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.
The global L(+)-Lactic Acid market was 620 million US$ in 2018 and is expected to 720 million US$ by the end of 2025, growing at a CAGR of 2.0% between 2019 and 2025.
This report studies the L(+)-Lactic Acid market size (value and volume) by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of L(+)-Lactic Acid in these regions, from 2014 to 2025, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil etc.)
Middle East and Africa (Egypt and GCC Countries)
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers. The key manufacturers in this market include
Henan Jindan Lactic Acid Technology
COFCO Biochemical (AnHui)
Wuhan Sanjiang Space Good Biotech
Tripura Bio Tech Limited
By the product type, the market is primarily split into
By the end users/application, this report covers the following segments
Home & personal care
Food & Beverage
We can also provide the customized separate regional or country-level reports, for the following regions:
Rest of Asia-Pacific
Rest of Europe
Central & South America
Rest of Central & South America
Middle East & Africa
Rest of Middle East & Africa
The study objectives of this report are:
To study and analyze the global L(+)-Lactic Acid market size (value & volume) by company, key regions/countries, products and application, history data from 2014 to 2018, and forecast to 2025.
To understand the structure of L(+)-Lactic Acid market by identifying its various subsegments.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
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 project the value and volume 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.
In this study, the years considered to estimate the market size of L(+)-Lactic Acid are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
This report includes the estimation of market size for value (million USD) and volume (K MT). Both top-down and bottom-up approaches have been used to estimate and validate the market size of L(+)-Lactic Acid market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Raw material suppliers
Regulatory bodies, including government agencies and NGO
Commercial research & development (R&D) institutions
Importers and exporters
Government organizations, research organizations, and consulting firms
Trade associations and industry bodies
With the given market data, QYResearch offers customizations according to the company's specific needs. The following customization options are available for the report:
Further breakdown of L(+)-Lactic Acid market on basis of the key contributing countries.
Detailed analysis and profiling of additional market players.