The Lactic Acid Ester Market,by Type (Methyl lactate, Ethyl lactate, Butyl lactate, others), by End Use Industry Type (Pharmaceutical, Cosmetics & Personal Care, Electronics, Food & Beverage, Agrochemical, and Others) and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, Israel, and Others]).
The Lactic Acid Ester Market, by Type (Methyl lactate, Ethyl lactate, Butyl lactate, others), by End Use Industry Type (Pharmaceutical, Cosmetics & Personal Care, Electronics, Food & Beverage, Agrochemical, and Others) and by Region...
The lactic acid ester market was estimated at US$ 210 million in 2021 and is expected to grow at a CAGR of 6.7% during 2022-2028 to reach US$ 311 million by 2028.
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What are Lactic Acid Ester?
Lactic acid esters are a group of organic compounds that are derived from lactic acid. They are commonly used as food additives, particularly as emulsifiers, flavourings, and preservatives. Lactic acid esters are also used in the manufacturing of cosmetics, pharmaceuticals, and personal care products.
Market Drivers:
The global lactic acid ester market has experienced steady growth in recent years due to the increasing demand for food additives and the growth of the cosmetics and personal care industries. The market is expected to continue growing in the coming years as more consumers seek natural and organic products.
COVID-19 Impact:
The COVID-19 pandemic has had a significant impact on the global economy, including the lactic acid ester market. The pandemic has disrupted supply chains and caused fluctuations in demand for various products, including food additives, cosmetics, and personal care products. The lactic acid ester market has been impacted by the pandemic in several ways. First, the closure of food service establishments and reduced consumer spending on non-essential items have led to a decrease in demand for food additives and cosmetic products containing lactic acid esters. This has resulted in a decline in sales and revenue for some companies in the market.
On the other hand, the pandemic has also created new opportunities for the lactic acid ester market. With the increasing demand for natural and organic products, there has been a growing interest in lactic acid esters as a natural food preservative and ingredient. As such, some companies have focused on developing new and innovative lactic acid ester products to meet this demand.
Furthermore, the pandemic has led to a greater emphasis on personal hygiene and cleanliness, which has increased the demand for personal care products such as hand sanitizers and disinfectants. Lactic acid esters are commonly used in these products as antimicrobial agents, and as such, the market for these products has increased during the pandemic.
Overall, while the COVID-19 pandemic has had a negative impact on some aspects of the lactic acid ester market, it has also presented new opportunities for growth and innovation in the industry.
Investments in the Lactic Acid Ester Market:
Many companies in the lactic acid ester market are investing in research and development to create new and innovative products and to expand their market presence. Some of the notable investments by companies in the market include:
Expansion: BASF SE is one of the leading companies in the lactic acid ester market. The company has invested in expanding its production capacity for lactic acid and its derivatives, including lactic acid esters. In 2019, BASF opened a new lactic acid plant in Erembodegem, Belgium, which is expected to increase the company's production capacity by 60,000 metric tons per year.
Product Development: Corbion N.V. is a global leader in sustainable ingredients for the food, pharmaceutical, and chemical industries. The company has invested in developing new lactic acid ester products, including its Verdad range of natural preservatives. In 2020, Corbion launched a new range of natural antimicrobial solutions for meat and poultry, which includes lactic acid esters as an active ingredient.
Expansion: Galactic S.A. is a leading producer of lactic acid and its derivatives, including lactic acid esters. The company has invested in expanding its production capacity and in developing new products for the food, pharmaceutical, and cosmetic industries. In 2020, Galactic launched a new range of natural antimicrobial solutions for meat and poultry, which includes lactic acid esters as an active ingredient.
Product Development: DuPont de Nemours, Inc. is a global leader in specialty materials, including lactic acid esters. The company has invested in developing new products for the food, pharmaceutical, and personal care industries. In 2020, DuPont launched a new line of natural emulsifiers for food and beverage applications, which includes lactic acid esters as an active ingredient.
Overall, these investments by companies in the lactic acid ester market demonstrate a commitment to innovation and sustainability, and are expected to drive growth and expansion in the industry in the coming years.
Key Players
The competitive landscape of the lactic acid esters market is highly fragmented, with several key players operating in the market. These companies are focusing on expanding their production capacity, developing new products, and forming strategic partnerships to strengthen their market position. These companies are focusing on expanding their product portfolios through acquisitions, collaborations, and partnerships. They are also investing in research and development activities to develop new products that meet the evolving needs of their customers. In addition, companies are also focusing on sustainability by developing products that are environmentally friendly and reducing their carbon footprint.
Overall, the lactic acid esters market is highly competitive and dynamic, with several key players operating in the market. The market is expected to continue to grow in the coming years, driven by the increasing demand for natural and sustainable products in various industries
Some of the major players operating in the lactic acid esters market include:
Archer Daniels Midland Company
Biological Engineering Co., Ltd
Corbion N.V.
FBC Industries Inc.
Galactic S.A.
Godavari Biorefineries Ltd.
Henan Jindan Lactic Acid Technology Co. Ltd.
Musashino Chemical Laboratory Ltd.
Shandong Enno New Material Co., Ltd.
Shanghai Jindun Industrial Co. Ltd.
Shenzhen eSUN Industrial Co., Ltd.
Stepan
Vertec Biosolvents Inc
Vertellus Holdings LLC
Yancheng Huade (Dancheng)
Zhengzhou Best Pearl Chemicals Co. Ltd.
Zhengzhou Tianrun Lactic Acid Co., Ltd.
Segment Analysis
By Type:
The market is segmented into Methyl lactate, Ethyl lactate, Butyl lactate, others. The lactic acid ester market can be segmented based on the type of ester, including methyl lactate, ethyl lactate, butyl lactate, and others. Methyl lactate is a colourless, transparent liquid with a sweet, fruity odour. It is used as a solvent, flavouring agent, and intermediate in the production of various chemicals.
Methyl lactate is commonly used in the manufacturing of personal care products and cosmetics. Ethyl lactate is a clear, colourless liquid with a fruity odour. It is used as a solvent, flavouring agent, and intermediate in the production of various chemicals. Ethyl lactate is commonly used in the food and beverage industry as a natural flavouring agent and in the manufacturing of personal care products and cosmetics.
Butyl lactate is a colourless, clear liquid with a fruity odour. It is used as a solvent, flavouring agent, and intermediate in the production of various chemicals. Butyl lactate is commonly used in the manufacturing of personal care products, cosmetics, and fragrances. Other types of lactic acid esters include propyl lactate, hexyl lactate, and octyl lactate. These esters are used in various applications, including in the manufacturing of personal care products, cosmetics, and fragrances.
Overall, the demand for lactic acid esters varies depending on the type of ester and the application. Methyl lactate and ethyl lactate are commonly used in the food and beverage industry, while butyl lactate is more commonly used in the manufacturing of personal care products and cosmetics. As consumers continue to demand natural and organic products, the use of lactic acid esters is expected to increase in various applications, including food, personal care, and pharmaceuticals.
By End Use Industry Type:
The market is segmented into Pharmaceutical, Cosmetics & Personal Care, Electronics, Food & Beverage, Agrochemical, and Others. The lactic acid ester market can also be segmented based on the end-use industry, including pharmaceutical, cosmetics & personal care, electronics, food & beverage, agrochemical, and others.
Lactic acid esters are used in the pharmaceutical industry as excipients, solvents, and active ingredients in various drugs and medications. They are used in the manufacturing of tablets, capsules, and other dosage forms. Lactic acid esters are also used in transdermal drug delivery systems and in the production of sustained-release drugs.Lactic acid esters are used in the cosmetics and personal care industry as emollients, solvents, and fragrance ingredients.
They are commonly used in the manufacturing of skin care products, such as lotions, creams, and moisturizers, as well as in hair care products, such as shampoos and conditioners. Other industries that use lactic acid esters include textile, paper and pulp, and plastic industries.
Overall, the demand for lactic acid esters varies depending on the end-use industry and the specific application. As consumers continue to demand natural and sustainable products, the use of lactic acid esters is expected to increase in various industries, including pharmaceutical, cosmetics and personal care, and food and beverage.
Regional Analysis:
The Global Lactic Acid Esters Market can be segmented by region into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The North American market for lactic acid esters is driven by the growing demand for natural and organic products in the food and beverage, cosmetics and personal care, and pharmaceutical industries. The United States is the largest market in this region. The European market for lactic acid esters is driven by the increasing demand for natural and sustainable products in the food and beverage, cosmetics and personal care, and pharmaceutical industries. Germany, France, and the United Kingdom are the largest markets in this region.
Overall, the demand for lactic acid esters is expected to grow in all regions due to the increasing demand for natural and sustainable products in various industries. The market is expected to grow the fastest in the Asia-Pacific region due to the increasing population and economic growth in countries such as China and India.
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
Market structure: Overview, industry life cycle analysis, supply chain analysis.
Market Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
Market trend and forecast analysis.
Market segment trend and forecast.
Competitive landscape and dynamics: Market share, Product Portfolio, New Product Launches, etc.
Attractive market segments and associated growth opportunities.
Emerging trends.
Strategic growth opportunities for the existing and new players.
Key success factors.
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances
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Lactic acid esters are a group of organic compounds that are derived from lactic acid. They are commonly used as food additives, particularly as emulsifiers, flavourings, and preservatives. Lactic acid esters are also used in the manufacturing of cosmetics, pharmaceuticals, and personal care products.
The global lactic acid ester market has experienced steady growth in recent years due to the increasing demand for food additives and the growth of the cosmetics and personal care industries. The market is expected to continue growing in the coming years as more consumers seek natural and organic products.
