Lactic Acid Market Analysis by Data Bridge Market Research - $500



Market Analysis and Size
Global Lactic Acid Market was valued at USD 1.98 billion in 2021 and is expected to reach USD 4.55 billion by 2029, registering a CAGR of 10.90% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Report Scope and Market Segmentation
Forecast Period 2022 to 2029
Base Year 2021
Historic Years 2020 (Customizable to 2014 - 2019)
Quantitative Units Revenue in USD Billion, Volumes in Units, Pricing in USD
Segments Covered By Raw Material (Corn, Sugarcane, Cassava, Other Crops), Application (Industrial, Food and Beverages, Pharmaceutical, Personal Care, Polyactic Acid, lactic Acid, Others), Source (Natural, Synthetic), End-User (Packaging, Textile, Electronics, Automotive, Biomedical, Other)
Countries Covered U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
Market Players Covered Corbion (Netherlands), DuPont (U.S.), Vaishnavi Bio Tech International Limited (India), GODAVARI BIOREFINERIES LTD. (India), Cargill Incorporated (U.S.), DOW (U.S.), Unitika Ltd., (Japan), Henan Jindan Lacic Acid Technology Co. Ltd., (China), Sulzer Ltd., (Switzerland), Musashino Chemical Laboratory, Ltd. (Japan), Vigon International LLC (U.S.), Henan Xinghan Biology Technology Co. Ltd., (China), Danimer Scientific (U.S.), COFCO (China), Jungbunzlauer Suisse AG (Switzerland), FoodChem International Corporation(China), Spectrum Chemicals (U.S.), ProAgro GmbH (Austria), and QINGDAO ABEL TECHNOLOGY CO.,LTD (U.S.)
Market Opportunities • Rise in demand for alternative environment-friendly resources
• Growing research and development activities

Market Definition
Lactic acid refers to an acid generally found in sour milk and is also produced in the muscle tissue when a person exercises. The acid is colorless or yellowish in color and is also prepared by fermentation of potatoes, molasses, and cornstarch. They can be processed synthetically and naturally and widely used in applications such as personal care, polyactic acid, food and beverages, and personal care.
COVID-19 Impact on Lactic acid Market
The recent outbreak of coronavirus had a huge impact on the lactic acid market. The COVID-19 lockdown has considerably curtailed manufacturing and production operations as a result of country-by-country shutdowns of manufacturing facilities, workforce shortages, and a decline in the global supply and demand chain, all of which have influenced the market. According to studies, the breakout of COVID-19 resulted in a substantial drop in raw material output in 2020 due to a lack of operations in many locations throughout the world. The COVID-19 epidemic, on the other hand, has increased global demand for packaged foods. According to recent research from Flexible Packaging, the food packaging business saw a substantial spike in demand during the pandemic as a result of a large number of consumers shopping for groceries online.
Global Lactic Acid Market Scope
The lactic acid market is segmented on the basis of type, form and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Raw Material
• Corn
• Sugarcane
• Cassava
• Other Crops
• Industrial
• Food and Beverages
• Pharmaceutical
• Personal Care
• Polyactic Acid
• Lactic Acid
• Others
• Natural
• Synthetic
• Packaging
• Textile
• Electronics
• Automotive
• Biomedical
• Other
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Lactic Acid Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:
• Increased Applications of Lactic Acid
One of the primary factors driving the growth of the lactic acid market is the rising demand in food applications around the world. The popularity of well-known organic acids with a wide range of industrial applications and increased use of the acid in the creation of PLA, a biodegradable polymer and compostable thermoplastic, are driving market expansion. The market is influenced by its widespread use in the food, chemical, pharmaceutical, and cosmetics industries and technological improvements that drive the manufacturing of lactic acid and polylactic acid.

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