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. Factors driving the market growth widening application scope and multi-functionalities of lactic acid. However, fluctuating raw material prices is likely to have a negative impact on the market growth.
North America lactic acid market Introduction
Lactic acid, also known as lactate, is an organic acid produced as a byproduct of anaerobic respiration and during fermentation processes. It is primarily derived from carbohydrate-rich feedstocks such as sugarcane, corn starch, and tapioca starch. Lactic acid serves as a key building block for polylactic acid and finds widespread application across various industries, including food and beverages, personal care, and pharmaceuticals.
Impact of COVID-19 on the North America Lactic Acid Market
The COVID-19 pandemic, which originated in Wuhan, China in December 2019, eventually spread across the globe, significantly disrupting various industries. In North America, the food and beverages sector was among the hardest hit due to supply chain interruptions, lockdown measures, travel restrictions, and widespread business closures. The United States reported the highest number of confirmed COVID-19 cases in the region, further compounding the challenges faced by manufacturers and distributors. The resulting disruptions have impacted production operations, supply networks, and research and development activities across multiple sectors, including lactic acid production.
Regional Insights: North America Lactic Acid Market
Understanding the geographic scope of the North American lactic acid market is vital for businesses seeking to optimize their regional operations and strategies. Regional differences in consumer preferences, economic conditions, and regulatory frameworks play a critical role in shaping market dynamics. Companies can drive growth by identifying underpenetrated markets and tailoring their product offerings to meet localized demands. A focused regional strategy enables efficient resource allocation, enhances marketing effectiveness, and strengthens competitive positioning.
Strategic Insights: North America Lactic Acid Market
Strategic insights into the North American lactic acid market offer a comprehensive, data-driven analysis of key trends, leading players, and market dynamics. These insights provide actionable recommendations that help stakeholders—whether investors, manufacturers, or distributors—identify growth opportunities and develop unique value propositions. By leveraging data analytics, businesses can anticipate emerging trends and shifts in consumer behavior, enabling more informed, future-oriented decision-making. Ultimately, these strategic insights support long-term profitability and sustainable growth within the evolving lactic acid market.
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
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Author's Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
