Lactic Acid Market Outlook, End Users Analysis and Share by Type to 2030

Posted on 2023-01-06 by researchinsights in Chemicals // 0 Comments

San Francisco, California , USA, Jan 06, 2023 — /EPR Network/ —

Lactic Acid Industry Overview

The global lactic acid market size was valued at USD 2.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.0% from 2022 to 2030.

The usage of lactic acid in various end-use industries, including pharmaceuticals and food and beverages, majorly in emerging economies, such as India, China, and Indonesia, is anticipated to drive the demand for this product over the forecast period. Lactic acid is majorly used in the production of PLA, which is a biodegradable polymer and a compostable thermoplastic made from renewable sources, such as lactic acid, produced via fermentation processes. This chemical is Generally Recognized as Safe (GRAS) and has great market potential in the food industry as it is being recognized as harmless by the United States Food and Drug Administration. It can be alternatively produced by chemical synthesis or fermentation.

Gather more insights about the market drivers, restrains and growth of the Global Lactic Acid Market

During the global COVID-19 pandemic, polylactic acid (PLA) was widely used in creating microwaveable containers, such as food containers and disposable cutlery. Aesthetic appeal, excellent printability, resistance to grease and oil, and other benefits of packed containers favorably influenced the expanding incorporation of PLA in the formation of food packaging items internationally. Plastic has become increasingly preferred over older packaging solutions. During the pandemic, food and beverage packaging were in great demand. Due to well-being and sanitation concerns, people bought packaged food goods. As a result, these reasons have contributed to the expansion of the market for lactic acid.

Lactic acid is considered to be one of the well-known organic acids having a wide range of industrial applications. This product finds main applications in the food, chemical, pharmaceutical, and cosmetics industries. This product is a lactic acid bacterium, which refers to a large group of beneficial bacteria having probiotic properties. Additionally, this acid plays a crucial role in the preparation of wine and fermented dairy products, pickling of vegetables, and curing fish, meat, and sausages.

Lactic acid is not only a significant ingredient in fermented foods, including canned vegetables, yogurt, and butter, but is also used as a preservative and acidulant in pickled vegetables and olives. This naturally occurring organic acid is used in a variety of applications, including food and beverages, pharmaceuticals, cosmetics, chemicals, and industrial. This product is one of the organic acids produced on a large scale. The most commonly used feedstock is carbohydrates obtained from different sources, such as sugarcane and corn starch. As compared to mineral acids, organic acids such as formic acid and lactic acid do not completely dissociate in water.

Browse through Grand View Research’s Specialty Polymers Industry Research Reports.

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Lactic Acid Market Segmentation

Grand View Research has segmented the global lactic acid market on the basis of raw material, application, and region:

Lactic Acid Raw Material Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2030)
- Corn
- Sugarcane
- Cassava
- Other Crops
Lactic Acid Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2030)
- Industrial
- Food & Beverages
- Pharmaceuticals
- Personal Care
- Polylactic Acid (PLA)
- Others
Lactic Acid Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 – 2030)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Lactic Acid market include

BASF SE
Galactic
Musashino Chemical (China) Co., Ltd.
Futerro
Corbion
Dow
TEIJIN LIMITED

Order a free sample PDF of the Lactic Acid Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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