Lactic Acid Market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, China, Japan, Germany, UK - Size and Forecast 2024-2028

Published: Feb 2024 Pages: 156 SKU: IRTNTR77528

Lactic Acid Market Forecast 2024-2028

The lactic acid market size is forecast to increase by USD 1.79 billion, at a CAGR of 8.3% between 2023 and 2028.  The growth rate of the market depends on several factors, including the increase in popularity of probiotics composed of lactic acid, the growing demand for lactic acid in the food and beverage industry, and the continuous expansion of the bioplastics industry, where lactic acid is a key component. It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.

What will be the  Market Size During the Forecast Period?

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Market Definition 

Lactic acid can be found in many foods, including milk, cheese, sourdough bread, and some fermented/sour milk products such as yogurt and kefir. It is a colorless and syrupy acid that's formed when bacteria convert glucose to energy in the absence of oxygen.

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Market Dynamics 

Our researchers analyzed the market research and growth data with 2023  as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage. 

Market Driver

The increase in the popularity of probiotics is the key factor driving the market. Probiotics are live microorganisms that confer health benefits when consumed in adequate amounts and bacteria are a major component of many probiotic formulations. This rise in popularity can be attributed to the growing awareness among consumers about the importance of gut health and the role of probiotics in maintaining a balanced microbial environment in the digestive system. One of the main reasons for the growth of the market is the growing focus on preventive health care. 

Moreover, lactic acid is a commonly favored probiotic. Probiotics can improve the functioning of the immune system by decreasing respiratory infections in consumers and thereby reducing the need for antibiotics. The regular inclusion of probiotics in a child's diet reduces the risk of catching influenza and falling sick frequently. All these above-mentioned factors will drive the growth of the market during the forecast period.

Market Trends

Expanding the range of applications in the pharmaceutical and personal care industry is the primary trend shaping the market. Lactic acid is widely used in skin care products and in hair care products. It has a gentle exfoliating effect, making it an excellent ingredient for skin care formulations that aim for a smoother and brighter complexion. It works as a natural moisturizer, as it attracts moisture to the skin. As a result, it is an effective ingredient in moisturizing and anti-aging formulas. This also acts as an antimicrobial agent, helping to preserve cosmetic products and reducing the use of synthetic preservatives.

The use of lactic acid in pharmaceuticals is not limited to drug delivery systems, but can also be used in wound care. Further, the growing use for personal care and pharmaceutical applications is because consumers are increasingly looking for natural and environmentally friendly products. As consumers become more aware of the environmental impacts of traditional chemical ingredients, manufacturers are increasingly looking to renewable and bio-degradable alternatives. Thus, such factors will drive the growth of the market during the forecast period.

Major Challenge

The prevalence of volatility in prices of lactic acid is a major challenge that affects market expansion. One of the main causes of lactic acid price fluctuations is the dependency on raw materials. It is made from sugarcane, maize, or other sources of carbohydrates. The cost of raw materials for production is affected by fluctuations in the prices of raw materials, which are affected by weather, farming practices, and bio-based product demand. Therefore, manufacturers face difficulties in forecasting and controlling costs, which, in turn, contribute to price volatility.

Furthermore, prices are also affected by global market dynamics, such as supply and demand dynamics, geopolitical dynamics, and regulatory changes. Consumer preferences, new applications, and advances in production technologies also add to the complexity of market dynamics. The combination of these variables makes prices vulnerable to sudden changes, making it difficult for companies to plan and budget efficiently. These factors are expected to impede the market expansion during the forecast period.

Segmentation by Type, Source, and Geography

Type Analysis

The market share by the dry segment will be significant during the forecast years. A naturally occurring organic product finds its dry form through a dehydration process, resulting in a powdered or crystalline substance. The dry form is one of the most widely used substances in the food and beverages industry. It is used as an additive, preservative, and flavor enhancer in food and beverages. The dry form is also widely used in the pharmaceutical industry. It plays an important role in drug formulation. Dry form plays a vital role in the formulation of drug excipients. It helps to improve the stability and solubility of drugs. This is especially important for tablets and capsules.

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The dry segment accounted for USD 1.68 billion in 2018. Furthermore, the dry form helps to maintain the quality and effectiveness of pharmaceutical products. Key market players such as Corbion NV, Galactic, and Henan Jindan Lactic Acid Technology Co., Ltd. are actively involved in the production and distribution. These companies focus on research and development to enhance the properties and applications of dry lactic acid, meeting the evolving needs of various industries, such as food and beverage, textile, pharmaceutical, etc. Thus, such factors under the dry segment will drive the market during the forecast period.

Source Analysis 

Sugar cane represents a significant share of this segment, playing a crucial role as a source for the production of this versatile organic acid. The growing demand for sustainable and eco-friendly products has fueled interest derived from renewable sources such as sugarcane. One of the main benefits of sugarcane is its high availability and renewal rate. Sugarcane is one of the main cash crops in many tropical and sub-tropical areas, making it a dependable and sustainable source of lactic acid. Further, the eco-friendliness of sugarcane-based resonates with consumers' taste for eco-friendly and sustainable products, helping to drive its growth. Thus, such factors under the sugarcane segment will fuel the expansion of the market during the forecast period.

Region Analysis

North America is estimated to contribute 43% to the growth of the global market during the projection period.
Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the projection period.

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North America stands as a prominent market, playing a pivotal role in the growth and development of this industry. Lactic acid has a wide range of uses in the food and beverage sector in North America. This is used as an additive, preservative, and flavor enhancer in the food industry. Consumers are increasingly turning to natural and organic products. Danone, Nestle, and other major North American food and beverage companies have added lactic acid to their products to meet changing consumer preferences.

Moreover, the pharmaceutical industry in North American countries such as the US and Canada has adopted as a substrate for drug delivery systems and a precursor for the formation of pharmaceutical compounds. North America's strong pharmaceutical industry, combined with the growing emphasis on research and development (R&D), has fueled the need. Also, it is used in personal care products to exfoliate and moisturize the skin. Thus, such factors will drive the growth of the regional market during the forecast period.

Key Companies

Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches to enhance their presence in the market.

  • BASF SE: The company offers lactic acid such as AH CARE L 65, which is used for exfoliation for all skin types and significantly reduces stinging sensation and irritation.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including: 

Cargill Inc., Corbion nv, Danimer Scientific Inc., Dow Chemical Co., DuPont de Nemours Inc., Foodchem International Corp., Galactic, Henan Jindan lactic acid Technology Co. Ltd., JIAAN BIOTECH, Jungbunzlauer Suisse AG, Musashino Chemical Laboratory Ltd., Sulzer Management Ltd., Syconium Lactic Acid GmbH, Teijin Ltd., thyssenkrupp AG, Toray Industries Inc., Vaishnavi Bio Tech International Ltd., Vishnupriya Chemicals Pvt. Ltd., and Zhejiang NetSun Co. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market report predicts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2028. 

  • Type Outlook 
    • Dry
    • Liquid
  • Source Outlook
    • Sugar cane
    • Corn
    • Cassava
    • Others
  • Region Outlook 
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Chile
      • Brazil
        Argentina
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Market Analyst Overview: 

The market is witnessing exponential growth, particularly in emerging regions like Asia-Pacific, fueled by its functional qualities and regulatory approval from entities such as the US Food and Drug Administration (FDA) and Generally Recognized as Safe (GRAS) status. Biodegradable polymers and compostable thermoplastics produced through fermentation processes are gaining traction in the food business.

Fermented beverages, yogurts, and dairy-based products are experiencing high demand due to their convenience and functional qualities. Lactic acid serves as a crucial food additive, offering a variety of functional benefits in processed food and convenience food sectors. Its use in the preservation industry underscores its importance in economic development and the production of food and beverage products, aligning with international rules and regulations governing chemical synthesis and food acidulants.

Lactic Acid Market Scope

Report Coverage

Details

Page number

156

Base year

2023

Historic period

2018-2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 8.3%

Market Growth 2024-2028

USD 1.79 billion

Market structure

Fragmented

YoY growth 2023-2024(%)

8.0

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 43%

Key countries

US, China, Japan, Germany, and UK

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

BASF SE, Cargill Inc., Corbion nv, Danimer Scientific Inc., Dow Chemical Co., DuPont de Nemours Inc., Foodchem International Corp., Galactic, Henan Jindan lactic acid Technology Co. Ltd., JIAAN BIOTECH, Jungbunzlauer Suisse AG, Musashino Chemical Laboratory Ltd., Sulzer Management Ltd., Syconium Lactic Acid GmbH, Teijin Ltd., thyssenkrupp AG, Toray Industries Inc., Vaishnavi Bio Tech International Ltd., Vishnupriya Chemicals Pvt. Ltd., and Zhejiang NetSun Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. 

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

  • CAGR of the market forecast during the forecast period
  • Detailed information on factors that will drive the growth of the market  between 2024 and 2028
  • Precise estimation of the market size and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market across North America, APAC, Europe, South America, and Middle East and Africa
  • Thorough market analysis and report of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of market companies

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Source
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2023
    • 3.4 Market outlook: Forecast for 2023-2028
      • Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

    4 Historic Market Size

    • 4.1 Global lactic acid market 2018 - 2022
      • Exhibit 18: Historic Market Size – Data Table on global lactic acid market 2018 - 2022 ($ billion)
    • 4.2 Form Segment Analysis 2018 - 2022
      • Exhibit 19: Historic Market Size – Form Segment 2018 - 2022 ($ billion)
    • 4.3 Source Segment Analysis 2018 - 2022
      • Exhibit 20: Historic Market Size – Source Segment 2018 - 2022 ($ billion)
    • 4.4 Geography Segment Analysis 2018 - 2022
      • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)
    • 4.5 Country Segment Analysis 2018 - 2022
      • Exhibit 22: Historic Market Size – Country Segment 2018 - 2022 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2023 and 2028
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2023 and 2028
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2023 and 2028
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

    6 Market Segmentation by Type

    • 6.1 Market segments
      • Exhibit 30: Chart on Type - Market share 2023-2028 (%)
      • Exhibit 31: Data Table on Type - Market share 2023-2028 (%)
    • 6.2 Comparison by Type
      • Exhibit 32: Chart on Comparison by Type
      • Exhibit 33: Data Table on Comparison by Type
    • 6.3 Dry - Market size and forecast 2023-2028
      • Exhibit 34: Chart on Dry - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 35: Data Table on Dry - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 36: Chart on Dry - Year-over-year growth 2023-2028 (%)
      • Exhibit 37: Data Table on Dry - Year-over-year growth 2023-2028 (%)
    • 6.4 Liquid - Market size and forecast 2023-2028
      • Exhibit 38: Chart on Liquid - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 39: Data Table on Liquid - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 40: Chart on Liquid - Year-over-year growth 2023-2028 (%)
      • Exhibit 41: Data Table on Liquid - Year-over-year growth 2023-2028 (%)
    • 6.5 Market opportunity by Type
      • Exhibit 42: Market opportunity by Type ($ billion)
      • Exhibit 43: Data Table on Market opportunity by Type ($ billion)

    7 Market Segmentation by Source

    • 7.1 Market segments
      • Exhibit 44: Chart on Source - Market share 2023-2028 (%)
      • Exhibit 45: Data Table on Source - Market share 2023-2028 (%)
    • 7.2 Comparison by Source
      • Exhibit 46: Chart on Comparison by Source
      • Exhibit 47: Data Table on Comparison by Source
    • 7.3 Sugar cane - Market size and forecast 2023-2028
      • Exhibit 48: Chart on Sugar cane - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 49: Data Table on Sugar cane - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 50: Chart on Sugar cane - Year-over-year growth 2023-2028 (%)
      • Exhibit 51: Data Table on Sugar cane - Year-over-year growth 2023-2028 (%)
    • 7.4 Corn - Market size and forecast 2023-2028
      • Exhibit 52: Chart on Corn - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 53: Data Table on Corn - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 54: Chart on Corn - Year-over-year growth 2023-2028 (%)
      • Exhibit 55: Data Table on Corn - Year-over-year growth 2023-2028 (%)
    • 7.5 Cassava - Market size and forecast 2023-2028
      • Exhibit 56: Chart on Cassava - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 57: Data Table on Cassava - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 58: Chart on Cassava - Year-over-year growth 2023-2028 (%)
      • Exhibit 59: Data Table on Cassava - Year-over-year growth 2023-2028 (%)
    • 7.6 Others - Market size and forecast 2023-2028
      • Exhibit 60: Chart on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 61: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 62: Chart on Others - Year-over-year growth 2023-2028 (%)
      • Exhibit 63: Data Table on Others - Year-over-year growth 2023-2028 (%)
    • 7.7 Market opportunity by Source
      • Exhibit 64: Market opportunity by Source ($ billion)
      • Exhibit 65: Data Table on Market opportunity by Source ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 67: Chart on Market share by geography 2023-2028 (%)
      • Exhibit 68: Data Table on Market share by geography 2023-2028 (%)
    • 9.2 Geographic comparison
      • Exhibit 69: Chart on Geographic comparison
      • Exhibit 70: Data Table on Geographic comparison
    • 9.3 North America - Market size and forecast 2023-2028
      • Exhibit 71: Chart on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 72: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 73: Chart on North America - Year-over-year growth 2023-2028 (%)
      • Exhibit 74: Data Table on North America - Year-over-year growth 2023-2028 (%)
    • 9.4 APAC - Market size and forecast 2023-2028
      • Exhibit 75: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 76: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 77: Chart on APAC - Year-over-year growth 2023-2028 (%)
      • Exhibit 78: Data Table on APAC - Year-over-year growth 2023-2028 (%)
    • 9.5 Europe - Market size and forecast 2023-2028
      • Exhibit 79: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 80: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 81: Chart on Europe - Year-over-year growth 2023-2028 (%)
      • Exhibit 82: Data Table on Europe - Year-over-year growth 2023-2028 (%)
    • 9.6 South America - Market size and forecast 2023-2028
      • Exhibit 83: Chart on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 84: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 85: Chart on South America - Year-over-year growth 2023-2028 (%)
      • Exhibit 86: Data Table on South America - Year-over-year growth 2023-2028 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2023-2028
      • Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
      • Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
    • 9.8 US - Market size and forecast 2023-2028
      • Exhibit 91: Chart on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 92: Data Table on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 93: Chart on US - Year-over-year growth 2023-2028 (%)
      • Exhibit 94: Data Table on US - Year-over-year growth 2023-2028 (%)
    • 9.9 China - Market size and forecast 2023-2028
      • Exhibit 95: Chart on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 96: Data Table on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 97: Chart on China - Year-over-year growth 2023-2028 (%)
      • Exhibit 98: Data Table on China - Year-over-year growth 2023-2028 (%)
    • 9.10 Germany - Market size and forecast 2023-2028
      • Exhibit 99: Chart on Germany - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 100: Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 101: Chart on Germany - Year-over-year growth 2023-2028 (%)
      • Exhibit 102: Data Table on Germany - Year-over-year growth 2023-2028 (%)
    • 9.11 UK - Market size and forecast 2023-2028
      • Exhibit 103: Chart on UK - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 104: Data Table on UK - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 105: Chart on UK - Year-over-year growth 2023-2028 (%)
      • Exhibit 106: Data Table on UK - Year-over-year growth 2023-2028 (%)
    • 9.12 Japan - Market size and forecast 2023-2028
      • Exhibit 107: Chart on Japan - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 108: Data Table on Japan - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 109: Chart on Japan - Year-over-year growth 2023-2028 (%)
      • Exhibit 110: Data Table on Japan - Year-over-year growth 2023-2028 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 111: Market opportunity by geography ($ billion)
      • Exhibit 112: Data Tables on Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 113: Impact of drivers and challenges in 2023 and 2028
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 114: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 115: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 116: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 117: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 118: Matrix on vendor position and classification
            • 12.3 BASF SE
              • Exhibit 119: BASF SE - Overview
              • Exhibit 120: BASF SE - Business segments
              • Exhibit 121: BASF SE - Key news
              • Exhibit 122: BASF SE - Key offerings
              • Exhibit 123: BASF SE - Segment focus
            • 12.4 Cargill Inc.
              • Exhibit 124: Cargill Inc. - Overview
              • Exhibit 125: Cargill Inc. - Product / Service
              • Exhibit 126: Cargill Inc. - Key news
              • Exhibit 127: Cargill Inc. - Key offerings
            • 12.5 Corbion nv
              • Exhibit 128: Corbion nv - Overview
              • Exhibit 129: Corbion nv - Business segments
              • Exhibit 130: Corbion nv - Key offerings
              • Exhibit 131: Corbion nv - Segment focus
            • 12.6 DuPont de Nemours Inc.
              • Exhibit 132: DuPont de Nemours Inc. - Overview
              • Exhibit 133: DuPont de Nemours Inc. - Business segments
              • Exhibit 134: DuPont de Nemours Inc. - Key news
              • Exhibit 135: DuPont de Nemours Inc. - Key offerings
              • Exhibit 136: DuPont de Nemours Inc. - Segment focus
            • 12.7 Galactic
              • Exhibit 137: Galactic - Overview
              • Exhibit 138: Galactic - Product / Service
              • Exhibit 139: Galactic - Key offerings
            • 12.8 Henan Jindan lactic acid Technology Co. Ltd.
              • Exhibit 140: Henan Jindan lactic acid Technology Co. Ltd. - Overview
              • Exhibit 141: Henan Jindan lactic acid Technology Co. Ltd. - Product / Service
              • Exhibit 142: Henan Jindan lactic acid Technology Co. Ltd. - Key offerings
            • 12.9 JIAAN BIOTECH
              • Exhibit 143: JIAAN BIOTECH - Overview
              • Exhibit 144: JIAAN BIOTECH - Product / Service
              • Exhibit 145: JIAAN BIOTECH - Key offerings
            • 12.10 Jungbunzlauer Suisse AG
              • Exhibit 146: Jungbunzlauer Suisse AG - Overview
              • Exhibit 147: Jungbunzlauer Suisse AG - Product / Service
              • Exhibit 148: Jungbunzlauer Suisse AG - Key offerings
            • 12.11 Musashino Chemical Laboratory Ltd.
              • Exhibit 149: Musashino Chemical Laboratory Ltd. - Overview
              • Exhibit 150: Musashino Chemical Laboratory Ltd. - Product / Service
              • Exhibit 151: Musashino Chemical Laboratory Ltd. - Key offerings
            • 12.12 Syconium Lactic Acid GmbH
              • Exhibit 152: Syconium Lactic Acid GmbH - Overview
              • Exhibit 153: Syconium Lactic Acid GmbH - Product / Service
              • Exhibit 154: Syconium Lactic Acid GmbH - Key offerings
            • 12.13 Teijin Ltd.
              • Exhibit 155: Teijin Ltd. - Overview
              • Exhibit 156: Teijin Ltd. - Business segments
              • Exhibit 157: Teijin Ltd. - Key offerings
              • Exhibit 158: Teijin Ltd. - Segment focus
            • 12.14 thyssenkrupp AG
              • Exhibit 159: thyssenkrupp AG - Overview
              • Exhibit 160: thyssenkrupp AG - Business segments
              • Exhibit 161: thyssenkrupp AG - Key offerings
              • Exhibit 162: thyssenkrupp AG - Segment focus
            • 12.15 Vaishnavi Bio Tech International Ltd.
              • Exhibit 163: Vaishnavi Bio Tech International Ltd. - Overview
              • Exhibit 164: Vaishnavi Bio Tech International Ltd. - Product / Service
              • Exhibit 165: Vaishnavi Bio Tech International Ltd. - Key offerings
            • 12.16 Vishnupriya Chemicals Pvt. Ltd.
              • Exhibit 166: Vishnupriya Chemicals Pvt. Ltd. - Overview
              • Exhibit 167: Vishnupriya Chemicals Pvt. Ltd. - Product / Service
              • Exhibit 168: Vishnupriya Chemicals Pvt. Ltd. - Key offerings
            • 12.17 Zhejiang NetSun Co. Ltd.
              • Exhibit 169: Zhejiang NetSun Co. Ltd. - Overview
              • Exhibit 170: Zhejiang NetSun Co. Ltd. - Product / Service
              • Exhibit 171: Zhejiang NetSun Co. Ltd. - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 172: Inclusions checklist
                • Exhibit 173: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 174: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 175: Research methodology
                • Exhibit 176: Validation techniques employed for market sizing
                • Exhibit 177: Information sources
              • 13.5 List of abbreviations
                • Exhibit 178: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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