Lactic Acid Market Is Expected To Reach $2,820.11 Million by 2032

Zion Market Research has published a new report titled “Lactic Acid Market by Source (Natural and Synthetic) and by End-User (Personal Care, Chemical, Pharmaceutical, Food and Beverage, and Others), And By Region: Global Research Analysis, Latest Industry Insights, Comprehensive Analysis And Forecast 2024-2032”.

According to the report, the global lactic acid market was valued at approximately USD 1358.94 Million in 2023 and is predicted to gain revenue of about USD 2,820.11 Million by 2032, is set to record a CAGR of nearly 8.45% over the period from 2024 to 2032.

Browse the full “Lactic Acid Market by Source (Natural and Synthetic) and by End-User (Personal Care, Chemical, Pharmaceutical, Food and Beverage, and Others), And By Region: Global Research Analysis, Latest Industry Insights, Comprehensive Analysis And Forecast 2024-2032

” Report at https://www.zionmarketresearch.com/report/lactic-acid-market

Lactic acid is an organic chemical compound that is white in color in its solid state and soluble in water. Lactic acid in its liquid state is completely colorless. It can be produced both naturally and synthetically and is classified as an alpha-hydroxy acid (AHA) and plays a crucial role in several biochemical processes.

The global lactic acid market is likely to be driven by growing product usage in the end-user industries, such as food, chemical, cosmetics, and pharmaceuticals, in the years ahead. The high product demand in the food industry as a preservative and antimicrobial agent is the primary growth driver anticipated to stimulate the growth of the lactic acid market globally. Lactic acid prevents the growth of bacteria and other micro-organisms and helps in increasing the shelf life of food items. The increasing manufacturing of lactate ester is likely to positively impact the global lactic acid market in the future.

The global lactic acid is segmented on the basis of source and end-user. By source, the lactic acid market is bifurcated into natural and synthetic. Natural lactic acid is expected to dominate this global market in the future, due to the easy availability of raw materials, such as sugarcane, molasses, and starch. On the basis of end-user, this global market is categorized into personal care, cosmetics, pharmaceutical, chemical, and food and beverage. The food and beverage segment is expected to dominate this global market in the future, due to the growing acceptance of lactic acid as a preservative and anti-microbial agent.

By region, North America held an extensive revenue share in the global lactic acid market in 2018 and is expected to dominate in the upcoming years. The growth of this regional market can be attributed to the rising demand for polylactic acid in the chemical industry. Lactic acid is utilized as a monomer for the production of polylactic acid, which is anticipated to further boost this regional market in the future.

Europe is projected to provide significant opportunities in the global lactic acid market over the estimated timeframe, owing to the increasing sales of pharmaceutical medicines due to the rising health consciousness of the regional population. Moreover, the functional properties of lactic acid and favorable government policies regarding the production of lactic acid are likely to positively impact the European lactic acid market over the forecast time period.

Global Lactic Acid Market: Competitive Players

Some of the most important market players in the global lactic acid market are

• BASF SE
• CSM N.V
• The Dow Chemical Company
• Teijin Ltd
• NatureWorks LLC
• Corbion Purac
• Jungbunzlauer AG
• Musashino Chemical Laboratory, Ltd
• Galactic S.A.
• Henan Jindan Lactic Acid Co., Ltd

This report segments the global lactic acid market into:

Global Lactic Acid Market: Source Analysis

• Natural
• Synthetic

Global Lactic Acid Market: End-User Analysis

• Personal Care
• Chemical
• Pharmaceutical
• Food and Beverage
• Others

Global Lactic Acid Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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