North America Lactic Acid Market Share by Size and Growth 2027

NORTH AMERICA LACTIC ACID MARKET RD

North America 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 North America lactic acid market is expected to reach US$ 666.25 million in 2027 from US$ 331.65 million in 2019. The market is anticipated to grow at a CAGR of 9.1 % 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 North America 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. US has the highest number of confirmed cases of the COVID-19 morbidity among all North American countries. This is likely to impact the food and beverages industry in the region due to the disruption of supply and distribution chain in North America. 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 North America lactic acid market, by form, in 2019. The food and beverages segment accounted for a larger share of the North America 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 North America lactic acid market include Corbion, Cargill Inc., Foodchem International Corporation, Galactic, Musashino Chemical Laboratory, Ltd., Shandong Baisheng Biotechnology Co., Ltd., Jungbunzlauer Suisse AG, and Vigon International, Inc.

Reasons to buy the report

To understand the North America lactic acid market landscape and identify market segments that are most likely to guarantee a strong return
To stay ahead by comprehending the ever-changing competitive landscape for the lactic acid market
To efficiently plan M&A and partnership deals in the lactic acid market by identifying market segments with most promising probable sales
To take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segments in the lactic acid market
To obtain market revenue forecast for market by various segments from 2017 to 2027

North America Lactic Acid Market Segmentation

By Form

Dry
Liquid

By Application

Food & Beverages
Pharmaceuticals
Personal Care
Others

Company Profiles

Corbion
Cargill Inc.
Foodchem International Corporation
Galactic
Musashino Chemical Laboratory, Ltd.
Shandong Baisheng Biotechnology Co., Ltd.
Jungbunzlauer Suisse AG,
Vigon International, Inc

By Country

US
Canada
Mexico

North America Lactic Acid Market Strategic Insights

North America Lactic AcidMarket Report Highlights

Report Attribute	Details
Market size in 2019	US$ 331.65 Million
Market Size by 2027	US$ 666.25 Million
CAGR (2020 - 2027)	9.1 %
Historical Data	2017-2018
Forecast period	2020-2027
Segments Covered	By Form Dry and Liquid By Application Food & Beverages Pharmaceuticals Personal Care
Regions and Countries Covered
North America	US, Canada, Mexico
Market leaders and key company profiles	Corbion Cargill Inc. Foodchem International Corporation Galactic Musashino Chemical Laboratory, Ltd. Shandong Baisheng Biotechnology Co., Ltd. Jungbunzlauer Suisse AG, Vigon International, Inc

North America Lactic Acid Market Country and Regional Insights

10 Trust & Transparency

Research Methodology

The market analysis combines proprietary research with secondary data from government agencies, company disclosures, regulatory filings, industry databases and expert interviews. Market estimates are validated through data triangulation, cross-market benchmarking and analyst review.

View Full Research Methodology

12 Questions Answered

Frequently Asked Questions

How big is the North America Lactic Acid Market?

The North America Lactic Acid Market is valued at US$ 331.65 Million in 2019, it is projected to reach US$ 666.25 Million by 2027.

What is the CAGR for North America Lactic Acid Market by (2020 - 2027)?

As per our report North America Lactic Acid Market, the market size is valued at US$ 331.65 Million in 2019, projecting it to reach US$ 666.25 Million by 2027. This translates to a CAGR of approximately 9.1 % during the forecast period.

What segments are covered in this report?

The North America Lactic Acid Market report typically cover these key segments-

Form (Dry and Liquid)
Application (Food & Beverages, Pharmaceuticals, Personal Care)

What is the historic period, base year, and forecast period taken for North America Lactic Acid Market?

The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Lactic Acid Market report:

Historic Period : 2017-2018
Base Year : 2019
Forecast Period : 2020-2027

Who are the major players in North America Lactic Acid Market?

The North America Lactic Acid Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:

Corbion
Cargill Inc.
Foodchem International Corporation
Galactic
Musashino Chemical Laboratory, Ltd.
Shandong Baisheng Biotechnology Co., Ltd.
Jungbunzlauer Suisse AG,
Vigon International, Inc

Who should buy this report?

The North America Lactic Acid Market report is valuable for diverse stakeholders, including:

Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.

Essentially, anyone involved in or considering involvement in the North America Lactic Acid Market value chain can benefit from the information contained in a comprehensive market report.