According to the current analysis of Reports and Data, the global Lactic Organic Acids Market was valued at USD 23.21 Billion in 2020 and is expected to reach USD 42.11 Billion by year 2028, at a CAGR of 7.8%. Organic acids have a wide scale of application in the industry. Synthetically produced organic acids are used as catalysts, surfactants and dyes popularly. Those that are produced by fermentation process of microorganisms are extensively used in various processes in the food and beverages industry. Lactic Organic Acids Market is expected to witness a favourable growth scenario in the Asia Pacific market as the region has an extensively increasing demand for food and beverages, which are an important application of organic acids.
The Lactic Organic Acids Market is witnessing a comparative leniency in the regulatory and approval norms, which is pushing the market growth forward. These acids are finding increasing use in the pharmaceuticals and cosmetic industry, which is further pushing forward the market growth.
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Top Companies Operating in the Global Lactic Organic Acids Market Report:
Cargill, Aryan International, Novus, BASF SE, Tate Lyle, Dow Chemical Company, Eastman Chemical Company, Corbion, Myriant Corporation, Zhengzhou Best Cooperation.
Key Trends of Lactic Organic Acids Market:
- Growing demand for natural and organic products: Consumers are increasingly demanding natural and organic products, which has led to the increased use of organic acids in food and beverages. Organic acids such as citric acid, lactic acid, and malic acid are commonly used in food and beverage products as natural preservatives, acidulants, and flavor enhancers.
- Increasing use in animal feed: Organic acids such as formic acid and propionic acid are commonly used in animal feed as growth promoters, acidifiers, and preservatives. The demand for organic acids in animal feed is expected to increase as the global population continues to grow, leading to increased demand for meat and dairy products.
- Growing use in pharmaceuticals: Organic acids such as fumaric acid and malic acid are commonly used in pharmaceutical products as excipients, solvents, and pH adjusters. The increasing prevalence of chronic diseases such as cancer and diabetes is expected to drive the demand for organic acids in the pharmaceutical industry.
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To assist readers in making profitable business decisions, the report is written with the help of industry analysts, market segmentation, and data collection. In addition to providing a comprehensive database of technological and product advances, the report provides detailed information on growth rates, market values, as well as niche market segments.
This report analyzes the Lactic Organic Acids Market in terms of growth rate, market share, current and emerging trends, production and consumption ratios, industrial chains, demand and supply, imports, exports, revenue contribution, and key player presences in key regions. As a part of the report, a country-by-country analysis of the Lactic Organic Acids Market is provided to gain a deeper understanding of its growth and progress.
The global Lactic Organic Acids Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Product Type (Revenue, USD Million; 2018–2028)
- Formic Acid
- Citric Acid
- Lactic Acid
- Acetic Acid
- Gluconic Acid
- Itaconic Acid
- Others
- Propionic Acid
- Succinic Acid
- Pyruvic Acid
Source Type (Revenue, USD Million; 2018–2028)
- Biomass
- Molasses
- Starch
- Chemical Synthesis
- Agro-Industrial Residue
Application (Revenue, USD Million; 2018–2028)
- Food and Beverages Industry
- Animal Feed
- Chemical Industry
- Pharmaceuticals
- Personal Care
- Agriculture
- Others
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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