Press release
Lactic Acid Market to reach USD 4.8 Bn by 2029, emerging at a CAGR of 8.23 percent and forecast 2023-2029
Lactic Acid Market
Lactic acid, known chemically as 2-Hydroxypropanoic acid (CH3CHCOOH), is a versatile organic acid produced through fermentation. Its applications range from food preservation and acidification to the manufacturing of various chemicals. Lactic acid also serves as a key feedstock for the production of biodegradable plastics, particularly poly-lactic acid (PLA), contributing to a more sustainable future.
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Lactic Acid Market Dynamics:
The Lactic Acid Market is on an upward trajectory due to its increasing adoption in various sectors, including industrial, personal care, commercial, and household. In the food industry, lactic acid plays vital roles as a preservative, flavor enhancer, pH regulator, and pathogen control agent. The demand for personal care products, featuring advanced formulations and consumer-specific solutions, is expected to open new growth opportunities.
Lactic Acid Market Regional Insights:
North America: Accounting for 43% of the market share in 2022, North America is set to grow at a CAGR of 8%. The region's growth is driven by the increasing demand for poly-lactic acid, efforts to reduce the carbon footprint, and expansion in pharmaceutical and personal care industries.
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Lactic Acid Market Segmentation:
by Raw Material
Corn
Sugar
Cassava
Other Crops
by Application
Industrial
Food and Beverage
Pharmaceuticals
Personal Care
Others
Lactic Acid Market Key Players:
1. BASF
2. Galactic
3. Nature Works
4. Corbion Purac
5. Pyramid Bioplastics
6. Danimer Scientific
7. Dow Chemical
8. Synbra
9. Henan Jindan Lactic Acid Technology
10.Musashino Chemical
11.Futerro
12.Teijin
13.Wei Mon Industry
14.Thyssenkrupp AG
15.Vaishnavi Bio-Tech Ltd.
16.ADM
17.Cargill
18.Cellulac
19.Corbion
20.NingXia Hypow Bio-Technology
21.PURAC
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Table of content for the Lactic Acid Market includes:
Global Lactic Acid Market: Research Methodology
Global Lactic Acid Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
Global Lactic Acid Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Key Offerings:
Past Market Size and Competitive Landscape
Past Pricing and price curve by region
Market Size, Share, Size and Forecast by different segment | 2023-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by growth and trend
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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Lactic acid has a systematic name that is 2hydroxypropionic acid, which is widely existed in nature. Lactic acid is formed when glucose is broken down for energy in the absence of sufficient oxygen.
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Lactic acid (2-hydroxy propanoic acid) is a colorless or some time yellowish, odorless and hygroscopic, sugary and thick chemical liquid. It is generally soluble with other liquids such as water and ethanol. It is found in abundance in nature. It is the most important acid ingredient of acerbic milk and a typical component of animals’ blood and muscle tissue.
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Lactic acid are widely used in refined…
