L(+)-Lactic Acid Market Growth By Regional Analysis (America, Europe, Asia Pacific, and Middle East & Africa) Growth Opportunity and Industry Forecast 2023-2030 (Financial Impact Analysis)
ID : MRU_
115299 | Date :
Feb, 2023 | Pages :
186 | Region : Global |
Publisher : Ri research
The report offers detailed coverage of L(+)-Lactic Acid industry and main market trends. The market research includes historical and forecast market data, demand, application details, price trends, and company shares of the leading L(+)-Lactic Acid by geography. The report splits the market size, by volume and value, on the basis of application type and geography.
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 report forecast global L(+)-Lactic Acid market to grow to reach xxx Million USD in 2023 with a CAGR of xx% during the period 2023-2030.
First, this report covers the present status and the future prospects of the global L(+)-Lactic Acid market for 2018-2030.
And in this report, we analyze global market from 5 geographies: Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia], Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland], North America[United States, Canada, Mexico], Middle East & Africa[GCC, North Africa, South Africa], South America[Brazil, Argentina, Columbia, Chile, Peru].
Key Companies
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
At the same time, we classify L(+)-Lactic Acid according to the type, application by geography. More importantly, the report includes major countries market based on the type and application.
Market Segment as follows: Market by Order Type
Food grade
Industrial grade
Pharmaceutical grade Market by Application
Pharmaceutical
Home & personal care
Industrial Applications
Food & Beverage
Others
By Region
Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia]
Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
North America[United States, Canada, Mexico]
Middle East & Africa[GCC, North Africa, South Africa]
South America[Brazil, Argentina, Columbia, Chile, Peru]
The research provides answers to the following key questions:
• What is the estimated growth rate and market share and size of the L(+)-Lactic Acid market for the forecast period 2023 - 2030?
• What are the driving forces in the L(+)-Lactic Acid market for the forecast period 2023 - 2030?
• Who are the prominent market players and how have they gained a competitive edge over other competitors?
• What are the market trends influencing the progress of the L(+)-Lactic Acid industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the market hold for the prominent market players?
The Market Research Update offers technology-driven solutions and its full integration in the research process to be skilled at every step. We use diverse assets to produce the best results for our clients. The success of a research project is completely reliant on the research process adopted by the company. Market Research Update assists its clients to recognize opportunities by examining the global market and offering economic insights. We are proud of our extensive coverage that encompasses the understanding of numerous major industry domains.
Market Research Update provide consistency in our research report, also we provide on the part of the analysis of forecast across a gamut of coverage geographies and coverage. The research teams carry out primary and secondary research to implement and design the data collection procedure. The research team then analyzes data about the latest trends and major issues in reference to each industry and country. This helps to determine the anticipated market-related procedures in the future. The company offers technology-driven solutions and its full incorporation in the research method to be skilled at each step.
The Company's Research Process Has the Following Advantages:
Information Procurement
The step comprises the procurement of market-related information or data via different methodologies & sources.
Information Investigation
This step comprises the mapping and investigation of all the information procured from the earlier step. It also includes the analysis of data differences observed across numerous data sources.
Highly Authentic Source
We offer highly authentic information from numerous sources. To fulfills the client’s requirement.
Market Formulation
This step entails the placement of data points at suitable market spaces in an effort to assume possible conclusions. Analyst viewpoint and subject matter specialist based examining the form of market sizing also plays an essential role in this step.
Validation & Publishing of Information
Validation is a significant step in the procedure. Validation via an intricately designed procedure assists us to conclude data-points to be used for final calculations.
We are flexible and responsive startup research firm. We adapt as your research requires change, with cost-effectiveness and highly researched report that larger companies can't match.
Information Safety
Market Research Update ensure that we deliver best reports. We care about the confidential and personal information quality, safety, of reports. We use Authorize secure payment process.
We Are Committed to Quality and Deadlines
We offer quality of reports within deadlines. We've worked hard to find the best ways to offer our customers results-oriented and process driven consulting services.
Our Remarkable Track Record
We concentrate on developing lasting and strong client relationship. At present, we hold numerous preferred relationships with industry leading firms that have relied on us constantly for their research requirements.
Best Service Assured
Buy reports from our executives that best suits your need and helps you stay ahead of the competition.
Customized Research Reports
Our research services are custom-made especially to you and your firm in order to discover practical growth recommendations and strategies. We don't stick to a one size fits all strategy. We appreciate that your business has particular research necessities.
Service Assurance
At Market Research Update, we are dedicated to offer the best probable recommendations and service to all our clients. You will be able to speak to experienced analyst who will be aware of your research requirements precisely.
