Global Lactic Acid Market Size, Share & Trends Analysis Report, By Raw material (Corn, Sugarcane, Cassava, Other Crops) By Application (Industrial, Food & Beverages, Pharmaceuticals, Personal Care, PLA, Other Applications) and By Region, And Segment Forecasts, Till : 2030.

Report ID : AMR1005019 | Industries : Others | Published On :January 2024 | Page Count : 218

Global Lactic Acid Market Size, Share & Trends Analysis Report, By Raw material (Corn, Sugarcane, Cassava, Other Crops) By Application (Industrial, Food & Beverages, Pharmaceuticals, Personal Care, PLA, Other Applications) and By Region, And Segment Forecasts, Till – 2030.

Market Overview

According to Analytical Market Research, the global Lactic Acid market estimated at USD 3.25 billion in 2022 and will expand at a compound annual growth rate (CAGR) of 9.66% from 2023 to 2030. Over the course of the forecast period, the product's use in a variety of industries, including pharmaceuticals and food and beverage, is expected to fuel demand, particularly in growing economies like China, Indonesia, and India.

Lactic Acid Market Dynamics: Key Drivers & Restraints

Increase in demand for lactic acid in the various end use industries
Considering several commercial uses, the product is regarded as one of the most well-known organic acids. The product finds its primary uses in the food, chemical, pharmaceutical, and cosmetics sectors. This product is classified as lactic acid bacteria, which is a broad category of advantageous bacteria with probiotic qualities. Furthermore, this acid is essential to produce wine, pickles, sausages, fish, meat, and vegetable curing, as well as the baking of fermented dairy products.
Fluctuations in raw material prices
The total cost of lactic acid can be affected by changes in the price of raw materials, such as corn or sugarcane, which are frequently utilized in the production process. For market participants, this price volatility can be a major deterrent.

How are Segments Performing in the Global Lactic Acid Market?

Lactic Acid Raw Material Segment Breakdown
According to Analytical Market Research, the Lactic Acid market by Raw material is segmented into Basic Corn, Sugarcane, Cassava, Other Crops.
Lactic Acid Application Segment Breakdown
According to Analytical Market Research, based on Application, the market is bifurcated into Industrial, Food & Beverages, Pharmaceuticals, Personal Care, PLA, Other Applications.
Lactic Acid Geographic Exploration
According to Analytical Market Research, the North America region is predicted to dominate the market due to the growing personal care, pharmaceutical, and food & beverages industries. The expanding pharmaceutical industry in the United States because of increasing expenditures on medicines is expected to have a positive impact on the market in this region. Other regions competing in the market are North America, Europe, Middle East and Africa and Latin America respectively.

Noticeable Players Functioning in The Global Lactic Acid Market Include:

• thyssenkrupp AG
• Henan Jindan Lactic Acid Technology Co. Ltd.
• NatureWorks LLC
• TEIJIN LIMITED
• Dow
• Corbion
• Futerro
• Musashino Chemical (China) Co., Ltd.
• Galactic
• BASF SE

KEY BREAKDOWN: Lactic Acid Market

By Raw material
• Corn
• Sugarcane
• Cassava
• Other Crops
By Application
• Industrial
• Food & Beverages
• Pharmaceuticals
• Personal Care
• PLA
• Other Applications
Geographical Exploration:
• North America
o The USA
o Canada
o Mexico
• Europe
o Germany
o France
o UK
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Southeast Asia
o Rest of Asia Pacific
• Latin America
o Brazil
o Argentina
o Rest of Latin America
• Middle East and Africa
o GCC Countries
o South Africa
o Rest of MEA

1. Research Methodology
1.1. Global Lactic Acid Market Snapshot, 2023 and 2030
1.2. Data Mining
1.3. Validation
1.4. Primary Interviews
1.5. List of Data Sources
1.6. Future Market Projections
1.7. Industry Developments and Key Market Events
2. Executive Summary
3. Market Overview
3.1. Market Scope and Definition
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunity
3.2.4. Challenges
3.2.5. Cumulative Impact due to Recent Energy Crisis
3.2.6. Cumulative Impact due to Nearing Economic Downturn
3.2.7. Post Covid-19 World Supply & Demand Conditions
3.2.8. Cumulative Impact of Russia-Ukraine Conflict
3.2.9. Key Trends
3.3. Lactic Acid Market: Value Chain
3.3.1. List of Raw Material Supplier
3.3.2. List of Manufacturers
3.3.3. List of Applications
3.4. Porter Five Force’s Analysis
3.5. Regulatory and Technology Landscape
4. Global Lactic Acid Market Outlook: Forecast (2023 – 2030)
4.1. Key Highlights
4.1.1. Market Size and Y-o-Y Growth
4.1.2. Absolute $ Opportunity
4.2. Market Size (US$ Mn) Analysis and Forecast
4.2.1. Current Market Size Forecast, 2023–2030
4.3. Global Lactic Acid Market Outlook: Raw Material
4.3.1. Introduction / Key Findings
4.3.2. Market Size (US$ Mn) and Forecast Technology, 2023 – 2030
4.3.2.1. Corn
4.3.2.2. Sugarcane
4.3.2.3. Cassava
4.3.2.4. Other Crops
4.4. Global Lactic Acid Market Outlook: Application
4.4.1. Introduction / Key Findings
4.4.2. Market Size (US$ Mn) and Forecast By Application, 2023 – 2030
4.4.2.1.1. Industrial
4.4.2.1.2. Food & Beverages
4.4.2.1.3. Pharmaceuticals
4.4.2.1.4. Personal Care
4.4.2.1.5. PLA
4.4.2.1.6. Other Applications
5. Global Lactic Acid Market Outlook: Region
5.1. Key Highlights
5.2. Market Size (US$ Mn) and Forecast By Region, 2023 – 2030
5.2.1. North America
5.2.2. Europe
5.2.3. Asia Pacific
5.2.4. Latin America
5.2.5. Middle East & Africa (MEA)
6. North America Lactic Acid Market Outlook: Forecast (2023 – 2030)
6.1. Key Highlights
6.2. Pricing Analysis
6.3. Market Size (US$ Mn) and Analysis By Market, 2023 – 2022
6.3.1. By Country
6.3.2. By Raw Material
6.3.3. By Application
6.4. Market Size (US$ Mn) and Forecast By Country, 2023 – 2030
6.4.1. U.S.
6.4.2. Canada
6.4.3. Mexico
6.5. Market Size (US$ Mn) and Forecast By Raw Material, 2023 – 2030
6.5.1. Corn
6.5.2. Sugarcane
6.5.3. Cassava
6.5.4. Other Crops
6.6. Market Size (US$ Mn) and Forecast By Application, 2023 – 2030
6.6.1. Industrial
6.6.2. Food & Beverages
6.6.3. Pharmaceuticals
6.6.4. Personal Care
6.6.5. PLA
6.6.6. Other Applications
7. Europe Lactic Acid Market Outlook: Forecast (2023 – 2030)
7.1. Key Highlights
7.2. Pricing Analysis
7.3. Market Size (US$ Mn) and Analysis By Market, 2023 – 2030
7.3.1. By Country
7.3.2. By Raw Material
7.3.3. By Application
7.4. Market Size (US$ Mn) and Forecast By Country, 2023 – 2030
7.4.1. Germany
7.4.2. France
7.4.3. U.K.
7.4.4. Russia
7.4.5. Italy
7.4.6. Spain
7.4.7. Rest of Europe
7.5. Market Size (US$ Mn) and Forecast By Raw Material, 2023 – 2030
7.5.1. Corn
7.5.2. Sugarcane
7.5.3. Cassava
7.5.4. Other Crops
7.6. Market Size (US$ Mn) and Forecast By Application, 2023 – 2030
7.6.1. Industrial
7.6.2. Food & Beverages
7.6.3. Pharmaceuticals
7.6.4. Personal Care
7.6.5. PLA
8. Other Applications Asia Pacific Lactic Acid Market Outlook: Forecast (2023 – 2030)
8.1. Key Highlights
8.2. Pricing Analysis
8.3. Market Size (US$ Mn) and Analysis By Market, 2023 – 2030
8.3.1. By Country
8.3.2. By Raw Material
8.3.3. By Application
8.4. Market Size (US$ Mn) and Forecast By Country, 2023 – 2030
8.4.1. China
8.4.2. Japan
8.4.3. India
8.4.4. South Korea
8.4.5. Australia
8.4.6. New Zealand
8.4.7. Singapore
8.4.8. Malaysia
8.4.9. Rest of Asia
8.5. Market Size (US$ Mn) and Forecast By Raw Material, 2023 – 2030
8.5.1. Corn
8.5.2. Sugarcane
8.5.3. Cassava
8.5.4. Other Crops
8.6. Market Size (US$ Mn) and Forecast By Application, 2023 – 2030
8.6.1. Industrial
8.6.2. Food & Beverages
8.6.3. Pharmaceuticals
8.6.4. Personal Care
8.6.5. PLA
9. Other Applications Latin America Lactic Acid Market Outlook: Forecast (2023 – 2030)
9.1. Key Highlights
9.2. Pricing Analysis
9.3. Market Size (US$ Mn) and Analysis By Market, 2023 – 2030
9.3.1. By Country
9.3.2. By Raw Material
9.3.3. By Application
9.4. Market Size (US$ Mn) and Forecast By Country, 2023 – 2030
9.4.1. Brazil
9.4.2. Argentina
9.4.3. Colombia
9.4.4. Peru
9.4.5. Chile
9.4.6. Venezuela
9.4.7. Rest of Latin America
9.5. Market Size (US$ Mn) and Forecast By Raw Material, 2023 – 2030
9.5.1. Corn
9.5.2. Sugarcane
9.5.3. Cassava
9.5.4. Other Crops
9.6. Market Size (US$ Mn) and Forecast By Application, 2023 – 2030
9.6.1. Industrial
9.6.2. Food & Beverages
9.6.3. Pharmaceuticals
9.6.4. Personal Care
9.6.5. PLA
9.6.6. Other Applications
10. Middle East & Africa Lactic Acid Market Outlook: Forecast (2023 – 2030)
10.1. Key Highlights
10.2. Pricing Analysis
10.3. Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2023 – 2030
10.3.1. By Country
10.3.2. By Raw Material
10.3.3. By Application
10.4. Market Size (US$ Mn) and Forecast By Country, 2023 – 2030
10.4.1. Saudi Arabia
10.4.2. UAE
10.4.3. Egypt
10.4.4. Kuwait
10.4.5. South Africa
10.4.6. Rest of Middle East & Africa
10.5. Market Size (US$ Mn) and Forecast By Raw Material, 2023 – 2030
10.5.1. Corn
10.5.2. Sugarcane
10.5.3. Cassava
10.5.4. Other Crops
10.6. Market Size (US$ Mn) and Forecast By Application, 2023 – 2030
10.6.1. Industrial
10.6.2. Food & Beverages
10.6.3. Pharmaceuticals
10.6.4. Personal Care
10.6.5. PLA
10.6.6. Other Applications
11. Competition Analysis
11.1. Market Share Analysis Of Top Vendors
11.2. Market Structure
11.2.1. Competition Intensity Mapping By Market
11.2.2. Competition Dashboard
11.2.3. Key Development Strategies
11.3. Company Profiles
11.3.1. thyssenkrupp AG
11.3.1.1. Overview
11.3.1.2. Offerings
11.3.1.3. Business Segment & Geographic Overview
11.3.1.4. Key Financials
11.3.1.5. Key Market Developments
11.3.1.6. Key Market Strategy
11.3.2. Henan Jindan Lactic Acid Technology Co. Ltd.
11.3.3. NatureWorks LLC
11.3.4. TEIJIN LIMITED
11.3.5. Dow
11.3.6. Corbion
11.3.7. Futerro
11.3.8. Musashino Chemical (China) Co., Ltd.
11.3.9. Galactic
11.3.10. BASF SE