The major growth drivers identified in the lactic acid market is the rising demand for the compound from cosmetic industry. Developing cosmetic industry, because of the expanding number of production base by companies such as Unilever plc,Johnson and Johnson Services Inc., and Procter & Gamble Co. is expected to encourage the industry growth.
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One of the major restraint identified in the lactic acid market is to control the number of bacteria producing this acid through optimization and control over metabolic activities. The unregulated number of bacteria can render the food and beverages and pharmaceuticals product useless due to spoilage and contamination.
Growing demand for healthcare and food and beverage items in the developing countries are expected to offer growth opportunities for the lactic acid market. Countries such as China, and India have emerged as one of the largest market for food and beverage products, healthcare products owing to improved standard of living in these nations. The rising standard of living continue to provide necessary push for the growth of different consumables.
The lactic acid market is estimated to grow at a significant pace in APAC region. Event though, the lactic acid market is dominated by North America followed by Europe, Asia Pacific region is expected to exhibit highest CAGR during the forecast period owing to the large scale use in industrial application such as in personal care products, biodegradable polymers, pharmaceuticals, and food & beverages industries.
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Some of the major players operating in the global lactic acid market are BASF SE, Teijin Limited, DowDupont Inc., Corbion N.V., NatureWorks LLC, Cargill Incorporated, Futerro, Henan Jindan Lactic Acid Technology Co. Ltd., Synbra Technology BV, and Galactic Inc.
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P&S Intelligence, a brand of P&S Market Research, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world.
Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Contact:
P&S Intelligence
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