Market Overview:

The global lactic acid market is expected to exhibit a CAGR of 10.07% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Lactic acid (C₃H₆O₃) refers to a type of organic acid that is mainly produced in muscle cells and red blood cells. It aids in cell respiration, molecule signaling, and glucose production. In the food and beverage sector, lactic acid helps to control the development of pathogenic microorganisms, improve flavor, and extend the shelf life of food products. As a result, it is widely utilized in the preparation of wine and fermented dairy products, curing meat and fish, pickling vegetables, etc. Furthermore, lactic acid is also used as an emollient in various cosmetic items and as an additive in pharmaceutical products for its antibacterial properties.

Lactic Acid Market Trends:

The rising consumption of processed and ready-to-eat food products wherein lactic acid is utilized as one of the significant additives to enhance product shelf life is primarily driving the global lactic acid market. Lactic acid also acts as a flavoring agent and pH regulator in several bakery items, beverages, confectionery, meat products, etc. Additionally, the escalating demand for lactic acid and its derivatives in the pharmaceutical industry for manufacturing active pharmaceutical ingredients (APIs) that are used in drugs, IV solutions, liquid supplements, etc., is further augmenting the market growth. Apart from this, the increasing utilization of lactic acid in the production of PLA, which is a biodegradable polymer and a compostable thermoplastic, is acting as another growth-inducing factor. PLA is widely adopted for food packaging applications based on its aesthetic appeal, superior printability, and resilience to grease and oil. Additionally, the growing use of lactic acid in cosmetic and personal care products as an exfoliator, humectant, adjuster, and skin conditioning ingredient is also catalyzing the market growth across the globe. Besides this, lactic acid is gaining popularity as an essential precursor for various chemicals such as esters, bio solvents, pyruvic acid, and acrylic acid, which is further creating a positive outlook for the market. Numerous other factors, including the launch of several government initiatives to encourage the use of bioplastics and expanding applications of lactic and polylactic acids in the packaging and biomedical industries, are expected to fuel the global lactic acid market over the forecasted period.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global lactic acid market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on raw material, form and application.

Breakup by Raw Material:

• Corn
• Sugarcane
• Cassava
• Others
   

Breakup by Form:

• Liquid
• Solid
   

Breakup by Application:

• Industrial
• Food and Beverages
• Pharmaceuticals
• Personal Care
• Polylactic Acid (PLA)
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Cellulac plc, Corbion N.V., Dupont De Nemours Inc., Foodchem International Corporation, Galactic, Godavari Biorefineries Ltd. (Somaiya Group)., Henan Jindan Lactic Acid Technology Co. Ltd., Jungbunzlauer Suisse AG, Musashino Chemical Laboratory Ltd., Spectrum Chemical Mfg. Corp., Vaishnavi Bio Tech International Limited and Vigon International Inc. (Azelis Americas LLC).

Report Coverage: