Global Lactic Acid Market

Lactic acid is an organic compound with the formula CH3CH(OH)CO2H. In its solid state, it is white and water-soluble. In its liquid state, it is clear. It is produced both naturally and synthetically. With a hydroxyl group adjacent to the carboxyl group, lactic acid is classified as an alpha-hydroxy acid (AHA). In the form of its conjugate base called lactate, it plays a role in several biochemical processes. According to Gen Consulting Company, the global lactic acid market size is expected to increase from USD 967 million in 2021 to USD 1,307 million by 2028, garnering a CAGR of 4.4% over the evaluated period.

This industry report offers market estimates of the global market, followed by a detailed analysis of the product, application, and region. The global market data on lactic acid can be segmented by product: L-lactic acid, D-lactic acid, DL-lactic acid. Lactic acid market is further segmented by application: agrochemicals, animal feed, food & beverages, industrial, personal care, pharmaceuticals, ploylactic acid, others. Based on region, the lactic acid market is segmented into: North America, Asia Pacific, Europe, Rest of the World (ROW).

The data-centric report focuses on market trends, status and outlook for segments. With comprehensive market assessment across the major geographies, the report is a valuable asset for the existing players, new entrants and the future investors.

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Global Lactic Acid Market

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Global Lactic Acid Market - Report Scope
REPORT ATTRIBUTE

DETAILS

Base Year

2021

Forecast Year

2022-2028

CAGR (2022-2028)

4.4%

Pages

21

Key Players

Cargill Incorporated (NatureWorks LLC), COFCO Biotechnology Co. Ltd., Corbion N.V., Galactic s.a., Henan Jindan Lactic Acid Technology, Jungbunzlauer Suisse AG, Musashino Chemical Laboratory Ltd., Shandong Baisheng Biotechnology Co. Ltd., Wuhan Sanjiang Space Good Biotech Co. Ltd.

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