North America Lactic Acid Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.90 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Lactic Acid Market Analysis
The North America lactic acid market is expected to register a CAGR of 8.9%, during the forecast period, 2020 - 2025.
- Natural lactic acid has been the most in-demand type of lactic acid in the market. Its
use as a preservative has been well known since ages. With the trending concept
of natural, bio-preservatives are gaining momentum. - Distinct role of lactic acid within the confectionery segment has been a driving factor for lactic acid market, which can otherwise be replaced by other organic acids.
North America Lactic Acid Market Trends
This section covers the major market trends shaping the North America Lactic Acid Market according to our research experts:
Role of Lactic Acid in Sugar Confectionery
Confectionery remains one of the most popular application categories for citric and lactic acid. Buffered citric acid is often added in the molten mass (after cooking) of hard candies, since it helps prevent browning and also in inversion of sucrose. Lactic acid is especially beneficial in confectionery products to reduce sugar inversion in hard candies and gelatine degradation in soft candies.
United States Holds the Largest Market Share
United States is expected to hold the largest market share during the forecast period, owing to the increased usage of lactic acid in a number of end-use applications and the high level of consumer awareness within the country. The increasing number of consumers in the market who depict a willingness to pay a premium to source organic lactic acid category is also driving growth in the region. The sustainable production of lactic acid has proven to be a big opportunity for the lactic acid market as depending on plant source, less energy requirement, low cost, and eco-friendly benefits. The substitute for the acid market in food sector is a big challenge for the market.
North America Lactic Acid Industry Overview
The North America lactic acid market is fragmented. The major competitors prefer investment in new product development and marketing strategy, due to volatility in commodity costs to maintain their position. Some of the major players in the North America lactic acid market are Corbion NV, Cellulac, Galactic, Cargill, Kemin Industries Inc., among others.
North America Lactic Acid Market Leaders
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Corbion NV
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Cellulac
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Galactic
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DuPont
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Cargill
*Disclaimer: Major Players sorted in no particular order
North America Lactic Acid Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions and 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 Source
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5.1.1 Natural
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5.1.2 Synthetic
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5.2 Application
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5.2.1 Meat, Poultry, and Fish
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5.2.2 Beverage
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5.2.3 Confectionery
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5.2.4 Bakery
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5.2.5 Fruits and Vegetable
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5.2.6 Dairy
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5.3 Geography
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5.3.1 United States
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5.3.2 Canada
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5.3.3 Mexico
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5.3.4 Rest of North America
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Market Share Analysis
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6.3 Company Profiles
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6.3.1 Corbion NV
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6.3.2 Cellulac
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6.3.3 Galactic
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6.3.4 DuPont
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6.3.5 Cargill
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6.3.6 NingXia Hypow Bio-Technology Co. Ltd
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6.3.7 Henan Jindan Lactic Acid Co. Ltd
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6.3.8 Kemin Industries Inc.
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Lactic Acid Industry Segmentation
The North America 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 | |
| Beverage | |
| Confectionery | |
| Bakery | |
| Fruits and Vegetable | |
| Dairy |
| Geography | |
| United States | |
| Canada | |
| Mexico | |
| Rest of North America |
North America Lactic Acid Market Research FAQs
What is the current North America Lactic Acid Market size?
The North America Lactic Acid Market is projected to register a CAGR of 8.90% during the forecast period (2024-2029)
Who are the key players in North America Lactic Acid Market?
Corbion NV, Cellulac, Galactic, DuPont and Cargill are the major companies operating in the North America Lactic Acid Market.
What years does this North America Lactic Acid Market cover?
The report covers the North America Lactic Acid Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Lactic Acid Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Lactic Acid Industry Report
Statistics for the 2024 North America Lactic Acid market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Lactic Acid analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
