January 30, 2023

The surging food and Pharmaceutical industry is expected to create lucrative opportunities for the market, states Fortune Business Insights, in a report, titled “Lactic Acid Blend Market Size, Share & Industry Analysis, By Type (Liquid, Semi-solid), By End-Use (Food, Non-food) and Regional Forecast 2022-2029.” The booming chemical industry is expected to aid expansion of the market.

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The report on thelactic acid blend market uncovers:

  • Eminent insights into the industry
  • Important data with in-depth research
  • Factors exhibiting market growth
  • Comprehensive study about main regions
  • COVID-19 impact on the market
  • Prime developments in the industry

Market Driver:

Agreement of Procter & Gamble and Cargill to Bolster Growth

The increasing collaborations and agreements among major companies can have an outstanding impact on the market. For instance, in May 2020, Procter & Gamble and Cargill Collaborated to provide greener alternatives with lactic acid for applications in the personal care industries. Furthermore, the growing food industry is expected to escalate the demand for lactic acid blends, which, in turn, can create lucrative opportunities for the market. The technological advancements in production techniques and machines are expected to impact the market positively. The curdling of milk is an essential stage for dairy product manufacturing. The lactic acid blends are processed synthetically and naturally by the disintegration of the lactic acid. It is used in the food and non-food applications. The non-food applications include pharmaceuticals, cosmetics, chemicals, and textiles. Lactic acid blends are used to manufacture drugs, sutures, prosthetics, and other equipment. However, the lack of technological advancements in developing nations is expected to hamper the growth of the market.

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Regional Analysis:

Presence of Key Companies to Fortify Market in North America

Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold the largest share in the market. The growth is attributed to the growing number of manufacturers in the region. Asia Pacific is likely to account for a significant share in the global market due to the increasing food industry in Asian countries such as India, China, Japan, and South Korea. Europe is expected to experience a considerable growth rate due to the thriving Personal care and cosmetics industry in European countries. Latin America, and Middle East and Africa are expected to exhibit a steady growth rate due to developing industries in the regions.

Key Development

March 2020: Corbion planned to build a manufacturing facility of nearly 125000 metric tons per year volume for lactic acid in Thailand to support the total Corbion polylactic acid joint venture’s growth.

The Report Lists the Key Companies in the Global Lactic Acid Blend Market :

  • BASF SE
  • Cargill Incorporated
  • Teijin Limited
  • Musashino Chemical (China) Co. Ltd.
  • Archer Daniels Midland Company

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