Asia Pacific Lactic Acid Market
No. of Pages: 73 | Report Code: TIPRE00020107 | Category: Chemicals and Materials
No. of Pages: 73 | Report Code: TIPRE00020107 | Category: Chemicals and Materials
Pages: 73
Lactic acid also known as lactate refers to a chemical byproduct of the anaerobic respiration. It also is a type of organic acid which is obtained during fermentation. The feedstock employed in the production of lactic acid is carbohydrate which can be obtained from sources such as sugarcane, corn starch or tapioca starch. Lactic acid also serves as the building block of polylactic acid and is used in variety of applications like food & beverages, personal care and pharmaceuticals.
The Asia Pacific lactic acid market is expected to reach US$ 598.38 million in 2027 from US$ 280.57 million in 2019. The market is anticipated to grow at a CAGR of 10.0 % from 2020 to 2027. Factors driving the market growth widening application scope and multi-functionalities of lactic acid. However, fluctuating raw material prices is likely to have a negative impact on the market growth.
The ongoing COVID-19 outbreak began in Wuhan (China) in December 2019, but later it spread to all the parts of the world. It has adversely affected the food and beverages industry as the industry is suffering from supply chain disruptions, lockdowns, travel bans, and business shutdowns called in various countries. India has the highest number of confirmed cases of the COVID-19 morbidity among all Asia Pacific countries. This is likely to impact the food and beverages industry in the region due to the disruption of supply and distribution chain in Asia Pacific. In addition, the lockdown scenarios are also impacting the overall manufacturing processes, research, and development activities pertaining to different industries.
The dry lactic acid segment accounted for a larger share of the Asia Pacific lactic acid market, by form, in 2019. The food and beverages segment accounted for a larger share of the Asia Pacific lactic acid market, by application, in 2019.
A few of the major primary and secondary sources referred to while preparing this report on the Asia Pacific lactic acid market include Corbion, Cargill Inc., Foodchem International Corporation, Galactic, Henan Xinghan Biotechnology, Musashino Chemical Laboratory, Ltd., Shandong Baisheng Biotechnology Co., Ltd., Jungbunzlauer Suisse AG and Henan Jindan Lactic Acid Technology Co., Ltd.
Strategic insights for the Asia Pacific Lactic Acid provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 280.57 Million |
| Market Size by 2027 | US$ 598.38 Million |
| Global CAGR (2020 - 2027) | 10.0 % |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Form
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Lactic Acid refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Asia Pacific Lactic Acid Market is valued at US$ 280.57 Million in 2019, it is projected to reach US$ 598.38 Million by 2027.
As per our report Asia Pacific Lactic Acid Market, the market size is valued at US$ 280.57 Million in 2019, projecting it to reach US$ 598.38 Million by 2027. This translates to a CAGR of approximately 10.0 % during the forecast period.
The Asia Pacific Lactic Acid Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Lactic Acid Market report:
The Asia Pacific Lactic Acid Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Lactic Acid Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Lactic Acid Market value chain can benefit from the information contained in a comprehensive market report.
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