L(+)-Lactic Acid Market research study stipulates a clear overview of the current market including the past and the projected future of market size concerning volume, technological advances, and economic elements in the market industry.

Los Angeles, CA -- (SBWire) -- 04/25/2019 --Lactic acid has a systematic name that is 2-hydroxypropionic acid, which is widely existed in nature. Lactic acid is formed when glucose is broken down for energy in the absence of sufficient oxygen. L(+)-Lactic acid excellent is produced from natural corn starch by advanced bio-fermentation and refining technology. The lactic acid is colorless to yellow liquid, having a mild acid odor and taste.

In global market, the production of L(+)-Lactic acid increases from 467 KMT in 2011 to 530 K MT in 2015, at a CAGR of more than 3.2%. In 2015, the global L(+)-Lactic acid market is led by USA, capturing about 40.13% of global L(+)-Lactic Acid production. China is the second-largest region-wise market with 27.90% global production share. At present, the major manufacturers of L(+)-Lactic acid are concentrated in Corbion, Naturework, Galactic and Henan Jindan Lactic Acid Technology. Corbion is the world leader, holding 30.51% production market share in 2015.

The global L(+)-Lactic acid revenue exceed 575 Million USD in 2015, at a CAGR of about 2% from 2017 to 2022. In application, L(+)-Lactic Acid downstream is wide and recently L(+)-Lactic Acid has acquired increasing significance in various fields of food & beverage, home & personal care, industrial applications and pharmaceutical. and others. Globally, the L(+)-Lactic Acid market is mainly driven by growing demand for industrial applications which accounts for nearly 56.78% of total downstream consumption of L(+)-Lactic Acid in global.

In the future, global market is expected to witness significant growth on account of rising applications, so in the next few years, L(+)-Lactic Acid production will show a trend of steady growth. In 2022 the production of L(+)-Lactic Acid is estimated to be 668 K MT. On product prices, the slow downward trend in recent years will maintain in the future.

The global L(+)-Lactic Acid market was 620 million US$ in 2018 and is expected to 720 million US$ by the end of 2025, growing at a CAGR of 2.0% between 2019 and 2025. This report studies the L(+)-Lactic Acid market size (value and volume) by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.

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Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of L(+)-Lactic Acid in these regions, from 2014 to 2025, covering

North America (United States, Canada and Mexico)

Europe (Germany, UK, France, Italy, Russia and Turkey etc.)

Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)

South America (Brazil etc.)

Middle East and Africa (Egypt and GCC Countries)

The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers. The key manufacturers in this market include

Corbion

Naturework

Galactic

Henan Jindan Lactic Acid Technology

COFCO Biochemical (AnHui)

Musashino Chemical

ADM

Yancheng Haijianuo

Wuhan Sanjiang Space Good Biotech

Shanxi Biochemical

Jungbunzlauer

Zhengzhou Tianrun

Shangdong Fullsail

Tripura Bio Tech Limited

By the product type, the market is primarily split into

Food grade

Industrial grade

Pharmaceutical grade

By the end users/application, this report covers the following segments

Pharmaceutical

Home & personal care

Industrial Applications

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