logo

Asia-Pacific Lactic Acid Market Size (2024 - 2029)

The Asia-Pacific lactic acid market is experiencing significant growth, driven by increasing demand in the food and beverage industry and advancements in technology. Lactic acid's functional properties make it a vital ingredient in various applications within this sector. The market's expansion is particularly notable in China and Japan, with China leading as the largest producer and exporter in the region.

Home Market Analysis Food & Beverage Research Food Ingredients and Food Additives Research Functional Food Ingredients Research Lactic Acid Research Asia-Pacific Lactic Acid Market Market Size

Market Size of Asia-Pacific Lactic Acid Industry

Asia-Pacific Lactic Acid Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 8.70 %
Market Concentration Low

Major Players

rd-img

*Disclaimer: Major Players sorted in no particular order

APAC Lactic Acid Market Analysis

The Asia-Pacific lactic acid market is anticipated to witness a CAGR of 8.7% over the forecast period, 2020-2025.

  • Demand for lactic acid in the food and beverage industry is growing with the emergence of new technology and the growing demand in applications. Due to various functional properties of lactic acid, it is used as a critical ingredient in food and beverage products.
  • Lactic acid is commercially available in various grades depending upon its purity. China and Japan are the major markets for lactic acid in the region. China is the largest exporter and producer of lactic acid in the Asian market and the second-largest exporter worldwide.

APAC Lactic Acid Industry Segmentation

The Asia-Pacific lactic acid market is segmented by source and application. On the basis of source, the market is segmented into natural and synthetic. On the basis of application, the market is segmented into meat, poultry and fish, beverages, confectionery, bakery, fruits and vegetables, and dairy. The market is also segmented by geography.

Source
Natural
Synthetic
Application
Meat, Poultry, and Fish
Beverages
Confectionery
Bakery
Fruits and Vegetable
Dairy
Geography
China
Japan
India
Australia
Rest of Asia-Pacific
Need A Different Region Or Segment?
Customize Now

Asia-Pacific Lactic Acid Market Size Summary

The Asia-Pacific lactic acid market is poised for significant growth, driven by increasing demand in the food and beverage industry. This demand is fueled by advancements in technology and the expanding applications of lactic acid, which is valued for its functional properties. The market is characterized by the availability of lactic acid in various grades, depending on purity, with China and Japan leading as major markets. China stands out as the largest producer and exporter of lactic acid within the region and holds a prominent position globally. The market's expansion is supported by the availability of cost-effective raw materials such as molasses, starch, and sugarcane, which are abundant in the region, thereby reducing production costs and enhancing market growth.

The Asia-Pacific lactic acid market benefits from the robust growth of the food and beverage sector, which is a key driver for the global acidulants market. The region's economic development and evolving consumer preferences further bolster the demand for lactic acid, particularly in food and beverage applications. Major industry players, including Henan Jindan, Corbion NV, and others, are focusing on new product development and strategic marketing to navigate commodity cost volatility. Henan Jindan, in particular, leverages advanced membrane technology to enhance production efficiency and reduce energy consumption. This competitive landscape, coupled with the strategic investments by key players, underscores the promising growth trajectory of the lactic acid market in the Asia-Pacific region.

Explore More

Asia-Pacific Lactic Acid Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Source

      1. 2.1.1 Natural

      2. 2.1.2 Synthetic

    2. 2.2 Application

      1. 2.2.1 Meat, Poultry, and Fish

      2. 2.2.2 Beverages

      3. 2.2.3 Confectionery

      4. 2.2.4 Bakery

      5. 2.2.5 Fruits and Vegetable

      6. 2.2.6 Dairy

    3. 2.3 Geography

      1. 2.3.1 China

      2. 2.3.2 Japan

      3. 2.3.3 India

      4. 2.3.4 Australia

      5. 2.3.5 Rest of Asia-Pacific

Asia-Pacific Lactic Acid Market Size FAQs

The Asia-Pacific Lactic Acid Market is projected to register a CAGR of 8.70% during the forecast period (2024-2029)

Corbion NV, Henan Jindan Lactic Acid Technology Co., Ltd, Cellulac, Galactic and DuPont are the major companies operating in the Asia-Pacific Lactic Acid Market.

Asia-Pacific Lactic Acid Report Snapshots

Asia-Pacific Lactic Acid Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)