Global Lactic Acid Market Size and Growth by 2033

نشر بتاريخ 2024-12-18 07:36:55

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Global Lactic Acid Market Size and Growth

Straits Research is pleased to announce the release of its latest report on the global Lactic Acid Market. The market size was valued at USD 3.37 billion in 2024 and is projected to grow from USD 3.63 billion in 2025 to USD 6.58 billion by 2033, at a compound annual growth rate (CAGR) of 7.7% during the forecast period (2025–2033). This growth is driven by increasing demand across various industries, including food and beverages, personal care, pharmaceuticals, and biodegradable plastics.

Drivers in the Lactic Acid Market

The primary drivers of the lactic acid market include the rising consumer preference for natural and organic products, the growing use of lactic acid in biodegradable plastics, and the increasing application of lactic acid in the food and beverage industry as a preservative and flavoring agent. Additionally, the pharmaceutical and personal care industries are adopting lactic acid for its antimicrobial and exfoliating properties, further boosting market growth.

Key Developments in the Lactic Acid Market

Recent developments in the lactic acid market highlight advancements in production technologies and strategic partnerships. Companies are investing in research and development to enhance the efficiency of lactic acid production from renewable resources. Collaborations between key players and research institutions are fostering innovation, leading to the development of high-purity lactic acid suitable for various applications.

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Top Key Players

The lactic acid market is highly competitive, with several key players driving innovation and growth. The top companies in the market include:

BASF SE
Cargill
COFCO Biochemical
Corbion
Danimer Scientific
DOW
DuPont
Futerro
FoodChem International
Galactic
Godavari Bio-refineries
Henan Jindan Lactic Acid Technology
Jungbunzlauer
Musashino Chemical
ProAgro GmbH
Qingdao Abel Technology
Spectrum Chemicals
Sulzer
TEIJIN LIMITED
Unitika
Vaishnavi Biotech
Vigon International

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Segmentation Analysis of the Lactic Acid Market

The report provides a detailed segmentation analysis of the lactic acid market based on raw material, applications, and end-user industries.

By Raw Material:
1. Corn
2. Sugarcane
3. Cassava
4. Other Crops
By Applications:
1. Food and Beverages
2. Personal Care
3. Pharmaceuticals
4. Polylactic Acid (PLA)
By End-User:
1. Packaging
2. Textile
3. Agriculture
4. Electronics
5. Automotive
6. Biomedical
7. Others

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Company Details

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