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Report Outlook
| Market Size | CAGR | Dominating Region |
|---|---|---|
| USD 2.5 Billion By 2029 | 9.6% | Asia Pacific |
| By Raw Material | By Source | By Application |
|---|---|---|
|
|
|
SCOPE OF THE REPORT
Lactic Acid Market Overview
The lactic acid market is expected to grow at 9.6% CAGR from 2022 to 2029. It is expected to reach above USD 2.5 Billion by 2029 from USD 1.2 Billion in 2021.
Lactic acid is a byproduct of anaerobic respiration, which takes place when cells produce energy without the presence of oxygen. A naturally occurring organic acid is lactic acid. Production involves both natural sources and artificial synthesis. It serves as a synthetic intermediate in a variety of biochemical and organic synthesis industries. The conjugate base of lactic acid is lactate. It helps to remove dead skin cells from the epidermis, or top layer of skin, and it encourages cell turnover. When lactic acid is applied to the skin at a 12 percent concentration, the skin gets firmer.
As a result, there are fewer flaws and deep wrinkles, and the appearance is generally better. By using lactic acid, one notices a fairer, brighter skin. Dark spots, wrinkles, and enlarged pores can all be diminished as a result of using it. Lactic acid and probiotic supplements can help fragile skin. Together, they can treat some inflammatory responses and return the skin’s microbiology to balance. Food is prepared with lactic acid as a preservative, curer, and flavoring ingredient. It can be found in processed foods and is used in the meat processing sector as a decontaminant.
| ATTRIBUTE | DETAILS |
| Study period | 2020-2029 |
| Base year | 2021 |
| Estimated year | 2022 |
| Forecasted year | 2022-2029 |
| Historical period | 2018-2020 |
| Unit | Value (USD Billion), Value (tons) |
| Segmentation | By raw material, By source, By Application, By Region |
| By raw material |
|
| By source |
|
| By application |
|
| By Region |
|
Lactic acid is predicted to be used in a range of end-use industries, most notably the pharmaceutical and food and beverage industries. This is especially true in the extremely populous countries of China, India, and Indonesia. The benefit of using lactic acid in the food and beverage sector is that food quality that is packaged and stored for the majority of its commercial cycle is prevented from degrading.
Global demand for culinary applications is one of the main factors propelling the growth of the lactic acid market. Pickled vegetables, yoghurt, and baked goods are just a few examples of foods that naturally contain lactic acid as a preservative. Fermentation in Lactobacillus and Streptococcus cultures results in the production of lactic acid. It is a cheap, minimally processed preservative. The bacteria turn sugar into energy, which leads to the production of lactic acid. The increase in shelf life is a result of lactic acid’s role in pH management and microbial growth inhibition. The rising usage of anti-aging and anti-acne products is another motivating factor. Supplements containing probiotics and lactic acid can benefit sensitive skin. Moreover, due to its effectiveness in treating dry skin, it is frequently used for its hydrating characteristic in many cosmetic products. One of the lactic acid markets with the fastest growth is the one for biodegradable polymers, which helps the growth of the polylactic acid (PLA) sector.
Many challenges could prevent the lactic acid market from expanding. The first factor that can affect the market’s expansion is the cost and accessibility of the raw materials used to make lactic acid, such as corn starch and sugarcane. Second, lactic acid synthesis requires a lot of energy, which raises production costs and compromises the product’s affordability. Lastly, the regulatory framework around the usage of lactic acid in various applications may have an impact on the market potential for this substance. The development of the lactic acid market may also be threatened by rivalry from other bio-based goods like succinic acid and citric acid.
There are numerous opportunities for growth and expansion in the lactic acid industry. First off, lactic acid has a considerable chance for growth due to the increasing demand for eco-friendly and bio-based products across a range of industries, including food and beverage, personal care, and pharmaceuticals. Second, the demand for lactic acid is further fueled by the increased emphasis on sustainable production and consumption practices as well as the growing consumer awareness of the advantages of using natural and organic products. Thirdly, the creation of novel and creative uses for lactic acid, such as biodegradable plastics and biopolymers, expands the product’s market. The development of new technologies that allow for the manufacturing of lactic acid to be more affordable and sustainable may also spur market expansion.
Numerous sectors have seen tremendous growth as a result of the COVID-19 epidemic. At first, travel restrictions and widespread lockdowns have had a big impact on the worldwide supply chains of the food, beverage, and cosmetics industries. The coronavirus outbreak, on the other hand, has benefited the expansion of the packaging sector. Due to its safety, durability, and affordability, plastic packaging was chosen by many food makers. The COVID-19 outbreak has benefited the expansion of the packaging sector. However it has led to a significant increase in demand for plastic packaging. Moreover, plastic packaging is widely used by food makers since it is reliable, durable, and affordable. In order to ensure hygiene and safety, customers are using packaged food goods due to the increasing demand for food and beverage packaging during the pandemic.
Lactic Acid Market Segment Analysis
The lactic acid market is segmented based on raw material, source, application and region. By raw material market is segmented into sugarcane, corn, yeast extract others; by source market is segmented into natural and synthetic; by application market is segmented into PLA, food and beverages, pharmaceutical, cosmetic and personal care, others, and region.
The sugar cane category is anticipated to hold the biggest market share in the following years based on raw materials. The market has historically been controlled by the sugar cane category, which has the highest revenue market share. The maize segment will have strong growth during the predicted period in addition to the sugar cane segment. Since corn is a sustainable product with rising demand in the years to come, the corn section is predicted to grow well. Yeast is also utilized as a raw material in the production of lactic acid, in addition to sugar cane and corn. This choice is a little pricier.
Throughout the forecast period, it is expected that demand for the natural category would rise. Consumer knowledge of good eating practices and nutrition has increased as a result of rising rates of health issues. Also, growing economies like China and India have seen a boost in health and fitness awareness, which is supporting the expansion of this market. The growing trend of veganism, changing lifestyles, and increased customer preference for natural and organic products all contribute to the growth of this market.
In the upcoming years, the PLA application category is probably going to hold the majority of the market share. The market will develop as a result of the rising demand for PLA in the food packaging, automotive, textile, engineering plastic, and other industries. The product is typically regarded as food safe as it was made from biodegradable materials. Several edible products naturally contain lactic acid, which is a crucial element in the food business. It is not poisonous, making it a substance that is “Generally Recognized as Safe” (GRAS). Moreover, the product is utilized in a variety of food applications, including drinks, baked goods, sweets, meat, salads, dairy, ready meals, and others. It functions in food goods as a preservative, flavoring ingredient, or pH regulator.
Lactic Acid Market Key Players:
The lactic acid market key players include BASF SE, Cargill, COFCO, Corbion N.V., Danimer Scientific, DuPont de Nemours Inc., FoodChem International, Godavari Biorefineries, ProAgro GmbH, Spectrum Chemicals, Vigon International, and others.
Recent Developments:
- 01 March 2023: In order to develop and expedite the wide-scale commercialization of CUBIQ FOODS’ innovative fat technologies, Cargill and the young food-tech company CUBIQ FOODS signed product co-development and commercial go-to-market agreements. These agreements respond to the demand for healthier, more sustainable, and better-tasting solutions.
- 28 December 2021: In order to support a more traceable and sustainable soy supply chain in Matopiba, a region situated within Brazil’s biodiversity hotspot – the Cerrado Biome – COFCO International teamed together with the International Financial Corporation (IFC), a member of the Good Growth Partnership.
Who Should Buy? Or Key stakeholders
- Manufacturers
- Traders and distributors
- End-users companies
- Government organizations
- Research organizations
- Investment research firms
- Others
Lactic Acid Market Regional Analysis
The lactic acid market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).
- North America: includes the US, Canada, Mexico, Rest of North America
- Asia Pacific: includes China, Japan, South Korea, India, Australia, and Rest of APAC
- Europe: includes UK, Germany, France, Italy, Russia, Spain, and Rest of Europe
- South America: includes Brazil, Argentina, Colombia and Rest of South America
- Middle East & Africa: includes UAE, Saudi Arabia, South Africa, and Rest of MEA
In 2021, Asia Pacific dominated the worldwide lactic acid market, and it is anticipated that this trend will hold during the forecast period. This is a result of the expanding food and beverage, personal care, and pharmaceutical sectors in the area. Additionally, it is anticipated that rising healthcare costs and a burgeoning pharmaceutical industry will boost regional market expansion. The lactic acid market in Asia Pacific is anticipated to increase significantly over the forecast period. This is due to the region’s increased use of the substance as a food additive. In the near future, it is also anticipated that the availability of inexpensive raw materials and technological innovation would boost the expansion of the lactic acid market.
By 2029, the lactic acid market in North America is anticipated to grow at a rate of over 9.6%. Basic chemicals are increasingly needed in the area, particularly by the building industry. For a number of compounds, including esters, biosolvents, pyruvic acid, and acrylic acid, lactic acid is a crucial precursor. The rise of the chemicals sector and the advancement of national market trends are likely to be fueled by the abundance of feedstock and energy resources.
Key Market Segments: Lactic Acid Market
Lactic Acid Market By Raw Material , 2020-2029, (USD Billion, Tons)
- Sugarcane
- Corn
- Yeast Extract
- Others
Lactic Acid Market By Source , 2020-2029, (USD Billion, Tons)
- Natural
- Synthetic
Lactic Acid Market By Application, 2020-2029, (USD Billion, Tons)
- Pla
- Food And Beverages
- Cosmetics & Personal Care
- Pharmaceuticals
- Others
Lactic Acid Market By Region, 2020-2029, (USD Billion, Tons)
- North America
- Asia Pacific
- Europe
- South America
- Middle East And Africa
Important Countries In All Regions Are Covered.
Exactitude Consultancy Services Key Objectives:
- Increasing sales and market share
- Developing new technology
- Improving profitability
- Entering new markets
- Enhancing brand reputation
Key Question Answered
- What is the expected growth rate of the lactic acid market over the next 7 years?
- What are the end-user industries driving demand for market and what is their outlook?
- What are the opportunities for growth in emerging markets such as Asia-pacific, Middle East, and Africa?
- How is the economic environment affecting the lactic acid market, including factors such as interest rates, inflation, and exchange rates?
- What is the expected impact of government policies and regulations on the lactic acid market?
- What is the current and forecasted size and growth rate of the global lactic acid market?
- What are the key drivers of growth in the lactic acid market?
- Who are the major players in the market and what is their market share?
- What are the distribution channels and supply chain dynamics in the lactic acid market?
- What are the technological advancements and innovations in the lactic acid market and their impact on product development and growth?
- What are the regulatory considerations and their impact on the market?
- What are the challenges faced by players in the lactic acid market and how are they addressing these challenges?
- What are the opportunities for growth and expansion in the lactic acid market?
- What are the service offerings and specifications of leading players in the market?
- What is the pricing trend of medical tubing in the market and what is the impact of raw material prices on the price trend?
Table of Content
- INTRODUCTION
- MARKET DEFINITION
- MARKET SEGMENTATION
- RESEARCH TIMELINES
- ASSUMPTIONS AND LIMITATIONS
- RESEARCH METHODOLOGY
- DATA MINING
- SECONDARY RESEARCH
- PRIMARY RESEARCH
- SUBJECT-MATTER EXPERTS’ ADVICE
- QUALITY CHECKS
- FINAL REVIEW
- DATA TRIANGULATION
- BOTTOM-UP APPROACH
- TOP-DOWN APPROACH
- RESEARCH FLOW
- DATA SOURCES
- DATA MINING
- EXECUTIVE SUMMARY
- MARKET OVERVIEW
- GLOBAL LACTIC ACID MARKET OUTLOOK
- MARKET DRIVERS
- MARKET RESTRAINTS
- MARKET OPPORTUNITIES
- IMPACT OF COVID-19 ON LACTIC ACID MARKET
- PORTER’S FIVE FORCES MODEL
- THREAT FROM NEW ENTRANTS
- THREAT FROM SUBSTITUTES
- BARGAINING POWER OF SUPPLIERS
- BARGAINING POWER OF CUSTOMERS
- DEGREE OF COMPETITION
- INDUSTRY VALUE CHAIN ANALYSIS
- GLOBAL LACTIC ACID MARKET OUTLOOK
- GLOBAL LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION, TONS), 2020-2029
- SUGARCANE
- CORN
- YEAST EXTRACT
- OTHERS
- GLOBAL LACTIC ACID MARKET BY SOURCE (USD BILLION, TONS),2020-2029
- NATURAL
- SYNTHETIC
- GLOBAL LACTIC ACID MARKET BY APPLICATION(USD BILLION, TONS),2020-2029
- PLA
- FOOD AND BEVERAGES
- COSMETICS & PERSONAL CARE
- PHARMACEUTICALS
- OTHERS
- GLOBAL LACTIC ACID MARKET BY REGION (USD BILLION, TONS),2020-2029
- NORTH AMERICA
- US
- CANADA
- MEXICO
- REST OF NORTH AMERICA
- SOUTH AMERICA
- BRAZIL
- ARGENTINA
- COLOMBIA
- REST OF SOUTH AMERICA
- EUROPE
- GERMANY
- UK
- FRANCE
- ITALY
- SPAIN
- RUSSIA
- REST OF EUROPE
- ASIA PACIFIC
- INDIA
- CHINA
- JAPAN
- SOUTH KOREA
- AUSTRALIA
- REST OF ASIA PACIFIC
- MIDDLE EAST AND AFRICA
- UAE
- SAUDI ARABIA
- SOUTH AFRICA
- REST OF MIDDLE EAST AND AFRICA
- NORTH AMERICA
- COMPANY PROFILES* (BUSINESS OVERVIEW, COMPANY SNAPSHOT, PRODUCTS OFFERED, RECENT DEVELOPMENTS)
- BASF SE
- CARGILL
- COFCO
- CORBION N.V.
- DANIMER SCIENTIFIC
- DUPONT DE NEMOURS INC.
- FOODCHEM INTERNATIONAL
- GODAVARI BIOREFINERIES
- PROAGRO GMBH
- SPECTRUM CHEMICALS
- VIGON INTERNATIONAL *THE COMPANY LIST IS INDICATIVE
LIST OF TABLES
TABLE 1Â Â Â Â Â Â Â Â Â GLOBAL LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 2Â Â Â Â Â Â Â Â Â GLOBAL LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 3Â Â Â Â Â Â Â Â Â GLOBAL LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 4Â Â Â Â Â Â Â Â Â GLOBAL LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 5Â Â Â Â Â Â Â Â Â GLOBAL LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 6Â Â Â Â Â Â Â Â Â GLOBAL LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 7Â Â Â Â Â Â Â Â Â GLOBAL LACTIC ACID MARKET BY REGION (USD BILLION), 2020-2029
TABLE 8Â Â Â Â Â Â Â Â Â GLOBAL LACTIC ACID MARKET BY REGION (TONS), 2020-2029
TABLE 9Â Â Â Â Â Â Â Â Â NORTH AMERICA LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 10Â Â Â Â Â Â Â NORTH AMERICA LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 11Â Â Â Â Â Â Â NORTH AMERICA LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 12Â Â Â Â Â Â Â NORTH AMERICA LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 13Â Â Â Â Â Â Â NORTH AMERICA LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 14Â Â Â Â Â Â Â NORTH AMERICA LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 15Â Â Â Â Â Â Â NORTH AMERICA LACTIC ACID MARKET BY COUNTRY (USD BILLION), 2020-2029
TABLE 16Â Â Â Â Â Â Â NORTH AMERICA LACTIC ACID MARKET BY COUNTRY (USD BILLION), 2020-2029
TABLE 17Â Â Â Â Â Â Â US LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 18Â Â Â Â Â Â Â US LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 19Â Â Â Â Â Â Â US LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 20Â Â Â Â Â Â Â US LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 21Â Â Â Â Â Â Â US LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 22Â Â Â Â Â Â Â US LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 23Â Â Â Â Â Â Â CANADA LACTIC ACID MARKET BY RAW MATERIAL (BILLION), 2020-2029
TABLE 24Â Â Â Â Â Â Â CANADA LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 25Â Â Â Â Â Â Â CANADA LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 26Â Â Â Â Â Â Â CANADA LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 27Â Â Â Â Â Â Â CANADA LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 28Â Â Â Â Â Â Â CANADA LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 29Â Â Â Â Â Â Â MEXICO LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 30Â Â Â Â Â Â Â MEXICO LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 31Â Â Â Â Â Â Â MEXICO LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 32Â Â Â Â Â Â Â MEXICO LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 33Â Â Â Â Â Â Â MEXICO LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 34Â Â Â Â Â Â Â MEXICO LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 35Â Â Â Â Â Â Â REST OF NORTH AMERICA LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 36Â Â Â Â Â Â Â REST OF NORTH AMERICA LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 37Â Â Â Â Â Â Â REST OF NORTH AMERICA LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 38Â Â Â Â Â Â Â REST OF NORTH AMERICA LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 39Â Â Â Â Â Â Â REST OF NORTH AMERICA LACTIC ACID MARKET BY APPLICATIONN (USD BILLION), 2020-2029
TABLE 40Â Â Â Â Â Â Â REST OF NORTH AMERICA LACTIC ACID MARKET BY APPLICATIONN (TONS), 2020-2029
TABLE 41Â Â Â Â Â Â Â SOUTH AMERICA LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 42Â Â Â Â Â Â Â SOUTH AMERICA LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 43Â Â Â Â Â Â Â SOUTH AMERICA LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 44Â Â Â Â Â Â Â SOUTH AMERICA LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 45Â Â Â Â Â Â Â SOUTH AMERICA LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 46Â Â Â Â Â Â Â SOUTH AMERICA LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 47Â Â Â Â Â Â Â SOUTH AMERICA LACTIC ACID MARKET BY COUNTRY (USD BILLION), 2020-2029
TABLE 48Â Â Â Â Â Â Â SOUTH AMERICA LACTIC ACID MARKET BY COUNTRY (USD BILLION), 2020-2029
TABLE 49Â Â Â Â Â Â Â BRAZIL LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 50Â Â Â Â Â Â Â BRAZIL LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 51Â Â Â Â Â Â Â BRAZIL LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 52Â Â Â Â Â Â Â BRAZIL LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 53Â Â Â Â Â Â Â BRAZIL LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 54Â Â Â Â Â Â Â BRAZIL LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 55Â Â Â Â Â Â Â ARGENTINA LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 56Â Â Â Â Â Â Â ARGENTINA LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 57Â Â Â Â Â Â Â ARGENTINA LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 58Â Â Â Â Â Â Â ARGENTINA LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 59Â Â Â Â Â Â Â ARGENTINA LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 60Â Â Â Â Â Â Â ARGENTINA LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 61Â Â Â Â Â Â Â COLOMBIA LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 62Â Â Â Â Â Â Â COLOMBIA LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 63Â Â Â Â Â Â Â COLOMBIA LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 64Â Â Â Â Â Â Â COLOMBIA LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 65Â Â Â Â Â Â Â COLOMBIA LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 66Â Â Â Â Â Â Â COLOMBIA LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 67Â Â Â Â Â Â Â REST OF SOUTH AMERICA LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 68Â Â Â Â Â Â Â REST OF SOUTH AMERICA LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 69Â Â Â Â Â Â Â REST OF SOUTH AMERICA LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 70Â Â Â Â Â Â Â REST OF SOUTH AMERICA LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 71Â Â Â Â Â Â Â REST OF SOUTH AMERICA LACTIC ACID MARKET BY APPLICATIONN (USD BILLION), 2020-2029
TABLE 72Â Â Â Â Â Â Â REST OF SOUTH AMERICA LACTIC ACID MARKET BY APPLICATIONN (TONS), 2020-2029
TABLE 73Â Â Â Â Â Â Â ASIA -PACIFIC LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 74Â Â Â Â Â Â Â ASIA -PACIFIC LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 75Â Â Â Â Â Â Â ASIA -PACIFIC LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 76Â Â Â Â Â Â Â ASIA -PACIFIC LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 77Â Â Â Â Â Â Â ASIA -PACIFIC LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 78Â Â Â Â Â Â Â ASIA -PACIFIC LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 79Â Â Â Â Â Â Â ASIA -PACIFIC LACTIC ACID MARKET BY COUNTRY (USD BILLION), 2020-2029
TABLE 80Â Â Â Â Â Â Â ASIA -PACIFIC LACTIC ACID MARKET BY COUNTRY (TONS), 2020-2029
TABLE 81Â Â Â Â Â Â Â INDIA LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 82Â Â Â Â Â Â Â INDIA LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 83Â Â Â Â Â Â Â INDIA LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 84Â Â Â Â Â Â Â INDIA LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 85Â Â Â Â Â Â Â INDIA LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 86Â Â Â Â Â Â Â INDIA LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 87Â Â Â Â Â Â Â CHINA LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 88Â Â Â Â Â Â Â CHINA LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 89Â Â Â Â Â Â Â CHINA LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 90Â Â Â Â Â Â Â CHINA LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 91Â Â Â Â Â Â Â CHINA LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 92Â Â Â Â Â Â Â CHINA LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 93Â Â Â Â Â Â Â JAPAN LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 94Â Â Â Â Â Â Â JAPAN LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 95Â Â Â Â Â Â Â JAPAN LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 96Â Â Â Â Â Â Â JAPAN LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 97Â Â Â Â Â Â Â JAPAN LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 98Â Â Â Â Â Â Â JAPAN LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 99Â Â Â Â Â Â Â SOUTH KOREA LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 100Â Â Â Â Â SOUTH KOREA LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 101Â Â Â Â Â SOUTH KOREA LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 102Â Â Â Â Â SOUTH KOREA LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 103Â Â Â Â Â SOUTH KOREA LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 104Â Â Â Â Â SOUTH KOREA LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 105Â Â Â Â Â AUSTRALIA LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 106Â Â Â Â Â AUSTRALIA LACTIC ACID MARKET BY SOURCE BY RAW MATERIAL (TONS), 2020-2029
TABLE 107Â Â Â Â Â AUSTRALIA LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 108Â Â Â Â Â AUSTRALIA LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 109Â Â Â Â Â AUSTRALIA LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 110Â Â Â Â Â AUSTRALIA LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 111Â Â Â Â Â REST OF ASIA PACIFIC LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 112Â Â Â Â Â REST OF ASIA PACIFIC LACTIC ACID MARKET BY SOURCE BY RAW MATERIAL (TONS), 2020-2029
TABLE 113Â Â Â Â Â REST OF ASIA PACIFIC LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 114Â Â Â Â Â REST OF ASIA PACIFIC LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 115Â Â Â Â Â REST OF ASIA PACIFIC LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 116Â Â Â Â Â REST OF ASIA PACIFIC LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 117Â Â Â Â Â EUROPE LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 118Â Â Â Â Â EUROPE LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 119Â Â Â Â Â EUROPE LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 120Â Â Â Â Â EUROPE LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 121Â Â Â Â Â EUROPE LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 122Â Â Â Â Â EUROPE LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 123Â Â Â Â Â EUROPE LACTIC ACID MARKET BY COUNTRY (USD BILLION), 2020-2029
TABLE 124Â Â Â Â Â EUROPE LACTIC ACID MARKET BY COUNTRY (TONS), 2020-2029
TABLE 125Â Â Â Â Â GERMANY LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 126Â Â Â Â Â GERMANY LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 127Â Â Â Â Â GERMANY LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 128Â Â Â Â Â GERMANY LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 129Â Â Â Â Â GERMANY LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 130Â Â Â Â Â GERMANY LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 131Â Â Â Â Â UK LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 132Â Â Â Â Â UK LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 133Â Â Â Â Â UK LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 134Â Â Â Â Â UK LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 135Â Â Â Â Â UK LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 136Â Â Â Â Â UK LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 137Â Â Â Â Â FRANCE LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 138Â Â Â Â Â FRANCE LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 139Â Â Â Â Â FRANCE LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 140Â Â Â Â Â FRANCE LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 141Â Â Â Â Â FRANCE LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 142Â Â Â Â Â FRANCE LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 143Â Â Â Â Â ITALY LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 144Â Â Â Â Â ITALY LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 145Â Â Â Â Â ITALY LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 146Â Â Â Â Â ITALY LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 147Â Â Â Â Â ITALY LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 148Â Â Â Â Â ITALY LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 149Â Â Â Â Â SPAIN LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 150Â Â Â Â Â SPAIN LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 151Â Â Â Â Â SPAIN LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 152Â Â Â Â Â SPAIN LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 153Â Â Â Â Â SPAIN LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 154Â Â Â Â Â SPAIN LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 155Â Â Â Â Â RUSSIA LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 156Â Â Â Â Â RUSSIA LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 157Â Â Â Â Â RUSSIA LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 158Â Â Â Â Â RUSSIA LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 159Â Â Â Â Â RUSSIA LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 160Â Â Â Â Â RUSSIA LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 161Â Â Â Â Â REST OF EUROPE LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 162Â Â Â Â Â REST OF EUROPE LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 163Â Â Â Â Â REST OF EUROPE LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 164Â Â Â Â Â REST OF EUROPE LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 165Â Â Â Â Â REST OF EUROPE LACTIC ACID MARKET BY APPLICATIONN (USD BILLION), 2020-2029
TABLE 166Â Â Â Â Â REST OF EUROPE LACTIC ACID MARKET BY APPLICATIONN (TONS), 2020-2029
TABLE 167Â Â Â Â Â MIDDLE EAST AND AFRICA LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 168Â Â Â Â Â MIDDLE EAST AND AFRICA LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 169Â Â Â Â Â MIDDLE EAST AND AFRICA LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 170Â Â Â Â Â MIDDLE EAST AND AFRICA LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 171Â Â Â Â Â MIDDLE EAST AND AFRICA LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 172Â Â Â Â Â MIDDLE EAST AND AFRICA LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 173Â Â Â Â Â MIDDLE EAST ABD AFRICA LACTIC ACID MARKET BY COUNTRY (USD BILLION), 2020-2029
TABLE 174Â Â Â Â Â MIDDLE EAST ABD AFRICA LACTIC ACID MARKET BY COUNTRY (TONS), 2020-2029
TABLE 175Â Â Â Â Â UAE LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 176Â Â Â Â Â UAE LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 177Â Â Â Â Â UAE LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 178Â Â Â Â Â UAE LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 179Â Â Â Â Â UAE LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 180Â Â Â Â Â UAE LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 181Â Â Â Â Â SAUDI ARABIA LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 182Â Â Â Â Â SAUDI ARABIA LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 183Â Â Â Â Â SAUDI ARABIA LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 184Â Â Â Â Â SAUDI ARABIA LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 185Â Â Â Â Â SAUDI ARABIA LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 186Â Â Â Â Â SAUDI ARABIA LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 187Â Â Â Â Â SOUTH AFRICA LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 188Â Â Â Â Â SOUTH AFRICA LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 189Â Â Â Â Â SOUTH AFRICA LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 190Â Â Â Â Â SOUTH AFRICA LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 191Â Â Â Â Â SOUTH AFRICA LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 192Â Â Â Â Â SOUTH AFRICA LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
TABLE 193Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA LACTIC ACID MARKET BY RAW MATERIAL (USD BILLION), 2020-2029
TABLE 194Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA LACTIC ACID MARKET BY RAW MATERIAL (TONS), 2020-2029
TABLE 195Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA LACTIC ACID MARKETBY SOURCE (USD BILLION), 2020-2029
TABLE 196Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA LACTIC ACID MARKET BY SOURCE (TONS), 2020-2029
TABLE 197Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA LACTIC ACID MARKET BY APPLICATION (USD BILLION), 2020-2029
TABLE 198Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA LACTIC ACID MARKET BY APPLICATION (TONS), 2020-2029
LIST OF FIGURES
FIGURE 1Â Â Â Â Â Â Â Â Â Â Â Â Â MARKET DYNAMICS
FIGURE 2Â Â Â Â Â Â Â Â Â Â Â Â Â MARKET SEGMENTATION
FIGURE 3Â Â Â Â Â Â Â Â Â Â Â Â Â REPORT TIMELINES: YEARS CONSIDERED
FIGURE 4Â Â Â Â Â Â Â Â Â Â Â Â Â DATA TRIANGULATION
FIGURE 5Â Â Â Â Â Â Â Â Â Â Â Â Â BOTTOM-UP APPROACH
FIGURE 6Â Â Â Â Â Â Â Â Â Â Â Â Â TOP-DOWN APPROACH
FIGURE 7Â Â Â Â Â Â Â Â Â Â Â Â Â RESEARCH FLOW
FIGURE 8Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL LACTIC ACID MARKET BY RAW MATERIAL, USD BILLION, 2020-2029
FIGURE 9Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL LACTIC ACID MARKET BY SOURCE, USD BILLION, 2020-2029
FIGURE 10Â Â Â Â Â Â Â Â Â Â GLOBAL LACTIC ACID MARKET BY APPLICATION, USD BILLION, 2021
FIGURE 11Â Â Â Â Â Â Â Â Â Â GLOBAL LACTIC ACID MARKET BY REGION, USD BILLION, 2020-2029
FIGURE 12          PORTER’S FIVE FORCES MODEL
FIGURE 13Â Â Â Â Â Â Â Â Â Â GLOBAL LACTIC ACID MARKET BY RAW MATERIAL, USD BILLION, 2021
FIGURE 14Â Â Â Â Â Â Â Â Â Â GLOBAL LACTIC ACID MARKET BY SOURCE, USD BILLION, 2021
FIGURE 15Â Â Â Â Â Â Â Â Â Â GLOBAL LACTIC ACID MARKET BY APPLICATION, USD BILLION, 2021
FIGURE 16Â Â Â Â Â Â Â Â Â Â GLOBAL LACTIC ACID MARKET BY REGION, USD BILLION, 2021
FIGURE 17Â Â Â Â Â Â Â Â Â Â MARKET SHARE ANALYSIS
FIGURE 18Â Â Â Â Â Â Â Â Â Â BASF SE: COMPANY SNAPSHOT
FIGURE 19Â Â Â Â Â Â Â Â Â Â CARGILL: COMPANY SNAPSHOT
FIGURE 20Â Â Â Â Â Â Â Â Â Â COFCO: COMPANY SNAPSHOT
FIGURE 21Â Â Â Â Â Â Â Â Â Â CORBION N.V.: COMPANY SNAPSHOT
FIGURE 22Â Â Â Â Â Â Â Â Â Â DANIMER SCIENTIFIC: COMPANY SNAPSHOT
FIGURE 23Â Â Â Â Â Â Â Â Â Â DUPONT DE NEMOURS INC.: COMPANY SNAPSHOT
FIGURE 24Â Â Â Â Â Â Â Â Â Â FOODCHEM INTERNATIONAL: COMPANY SNAPSHOT
FIGURE 25Â Â Â Â Â Â Â Â Â Â GODAVARI BIOREFINERIES: COMPANY SNAPSHOT
FIGURE 26Â Â Â Â Â Â Â Â Â Â PROAGRO GMBH: COMPANY SNAPSHOT
FIGURE 27Â Â Â Â Â Â Â Â Â Â SPECTRUM CHEMICALS: COMPANY SNAPSHOT
FIGURE 28Â Â Â Â Â Â Â Â Â Â VIGON INTERNATIONAL: COMPANY SNAPSHOT
FAQ
Lactic acid market was valued at USD 1.3 billion in 2022 and is projected to reach USD 2.5 billion by 2029, growing at a CAGR of 9.6% from 2022 to 2029.
Growing consumer preference for bio-based and organic food preservatives is driving the global market size.
The major players are BASF SE, Cargill, COFCO, Corbion N.V., Danimer Scientific, DuPont de Nemours Inc., FoodChem International, Godavari Biorefineries, ProAgro GmbH, Spectrum Chemicals, Vigon International.
The global lactic acid market is segmented on the basis of raw material, source, application, and geography.
The food and beverages application segment for global lactic acid is predicted to register a rapid growth.
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