South America Lactic Acid Market - By Product Type, Application and Geography-Market Shares, Forecasts And Trends (2015 â€“ 2020)
The South America lactic acid market was XX million US$ in 2014 and expected to reach XX million US$ by 2020 growing at a CAGR of XX% during the forecasted period 2015-2020. Lactic acid are more popular acid being used in the food industries. Lactic acid are the weak organic acid that can be produced by biochemical or chemical process but the biochemical process being sustainable are in high demand. The biochemical process which involves the bacterial fermentation of carbohydrates to produce lactic acid and is then finally purified to get the pure form.
The major driver for the market are increased demand in meat and other foods applications of lactic acid, availability of cheap raw materials, and the regulatory environment. The low cost of raw materials such as molasses, starch, sugarcane, and other carbohydrates for production are important factor in lowering the production costs and supporting the market. Also these raw materials are abundant and easily available in the domestic regions for production which is driving the market. However the high capital investment in production and purification technology are affecting the market growth. The volatility in the raw material costs are another factor which led to increase in product price in the market.
The market segmentation of lactic acid includes the application type, function type, source type and by geography. Further market is segmented on the application type on different sectors as meat, poultry and fish, dairy, beverages, fruits and vegetables, bakery and confectionery. Dairy and meat products applications consists of high demand among others in application segment. The market segmentation on the source type consists of natural and synthetic source. The natural source type is further sub segmented into milk source or plant source. Plant source being cheaper and easily available dominates the production market. Lactic acid market segmentation on the function type in food and beverages includes its function as preservative, pH regulator, antimicrobial agent, flavour and mineral fortification. Lactic acid is more commonly used as pH regulator in various foods and as an antimicrobial agent in meat and poultry products.
The sustainable production of lactic acid, technological enhancement and the involvement of major company in the market has proven to be a big opportunity for the lactic acid market. The key players in the market are Purac, Galactic, Cargill, Henan Jindan Lactic Acid Co., Ltd.,ADM, Corbion, among others. The major competitors prefers investment in new product development, widening the application market, and marketing strategy due to volatility in commodity costs to maintain their position. The company targeting on the less energy consumption and lowering the production cost as a competitive strategy in the market.
Market analysis for the South America Lactic acid Market, with region specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the global Lactic acid market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
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