Global Calcium Lactate Market Size, Share, Trends, Industry Growth by Grade (Feed Grade, Food Grade, Industrial Grade, Pharmaceutical Grade), by Form (Granules, Liquid, Powder, Tablets), by Application, by Region and Forecast to 2030
Report ID: RCMA1850 | Report Format: PDF + Excel | Starting Price: 2680/- USD |The global calcium lactate market size was valued at around USD 1.7 billion in 2023 and anticipated to grow at a substantial CAGR of over 2% during the forecast period from 2024 to 2030. The market is poised for significant growth, driven by its diverse applications across industries such as food & beverages, pharmaceuticals, personal care, and agriculture. Calcium lactate, known for its bioavailability, is widely used as a dietary calcium supplement and a food additive for fortifying products like dairy, baked goods, and functional beverages. The growing focus on health and wellness has increased demand for calcium-enriched products, particularly in emerging economies. Additionally, its role in pharmaceutical formulations for treating calcium deficiencies and bone health disorders bolsters market expansion.
The market also benefits from its application in agriculture as a soil conditioner and plant nutrient, addressing the rising demand for sustainable agricultural practices. In personal care, calcium lactate finds use in skincare and haircare formulations due to its nourishing properties. Regional growth is notable in Asia-Pacific, driven by a growing population, increasing disposable incomes, and rising awareness of nutrition. Technological advancements in calcium lactate production and a shift toward clean-label and organic products further catalyze the market’s growth trajectory.
Market Snapshot:
Benchmark Year | 2023 | ||
Market Size | ~ USD 1.7 Billion in 2023 | ||
Market Growth (CAGR) | > 2% (2024 – 2030) | ||
Largest Market Share | Asia Pacific | ||
Analysis Period | 2020-2030 | ||
Market Players | Anheuser-Busch, Cargill Incorporation, Tyson Food Inc., Land O’Lakes Inc., Corbion, and Provimi |
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Market Drivers:
The global calcium lactate market is witnessing robust growth due to its increasing application across diverse industries, including food and beverages, pharmaceuticals, and agriculture. Its primary role in calcium fortification and supplementation addresses growing concerns about dietary calcium deficiency and its link to bone and overall health issues. This is particularly significant as, according to the Calcium Task Force, approximately 3.5 billion people worldwide are estimated to have insufficient calcium intake, with nearly 90% of these individuals residing in Africa and Asia, highlighting significant regional disparities in dietary calcium consumption. This highlights the need for calcium-enriched food products and supplements in these regions, driving demand for calcium lactate.
The market is further propelled by its versatile applications, including its use as an additive in animal feed and a soil conditioner in agriculture. With growing concerns about food security and sustainable farming, calcium lactate is increasingly recognized as an essential input for enhancing crop yields and improving livestock health. Moreover, rising awareness of preventive healthcare has fueled demand for calcium supplements in both developed and developing nations. Innovations in bioavailable calcium formulations, which improve absorption and efficacy, have further expanded its appeal across different consumer demographics. Additionally, the adoption of fortified and functional foods is on the rise, especially in emerging economies, as consumers seek convenient and efficient ways to meet their nutritional needs.
Market Trends:
Rising Demand in Nutraceuticals and Dietary Supplements: As awareness of calcium’s role in health continues to rise, especially regarding bone health and osteoporosis prevention, the demand for calcium supplements has surged. Calcium lactate, due to its superior solubility and bioavailability compared to other calcium salts, is increasingly used in nutraceuticals. This trend is reinforced by the growing focus on preventive healthcare, as people seek convenient ways to address calcium deficiencies. Additionally, calcium lactate’s non-irritating properties make it a preferred choice for supplements, further expanding its use across the global market.
Expanding Applications in the Food and Beverage Industry: Calcium lactate is primarily used in the food-grade sector for fortifying beverages and other processed foods. It plays a significant role in enriching products with calcium, especially in dairy alternatives and juices. The food and beverage segment is expected to maintain its dominance, accounting for approximately 40% of the market share by 2024. As consumers increasingly seek fortified, functional foods to meet their nutritional needs, the demand for ingredients like calcium lactate grows. This trend aligns with the shift towards health-conscious eating habits and the growing popularity of fortified and functional foods across various demographics.
Medical and Pharmaceutical Uses: Calcium lactate also sees widespread use in the pharmaceutical industry. It is used as a calcium supplement in the treatment of calcium deficiency-related conditions such as osteoporosis, rickets, and other bone disorders. Additionally, its role in medical formulations like intravenous calcium injections and calcium-enriched oral medications further contributes to the market’s growth. The increasing global health concerns regarding calcium deficiency and the need for calcium-based treatments are key drivers in expanding its use within the pharmaceutical sector.
Shift Toward Clean Label and Natural Ingredients: As consumers become more mindful of ingredient transparency, there is a growing demand for clean-label products, which are free from artificial additives and preservatives. Calcium lactate fits well within this trend due to its natural origins, being derived from lactic acid. This has made it an attractive ingredient in the cosmetics and personal care sectors, where it is used for its moisturizing, anti-inflammatory, and skin-conditioning properties. The increasing demand for clean, natural ingredients is further pushing the adoption of calcium lactate in personal care products like creams, lotions, and face masks.
Geographical Growth Trends: Geographical trends indicate that regions like China and the United States are showing high growth rates in calcium lactate production and consumption. In these countries, rising health awareness, coupled with increasing consumer demand for calcium supplements and fortified food products, is driving the market. China, in particular, is seeing substantial growth due to the increasing middle-class population and their growing focus on health and wellness. The United States, with its well-established market for functional foods and dietary supplements, remains a strong player in the calcium lactate market, supported by innovations in product formulations and health initiatives.
Market Opportunities:
The global calcium lactate market presents several promising opportunities across various industries, particularly in the food and beverage sector. As consumers continue to prioritize health and wellness, the demand for calcium-fortified products is increasing. Calcium lactate’s ability to provide a highly bioavailable form of calcium makes it a preferred ingredient for manufacturers of dietary supplements, functional foods, and beverages. The rise in consumer awareness regarding the importance of bone health and calcium intake offers a significant opportunity for companies to expand their product lines to meet the demand for fortified foods and beverages, especially in regions with high calcium deficiency rates like Asia and Africa. Additionally, as global health initiatives to combat osteoporosis and calcium deficiency gain momentum, manufacturers can explore new markets by tailoring calcium lactate products to specific regional needs, especially in developing countries with rising middle-class populations.
Another key opportunity lies in the pharmaceutical and personal care industries, where calcium lactate is gaining traction due to its natural properties and multiple health benefits. In the pharmaceutical sector, the compound’s use in calcium supplementation for treating osteoporosis and other calcium deficiency-related conditions is expanding. Furthermore, its natural, non-irritating properties make it an attractive ingredient for clean-label products in the cosmetics and personal care industry. As consumer demand shifts toward natural ingredients, there is increasing potential for calcium lactate in skincare products such as moisturizers, anti-aging creams, and other formulations. With the growing trend of incorporating natural, sustainable ingredients in cosmetics, calcium lactate’s versatility offers substantial growth opportunities.
Market Restraints:
The global calcium lactate market faces several challenges that hinder its growth. One of the primary restraints is the high cost of production, especially when compared to other calcium salts such as calcium carbonate or calcium citrate. This higher price can limit its adoption, particularly in cost-sensitive regions and markets where cheaper alternatives are preferred. Additionally, despite its superior bioavailability, calcium lactate competes with other calcium sources that are often more affordable and easier to source, making it less attractive for certain applications. The market also experiences regulatory challenges, as strict regulations in many countries regarding food additives, dietary supplements, and pharmaceuticals can slow the pace at which calcium lactate can be introduced into new products.
Market Insights:
The global calcium lactate market is bifurcated into grade, form, application, and geography. On the basis of application, the food and beverage segment dominated the market in the benchmark year 2023. This dominance is primarily driven by the growing consumer preference for fortified foods and beverages, especially those aimed at improving bone health. With calcium deficiencies being a global concern, especially in regions with low dairy consumption, the fortification of products like dairy alternatives, juices, and snacks with calcium lactate has become crucial. Additionally, the rising awareness of health and wellness among consumers, coupled with an increasing focus on preventive healthcare, boosts the demand for fortified foods. The expanding market for functional foods, combined with regulatory support for nutrient enrichment, further strengthens the position of this segment.
In contrast to other segments, the Food & Beverages sector offers consistent growth opportunities due to its broad consumer base and increasing adoption of fortified products. The versatility of calcium lactate in different food formats, from beverages to processed foods, has also contributed to its market leadership. As global trends in nutrition continue to prioritize calcium intake and the prevention of osteoporosis and other calcium deficiency-related conditions, this segment remains the largest and most influential in driving the market’s expansion.
Market Trends in the Food & Beverages Sub-Category:
- Demand for Functional Foods: Consumers are increasingly seeking functional foods and beverages that offer health benefits beyond basic nutrition, such as improving bone health. Calcium lactate is gaining popularity for fortifying products like plant-based milk and fruit juices. This trend is driven by a global concern over calcium deficiencies, especially in regions with low dairy consumption.
- Clean-Label Movement: As consumers prioritize transparency in food ingredients, the clean-label trend is on the rise. Calcium lactate, a natural compound, fits perfectly into this demand for minimally processed, natural ingredients. It is being used more in fortification of products like snacks, dairy alternatives, and beverages, offering a natural, safe calcium source for health-conscious consumers.
Market Opportunities in the Food & Beverages Sub-Category:
- Plant-Based and Dairy Alternatives: The shift toward plant-based diets creates opportunities for calcium lactate in products like almond, soy, and oat milk. As these alternatives often lack natural calcium, manufacturers are increasingly using calcium lactate to meet the nutritional needs of consumers looking to avoid dairy.
- Fortified Snacks: The growing demand for fortified snacks presents a significant opportunity. Products like granola bars and protein bars are increasingly being fortified with calcium lactate, providing consumers with a convenient and healthy source of calcium, especially in markets where bone health awareness is rising.
The calcium lactate market research report presents the analysis of each segment from 2020 to 2030 considering 2023 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2024 to 2030.
Historical & Forecast Period
- 2020-22 – Historical Year
- 2023 – Base Year
- 2024-2030 – Forecast Period
Market Segmentation:
By Grade:
- Feed Grade
- Food Grade
- Industrial Grade
- Pharmaceutical Grade
By Form:
- Granules
- Liquid
- Powder
- Tablets
By Application:
- Food & Beverages
- Pharmaceuticals
- Personal Care & Cosmetics
- Agriculture
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Regional Analysis:
Geographically, the Asia-Pacific region is currently the dominant market for calcium lactate, primarily due to its large population base, increasing health awareness, and growing demand for fortified food products. The region has a high prevalence of calcium deficiencies, particularly in countries with low dairy consumption, such as parts of China, India, and Southeast Asia. This has led to a significant rise in the fortification of foods and beverages with calcium, especially plant-based alternatives like milk substitutes, which are becoming more popular in these markets. Additionally, the increasing trend of health-conscious consumers seeking functional foods, along with an expanding pharmaceutical industry for calcium supplements, further boosts the demand for calcium lactate in the region.
Furthermore, North America is also a key player in the calcium lactate market, driven by strong demand for calcium supplements, particularly for bone health. However, Asia-Pacific’s dominance is attributed to its rapid economic growth, urbanization, and increasing adoption of fortified food products in daily diets. With the growing shift toward healthy eating habits, the region’s demand for food and beverage products enriched with calcium, especially in developing economies, continues to drive market growth. As calcium lactate is increasingly recognized for its superior bioavailability and effectiveness, its demand in Asia-Pacific is expected to continue expanding, reinforcing its dominant position in the market.
Competitive Landscape:
Some of the prominent market players operating in the global calcium lactate market are Anheuser-Busch, Cargill Incorporation, Tyson Food Inc., Land O’Lakes Inc., Corbion, and Provimi. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.
Key Companies:
- Anheuser-Busch
- Cargill Incorporation
- Tyson Food Inc.
- Land O’Lakes Inc.
- Corbion
- Provimi
- Jost Chemical Co.
- Nutrena
- Accion S.A.
- Henan Jindan Lactic Acid Technology Co Ltd.
- Galactic
- Shenzhen Esun Industrial Co., Ltd.
Key Questions Answered by Calcium Lactate Market Report
- Global calcium lactate market forecasts from 2024-2030
- Regional market forecasts from 2024-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
- Country-level forecasts from 2024-2030 covering 15 major countries from the regions as mentioned above
- Calcium lactate submarket forecasts from 2024-2030 covering the market by grade, form, application, and geography
- Various industry models such as SWOT analysis, Value Chain Analysis about the market
- Analysis of the key factors driving and restraining the growth of the global, regional, and country-level calcium lactate markets from 2024-2030
- Competitive Landscape and market positioning of top 10 players operating in the market
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions
2. Executive Summary
2.1. Global Calcium Lactate Market Portraiture
2.2. Global Calcium Lactate Market, by Grade, 2023 (USD Mn)
2.3. Global Calcium Lactate Market, by Form, 2023 (USD Mn)
2.4. Global Calcium Lactate Market, by Application, 2023 (USD Mn)
2.5. Global Calcium Lactate Market, by Geography, 2023 (USD Mn)
3. Global Calcium Lactate Market Analysis
3.1. Calcium Lactate Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Market Trends
3.5. Attractive Investment Proposition
3.6. Competitive Analysis
3.7. Porter’s Five Force Analysis
3.7.1. Bargaining Power of Suppliers
3.7.2. Bargaining Power of Buyers
3.7.3. Threat of New Entrants
3.7.4. Threat of Substitutes
3.7.5. Degree of Competition
3.8. PESTLE Analysis
4. Global Calcium Lactate Market by Grade, 2020 – 2030 (USD Mn)
4.1. Overview
4.2. Feed Grade
4.3. Food Grade
4.4. Industrial Grade
4.5. Pharmaceutical Grade
5. Global Calcium Lactate Market by Form, 2020 – 2030 (USD Mn)
5.1. Overview
5.2. Granules
5.3. Liquid
5.4. Powder
5.5. Tablets
6. Global Calcium Lactate Market by Application, 2020 – 2030 (USD Mn)
6.1. Overview
6.2. Food & Beverages
6.3. Pharmaceuticals
6.4. Personal Care & Cosmetics
6.5. Agriculture
6.6. Others
7. North America Calcium Lactate Market Analysis and Forecast, 2020 – 2030 (USD Mn)
7.1. Overview
7.2. North America Calcium Lactate Market by Grade, (2020-2030 USD Mn)
7.3. North America Calcium Lactate Market by Form, (2020-2030 USD Mn)
7.4. North America Calcium Lactate Market by Application, (2020-2030 USD Mn)
7.5. North America Calcium Lactate Market by Country, (2020-2030 USD Mn)
7.5.1. U.S.
7.5.1.1. U.S. Calcium Lactate Market by Grade, (2020-2030 USD Mn)
7.5.1.2. U.S. Calcium Lactate Market by Form, (2020-2030 USD Mn)
7.5.1.3. U.S. Calcium Lactate Market by Application, (2020-2030 USD Mn)
7.5.2. Canada
7.5.2.1. Canada Calcium Lactate Market by Grade, (2020-2030 USD Mn)
7.5.2.2. Canada Calcium Lactate Market by Form, (2020-2030 USD Mn)
7.5.2.3. Canada Calcium Lactate Market by Application, (2020-2030 USD Mn)
7.5.3. Mexico
7.5.3.1. Mexico Calcium Lactate Market by Grade, (2020-2030 USD Mn)
7.5.3.2. Mexico Calcium Lactate Market by Form, (2020-2030 USD Mn)
7.5.3.3. Mexico Calcium Lactate Market by Application, (2020-2030 USD Mn)
8. Europe Calcium Lactate Market Analysis and Forecast, 2020 - 2030 (USD Mn)
8.1. Overview
8.2. Europe Calcium Lactate Market by Grade, (2020-2030 USD Mn)
8.3. Europe Calcium Lactate Market by Form, (2020-2030 USD Mn)
8.4. Europe Calcium Lactate Market by Application, (2020-2030 USD Mn)
8.5. Europe Calcium Lactate Market by Country, (2020-2030 USD Mn)
8.5.1. Germany
8.5.1.1. Germany Calcium Lactate Market by Grade, (2020-2030 USD Mn)
8.5.1.2. Germany Calcium Lactate Market by Form, (2020-2030 USD Mn)
8.5.1.3. Germany Calcium Lactate Market by Application, (2020-2030 USD Mn)
8.5.2. U.K.
8.5.2.1. U.K. Calcium Lactate Market by Grade, (2020-2030 USD Mn)
8.5.2.2. U.K. Calcium Lactate Market by Form, (2020-2030 USD Mn)
8.5.2.3. U.K. Calcium Lactate Market by Application, (2020-2030 USD Mn)
8.5.3. France
8.5.3.1. France Calcium Lactate Market by Grade, (2020-2030 USD Mn)
8.5.3.2. France Calcium Lactate Market by Form, (2020-2030 USD Mn)
8.5.3.3. France Calcium Lactate Market by Application, (2020-2030 USD Mn)
8.5.4. Spain
8.5.4.1. Spain Calcium Lactate Market by Grade, (2020-2030 USD Mn)
8.5.4.2. Spain Calcium Lactate Market by Form, (2020-2030 USD Mn)
8.5.4.3. Spain Calcium Lactate Market by Application, (2020-2030 USD Mn)
8.5.5. Italy
8.5.5.1. Italy Calcium Lactate Market by Grade, (2020-2030 USD Mn)
8.5.5.2. Italy Calcium Lactate Market by Form, (2020-2030 USD Mn)
8.5.5.3. Italy Calcium Lactate Market by Application, (2020-2030 USD Mn)
8.5.6. Rest of Europe
8.5.6.1. Rest of Europe Calcium Lactate Market by Grade, (2020-2030 USD Mn)
8.5.6.2. Rest of Europe Calcium Lactate Market by Form, (2020-2030 USD Mn)
8.5.6.3. Rest of Europe Calcium Lactate Market by Application, (2020-2030 USD Mn)
9. Asia Pacific Calcium Lactate Market Analysis and Forecast, 2020 - 2030 (USD Mn)
9.1. Overview
9.2. Asia Pacific Calcium Lactate Market by Grade, (2020-2030 USD Mn)
9.3. Asia Pacific Calcium Lactate Market by Form, (2020-2030 USD Mn)
9.4. Asia Pacific Calcium Lactate Market by Application, (2020-2030 USD Mn)
9.5. Asia Pacific Calcium Lactate Market by Country, (2020-2030 USD Mn)
9.5.1. China
9.5.1.1. China Calcium Lactate Market by Grade, (2020-2030 USD Mn)
9.5.1.2. China Calcium Lactate Market by Form, (2020-2030 USD Mn)
9.5.1.3. China Calcium Lactate Market by Application, (2020-2030 USD Mn)
9.5.2. Japan
9.5.2.1. Japan Calcium Lactate Market by Grade, (2020-2030 USD Mn)
9.5.2.2. Japan Calcium Lactate Market by Form, (2020-2030 USD Mn)
9.5.2.3. Japan Calcium Lactate Market by Application, (2020-2030 USD Mn)
9.5.3. India
9.5.3.1. India Calcium Lactate Market by Grade, (2020-2030 USD Mn)
9.5.3.2. India Calcium Lactate Market by Form, (2020-2030 USD Mn)
9.5.3.3. India Calcium Lactate Market by Application, (2020-2030 USD Mn)
9.5.4. South Korea
9.5.4.1. South Korea Calcium Lactate Market by Grade, (2020-2030 USD Mn)
9.5.4.2. South Korea Calcium Lactate Market by Form, (2020-2030 USD Mn)
9.5.4.3. South Korea Calcium Lactate Market by Application, (2020-2030 USD Mn)
9.5.5. Rest of Asia Pacific
9.5.5.1. Rest of Asia Pacific Calcium Lactate Market by Grade, (2020-2030 USD Mn)
9.5.5.2. Rest of Asia Pacific Calcium Lactate Market by Form, (2020-2030 USD Mn)
9.5.5.3. Rest of Asia Pacific Calcium Lactate Market by Application, (2020-2030 USD Mn)
10. Latin America (LATAM) Calcium Lactate Market Analysis and Forecast, 2020 - 2030 (USD Mn)
10.1. Overview
10.2. Latin America Calcium Lactate Market by Grade, (2020-2030 USD Mn)
10.3. Latin America Calcium Lactate Market by Form, (2020-2030 USD Mn)
10.4. Latin America Calcium Lactate Market by Application, (2020-2030 USD Mn)
10.5. Latin America Calcium Lactate Market by Country, (2020-2030 USD Mn)
10.5.1. Brazil
10.5.1.1. Brazil Calcium Lactate Market by Grade, (2020-2030 USD Mn)
10.5.1.2. Brazil Calcium Lactate Market by Form, (2020-2030 USD Mn)
10.5.1.3. Brazil Calcium Lactate Market by Application, (2020-2030 USD Mn)
10.5.2. Argentina
10.5.2.1. Argentina Calcium Lactate Market by Grade, (2020-2030 USD Mn)
10.5.2.2. Argentina Calcium Lactate Market by Form, (2020-2030 USD Mn)
10.5.2.3. Argentina Calcium Lactate Market by Application, (2020-2030 USD Mn)
10.5.3. Rest of Latin America
10.5.3.1. Rest of Latin America Calcium Lactate Market by Grade, (2020-2030 USD Mn)
10.5.3.2. Rest of Latin America Calcium Lactate Market by Form, (2020-2030 USD Mn)
10.5.3.3. Rest of Latin America Calcium Lactate Market by Application, (2020-2030 USD Mn)
11. Middle East and Africa Calcium Lactate Market Analysis and Forecast, 2020 - 2030 (USD Mn)
11.1. Overview
11.2. MEA Calcium Lactate Market by Grade, (2020-2030 USD Mn)
11.3. MEA Calcium Lactate Market by Form, (2020-2030 USD Mn)
11.4. MEA Calcium Lactate Market by Application, (2020-2030 USD Mn)
11.5. Middle East and Africa Calcium Lactate Market, by Country, (2020-2030 USD Mn)
11.5.1. GCC
11.5.1.1. GCC Calcium Lactate Market by Grade, (2020-2030 USD Mn)
11.5.1.2. GCC Calcium Lactate Market by Form, (2020-2030 USD Mn)
11.5.1.3. GCC Calcium Lactate Market by Application, (2020-2030 USD Mn)
11.5.2. South Africa
11.5.2.1. South Africa Calcium Lactate Market by Grade, (2020-2030 USD Mn)
11.5.2.2. South Africa Calcium Lactate Market by Form, (2020-2030 USD Mn)
11.5.2.3. South Africa Calcium Lactate Market by Application, (2020-2030 USD Mn)
11.5.3. Rest of MEA
11.5.3.1. Rest of MEA Calcium Lactate Market by Grade, (2020-2030 USD Mn)
11.5.3.2. Rest of MEA Calcium Lactate Market by Form, (2020-2030 USD Mn)
11.5.3.3. Rest of MEA Calcium Lactate Market by Application, (2020-2030 USD Mn)
12. Competitive Landscape
12.1. Company Market Share Analysis, 2023
12.2. Competitive Dashboard
12.3. Competitive Benchmarking
12.4. Geographic Presence Heatmap Analysis
12.5. Company Evolution Matrix
12.5.1. Star
12.5.2. Pervasive
12.5.3. Emerging Leader
12.5.4. Participant
12.6. Strategic Analysis Heatmap Analysis
12.7. Key Developments and Growth Strategies
12.7.1. Mergers and Acquisitions
12.7.2. New Product Launch
12.7.3. Joint Ventures
12.7.4. Others
13. Company Profiles
13.1. Anheuser-Busch
13.1.1. Business Description
13.1.2. Financial Health and Budget Allocation
13.1.3. Product Positions/Portfolio
13.1.4. Recent Development
13.1.5. SWOT Analysis
13.2. Cargill Incorporation
13.3. Tyson Food Inc.
13.4. Land O'Lakes Inc.
13.5. Corbion
13.6. Provimi
13.7. Jost Chemical Co.
13.8. Nutrena
13.9. Accion S.A.
13.10. Henan Jindan Lactic Acid Technology Co Ltd.
13.11. Galactic
13.12. Shenzhen Esun Industrial Co., Ltd.
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