Lactic Acid Industry Overview
The global lactic acid market size was estimated at USD 3.37 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2030.
The usage of this form in various end use industries including pharmaceuticals, food & beverages majorly in emerging economies such as India, China, and Indonesia are anticipated to drive demand for this form over forecast period.
Gather more insights about the market drivers, restrains and growth of the Lactic Acid Market
This product is majorly used in formation of PLA, which is a biodegradable polymer, compostable thermoplastic made from renewable sources such as fermentation processes. This chemical is Generally Recognized As Safe (GRAS) and has great market potential in food industry being recognized as harmless By United States Food & Drug Administration. It can be alternatively produced by chemical synthesis or fermentation.
It is considered as one of well-known organic acids having wide range of industrial applications. The four main applications of this form are in food, chemical, pharmaceutical, and cosmetics industries. This form is a lactic bacteria which refer to a large group of beneficial bacteria having probiotic properties. Additionally, it plays a crucial role in the preparation of wine making, pickling, sausages, curing fish, meat, vegetables baking, and preparation of fermented dairy forms.
The product is not only a significant ingredient in fermented foods, including, canned vegetables, yogurt, and butter, but is also used as a preservative in pickled vegetables and olives. This naturally occurring organic acid, is used in a variety of applications, including food & beverages, pharmaceutical, cosmetics, chemicals, and industrial.
This is a one of large-scale organic acid produced, most commonly used feedstock are carbohydrates obtained from different sources such as sugarcane, corn starch, and others. As compared to mineral variations, organic ones does not completely dissociate in water.
Browse through Grand View Research's Specialty Polymers Industry Research Reports.
- The global cosmetics market size was estimated at USD 295.95 billion in 2023 and is expected to grow at a CAGR of 6.1% from 2024 to 2030.
- The global polylactic acid market size was estimated at USD 713.22 million in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 21.4% from 2024 to 2030.
Lactic Acid Market Segmentation
Grand View Research has segmented the global lactic acid market based on raw material, form, application, and region:
Lactic Acid Raw Material Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
Lactic Acid Form Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Lactic Acid Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
Lactic Acid Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2030)
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- The Netherlands
- Asia Pacific
- China
- Japan
- Malaysia
- India
- Indonesia
- Philippines
- Australia
- New Zealand
- Central & South America
- Middle East & Africa
Key Companies profiled:
- BASF SE
- Galactic
- Musashino Chemical (China) Co., Ltd.
- Futerro
- Corbion
- Dow
- TEIJIN LIMITED
- NatureWorks LLC
- Henan Jindan Lactic Acid Technology Co. Ltd.
- thyssenkrupp AG
- Cellulac
- Jungbunzlauer Suisse AG
- Vaishnavi Bio Tech
- Danimer Scientific
Key Lactic Acid Company Insights
Companies are engaging in mergers, and acquisitions, with an aim to strengthen their manufacturing capacities, form portfolio and offer a competitive form range. Manufacturing companies operating in market emphasize mainly on expanding their global footprints in an attempt to increase market shares and drive their revenues.
They are expanding formation facilities in various regions such as North America, Asia Pacific, and Europe owing to the easy availability of raw material and close proximity to raw material suppliers. For instance, In June 2023, Sulzer entered into a partnership agreement with Jindan New Biomaterials (Jindan), a prominent producer of lactic acid (LA), to facilitate the manufacturing of polylactic acid (PLA), a biobased plastic. Jindan company will leverage Sulzer's licensed PLA technology at its newly established facility in Henan Province, enabling the formation of up to 75,000 tonnes of PLA annually.
Order a free sample PDF of the Lactic Acid Market Intelligence Study, published by Grand View Research.
English
Arabic
Français
Español
Português
Türkçe
Dutch
Italiano
Russian
Romaian