Global Lactobionic Acid Market Size, Share, Opportunities, And Trends By Application (Cosmetics, Food, Pharmaceutical, And Medical Applications, Others), And By Geography - Forecasts From 2024 To 2029

The global lactobionic acid market is expected to grow at a CAGR of 5.89% from US$3.941 billion in 2022 to US$5.883 billion in 2029.

Additionally, due to its iron-chelating capabilities, it acts as an antioxidant in tissues, limiting the production of harmful hydroxyl radicals. This substance is renowned for its established benefits as an antioxidant, chelating agent, and moisturizer. It can be synthesized using various production methods, including electrolysis, biotechnology, catalytic hydrogenation, and oxidation.

Market Drivers:

• Growing applicability in pharmaceutical sector.

The increased utilization of LBA for its antioxidant, chelating, and moisturizing properties is creating a surge in production to meet global pharmaceutical demand. According to the Indian Ministry of Chemicals & Fertilizers, In the fiscal year 2021-22, the total exports of pharmaceutical products from India amounted to a substantial value of Rs. 1,74,955 crores (equivalent to USD 23.5 billion). Simultaneously, the pharmaceutical sector imported products worth Rs. 60,060 crores (approximately USD 8.06 billion), reflecting a trade surplus of Rs. 1,14,895 crores (equivalent to USD 15.44 billion). Consequently, within the market, the pharmaceutical and medical sectors will continue to be the dominant application segment, given that lactobionic acid is a key ingredient in various health-related products, including pharmaceuticals, antibiotics, and solutions used for preserving organs during transplantation.

Furthermore, patents in the lactobionic acid market wield significant influence over the brands within the industry. By safeguarding their innovations with patents, firms can differentiate themselves, incorporating cutting-edge and patented components into their products. As an illustration, in November 2022, Otsuka Pharmaceutical Co., Ltd. celebrated a favorable outcome in a patent infringement case against Daicel Corporation and Advanced Medical Care Inc.. As a result, Daicel is now legally prohibited from both manufacturing and selling "Flavocell EQ-5," while AMC is also barred from manufacturing and selling "Equol + Lactobionic Acid" using "Flavocell EQ-5" as a raw material. Otsuka has initiated several patent infringement actions to seek damages related to the infringement of the Patent Right associated with "Flavocell EQ-5."

• Booming demand from cosmetic sector.

The global lactobionic market is primarily fueled by its broad range of uses as a bioactive component, its high application in cosmeceuticals, and the increased demand for eco-friendly products. For instance, in July 2023, Beekman 1802 unveiled a new skincare line featuring Lactobionic Acid as the primary ingredient, focusing on sealing in moisture and safeguarding the skin barrier. Furthermore, in April 2022, ALANNA, India's pioneering specialized lip care brand, introduced the world's first lip wash designed for both men and women. This innovative product aims to address specific lip-related concerns and features key ingredients like Alpha-Arbutin, Ferulic Acid, and PHA Lactobionic Acid in its formulation. Therefore, the expanding use of lactobionic acid in cosmetic products is a significant market driver.

In the projected period the United States is expected to show significant growth.

Lactobionic acid is an oligosaccharide aldonic acid that is driven by the oxidation of milk sugar. Such acid owing to its high antioxidant, biocompatibility, and non-toxic nature finds high applicability in skin care products as an exfoliant, and it forms an integral component of preservation solutions for organ transplantation. The booming prevalence of organ transplantation in the United States has provided a positive outlook to the market demand for lactobionic acid thereby bolstering its market growth in the country. According to the United Network for Organ Sharing, in 2022, the number of organ transplant procedures that occurred in the United States stood at 42,887 which signified a 3.7% increase over 2021’s figure of 41,354.

The growing healthcare spending and increase in R&D expenditure for developing new medicine in the United States has paved the way for future market expansion. According to the Pharmaceutical Research and Manufacturers of America, in 2021, R&D expenditure in pharmaceuticals stood at US$79,610.19 million which represented a significant increase of 9.9% over 2021’s expenditure. Furthermore, as per the same source for the period 2018 to 2022, the R&D expenditure in pharmaceutical production grew at an annual rate of 9.4% in the United States.

Global Lactobionic Acid Market Scope:

Segmentation:

• By Application
  • Cosmetics
  • Food
  • Pharmaceutical and Medical applications
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others