The North America lactic acid market is expected to reach US$ 666.25 million in 2027 from US$ 331.65 million in 2019. The market is anticipated to grow at a CAGR of 9.1 % from 2020 to 2027.
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North America Lactic Acid Market Introduction and Overview
Lactic acid, also known as lactate, is an organic acid produced as a byproduct of anaerobic respiration and commonly generated through fermentation. It is primarily derived from carbohydrate-based feedstocks such as sugarcane, corn starch, or tapioca starch. Lactic acid serves as a fundamental building block for polylactic acid (PLA) and finds widespread application across various industries, including food and beverages, personal care, and pharmaceuticals.
North America Lactic Acid Market Drivers and Challenges
The lactic acid market is experiencing significant market growth, driven by its expanding range of applications and multifunctional properties. As demand rises in sectors like bioplastics, cosmetics, and healthcare, the versatility of lactic acid continues to fuel its adoption. However, the market faces a notable challenge in the form of fluctuating raw material prices, which may hinder consistent growth and affect profitability across the supply chain.
Impact of COVID-19 on the North America Lactic Acid Market
The COVID-19 pandemic, which began in Wuhan, China, in December 2019, quickly escalated into a global crisis, significantly affecting industries worldwide. In North America, the food and beverages sector—one of the major consumers of lactic acid—has been particularly impacted. Supply chain disruptions, lockdowns, travel restrictions, and business shutdowns have led to delays in production and distribution. The United States, having reported the highest number of confirmed COVID-19 cases in the region, has seen considerable strain on its manufacturing and logistical operations. These disruptions have not only affected the food and beverages industry but have also impeded ongoing research and development activities across multiple sectors, including those utilizing lactic acid.
Reasons to buy the report
- To understand the North America lactic acid market landscape and identify market segments that are most likely to guarantee a strong return
- To stay ahead by comprehending the ever-changing competitive landscape for the lactic acid market
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- To take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segments in the lactic acid market
- To obtain market revenue forecast for market by various segments from 2017 to 2027
North America Lactic Acid Market Segmentation
North America Lactic Acid Market By Form
- Dry
- Liquid
North America Lactic Acid Market By Application
- Food & Beverages
- Pharmaceuticals
- Personal Care
- Others
North America Lactic Acid Market Company Profiles
- Corbion
- Cargill Inc.
- Foodchem International Corporation
- Galactic
- Musashino Chemical Laboratory, Ltd.
- Shandong Baisheng Biotechnology Co., Ltd.
- Jungbunzlauer Suisse AG,
- Vigon International, Inc
North America Lactic Acid Market By Country
- US
- Canada
- Mexico
North America Lactic Acid Market Strategic Insights
Strategic insights for the North America Lactic Acid provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
North America Lactic Acid Market Regional Insights
The geographic scope of the North America Lactic Acid refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
