Europe Lactic Acid Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.70 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Lactic Acid Market Analysis
The Europe Lactic Acid Market is projected to grow at a CAGR of 7.7% during the forecast period.
- Lactic acid possesses various peculiar characteristics, which have different roles to be played in various food segments.
- Moreover, the functional properties of lactic acid and favorable government policies regarding the production of lactic acids, such as The European Commission has proposed lactic acid as an 'extra' safety tool to reduce further trace microbial contamination on bovine carcasses, are likely to positively impact the European lactic acid market over the forecast time period.
Europe Lactic Acid Market Trends
This section covers the major market trends shaping the Europe Lactic Acid Market according to our research experts:
Growing Demand For Processed Food
Advancements in the food processing industry and innovation in processing technology have led to continuous growth in the demand for processed food. Various types of preservatives are added into these products to improve the shelf life and overall quality of the food product. Lactic acid has its wide scope of application in the food and beverage industry coupled with the range of functional benefits and thus driving the lactic acid market. Lactic acid is used as a food preservative, curing agent, and flavoring agent. It is an ingredient in processed foods and is used as a decontaminant during meat processing.
United Kingdom Holds the Maximum Share in the Market
The changing and busy lifestyles of consumers due to rapid urbanization led to high demand for processed and convenience products. The major driver for the market is an increased demand for lactic acid in meat and other food applications, availability of cheap raw materials, innovation in technology, and strong support of big manufacturing companies in the region. Increasing population, high purchasing power, and growing awareness, as well as changing perception towards healthy features of natural products are propelling the demand and consumption of organic acids such as lactic acid across Europe.
Europe Lactic Acid Industry Overview
Europe's lactic acid market is consolidated and major players in the market hold the majority of the share in the market. The key players in the market are Corbion, DuPont, Galactic, and Vigon International, Inc. among others. The major competitors prefer investment in new product development and marketing strategy due to volatility in commodity costs to maintain their position.
Europe Lactic Acid Market Leaders
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Corbion N.V.
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DuPont de Nemours, Inc.
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Galactic
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Gremount International Company Limited
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Vigon International, Inc.
*Disclaimer: Major Players sorted in no particular order
Europe Lactic Acid Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions & Market Definition
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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3.1 Market Overview
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Source
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5.1.1 Natural
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5.1.2 Synthetic
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5.2 By Application
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5.2.1 Bakery
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5.2.2 Confectionery
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5.2.3 Dairy
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5.2.4 Beverages
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5.2.5 Meat, Poultry and Fish
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5.2.6 Fruits and Vegetables
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5.3 Geography
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5.3.1 Europe
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5.3.1.1 United Kingdom
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5.3.1.2 France
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5.3.1.3 Germany
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5.3.1.4 Italy
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5.3.1.5 Russia
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5.3.1.6 Spain
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5.3.1.7 Rest of Europe
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Market Share Analysis
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6.4 Company Profiles
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6.4.1 DECACHIMIE S.A.
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6.4.2 Gremount International Company Limited
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6.4.3 Vigon International, Inc.
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6.4.4 Corbion N.V.
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6.4.5 DuPont de Nemours, Inc.
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6.4.6 Galactic
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Europe Lactic Acid Industry Segmentation
Europe lactic acid market is segmented by the source that includes natural and synthetic, Based on food application, the market is divided into bakery, confectionery, dairy, beverage, meat, poultry and fish and fruit and vegetable. The study also involves the analysis of regions such as the United Kingdom, Germany, France, Italy, Spain, Russia and the rest of Europe.
| By Source | |
| Natural | |
| Synthetic |
| By Application | |
| Bakery | |
| Confectionery | |
| Dairy | |
| Beverages | |
| Meat, Poultry and Fish | |
| Fruits and Vegetables |
| Geography | |||||||||
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Europe Lactic Acid Market Research FAQs
What is the current Europe Lactic Acid Market size?
The Europe Lactic Acid Market is projected to register a CAGR of 7.70% during the forecast period (2024-2029)
Who are the key players in Europe Lactic Acid Market?
Corbion N.V., DuPont de Nemours, Inc., Galactic, Gremount International Company Limited and Vigon International, Inc. are the major companies operating in the Europe Lactic Acid Market.
What years does this Europe Lactic Acid Market cover?
The report covers the Europe Lactic Acid Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Lactic Acid Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Lactic Acid Industry Report
Statistics for the 2024 Europe Lactic Acid market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Lactic Acid analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
