The Asia Pacific lactic acid market accounted for US$ 280.57 million in 2019, and is expected to reach US$ 598.38 million by 2027, it is estimated to grow at a CAGR of 10.0% during 2020–2027.
Lactic acid is an organic acid produced during the process of fermentation. It is used in various industries including food & beverages, pharmaceuticals, personal care, and biodegradable polymers. The multi-functionalities of lactic acid render its use in various industries. In the food & beverages industry, lactic acid is used as a preservative, curing agent, and flavoring agent. Surging demand for processed food in Asia Pacific is boosting the application of lactic acid in the food industry. In meat, poultry, & seafood products, it is majorly used as a decontaminant. In the personal care industry, lactic acid is mainly used in anti-ageing and skin lightening products as it treats hyperpigmentation and age spots. Lactic acid, an essential organic acid produced by lactic acid bacteria, finds application in various industries, such as food & beverages, textile, personal care & cosmetics, and pharmaceuticals. It is naturally present in several foodstuffs. It is used in an extensive range of food applications, including bakery & confectionery products, dairy products, meat products, and beverages. Lactic acid is also used in the dairy industry in making cheese and yogurt. Lactic acid is used in food products, primarily as a pH regulator, preservative, and flavoring agent. Polylactic acid, an aliphatic polyester-based thermoplastic biopolymer, is majorly used for textile applications, including household as well as industrial wipes, diapers, and disposable garments. Furthermore, lactic acid is used to formulate cleansing products, shampoos, moisturizers, hair dyes, and other skin care and hair care products in the personal care & cosmetics industry.
Based on form, the Asia Pacific lactic acid market is segmented into dry and liquid. In 2019, the dry segment dominated the market. It is also projected to register the highest CAGR during the forecast period. The lactic acid powder refers to a natural L-lactic acid powder obtained from the fermentation of glucose. It is a mixture of lactic acid and L-calcium lactate. It is present as a white granule or powder of moderate and pure acidity, soluble in hot water and provide enhanced taste. It is also used as a food or feed additive; it can enhance the taste of food and prolong the shelf life of food. It is commonly used in frozen food, pasta, rice, pastry, feed, and other industries as a food flavor enhancer. It is suitable for the control of acidity of various solid and powdered foods. Its excellent pH value control and bacteriostasis capability would effectively inhibit the growth of microorganisms and prolong the shelf life of food. For instance, Mezzoni Foods produces dry lactic acid powder, which is formed by fermentation of lactic acid with non-GMO ingredients. The white powder is available in 25 lb polyethylene lined paper sacks.
The lactic acid market in Asia Pacific is segmented into Australia, China, India, Japan, South Korea, and Rest of Asia Pacific. Consumer shift toward lactic acid is mainly attributed to rising environmental concerns. Furthermore, the demand for lactic acid in the food & beverages industry is rising with the advent of new technologies and increase in number of applications. Owing to the different functional properties of lactic acid, it is used as a vital ingredient in food & beverages. Further, lactic acid is commercially available in different grades depending on its purity. China, India, and Japan are the main markets for lactic acid in the region. China is the largest exporter and manufacturer of lactic acid in the region and the second-largest exporter in the world. Rising usage of lactic acid in various applications, such as food & beverages, pharmaceuticals, and personal care, has resulted in increasing demand for lactic acid, which is anticipated to boost the growth of the market in APAC. Increasing demand for lactic acid and polylactic acid in the textile industry would also contribute to the growth of the sector. All these factors together are fueling the demand for lactic acid in the region. Countries such as China, Japan, Australia, and South Korea, are major importers of lactic acid. This has helped the market expansion in the region.
Corbion; Cargill Inc.; Foodchem International Corporation; Galactic; Henan Xinghan Biotechnology; Musashino Chemical Laboratory, Ltd.; Shandong Baisheng Biotechnology Co., Ltd.; Jungbunzlauer Suisse AG; and Henan Jindan Lactic Acid Technology Co., Ltd. are among the major players operating in the Asia Pacific lactic acid market.
The COVID-19 outbreak started in Wuhan, China, in December 2019. As of February 2021, India, Japan, China and Australia are among the worst-affected countries in terms of COVID-19 confirmed cases and reported deaths. The pandemic is hindering economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdowns in the food & beverages industry and disruptions in supply chains are limiting supplies of various products. Russia has the highest number of confirmed cases across Asia Pacific. The shutdown of many food processing plants during lockdown is restraining the growth of the lactic acid market in Asia Pacific.
The overall Asia Pacific lactic acid market size has been derived in accordance to both primary and secondary source. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate data, as well as to gain more analytical insights into the topic. The participants who typically involved in the process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the Asia Pacific lactic acid market.