North America Lactic Acid Market – Growth, Trends, and Forecast (2020 - 2025)
The North America lactic acid market is expected to register a CAGR of 8.9%, 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 since ages. With the trending concept
of natural, bio-preservatives are gaining momentum.
- Distinct role of lactic acid within the confectionery segment has been a driving factor for lactic acid market, which can otherwise be replaced by other organic acids.
Key Market Trends
Role of Lactic Acid in Sugar Confectionery
Confectionery remains one of the most popular application categories for citric and lactic acid. Buffered citric acid is often added in the molten mass (after cooking) of hard candies, since it helps prevent browning and also in inversion of sucrose. Lactic acid is especially beneficial in confectionery products to reduce sugar inversion in hard candies and gelatine degradation in soft candies.
United States Holds the Largest Market Share
United States is expected to hold the largest market share during the forecast period, owing to the increased usage of lactic acid in a number of end-use applications and the high level of consumer awareness within the country. The increasing number of consumers in the market who depict a willingness to pay a premium to source organic lactic acid category is also driving growth in the region. The sustainable production of lactic acid has proven to be a big opportunity for the lactic acid market as depending on plant source, less energy requirement, low cost, and eco-friendly benefits. The substitute for the acid market in food sector is a big challenge for the market.
The North America lactic acid market is fragmented. The major competitors prefer investment in new product development and marketing strategy, due to volatility in commodity costs to maintain their position. Some of the major players in the North America lactic acid market are Corbion NV, Cellulac, Galactic, Cargill, Kemin Industries Inc., among others.
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