Europe Lactic Acid Market – Growth, Trends, and Forecast (2020 - 2025)
The Europe Lactic Acid Market is projected to grow at a CAGR of 7.7% during the forecast period.
- Lactic acid possesses various peculiar characteristics, which have different roles to be played in various food segments.
- Moreover, the functional properties of lactic acid and favorable government policies regarding the production of lactic acids, such as The European Commission has proposed lactic acid as an “extra” safety tool to reduce further trace microbial contamination on bovine carcasses, are likely to positively impact the European lactic acid market over the forecast time period.
Key Market Trends
Growing Demand For Processed Food
Advancements in the food processing industry and innovation in processing technology have led to continuous growth in the demand for processed food. Various types of preservatives are added into these products to improve the shelf life and overall quality of the food product. Lactic acid has its wide scope of application in the food and beverage industry coupled with the range of functional benefits and thus driving the lactic acid market. Lactic acid is used as a food preservative, curing agent, and flavoring agent. It is an ingredient in processed foods and is used as a decontaminant during meat processing.
United Kingdom Holds the Maximum Share in the Market
The changing and busy lifestyles of consumers due to rapid urbanization led to high demand for processed and convenience products. The major driver for the market is an increased demand for lactic acid in meat and other food applications, availability of cheap raw materials, innovation in technology, and strong support of big manufacturing companies in the region. Increasing population, high purchasing power, and growing awareness, as well as changing perception towards healthy features of natural products are propelling the demand and consumption of organic acids such as lactic acid across Europe.
Europe's lactic acid market is consolidated and major players in the market hold the majority of the share in the market. The key players in the market are Corbion, DuPont, Galactic, and Vigon International, Inc. among others. The major competitors prefer investment in new product development and marketing strategy due to volatility in commodity costs to maintain their position.
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- 1 INTRODUCTION
- 1.1 Study Assumptions & Market Definition
- 1.2 Scope of the Study
- 2 RESEARCH METHODOLOGY
- 3 EXECUTIVE SUMMARY
- 3.1 Market Overview
- 4 MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
- 4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
- 5 MARKET SEGMENTATION
- 5.1 By Source
- 5.1.1 Natural
- 5.1.2 Synthetic
- 5.2 By Application
- 5.2.1 Bakery
- 5.2.2 Confectionery
- 5.2.3 Dairy
- 5.2.4 Beverages
- 5.2.5 Meat, Poultry and Fish
- 5.2.6 Fruits and Vegetables
- 5.3 Geography
- 5.3.1 Europe
- 188.8.131.52 United Kingdom
- 184.108.40.206 France
- 220.127.116.11 Germany
- 18.104.22.168 Italy
- 22.214.171.124 Russia
- 126.96.36.199 Spain
- 188.8.131.52 Rest of Europe
- 6 COMPETITIVE LANDSCAPE
- 6.1 Most Active Companies
- 6.2 Most Adopted Strategies
- 6.3 Market Share Analysis
- 6.4 Company Profiles
- 6.4.1 DECACHIMIE S.A.
- 6.4.2 Gremount International Company Limited
- 6.4.3 Vigon International, Inc.
- 6.4.4 Corbion N.V.
- 6.4.5 DuPont de Nemours, Inc.
- 6.4.6 Galactic
- 7 MARKET OPPORTUNITIES AND FUTURE TRENDS