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At a CAGR of 9.91% between 2023 and 2030, the lactic acid market is expected to expand from its 2022 valuation of USD 3.5 billion to a peak of USD 6.14 billion.
Since lactic acid has become increasingly prevalent It can be used in a wide range of industrial contexts. Lactic acid's many benefits include its low cost, low risk of side effects, adaptability, and versatility. Due to its biodegradability and compostability, lactic acid is a material that benefits the environment and is preferable to petroleum-based polymers. Lactic acid's ability to break down plastics is a major factor in cleaning up the environment. In addition to its use in the manufacturing of biodegradable and sustainable products like food packaging and disposable tableware and even medical implants, lactic acid also has applications in the creation of non-food items. It is a desirable material for use in a wide range of healthcare and pharmaceutical settings due to its biocompatibility and degradability via natural processes. Its adaptability and usefulness in a variety of contexts make it a desirable and competitive material. It has the potential to replace existing petroleum-based plastics, which contribute to environmental damage, and is therefore an important application in the creation of biodegradable plastics. Lactic acid is widely employed in numerous industries, including those dealing with plastics, medicine, cosmetics, and food. Its antibacterial qualities mean it has potential as a food preservative. In the cosmetics sector, it is used as an exfoliant and pH regulator, while in the pharmaceutical industry, it is made into medical implants and drug delivery systems.
The global lactic acid market is broken down into submarkets defined by end-use, manufacturing method, application, and geography. Food and beverage, pharmaceutical, personal care product, biodegradable polymers, and other applications make up different subsets of the lactic acid market. The lactic acid market is broken down into natural, synthetic, and other types based on the origin of the acid. The lactic acid market is broken down into submarkets based on its intended use, such as acidulants, preservatives, taste enhancers, pH adjusters, and others. The market is broken down into different sections based on geography, which include the Americas, Europe, Asia-Pacific, the MEA, and Latin America.
Market Segmentation of Lactic Acid Based on End-Use
One of the most lucrative uses for lactic acid is in biodegradable plastics. Biodegradable packaging, disposable cutlery, and other plastic goods are all part of this industry. It is anticipated that this sector would continue to lead the market during the foreseen time frame. The fastest-growing end-use market for lactic acid is the personal care and cosmetics industry. Lactic acid is being used in cosmetics for the skin, hair, and nails. The growing interest in using all-natural and organic components in cosmetics, as well as lactic acid's many advantages for the skin and hair, are driving growth in this market.
Factors Influencing the Lactic Acid Industry
Market expansion will be aided by the rising popularity of biodegradable plastics.
As people become more conscious of the environmental impacts of plastics, they are demanding more eco-friendly options to replace those made from petroleum. The market for biodegradable plastics has expanded thanks to this need, and lactic acid has emerged as a competitive alternative. Lactic acid is a biodegradable substance that helps solve the problems of plastic waste and pollution. It breaks down harmlessly in the environment through natural processes. In comparison to petroleum-based plastics, which don't break down in the environment and can last for centuries, this is a much more eco-friendly option.
Market Constraints on Lactic Acid
The High Cost of Production will Slow Market Expansion.
Lactic acid is more expensive than conventional petroleum-based products due to its complex manufacturing method, which involves microbial fermentation. Therefore, lactic acid-based products may have less commercial potential due to their higher price.
Main Tendencies in the Market
More eco-friendly and cost-effective methods of producing lactic acid are currently being developed. This is being prompted by efforts to lessen the negative effects of manufacturing on the environment without compromising on production costs or output levels. Renewable energy sources, better waste management methods, and more efficient production machinery are just some of the technological advancements included into these new processes. These new production methods allow factories to streamline their processes and cut down on waste, both of which are beneficial to the bottom line.
Report Coverage
Global Lactic Acid research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Lactic Acid report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Lactic Acid competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Lactic Acid market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Lactic Acid market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Lactic Acid market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Corbion NV, BASF SE, Galactic SA, DowDuPont Inc., NatureWorks LLC, Futerro SA, Teijin Limited, Musashino Chemical Laboratory Ltd., Henan Jindan Lactic Acid Technology Co., Ltd., Weifang Ensign Industry Co., Ltd., Musashino Chemical (China) Co. Ltd., Anhui COFCO Biochemical Co., Ltd., Synbra Technology BV, Spectrum Chemical Manufacturing Corp., Danimer Scientific Inc., TCI Chemicals (India) Pvt. Ltd., Jungbunzlauer Suisse AG, Shenzhen Esun Industrial Co., Ltd., Zhengzhou Tianxingjian Chemical Co., Ltd., Yancheng Hongtai Bioengineering Co., Ltd.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Lactic Acid market based on the below-mentioned segments:
Global Lactic Acid Market, By Source
Natural
synthetic
others
Global Lactic Acid market, By Application
Food and beverages
Pharmaceuticals
Personal care products
biodegradable plastics
others
Global Lactic Acid Market, By Function
Acidulants
preservatives
flavor enhancer
PH adjuster
others
Global Lactic Acid market, Regional Analysis
Since lactic acid has become increasingly prevalent It can be used in a wide range of industrial contexts. Lactic acid's many benefits include its low cost, low risk of side effects, adaptability, and versatility. Due to its biodegradability and compostability, lactic acid is a material that benefits the environment and is preferable to petroleum-based polymers. Lactic acid's ability to break down plastics is a major factor in cleaning up the environment. In addition to its use in the manufacturing of biodegradable and sustainable products like food packaging and disposable tableware and even medical implants, lactic acid also has applications in the creation of non-food items. It is a desirable material for use in a wide range of healthcare and pharmaceutical settings due to its biocompatibility and degradability via natural processes. Its adaptability and usefulness in a variety of contexts make it a desirable and competitive material. It has the potential to replace existing petroleum-based plastics, which contribute to environmental damage, and is therefore an important application in the creation of biodegradable plastics. Lactic acid is widely employed in numerous industries, including those dealing with plastics, medicine, cosmetics, and food. Its antibacterial qualities mean it has potential as a food preservative. In the cosmetics sector, it is used as an exfoliant and pH regulator, while in the pharmaceutical industry, it is made into medical implants and drug delivery systems.
The global lactic acid market is broken down into submarkets defined by end-use, manufacturing method, application, and geography. Food and beverage, pharmaceutical, personal care product, biodegradable polymers, and other applications make up different subsets of the lactic acid market. The lactic acid market is broken down into natural, synthetic, and other types based on the origin of the acid. The lactic acid market is broken down into submarkets based on its intended use, such as acidulants, preservatives, taste enhancers, pH adjusters, and others. The market is broken down into different sections based on geography, which include the Americas, Europe, Asia-Pacific, the MEA, and Latin America.
Market Segmentation of Lactic Acid Based on End-Use
One of the most lucrative uses for lactic acid is in biodegradable plastics. Biodegradable packaging, disposable cutlery, and other plastic goods are all part of this industry. It is anticipated that this sector would continue to lead the market during the foreseen time frame. The fastest-growing end-use market for lactic acid is the personal care and cosmetics industry. Lactic acid is being used in cosmetics for the skin, hair, and nails. The growing interest in using all-natural and organic components in cosmetics, as well as lactic acid's many advantages for the skin and hair, are driving growth in this market.
Factors Influencing the Lactic Acid Industry
Market expansion will be aided by the rising popularity of biodegradable plastics.
As people become more conscious of the environmental impacts of plastics, they are demanding more eco-friendly options to replace those made from petroleum. The market for biodegradable plastics has expanded thanks to this need, and lactic acid has emerged as a competitive alternative. Lactic acid is a biodegradable substance that helps solve the problems of plastic waste and pollution. It breaks down harmlessly in the environment through natural processes. In comparison to petroleum-based plastics, which don't break down in the environment and can last for centuries, this is a much more eco-friendly option.
Market Constraints on Lactic Acid
The High Cost of Production will Slow Market Expansion.
Lactic acid is more expensive than conventional petroleum-based products due to its complex manufacturing method, which involves microbial fermentation. Therefore, lactic acid-based products may have less commercial potential due to their higher price.
Main Tendencies in the Market
More eco-friendly and cost-effective methods of producing lactic acid are currently being developed. This is being prompted by efforts to lessen the negative effects of manufacturing on the environment without compromising on production costs or output levels. Renewable energy sources, better waste management methods, and more efficient production machinery are just some of the technological advancements included into these new processes. These new production methods allow factories to streamline their processes and cut down on waste, both of which are beneficial to the bottom line.
Report Coverage
Global Lactic Acid research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Lactic Acid report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Lactic Acid competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Lactic Acid market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Corbion NV, BASF SE, Galactic SA, DowDuPont Inc., NatureWorks LLC, Futerro SA, Teijin Limited, Musashino Chemical Laboratory Ltd., Henan Jindan Lactic Acid Technology Co., Ltd., Weifang Ensign Industry Co., Ltd., Musashino Chemical (China) Co. Ltd., Anhui COFCO Biochemical Co., Ltd., Synbra Technology BV, Spectrum Chemical Manufacturing Corp., Danimer Scientific Inc., TCI Chemicals (India) Pvt. Ltd., Jungbunzlauer Suisse AG, Shenzhen Esun Industrial Co., Ltd., Zhengzhou Tianxingjian Chemical Co., Ltd., Yancheng Hongtai Bioengineering Co., Ltd. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Lactic Acid Market from 2021 to 2030.
- Market Forecast for Lactic Acid Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Lactic Acid competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Lactic Acid
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Lactic Acid market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Lactic Acid market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Corbion NV, BASF SE, Galactic SA, DowDuPont Inc., NatureWorks LLC, Futerro SA, Teijin Limited, Musashino Chemical Laboratory Ltd., Henan Jindan Lactic Acid Technology Co., Ltd., Weifang Ensign Industry Co., Ltd., Musashino Chemical (China) Co. Ltd., Anhui COFCO Biochemical Co., Ltd., Synbra Technology BV, Spectrum Chemical Manufacturing Corp., Danimer Scientific Inc., TCI Chemicals (India) Pvt. Ltd., Jungbunzlauer Suisse AG, Shenzhen Esun Industrial Co., Ltd., Zhengzhou Tianxingjian Chemical Co., Ltd., Yancheng Hongtai Bioengineering Co., Ltd.
Primary Target Market
- Market Players of Lactic Acid
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Lactic Acid market based on the below-mentioned segments:
Global Lactic Acid Market, By Source
Natural
synthetic
others
Global Lactic Acid market, By Application
Food and beverages
Pharmaceuticals
Personal care products
biodegradable plastics
others
Global Lactic Acid Market, By Function
Acidulants
preservatives
flavor enhancer
PH adjuster
others
Global Lactic Acid market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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