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Lactic Acid Market to Witness Growth of over 12.5% by 2024 | Key Players Danimer Scientific, The Dow Chemical Company, Musashino Chemical, - ASF, Galactic, BASF, Henan Jindan Lactic Acid Technology Co., Ltd, Futerro

Lactic Acid Market

Lactic Acid Market

Lactic acid market size from food & beverages applications should register over USD 1.5 billion in sales by 2024. Strong application outlook in industrial and food & beverage industry should drive lactic acid market size. They are used as a preservative, pH regulator and acidulant for food & beverage applications which include bakery, dairy, meat products, confectionary, beer & wine and pickles.

FDA has granted lactic acid GRAS status which should boost the product market demand. It is also used in manufacturing PLA, which is a biodegradable polymer and has vast consumption volume

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Positive indicator towards bioplastics usage due to environmental concern should drive PLA market size. Strong application scope automobiles, food & beverage packaging, agriculture and consumer goods packaging should drive industry growth.

PLA market price trend commands premium pricing with respect to traditional polymers including PP and polystyrene. Tapoica, sugarcane, and corn are used for manufacturing process. These raw materials costs may fluctuate and affect lactic acid price trend.

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Japan lactic acid market size from personal care applications is set to exceed USD 30 million. It is used as anti aging, anti wrinkle, and skin lightening products. Rising consumer awareness towards personal care & cosmetics product formulation should drive regional industry growth.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• ASF
• Galactic
• BASF
• Danimer Scientific
• The Dow Chemical Company
• Musashino Chemical
• Henan Jindan Lactic Acid Technology Co., Ltd
• Futerro

U.S. PLA market size from agriculture applications should witness over 16% gains. They are used to raise soil temperature, control soil compaction, and enhance moisture control. Lactic acid market size from pharmaceutical applications may witness significant gains. It is used to exhibit anti-tumor activity and treat dry skin problems.

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/lactic-acid-and-polylactic-acid-market

Europe lactic acid market size from industrial applications may witness above 15.5% gains. These products are used in applications which include textile goods & silk dyeing, leather plumping and woolen printings.

Global PLA market share is highly consolidated with top players occupying a larger chunk of the industry demand in 2015. Purac and NatureWorks Danimer Scientific, BASF, Futerro, Synbra Technology, Galactic and Musashino Chemical are some of the industry participants.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Corporate Sales, USA
Global Market Insights, Inc.
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