Global Lactic Acid Market Analysis, 2024-2030

Lactic acid is a substance that is produced via fermentation of carbose sugars such as glucose, lactose, sucrose, and fructose. It can also be produced via chemical synthesis. Lactic acid is also produced in our body whenever an anaerobic process takes place. Example: When we run for a long period of time, when there is a lack of oxygen supply, lactic acid is produced in our body. It is also known as milk acid.

The lactic acid compound has wide utility in today’s real world. The substance is used as a food preservative in the food and beverage industry. It is also used as a curing agent and a flavoring agent widely in the real-world markets. Water soluble lactates and other insoluble compounds are produced via lactic acid. This serves a major application in the pharmaceutical industry. It is also used in the cosmetic sector as well.

The global lactic acid market reports reveal the inside information of the current market conditions. The Lactic acid Market is rapidly increasing its radius of influence across various national boundaries as per the research report. This global market for the lactic acid is valued at US $ xxx million dollars in 2018 which is anticipated to reach a striking US $ xxx million dollars by the end of 2023 growing at a CAGR of xx%

The major factors that contribute to the growth of the lactic acid market include its wide range of applications. The substance is used in all major sectors. The pharmaceutical sector requires the compound in bulk to produced essential lactates. While, the food industry requires it as a food preservative. Some high-quality sour style beers are also produced via lactic acid. Hence, it plays a major role in winemaking and other alcohol manufacturing industries.

Many factors contribute to the growth of the lactic acid market and there are no impediments to the growth of the market. However, sometimes the fermentation and production of lactic acid could be a hectic process which might deter new manufacturers from entering the market.

The lactic acid market is deeply concentrated in regions such as North America, Europe, the Asia Pacific, the Middle East and Africa, and other parts of the world. The lactic acid market is expected to grow rapidly in North America due to advancement in technology and urbanization. The growth is expected to be followed by other countries.

The key market players in the lactic acid market include BASF SE, Synbra Technology B.V, CSM N.V, Purac, Cargill and the Dow Chemical Company. Other crucial market players include NatureWorks LLC, Lactic Acid Technology Co, Corbion N.V, and Teijin Limited.

Our Approach

The research procedure involves the market segmentation of the global lactic acid, identification of the growth elements influencing every segment and then conducting market forecast. The market forecasts are held by taking inputs from the market leaders from across the global lactic acid industry value chain. Market Krystal held over 33 interviews dedicated for this study, all of which are mentioned below:

By company type:

Manufacturers (45%), Suppliers (25%), Consumers (20%), Researchers (5%), Independent industry consultant (5%)

By geography:

North America (40%), Asia (30%), Europe (30%)

By designation:

Top level (40%), Operation level (35%), Mid-level (25%)

Contents of the report:

• Insights on the global lactic acid industry dynamics
• Estimation of the current global lactic acid market size in terms of value and volume.
• Global lactic acid market breakup based on application (food & beverage, biodegradable polymer, pharmaceutical, personal care) and geography (North America, Europe, Asia-Pacific, Middle East, Africa & Latin America)
• Substantiated global lactic acid market forecast for the next five years
• In detail analysis of the key companies working across different nodes of global lactic acid industry value chain