South America Lactic Acid Market

South America Lactic Acid Market by Source (Natural and Synthetic), Application (Bakery, Confectionery, Meat, Poultry and Seafood, Dairy Product, Beverage, Fruits and Vegetable, Others) and Regions (Brazil, Columbia and rest of South America) - Global Industry Analysis, Growth, Share, Size, Trends and Forecast 2021–2028

  • Report ID: FB-1351
  • Author: Growth Market Reports
  • Rating: 4.7
  • Total Reviews: 2
  • No. Of Pages: 174
  • Format:
  • Pub. Date: Upcoming
  • Share:

South America lactic acid market was valued at USD 127.11 million in 2019 and is estimated to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to multi-functionalities and widening application scope of lactic acid.

South America Lactic Acid Market summary

Natural lactic acid is the most demanding type of lactic acid in the market. It is used as a preservative. The definite role of lactic acid within the confectionery segment is the key factor propelling the lactic acid market, which can otherwise be replaced by other organic acids.

Lactate refers to a chemical byproduct of the anaerobic respiration. Lactic acid is also known as a type of organic acid which is produced in the course fermentation. The feedstock used in the production of lactic acid is carbohydrate which can be obtained from sources such as corn starch or tapioca starch and sugarcane. Lactic acid also serves as the building block of polylactic acid and is used in variety of applications like personal care, food & beverages, and pharmaceuticals.

The Covid-19 pandemic had an unpleasant impact on the lactic acid market. It has adversely affected the food and beverages industry as the industry is suffering from supply chain disruptions, the market suffered significant loss; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.

Market Trends, Drivers, Restraints, and Opportunities

  • The changing consumer behaviour and economic development in the country is anticipated to expand the market of lactic acid during the forecast period.
  • Fluctuating raw material prices is likely to have a negative impact; thereby hindering the growth of lactic acid market.
  • R&D investment and technological advancement in lactic acid market are expected to offer lucrative opportunities for the market players.

Scope of the Report

The report on the South America lactic acid market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

South America Lactic Acid Market-Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Source (Natural and Synthetic), Application (Bakery, Confectionery, Meat, Poultry and Seafood, Dairy Product, Beverage, Fruits and Vegetable, Others)

Regional Scope

Brazil, Columbia and rest of South America.

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Corbion NV, Henan Jindan Lactic Acid Co., Ltd., Cargill Incorporated and Galactic

Market Segment Insights

The Natural segment is projected to constitute a large market share

Based on source, the lactic acid market is segregated into natural and synthetic. The natural segment is expected to account for a key share of the market during the forecast period owing to the rising preference for natural and bio-preservatives source and multi-functionalities and prime applications of natural lactic acid.

Food and beverage segment is expected to register a substantial CAGR

Based on application, the lactic acid market is divided into bakery, confectionery, meat, poultry and seafood, dairy product, beverage, fruits and vegetable, others. The beverage segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to its significant applications in the food and beverage industry coupled with the range of functional benefits provided by food acidulates. Furthermore, the rapid growth in the food and beverage sector uplifts the market of lactic acid across the globe.

South America Lactic Acid Market application

Brazil is expected to dominate the market

In terms of regions, the market is broadly classified as Brazil, Columbia and rest of South America. Brazil is anticipated to expand at a robust CAGR during the forecast period. The rising structure of production industries in this region and usage of lactic acid as an ingredient to tailor products strictly in accordance with the consumer needs are anticipated to boost the market growth over the coming years.

Brazil has the third-largest dairy herd in the world behind the European Union and India. Customizing of the many dairy-free or vegan foods in the region requires the usage of lactic acid, which is driving the growth of the market. Increased usage in dairy products, such as cheese and ice cream is boosting the growth of the lactic acid market.
 

Segments

Segments Covered in the Report
The South America lactic acid market has been segmented on the basis of:-
Source

  • Natural
  • Synthetic

Application

  • Bakery
  • Confectionery
  • Meat
  • Poultry
  • Seafood
  • Dairy Product
  • Beverage
  • Fruits and Vegetable
  • Others

Regions

  • Brazil
  • Columbia
  • Rest of South America

Key Companies

  • Corbion NV
  • Henan Jindan Lactic Acid Co., Ltd.
  • Cargill Incorporated
  • Galactic

Competitive Landscape

Key players competing in the South America lactic acid market include Corbion NV, Henan Jindan Lactic Acid Co., Ltd., Cargill Incorporated and Galactic.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.

South America Lactic Acid Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Lactic Acid Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Lactic Acid Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Lactic Acid Market - Supply Chain
  4.5. Global Lactic Acid Market Forecast
     4.5.1. Lactic Acid Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Lactic Acid Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Lactic Acid Market Absolute $ Opportunity
5. Global Lactic Acid Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Lactic Acid Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Lactic Acid Demand Share Forecast, 2019-2026
6. North America Lactic Acid Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Lactic Acid Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Lactic Acid Demand Share Forecast, 2019-2026
7. Latin America Lactic Acid Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Lactic Acid Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Lactic Acid Demand Share Forecast, 2019-2026
8. Europe Lactic Acid Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Lactic Acid Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Lactic Acid Demand Share Forecast, 2019-2026
9. Asia Pacific Lactic Acid Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Lactic Acid Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Lactic Acid Demand Share Forecast, 2019-2026
10. Middle East & Africa Lactic Acid Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Lactic Acid Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Lactic Acid Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Lactic Acid Market: Market Share Analysis
  11.2. Lactic Acid Distributors and Customers
  11.3. Lactic Acid Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Corbion NV
     11.4.2. Henan Jindan Lactic Acid Co., Ltd.
     11.4.3. Cargill Incorporated
     11.4.4. Galactic

Segments Covered in the Report
The South America lactic acid market has been segmented on the basis of:-
Source

  • Natural
  • Synthetic

Application

  • Bakery
  • Confectionery
  • Meat
  • Poultry
  • Seafood
  • Dairy Product
  • Beverage
  • Fruits and Vegetable
  • Others

Regions

  • Brazil
  • Columbia
  • Rest of South America

Key Companies

  • Corbion NV
  • Henan Jindan Lactic Acid Co., Ltd.
  • Cargill Incorporated
  • Galactic

Key players competing in the South America lactic acid market include Corbion NV, Henan Jindan Lactic Acid Co., Ltd., Cargill Incorporated and Galactic.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.

South America Lactic Acid Market keyplayers

Buy Report