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.

Market growth for lactic acid is primarily driven by its expanding range of applications and increasing multi-functionality. However, this growth faces a potential constraint from fluctuating raw material prices.

COVID-19 Impact on the North American Lactic Acid Market:
The COVID-19 pandemic, originating in Wuhan, China in December 2019, rapidly spread globally. This significantly disrupted the North American food and beverages industry through supply chain interruptions, lockdowns, travel restrictions, and mandated business closures. Within North America, the US experienced the highest number of confirmed cases. Consequently, the regional lactic acid market was impacted by disruptions in supply and distribution chains. Furthermore, lockdown measures hindered overall manufacturing processes and research and development activities across various sectors.

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Market Introduction:
Lactic acid (or lactate) is a chemical compound naturally produced as a byproduct of anaerobic respiration. It is also an organic acid commercially produced through fermentation. Primary feedstocks for its production are carbohydrates derived from sources like sugarcane, corn starch, or tapioca starch. Crucially, lactic acid serves as the essential building block for polylactic acid (PLA) and finds diverse applications across industries including food & beverages, personal care, and pharmaceuticals.

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
  • To efficiently plan M&A and partnership deals in the North America Lactic Acid Market by identifying market segments with most promising probable sales
  • 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