North America Lactic Acid Market is segmented By Source (Natural Sources, Synthetic Sources), By Application (Food and Beverages, Biodegradable Plastics and Polymers, Chemical Industry, Personal Care Products, Others), and By Country (USA, Canada, Mexico) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
North America Lactic Acid Market Overview
The "North America Lactic Acid Market" is expected to grow at a CAGR of 16.03% during 2023-2030.
North America Lactic acid is a white chemical that is water soluble in its solid form and colorless in its liquid form. Lactic acid is created in the industry by fermentation by lactic acid bacteria, which transforms carbohydrates such as glucose, galactose, and sucrose into lactic acid.
Lactic acid has several uses. It is used to manufacture yoghurt and cheese in the dairy industry. It is used in the textile industry as a humectant to increase the moisture in the cloth so that colors can adhere to it. It is used in the tanning process of leather. It is used to make lacquers and inks. It is utilized as a starting ingredient in the pharmaceutical business to manufacture other compounds. Its versions have been allowed as food additives in a number of countries. It is commonly utilized in the preparation of numerous dishes
The rising use of shampoos, creams, and body care products, growing pharmaceutical industry, growing petrochemical products, rising awareness among people about recyclability and sustainability, and an increasing number of bioplastic applications are among the factors driving the North America Lactic Acid market. However, the primary constraints that this sector faces are the high price of PLA in comparison to other traditional polymers and the volatility of raw material prices like as maize and sugar.
North America Lactic Acid Market Scope
|
Metrics |
Details |
|
CAGR |
16.03% |
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Size Available for Years |
2021-2030 |
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Forecast Period |
2023-2030 |
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Data Availability |
Value (US$) |
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Segments Covered |
Source, Application |
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Countries Covered |
USA, Canada, Mexico |
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Largest Country |
USA |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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North America Lactic Acid Market Trends
Role of Lactic Acid in Sugar Confectionery
Confectionery is still one of the most common uses for citric and lactic acid. Buffered citric acid is often added to the molten mass (after heating) of hard candies to assist avoid browning and sucrose inversion. Lactic acid is particularly useful in confectionery items because it reduces sugar inversion in hard candies and gelatine deterioration in soft sweets.
North America Lactic Acid Market Segmentation Analysis
The North America lactic acid market is segmented by source and application. Based on source, the market is segmented into natural and synthetic. Based on application, the market is segmented into food and beverages, Biodegradable Plastics and Polymers, Chemical Industry, Personal Care Products, and Others; regional Analysis into United States, Canada, and Mexico.
- On the basis of application, the food and beverage segment dominated the North American lactic acid market, while the personal care segment is anticipated to grow at the quickest rate between 2023 and 2030. Lactic acid is utilized in numerous culinary industries, including baked goods, beverages, fermented meat, candy, dairy products, salads, condiments, and ready-to-eat meals. Moreover, lactic acid is preferred over synthetic compounds in the food and beverage industry because it alters the flavor, texture, or characteristics of products to increase their expiration life. Lactic acids are utilized in the dairy industry to coagulate milk and create cheese flavors. In the brewing industry, however, lactic acid increases the conversion of glucose in beer, resulting in a higher yield. Thus, these factors are anticipated to contribute to the expansion of the lactic acid market in the food and beverage sector.
North America Lactic Acid Market Regional Insights
- United States
- Canada
- Mexico
United States Holds the Largest Market Share
The United States is predicted to have the largest market share throughout the projection period, due to rising lactic acid use in a variety of end-use applications and the country's high level of consumer awareness. The growing number of market customers who are prepared to pay a premium to acquire organic lactic acid is also driving expansion in the area. The sustainable manufacturing of lactic acid has shown to be a significant potential for the lactic acid industry since it requires less energy, is less expensive, and is more environmentally friendly. The acid replacement industry in the food sector is a significant problem for the business.
North America Lactic Acid Market Key Companies
The major companies operating in the North America Lactic Acid market are Cargill, Incorporated., Corbion NV, Henan Jindan Lactic Acid Technology Co., Ltd, and DuPont de Nemour Inc.
