Lactic acid has gained considerable popularity as it acts as a monomer for the making of biodegradable polylactic acid and is generally made either through th or e process of biotechnological fermentation or chemical synthesis. Lactic acid is utilized for the purpose of lightening of skin, acceleration of exfoliation and renewal of skin, and helps in the improvement of collagen and elastin synthesis. Besides, introduction of easy-to-use and handy products at the time of travelling is foreseen to foster growth of the global food grade lactic acid market in the years to come.
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Fluctuations in the prices of raw materials comprising tapioca starch and sugar has risen the price of lactic acid. Rising prices is anticipated to pose challenge for the global food grade lactic acid market in the near future. Rise in the production of lactate solvents and biodegradable polymers has generated augmented demand for lactic acid, which is likely to foster growth of the global food grade lactic acid market in the near future.
Increased Purchasing Power of Food Items is Likely to Accentuate Demand in the Market
Raw materials like cassava, sugarcane, and corn are utilized for the production of lactic acid. Lactic acid is mostly produced utilizing a fermentation process due to low cost of production. In addition to that, a rise in the level of awareness amongst consumers about various bio-based products is likely to support growth of the global food grade lactic acid market in the years to come. Some of the key suppliers of raw materials are Syngenta Group, Monsanto Company, Louis Dreyfus Company B.V., and Archer-Daniels-Midland Company.
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With the rise in augmented purchasing power of food items and expanding urbanization, the demand for food grade lactic acid is expected to rise in the near future. There has been a rise in the consumption of different types of food items is likely to give the said market a boost.