Lactic Acid Market

Market Overview:

The global lactic acid market size is projected to exhibit a growth rate (CAGR) of 8.48% during 2024-2032.

Lactic acid (C₃H₆O₃) refers to a colorless, water-soluble organic compound naturally produced in muscles and red blood cells. It is commercially derived from various raw materials, such as cornstarch, sugarcane, molasses, whey, cassava, and lignocellulosic biomass. Lactic acid is widely used in food products, beverages, pharmaceuticals, biodegradable plastics, textiles, detergents, and personal care products. It aids in controlling pH levels, improving shelf life, and enhancing the texture, flavor, and stability of products. In addition, lactic acid is a biodegradable and eco-friendly substance, which aids in reducing adverse environmental impacts and promoting sustainability.

The rising product utilization in the pharmaceutical industry to produce biodegradable implants, tissue engineering scaffolds, and advanced drug delivery systems, such as hydrogels and nanoparticles, is providing an impetus to the market growth. Along with this, the increasing product adoption as an excipient in drug formulations to enhance solubility and maintain pH levels is acting as another growth-inducing factor. Furthermore, the growing product applications in the textile industry to augment fiber properties, improve dyeing and printing operations, prevent microbial growth, and remove impurities and contaminants from textile wastewater are supporting the market growth. Moreover, the widespread product adoption in the agriculture industry as a biostimulant, soil conditioner, and plant growth promoter is contributing to the market growth. Besides this, the increasing product utilization in animal feed as an acidifier and preservative to promote beneficial gut bacteria and enhance nutrient absorption is positively influencing the market growth. Other factors, including growing demand for environmentally friendly products, easy product availability across various online retail platforms, and emerging health and wellness trends among the masses, are anticipated to drive the market growth.

Lactic Acid Market Trends/Drivers:

The significant growth in the food and beverage (F&B) industry

Lactic acid finds numerous applications in the food and beverage (F&B) industry. It is widely used as a natural preservative to improve the shelf life of perishable goods and inhibit the growth of bacteria, yeasts, and molds. In addition, it is used in various fermented and cultured products, such as yogurt, cheese, sauerkraut, pickles, and sourdough bread, to enhance flavor, texture, and preservation. Apart from this, the increasing product utilization in soft drinks, fruit juices, energy drinks, and alcoholic beverages to add a tangy flavor and acidity is acting as another growth-inducing factor. Moreover, the growing product application in the bakery and confectionery sector to improve dough texture, extend shelf life, and enhance the flavor of baked goods is strengthening the market growth.

The rising product utilization in the cosmetics and personal care industry

Lactic acid is widely used as an exfoliating agent in skincare products to remove dead cells, unclog pores, promote skin renewal, enhance texture, reduce the appearance of wrinkles, and increase overall skin radiance. Furthermore, the widespread product utilization in cosmetic formulations as a pH adjuster and acidifier to enhance the efficacy, absorption, and effectiveness of certain ingredients is positively influencing the market growth. Additionally, the growing product adoption in moisturizers, serums, and masks to improve hydration levels, nourish the skin, and prevent dark spots and discoloration is favoring the market growth. Apart from this, lactic acid is widely used in anti-aging products to promote the synthesis of collagen, improve skin elasticity, and provide a youthful complexion.

Extensive research and development (R&D) activities 

The lactic acid market has witnessed several notable innovations aimed at improving its production rate and expanding its applications. The introduction of next-generation fermentation technologies, such as consolidated bioprocessing (CBP) and continuous fermentation, which simplifies the production process, reduces operation costs, and increases yield, is providing an impetus to the market growth. Additionally, the introduction of advanced purification techniques, such as membrane separation and chromatography, which allows the separation and purification of specific lactic acid isomers for targeted applications, is positively influencing the market growth. Moreover, the utilization of genetic engineering to modify lactic acid bacteria (LAB) to enhance their productivity and optimize metabolic pathways for lactic acid production is contributing to the market growth.

Lactic Acid Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global lactic acid market report, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on raw material, form, and application.

Breakup by Raw Material:

• Corn
• Sugarcane
• Cassava
• Others
   

Sugarcane dominates the lactic acid market

The report has provided a detailed breakup and analysis of the lactic acid market based on the raw material. This includes corn, sugarcane, cassava, and others. According to the report, sugarcane represented the largest market segment.

Sugarcane is dominating the lactic acid market due to its high productivity, abundance, and easy availability, which provides a reliable and consistent supply of raw materials for lactic acid manufacturers. In addition to this, sugarcane is rich in sucrose that can be easily converted into lactic acid through the fermentation process. Furthermore, sugarcane cultivation is well-established, which results in lower economies of scale and transportation costs for lactic acid manufacturers. Along with this, it provides a higher yield of lactic acid per unit of feedstock, which further brings down the cost for producers. Moreover, sugarcane is a sustainable and renewable raw material that aids in carbon sequestration and soil conservation.

Breakup by Form:

• Liquid
• Solid
   

The report has provided a detailed breakup and analysis of the lactic acid market based on the form. This includes liquid and solid.

The liquid form of lactic acid is widely preferred across industrial applications owing to its excellent compatibility with other liquid ingredients, which improves manufacturing efficiency and facilitates the production of a wide range of formulations across industries. In addition, it ensures better homogeneity and uniform dispersion of lactic acid, thus improving the consistency and quality of the final product. Moreover, it can be obtained in different concentrations, which allows manufacturers to tailor the lactic acid content according to their specific needs and applications.

The solid form of lactic acid offers better stability and shelf life, which aids in convenient storage, handling, and transportation. Furthermore, it can be measured, weighed, and dispensed accurately, thus enabling precise dosing in various manufacturing processes. Moreover, it is widely used in drug delivery systems, fertilizers, and antimicrobial coatings, due to its ability to provide a controlled release of lactic acid over time.

Breakup by Application:

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

Polylactic acid (PLA) represents the leading application segment.

The report has provided a detailed breakup and analysis of the lactic acid market based on the application. This includes industrial, food and beverages, pharmaceuticals, personal care, polylactic acid (PLA), and others. According to the report, polylactic acid (PLA) represented the largest market segment.

Polylactic acid (PLA) is a versatile, biodegradable, and renewable polymer derived from lactic acid. It is widely used to produce disposable products, such as plates, cups, cutlery, and food containers. In addition to this, PLA finds extensive applications in biodegradable packaging due to excellent clarity, barrier properties, and printability. Furthermore, the widespread product utilization in medical and healthcare applications, such as drug delivery systems, surgical sutures, orthopedic devices, and tissue engineering scaffolds owing to its excellent biocompatibility, is favoring the market growth. Additionally, the increasing product adoption in three-dimensional (3D) printing applications to produce prototypes, consumer products, and architectural models is providing an impetus to the market growth. Moreover, growing product demand for manufacturing electronic components, such as casings and connectors, due to its good mechanical strength and electrical insulation properties, is contributing to the market growth.

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
   

North America exhibits a clear dominance in the market, accounting for the largest lactic acid market share

The report has also provided a comprehensive analysis of all the major regional markets, which includes North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America represented the largest market segment.

North America represents the largest market for lactic acid due to the widespread availability of raw materials, such as corn and sugarcane, which aids in producing lactic acid at competitive prices. Furthermore, the growing demand for lactic acid and its derivatives in various industries, including food and beverages, pharmaceuticals, and personal care, is acting as another growth-inducing factor. Moreover, the rising awareness among the regional population towards sustainable and eco-friendly ingredients is facilitating the product demand, as it is derived from renewable agriculture-based feedstocks. Apart from this, the presence of a well-developed industrial infrastructure, including manufacturing facilities, distribution networks, and established supply chains, which aid in efficient production, transportation, and distribution of lactic acid across the region, is contributing to the market growth.

Competitive Landscape:

Several key players are heavily investing in product innovation to expand their portfolios, develop new lactic acid derivatives, and enter emerging markets. Moreover, the increasing numbers of strategic partnerships and collaborations between companies, research institutions, and industry partners to strengthen market presence, enhance product offerings, and accelerate innovations are positively influencing the market growth. Additionally, the rising emphasis on green initiatives has prompted several manufacturers to incorporate sustainable production processes, renewable feedstocks, and eco-friendly manufacturing techniques to reduce adverse environmental impacts, meet regulatory standards, and attract environmentally conscious customers. Apart from this, leading companies in the market are focusing on geographical expansion by establishing manufacturing facilities, distribution networks, and sales offices across the globe to serve local customers better and capture market share.

The report has provided a comprehensive analysis of the competitive landscape in the global lactic acid market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• 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
• Vigon International Inc. (Azelis Americas LLC)

Recent Developments:

• In May 2023, Corbion N.V. completed life cycle assessments (LCAs) for all products from its five lactic acid and derivatives production sites in Spain, United States, Brazil, Netherlands, and Thailand.
• In October 2020, Futerro, a subsidiary of Galactic, launched a fully integrated polylactic acid (PLA) plant in China. This plant will produce high-quality products at competitive costs using new patented technologies.
• In March 2021, Henan Jindan Lactic Acid Technology Co. Ltd. announced the commissioning of “Lactid Project” aimed at augmenting the production capacity of lactic acid and its products.

Lactic Acid Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the lactic acid market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global lactic acid market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the lactic acid industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.