the upcoming years, Asian countries are expected to continue displaying strong demand for lactic acid in food and beverages market, given its widespread use in a range of locally produced food items, pH adjusters and food fortifiers. China is also expected to emerge as one of the biggest global markets for PLA in the near term, driven by favorable environmental regulations as well as growing domestic production capabilities.
Major players covered in the report include Archer Daniels Midland Company, Corbion Purac, Danimer Scientific LLC, Futerro S.A., Galactic S.A., Henan Jindan Lactic Acid Co. Ltd., Jungbunzlauer AG, Musashino Chemical Laboratory Ltd., NatureWorks LLC, Ningxia Hypow Bio-Technology Co. Ltd., Synbra Technology BV, and Zhejiang Hisun Biomaterials Co. Ltd., among others.
The research report titled “Lactic Acid: A Global Strategic Business Report” announced by Global Industry Analysts Inc., analyzes the primary trends, growth drivers and challenges, and provides details of latest strategic industry activities. The report quantifies market estimates and forecasts in terms of volume terms (in metric tons) for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Middle East, and Latin America (Brazil, and Rest of Latin America). End-Use Segments analyzed in the report include Cosmetic Products, Biodegradable Plastics, Food Additives, and Others.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Lactic_Acid_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/
###
Public Relations, Global Industry Analysts, Inc., http://www.StrategyR.com/, +1 (408) 528-9966, [email protected]
Share this article