MIDDLE EAST & AFRICA LACTIC ACID MARKET RD
Middle East & Africa Lactic Acid Market Forecast to 2027 – Covid-19 Impact and Regional Analysis - by Form (Dry and Liquid); Application (Food & Beverages, Pharmaceuticals, Personal Care and Others) and Country
Pages: 66
Market Introduction
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.
Market Overview and Dynamics
The Middle East & Africa lactic acid market is expected to reach US$ 167.67 million in 2027 from US$ 80.28 million in 2019. The market is anticipated to grow at a CAGR of 9.7 % 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.
Effect of covid-19 on Middle East & Africa lactic acid market
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. South Africa has the highest number of confirmed cases of the COVID-19 morbidity among all Middle East & African countries. This is likely to impact the food and beverages industry in the region due to the disruption of supply and distribution chain in Middle East & Africa. In addition, the lockdown scenarios are also impacting the overall manufacturing processes, research, and development activities pertaining to different industries.
Key Market Segments
The dry lactic acid segment accounted for a larger share of the Middle East & Africa lactic acid market, by form, in 2019. The food and beverages segment accounted for a larger share of the Middle East & Africa lactic acid market, by application, in 2019.
Major Sources and Companies Listed
A few of the major primary and secondary sources referred to while preparing this report on the Middle East & Africa lactic acid market include Corbion, Cargill Inc., Foodchem International Corporation, Galactic, Musashino Chemical Laboratory, Ltd., Shandong Baisheng Biotechnology Co., Ltd., and Jungbunzlauer Suisse AG.
Reasons to buy the report
Middle East & Africa Lactic Acid Market Segmentation
By Form
By Application
Company Profiles
By Country
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 80.28 Million |
| Market Size by 2027 | US$ 167.67 Million |
| CAGR (2020 - 2027) | 9.7 % |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Form
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East & Africa Lactic Acid Market is valued at US$ 80.28 Million in 2019, it is projected to reach US$ 167.67 Million by 2027.
As per our report Middle East & Africa Lactic Acid Market, the market size is valued at US$ 80.28 Million in 2019, projecting it to reach US$ 167.67 Million by 2027. This translates to a CAGR of approximately 9.7 % during the forecast period.
The Middle East & Africa 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 Middle East & Africa Lactic Acid Market report:
The Middle East & Africa Lactic Acid Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Lactic Acid Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Lactic Acid Market value chain can benefit from the information contained in a comprehensive market report.
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