The purpose of the report is to illustrate the state of the market of Specialty Fats and Oils, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.
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The global market for lactic acid is witnessing growth on the back of increasing applications of lactic acid for manufacturing of polylactic acid (PLA). In addition, rising demand from other end user industries such as personal care products and food and beverages are other factors contributing towards the market growth. However, volatility in the prices of raw material is the major factor restraining the market growth. Rising demand for eco-friendly packaging and increasing scope of applications of lactic acid in end user industries are the factors which will provide huge market potential.
In 2014, food and beverages application accounted for the largest share of the market pie followed by industrial applications. Food and beverages segment accounted for more than 40% share of the pie in 2014. But, industrial applications is projected to be the fastest growing application of lactic acid. It is projected to grow at a CAGR of 18.3% from 2015 to 2022.
North America is the largest market for lactic acid and is projected to grow at a CAGR of 13.1% from 2015 to 2022 in terms of volume. The market is driven by growing PLA market and rising demand from the other established end uses continues to increase. Asia Pacific market is projected to be the fastest growing market at a CAGR of 17.5% from 2015 to 2022 in terms of revenue. Japan and China will be the major contributor towards the market growth. European market is projected to grow at a moderate growth rate.
Globally, Purac, Cargill and Henan Jindan Lactic Acid Technology Co., Ltd are the top three manufacturers of lactic acid. BASF SE, The DOW Chemical Company, Corbion N.V., and Synbra Technology B.V. are the other major players present in this market.
Why was the report written?
This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Specialty Fats and Oils buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.
What is the current market landscape and what is changing?
Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.
The report on the market of Lactic Acid contains:
Analysis and forecast of Specialty Fats and Oils market dynamics;
Analysis of domestic production, market shares of the main market players;
Analysis of exports and imports;
Analysis of factors, leading the development of the Specialty Fats and Oils market;
Assessment and forecast of Specialty Fats and Oils market development;
Financial and business profiles of the leading companies in the Specialty Fats and Oils industry.
– Up to date working Specialty Fats and Oils data by major regions in the world, the forecast of planned capacity additions by 2026
– The annual breakdown of capital expenditure spending on proposed Specialty Fats and Oils for the period 2018 to 2026
– Planned Specialty Fats and Oils additions and capital expenditure spending by key countries and companies across the world
– Planned capital expenditure spending on new Specialty Fats and Oils projects by region, key countries, and companies
– Details of major planned Specialty Fats and Oils projects in the world up to 2026
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