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South America Lactic Acid Market Size (2024 - 2029)

The South America lactic acid market is experiencing growth, driven by the increasing demand for natural lactic acid, particularly as a bio-preservative. This trend aligns with the rising consumer preference for natural products. The market's expansion is further supported by the unique application of lactic acid in the confectionery sector, where it holds a distinct position compared to other organic acids.

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Market Size of South America Lactic Acid Industry

South America Lactic Acid Market Overview
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 7.40 %
Market Concentration Low

Major Players

South America Lactic Acid Market Major Players

*Disclaimer: Major Players sorted in no particular order

South America Lactic Acid Market Analysis

South America Lactic Acid Market is projected to register a CAGR of 7.4%, 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 for ages. With the trending concept
    of natural, bio-preservatives are gaining momentum.
  • The distinct role of lactic acid within the confectionery segment has been a driving factor for the lactic acid market, which can otherwise be replaced by other organic acids.

South America Lactic Acid Industry Segmentation

South America Lactic Acid Market is segmented by source, application, and geography. On the basis of source, the market is segmented by natural and synthetic. On the basis of application, the market is segmented into bakery, confectionery, meat, poultry and seafood, dairy product, beverages, fruits and vegetables, and others. Based on geography, the report provides a regional analysis, which includes Brazil, Columbia, and the rest of South America.

By Source
Natural
Synthetic
By Application
Bakery
Confectionery
Meat, Poultry and Seafood
Dairy Product
Beverage
Fruits and Vegetable
Others
By Geography
Brazil
Columbia
Rest of South America
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South America Lactic Acid Market Size Summary

The South America lactic acid market is experiencing significant growth, driven by the increasing demand for natural lactic acid, particularly in the food and beverage industry. This demand is largely attributed to the rising trend of bio-preservatives, which are gaining popularity due to their natural origins. Lactic acid's unique role in the confectionery segment further propels its market demand, despite the availability of alternative organic acids. The food acidulants market in South America is bolstered by the diverse functional properties of lactic acid, which make it a crucial ingredient in various food and beverage products. The region's economic development and evolving consumer preferences contribute to its status as a promising market for food acidulants, enhancing the overall consumption of lactic acid.

Brazil stands out as a key player in the South American lactic acid market, benefiting from its robust production industries and the need to cater to specific consumer demands, such as dairy-free or vegan products. The country's substantial dairy herd supports the increased use of lactic acid in dairy products like ice cream and cheese, further driving market growth. Major competitors in the market focus on new product development, expanding application areas, and strategic marketing to navigate commodity cost volatility. Companies are also prioritizing energy efficiency and cost reduction as competitive strategies. Prominent market players include Corbion NV, Cargill, Incorporated, and Galactic, among others, who are actively investing in these areas to maintain their market positions.

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South America 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 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Source

      1. 2.1.1 Natural

      2. 2.1.2 Synthetic

    2. 2.2 By Application

      1. 2.2.1 Bakery

      2. 2.2.2 Confectionery

      3. 2.2.3 Meat, Poultry and Seafood

      4. 2.2.4 Dairy Product

      5. 2.2.5 Beverage

      6. 2.2.6 Fruits and Vegetable

      7. 2.2.7 Others

    3. 2.3 By Geography

      1. 2.3.1 Brazil

      2. 2.3.2 Columbia

      3. 2.3.3 Rest of South America

South America Lactic Acid Market Size FAQs

The South America Lactic Acid Market is projected to register a CAGR of 7.40% during the forecast period (2024-2029)

Corbion NV, Henan Jindan Lactic Acid Co., Ltd., Cargill, Incorporated and Galactic are the major companies operating in the South America Lactic Acid Market.

South America Lactic Acid Report Snapshots

South America Lactic Acid Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)