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Lactic Acid Market

Lactic Acid Market By Price (Range, Low, Medium, High)-Growth, Future Prospects & Competitive Analysis, 2016 – 2030

Summary
Table Of Content

Market Insights

The lactic acid market offers wonderful possibilities for growth.
However, it also faces numerous challenges. Volatility in raw material costs, such as corn and sugar feedstocks, significantly restrains lactic acid manufacturers.
Large-scale production and logistics additionally present challenges, as lactic acid calls for managed fermentation tactics and specialized infrastructure.
Additionally, the constrained availability of raw materials in certain regions and extreme opposition from other natural acids affect the market growth.
Stringent rules and quality requirements for lactic acid products additionally challenge producers.

Executive Summary

Market Definition

The lactic acid marketplace is witnessing sizeable growth due to the growing demand for sustainable and biodegradable merchandise across various industries. Lactic acid, a versatile organic acid, is derived through fermentation and finds applications in industries such as food and beverages, pharmaceuticals, personal care, and packaging.

The market is driven using factors, the growing awareness of environmental concerns, expanding customer preference for convenience foods, technological developments in lactic acid production, and favorable government regulations promoting bio-based chemical compounds.

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Market Overview

The lactic acid market is segmented based on raw material, application, and location. Regarding raw materials, the market is classified into sugarcane, corn, cassava, and others. Due to its higher yield and sustainability, sugarcane-primarily based lactic acid production holds the biggest marketplace percentage.

Corn-based lactic acid is extensively used but is more prone to charge fluctuations. Cassava based lactic acid is gaining a reputation in areas with abundant cassava manufacturing. Other feedstocks encompass cellulosic biomass and lactose.

Based on application, the lactic acid market is segmented into food and beverages, prescription drugs, private care, packaging, and others. The food and beverages section holds a giant share because of the worldwide consumption of packaged and convenience foods.

Lactic acid is used as a preservative, pH regulator, flavoring agent, and in dairy products. In the pharmaceutical industry, lactic acid is used as an excipient in drug formulations and to supply biodegradable sutures.

In personal care products, lactic acid is applied to moisturize and exfoliate homes. The packaging industry is witnessing a surge in calls for lactic acid-based biodegradable materials, driving market growth.

Key Highlights of the Report

The worldwide lactic acid marketplace is projected to attain USD 5620.27 million by 2030, displaying a CAGR of 8.03% from 2023 to 2030. The market is experiencing regular increases due to the increasing demand for biodegradable and sustainable products in diverse industries.

The sugarcane section accounted for the largest marketplace percentage in sales in 2022. Sugarcane-based lactic acid manufacturing is gaining prominence because of its higher yield and sustainability than other feedstocks.

The polylactic acid (PLA) phase ruled the lactic acid marketplace. PLA is a biodegradable and compostable thermoplastic derived from lactic acid, broadly utilized in packaging, material, and biomedical programs.

North America emerged because of the dominant market for lactic acid, driven by the rising demandfor eco-friendly solutions, stringent environmental policies, and major lactic acid producers within the region.

What Are the Main Drivers of the Lactic Acid Market?

The main drivers of the Lactic Acid Market include the increasing demand for biodegradable and sustainable merchandise, growing awareness concerning environmental concerns, rising consumption of packaged and convenience foods, expansion of the pharmaceutical and personal care industries, technological developments in lactic acid manufacturing methods, and government guidelines and regulations promoting the use of bio-based chemical compounds.

What Are The Major Challenges Faced By the Lactic Acid Market?

The major challenges faced by the Lactic Acid Market include volatility in raw material costs, challenges related to large-scale manufacturing and logistics, limited availability of raw materials in certain regions, intense opposition from other organic acids, and stringent guidelines and high-quality requirements for lactic acid products.

What Are The Growth Opportunities In the Lactic Acid Market?

The growth opportunities in the Lactic Acid Market include the development of revolutionary programs for lactic acid, increasing demand for lactic acid as a bioplastic precursor, expansion in emerging economies, collaborations and partnerships, investments in research and development, and growing demand for lactic acid in biodegradable packaging.

Increasing demand for biodegradable and sustainable merchandise:

Growing environmental concerns and the need for eco-friendly solutions drive the demand for lactic acid in numerous industries. Lactic acid offers biodegradability and can replace petrochemical-based total products, contributing to a circular economic system.

Growing awareness concerning environmental concerns:

Consumers have become extra aware of the environmental impact of products they purchase. Lactic acid, a bio-based, sustainable alternative, is gaining a reputation in diverse applications, which include packaging, wherein it reduces reliance on non-renewable sources.

Rising consumption of packaged and convenience foods:

The demand for packaged and convenience foods is growing globally due to changing lifestyles and urbanization. Lactic acid is used as a preservative, enhancing the shelf life of food products without the need for synthetic additives.

Expansion of the pharmaceutical and personal care industries:

Lactic acid reveals extensive applications within the pharmaceutical and personal care industries. It is used as an excipient in drug formulations, enhancing the bioavailability and stability of active pharmaceutical elements. In personal care, lactic acid is used in skincare and haircare products to exfoliate and moisturize properties.

Technological developments in lactic acid manufacturing methods:

Continuous research and development efforts have improved lactic acid manufacturing techniques, such as developing genetically modified microorganisms and improved fermentation strategies. These developments have resulted in higher yields, improved process performance, and reduced production costs.

Government guidelines and regulations promoting the use of bio-based chemical compounds:

Various governments and regulatory bodies are implementing rules and policies to inspire the usage of bio-based chemical substances and decrease the environmental impact of industrial methods. This has created favorable market surroundings for lactic acid, with incentives and subsidies supplied to producers.

Volatility in raw material costs:

Lactic acid production relies heavily on feedstock charges, especially corn and sugar. Fluctuations in feedstock prices can substantially impact the profitability of lactic acid manufacturers.

Challenges related to large-scale manufacturing and logistics:

Lactic acid manufacturing calls for managed fermentation strategies and specialized infrastructure, which may be challenging to enforce on a big scale. Also, due to its sensitivity to temperature and storage conditions, lactic acid’s logistics and transportation can pose demanding situations.

Limited availability of raw materials in certain regions:

The availability of raw materials, such as sugarcane and corn, can range throughout the region. Limited get entry to those feedstocks can hinder the manufacturing and growth of the lactic acid market in specific geographical areas.

Intense opposition from other organic acids:

Lactic acid faces opposition from other organic acids, consisting of acetic acid, citric acid, and succinic acid. These acids offer comparable houses and find applications in similar industries, growing a competitive market environment for lactic acid.

Stringent guidelines and high-quality requirements for lactic acid products:

Lactic acid producers must follow stringent guidelines and high-quality requirements to ensure product safety and meet customer requirements. Compliance with these standards adds to the manufacturing costs and regulatory burdens.

Development of revolutionary programs for lactic acid:

Lactic acid gives a huge capacity for developing modern programs within the food, pharmaceutical, and personal care industries. Manufacturers can explore new formulations and product strains to cater to evolving consumer needs.

Increasing demand for lactic acid as a bioplastic precursor:

Lactic acid is a precursor for generating polylactic acid (PLA), a biodegradable and compostable bioplastic. The growing demand for sustainable packaging lets lactic acid producers expand their market presence.

Expansion in emerging economies:

Emerging economies with a growing population and disposable profits gift a massive increase in opportunity for the lactic acid market. These areas provide untapped potential for lactic acid applications and can contribute to the marketplace’s expansion.

Collaborations and partnerships:

Collaborations between lactic acid producers and raw material suppliers can lead to custom-designed solutions and advanced delivery chain efficiencies. Partnerships with end-customers like foods and beverage businesses or pharmaceutical manufacturers can foster innovation and marketplace increase.

Investments in research and development:

Continued investments in studies and development can enhance the performance and cost-effectiveness of lactic acid production approaches. Advancements in fermentation techniques, strain development, and downstream processing can cause better yields and improved product quality.

Growing demand for lactic acid in biodegradable packaging:

The growing consumer preference for sustainable packaging materials drives the demand for lactic acid-based biodegradable packaging. Manufacturers can capitalize on this trend by offering eco-friendly packaging solutions to various industries.

Competitive Landscape

The lactic acid marketplace is rather competitive, with several key players operating globally. These organizations focus on studies and development, strategic partnerships, and expanding their manufacturing capacities to advantage a competitive aspect.

Key marketplace gamers include Corbion N.V., Cargill, Incorporated, Galactic, Henan Jindan Lactic Acid Technology Co., Ltd., and Purac Biomaterials.

Key Players

The Lactic Acid market is highly competitive, with several key players. Some of the major players in the market and their market share are as follows:

Corbion NV
Cargill, Incorporated
Galactic SA
Henan Jindan Lactic Acid Technology Co., Ltd
Musashino Chemical Laboratory, Ltd

These key players continuously innovate and spend money on research and development to amplify their product portfolios and cater to evolving purchaser demands. The lactic acid marketplace is predicted to develop further with the emergence of the latest applications and the adoption of sustainable solutions across industries.

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Summary of Key Findings

The worldwide lactic acid market is projected to attain USD 5,620.27 million through 2030, exhibiting a CAGR of 8.03% from 2023 to 2030.
Sugarcane-based lactic acid production holds the largest market proportion, even as the polylactic acid (PLA) phase dominates.
North America is the main region inside the lactic acid marketplace, driven by the demand for eco-friendly solutions and stringent environmental regulations.
The marketplace is driven by the growing demand for sustainable merchandise, developing awareness of environmental issues, and expanding consumption of comfort foods.
Challenges for the market include raw material rate volatility, big-scale production complexities, restrained feedstock availability in certain areas, extreme competition from other organic acids, and stringent exceptional standards.
Market growth opportunities include developing modern programs, the growing demand for lactic acid as a bioplastic precursor, enlargement in rising economies, collaborations and partnerships, investments in studies and development, and the developing demand for biodegradable packaging substances.

Future Outlook

The lactic acid market is predicted to grow in the coming years.
The demand for biodegradable and sustainable products is projected to increase, riding the adoption of lactic acid in numerous industries.
Advances in production tactics, feedstock availability, and developing the latest applications will contribute to market expansion.
However, manufacturers ought to address demanding situations associated with raw material prices, large-scale manufacturing, and regulatory compliance to capitalize on the opportunities in the lactic acid market.

Segmentation

By Price Range

Low
Medium
High

By Region

North America

US.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe

Asia Pacific

China
Japan
India
South Korea
South-east Asia
Rest of Asia Pacific

Latin America

Brazil
Argentina
Rest of Latin America

Middle East & Africa

GCC Countries
South Africa
Rest of Middle East and Africa

CHAPTER NO. 1 : INTRODUCTION 19

1.1. Report Description 19

1.1.1. Purpose of the Report 19

1.1.2. USP & Key Offerings 19

1.2. Key Benefits for Stakeholders 19

1.3. Target Audience 20

1.4. Report Scope 20

CHAPTER NO. 2 : EXECUTIVE SUMMARY 24

2.1. Lactic Acid Market Snapshot 24

2.2. Global Lactic Acid Market, 2017 – 2030 (Kilo Tons) (USD Million) 26

2.1. Insights from Primary Respondents 26

CHAPTER NO. 3 : COVID 19 IMPACT ANALYSIS 27

3.1. Impact Assessment of COVID-19 Pandemic, By Region 27

CHAPTER NO. 4 : LACTIC ACID MARKET – INDUSTRY ANALYSIS 28

4.1. Introduction 28

4.2. Market Drivers 29

4.2.1. Increasing demand for biodegradable and sustainable products 29

4.2.2. Growing awareness regarding environmental concerns and the need for eco-friendly solutions 30

4.3. Market Restraints 30

4.3.1. Restraining Factor Analysis 30

4.4. Market Opportunities 31

4.4.1. Market Opportunity Analysis 31

4.5. Porter’s Five Forces Analysis 31

4.6. Value Chain Analysis 32

CHAPTER NO. 5 : KEY INVESTMENT POCKETS ANALYSIS 33

5.1. Top Investment Pockets 33

5.1.1.1. Lactic Acid Market Attractiveness Analysis, By Type 33

5.1.1.2. Lactic Acid Market Attractiveness Analysis, By Application 33

5.1.1.3. Lactic Acid Market Attractiveness Analysis, By Raw Material 34

5.2. Product Life Cycle Analysis 35

5.3. Incremental Revenue Growth Opportunity, 2023 – 2030 36

5.3.1. Type 36

5.3.2. Application 36

5.3.3. Raw Material 37

CHAPTER NO. 6 : IMPORT EXPORT ANALYSIS 38

6.1. Import Analysis by Region 38

6.1.1. Global Lactic Acid Market Import Volume, By Region, 2017 – 2022 (Kilo Tons) 38

6.2. Export Analysis by Region 38

6.2.1. Global Lactic Acid Market Export Volume, By Region, 2017 – 2022 (Kilo Tons) 38

CHAPTER NO. 7 : DEMAND SUPPLY ANALYSIS 39

7.1. Demand Analysis by Region 39

7.1.1. Global Lactic Acid Market Demand Volume, By Region, 2017 – 2022 (Kilo Tons) 39

7.2. Supply Analysis by Region 39

7.2.1. Global Lactic Acid Market Supply Volume, By Region, 2017 – 2022 (Kilo Tons) 39

CHAPTER NO. 8 : MARKET POSITIONING OF KEY PLAYERS 40

8.1. Company Market Share Analysis –2020 and 2022 40

8.1.1. Global Lactic Acid Market: Company Market Share, 2022 40

8.1.2. Global Lactic Acid Market: Company Market Share, 2022 40

8.1. Global Lactic Acid Market Company Volume Market Share, 2022 41

8.2. Global Lactic Acid Market Company Revenue Market Share, 2022 42

8.3. Market Position of Key Players 2022 43

8.3.1. Market Position of Key Players, 2022 43

8.4. Strategic Developments 44

8.4.1. Acquisitions & Mergers 44

8.4.2. New Product Launch 44

8.4.3. Regional Expansion 44

CHAPTER NO. 9 : LACTIC ACID MARKET – BY TYPE SEGMENT ANALYSIS 45

9.1. Lactic Acid Market Overview, by Type Segment 45

9.1.1. Global Lactic Acid Market Volume Share, By Type, 2022 & 2030 46

9.1.2. Global Lactic Acid Market Revenue Share, By Type, 2022 & 2030 46

9.2. D-Lactic Acid 47

9.2.1. Global D-Lactic Acid Lactic Acid Market Volume, By Region, 2017 – 2022 (Kilo Tons) 47

9.2.2. Global D-Lactic Acid Lactic Acid Market Revenue, By Region, 2017 – 2022 (USD Million) 48

9.3. L-Lactic Acid 49

9.3.1. Global L-Lactic Acid Lactic Acid Market Volume, By Region, 2017 – 2022 (Kilo Tons) 49

9.3.2. Global D-Lactic Acid Lactic Acid Market Revenue, By Region, 2017 – 2022 (USD Million) 50

9.4. DL-Lactic Acid 51

9.4.1. Global DL-Lactic Acid Lactic Acid Market Volume, By Region, 2017 – 2022 (Kilo Tons) 51

9.4.2. Global DL-Lactic Acid Lactic Acid Market Revenue, By Region, 2017 – 2022 (USD Million) 52

CHAPTER NO. 10 : LACTIC ACID MARKET – BY APPLICATION SEGMENT ANALYSIS 57

10.1. Lactic Acid Market Overview, by Application Segment 57

10.1.1. Global Lactic Acid Market Volume Share, By Application, 2022 & 2030 58

10.1.2. Global Lactic Acid Market Revenue Share, By Application, 2022 & 2030 58

10.2. Food & Beverages 59

10.2.1. Global Lactic Acid for Food & Beverages Market Volume, By Region, 2017 – 2022 (Kilo Tons) 59

10.2.2. Global Lactic Acid for Food & Beverages Market Revenue, By Region, 2017 – 2022 (USD Million) 60

10.3. Pharmaceuticals 61

10.3.1. Global Lactic Acid for Pharmaceuticals Market Volume, By Region, 2017 – 2022 (Kilo Tons) 61

10.3.2. Global Lactic Acid for Pharmaceuticals Market Revenue, By Region, 2017 – 2022 (USD Million) 62

10.4. Personal Care 63

10.4.1. Global Lactic Acid for Personal Care Market Volume, By Region, 2017 – 2022 (Kilo Tons) 63

10.4.2. Global Lactic Acid for Personal Care Market Revenue, By Region, 2017 – 2022 (USD Million) 64

10.5. Industrial 65

10.5.1. Global Lactic Acid for Industrial Market Volume, By Region, 2017 – 2022 (Kilo Tons) 65

10.5.2. Global Lactic Acid for Industrial Market Revenue, By Region, 2017 – 2022 (USD Million) 66

10.6. Others 67

10.6.1. Global Lactic Acid for Others Market Volume, By Region, 2017 – 2022 (Kilo Tons) 67

10.6.2. Global Lactic Acid for Others Market Revenue, By Region, 2017 – 2022 (USD Million) 68

CHAPTER NO. 11 : LACTIC ACID MARKET – BY RAW MATERIAL SEGMENT ANALYSIS 69

11.1. Lactic Acid Market Overview, by Raw Material Segment 69

11.1.1. Global Lactic Acid Market Volume Share, By Raw Material, 2022 & 2030 70

11.1.2. Global Lactic Acid Market Revenue Share, By Raw Material, 2022 & 2030 70

11.2. Corn 71

11.2.1. Global Corn Lactic Acid Market Volume, By Region, 2017 – 2022 (Kilo Tons) 71

11.2.2. Global Corn Lactic Acid Market Revenue, By Region, 2017 – 2022 (USD Million) 72

11.3. Sugarcane 73

11.3.1. Global Sugarcane Lactic Acid Market Volume, By Region, 2017 – 2022 (Kilo Tons) 73

11.3.2. Global Sugarcane Lactic Acid Market Revenue, By Region, 2017 – 2022 (USD Million) 74

11.4. Cassava 75

11.4.1. Global Cassava Lactic Acid Market Volume, By Region, 2017 – 2022 (Kilo Tons) 75

11.4.2. Global Cassava Lactic Acid Market Revenue, By Region, 2017 – 2022 (USD Million) 76

CHAPTER NO. 12 : LACTIC ACID MARKET – REGIONAL ANALYSIS 81

12.1. Lactic Acid Market Overview, by Region Segment 81

12.1.1. Global Lactic Acid Market Volume Share, By Region, 2022 & 2030 82

12.1.2. Global Lactic Acid Market Revenue Share, By Region, 2022 & 2030 82

12.1.3. Global Lactic Acid Market Volume, By Region, 2017 – 2022 (Kilo Tons) 83

12.1.4. Global Lactic Acid Market Revenue, By Region, 2017 – 2022 (USD Million) 84

12.1.5. Global Lactic Acid Market Volume, By Type, 2017 – 2022 (Kilo Tons) 85

12.1.6. Global Lactic Acid Market Revenue, By Type, 2017 – 2022 (USD Million) 86

12.1.7. Global Lactic Acid Market Volume, By Application, 2017 – 2022 (Kilo Tons) 87

12.1.8. Global Lactic Acid Market Revenue, By Application, 2017 – 2022 (USD Million) 88

12.1.9. Global Lactic Acid Market Volume, By Raw Material, 2017 – 2022 (Kilo Tons) 89

12.1.10. Global Lactic Acid Market Revenue, By Raw Material, 2017 – 2022 (USD Million) 90

12.2. North America 91

12.2.1. North America Lactic Acid Market Volume, By Country, 2017 – 2022 (Kilo Tons) 92

12.2.2. North America Lactic Acid Market Revenue, By Country, 2017 – 2022 (USD Million) 92

12.2.2.1. North America Lactic Acid Market Volume, By Type, 2017 – 2022 (Kilo Tons) 93

12.2.3. North America Lactic Acid Market Revenue, By Type, 2017 – 2022 (USD Million) 94

12.2.4. North America Lactic Acid Market Volume, By Application, 2017 – 2022 (Kilo Tons) 95

12.2.5. North America Lactic Acid Market Revenue, By Application, 2017 – 2022 (USD Million) 96

12.2.6. North America Lactic Acid Market Volume, By Raw Material, 2017 – 2022 (Kilo Tons) 97

12.2.7. North America Lactic Acid Market Revenue, By Raw Material, 2017 – 2022 (USD Million) 98

12.2.8. U.S. 99

12.2.9. Canada 99

12.2.10. Mexico 99

12.3. Europe 100

12.3.1. Europe Lactic Acid Market Volume, By Country, 2017 – 2022 (Kilo Tons) 101

12.3.2. Europe Lactic Acid Market Revenue, By Country, 2017 – 2022 (USD Million) 102

12.3.3. Europe Lactic Acid Market Volume, By Type, 2017 – 2022 (Kilo Tons) 103

12.3.4. Europe Lactic Acid Market Revenue, By Type, 2017 – 2022 (USD Million) 104

12.3.5. Europe Lactic Acid Market Volume, By Application, 2017 – 2022 (Kilo Tons) 105

12.3.6. Europe Lactic Acid Market Revenue, By Application, 2017 – 2022 (USD Million) 106

12.3.7. Europe Lactic Acid Market Volume, By Raw Material, 2017 – 2022 (Kilo Tons) 107

12.3.8. Europe Lactic Acid Market Revenue, By Raw Material, 2017 – 2022 (USD Million) 108

12.3.9. UK 109

12.3.10. France 109

12.3.11. Germany 109

12.3.12. Italy 109

12.3.13. Spain 109

12.3.14. Russia 109

12.3.15. BENELUX 109

12.3.16. Sweden 109

12.3.17. Denmark 109

12.3.18. Poland 109

12.3.19. Austria 109

12.3.20. Rest of Europe 109

12.4. Asia Pacific 110

12.4.1. Asia Pacific Lactic Acid Market Volume, By Country, 2017 – 2022 (Kilo Tons) 111

12.4.2. Asia Pacific Lactic Acid Market Revenue, By Country, 2017 – 2022 (USD Million) 112

12.4.3. Asia Pacific Lactic Acid Market Volume, By Type, 2017 – 2022 (Kilo Tons) 113

12.4.4. Asia Pacific Lactic Acid Market Revenue, By Type, 2017 – 2022 (USD Million) 114

12.4.5. Asia Pacific Lactic Acid Market Volume, By Application, 2017 – 2022 (Kilo Tons) 115

12.4.6. Asia Pacific Lactic Acid Market Revenue, By Application, 2017 – 2022 (USD Million) 116

12.4.7. Asia Pacific Lactic Acid Market Volume, By Raw Material, 2017 – 2022 (Kilo Tons) 117

12.4.8. Asia Pacific Lactic Acid Market Revenue, By Raw Material, 2017 – 2022 (USD Million) 118

12.4.9. China 119

12.4.10. Japan 119

12.4.11. South Korea 119

12.4.12. India 119

12.4.13. Thailand 119

12.4.14. Indonesia 119

12.4.15. Vietnam 119

12.4.16. Malaysia 119

12.4.17. Philippines 119

12.4.18. Taiwan 119

12.4.19. Rest of Asia Pacific 119

12.5. Latin America 120

12.5.1. Latin America Lactic Acid Market Volume, By Country, 2017 – 2022 (Kilo Tons) 121

12.5.2. Latin America Lactic Acid Market Revenue, By Country, 2017 – 2022 (USD Million) 122

12.5.3. Latin America Lactic Acid Market Volume, By Type, 2017 – 2022 (Kilo Tons) 123

12.5.4. Latin America Lactic Acid Market Revenue, By Type, 2017 – 2022 (USD Million) 124

12.5.5. Latin America Lactic Acid Market Volume, By Application, 2017 – 2022 (Kilo Tons) 125

12.5.6. Latin America Lactic Acid Market Revenue, By Application, 2017 – 2022 (USD Million) 126

12.5.7. Latin America Lactic Acid Market Volume, By Raw Material, 2017 – 2022 (Kilo Tons) 127

12.5.8. Latin America Lactic Acid Market Revenue, By Raw Material, 2017 – 2022 (USD Million) 128

12.5.9. Brazil 129

12.5.10. Argentina 129

12.5.11. Colombia 129

12.5.12. Chile 129

12.5.13. Peru 129

12.5.14. Rest of Latin America 129

12.6. The Middle-East 130

12.6.1. Middle East Lactic Acid Market Volume, By Country, 2017 – 2022 (Kilo Tons) 131

12.6.2. Middle East Lactic Acid Market Revenue, By Country, 2017 – 2022 (USD Million) 132

12.6.3. Middle East Lactic Acid Market Volume, By Type, 2017 – 2022 (Kilo Tons) 133

12.6.4. Middle East Lactic Acid Market Revenue, By Type, 2017 – 2022 (USD Million) 134

12.6.5. Middle East Lactic Acid Market Volume, By Application, 2017 – 2022 (Kilo Tons) 135

12.6.6. Middle East Lactic Acid Market Revenue, By Application, 2017 – 2022 (USD Million) 136

12.6.7. Middle East Lactic Acid Market Volume, By Raw Material, 2017 – 2022 (Kilo Tons) 137

12.6.8. Middle East Lactic Acid Market Revenue, By Raw Material, 2017 – 2022 (USD Million) 138

12.6.9. GCC Countries 139

12.6.10. Israel 139

12.6.11. Turkey 139

12.6.12. Iran 139

12.6.13. Rest of Middle East & Africa 139

12.7. Africa 140

12.7.1. Africa Lactic Acid Market Volume, By Country, 2017 – 2022 (Kilo Tons) 141

12.7.2. Africa Lactic Acid Market Revenue, By Country, 2017 – 2022 (USD Million) 142

12.7.3. Africa Lactic Acid Market Volume, By Type, 2017 – 2022 (Kilo Tons) 143

12.7.4. Africa Lactic Acid Market Revenue, By Type, 2017 – 2022 (USD Million) 144

12.7.5. Africa Lactic Acid Market Volume, By Application, 2017 – 2022 (Kilo Tons) 145

12.7.6. Africa Lactic Acid Market Revenue, By Application, 2017 – 2022 (USD Million) 146

12.7.7. Africa Lactic Acid Market Volume, By Raw Material, 2017 – 2022 (Kilo Tons) 147

12.7.8. Africa Lactic Acid Market Revenue, By Raw Material, 2017 – 2022 (USD Million) 148

12.7.9. South Africa 149

12.7.10. Egypt 149

12.7.11. Nigeria 149

12.7.12. Algeria 149

12.7.13. Morocco 149

12.7.14. Rest of Africa 149

CHAPTER NO. 13 : COMPANY PROFILES 150

13.1. BASF SE 150

13.1.1. Company Overview 150

13.1.2. Product Portfolio 150

13.1.3. Financial Overview 150

13.2. Corbion N.V. 151

13.3. NatureWorks LLC 151

13.4. Galactic S.A. 151

13.5. Cargill, Incorporated 151

13.6. Henan Jindan Lactic Acid Technology Co., Ltd. 151

13.7. Teijin Ltd. 151

13.8. Musashino Chemical Laboratory, Ltd. 151

13.9. Futerro 151

13.10. Archer Daniels Midland Company 151

13.11. Danimer Scientific 151

13.12. PURAC (Carbion Biotech) 151

13.13. Henan Honghui Biotechnology Co., Ltd. 151

13.14. Jungbunzlauer Suisse AG 151

CHAPTER NO. 14 : RESEARCH METHODOLOGY 152

14.1. Research Methodology 152

14.2. Phase I – Secondary Research 153

14.3. Phase II – Data Modeling 153

14.3.1. Company Share Analysis Model 154

14.3.2. Revenue Based Modeling 154

14.4. Phase III – Primary Research 155

14.5. Research Limitations 156

14.5.1. Assumptions 156

List of Figures

FIG NO. 1. Global Lactic Acid Market Volume & Revenue, 2017 – 2030 (Kilo Tons) (USD Million) 26

FIG NO. 2. Porter’s Five Forces Analysis for Global Lactic Acid Market 31

FIG NO. 3. Value Chain Analysis for Global Lactic Acid Market 32

FIG NO. 4. Market Attractiveness Analysis, By Type 33

FIG NO. 5. Market Attractiveness Analysis, By Application 33

FIG NO. 6. Market Attractiveness Analysis, By Raw Material 34

FIG NO. 7. Product Life Cycle Analysis 35

FIG NO. 8. Incremental Revenue Growth Opportunity by Type 36

FIG NO. 9. Incremental Revenue Growth Opportunity by Application 36

FIG NO. 10. Incremental Revenue Growth Opportunity by Raw Material 37

FIG NO. 11. Company Share Analysis, 2020 40

FIG NO. 12. Company Share Analysis, 2022 40

FIG NO. 13. Lactic Acid Market – Company Volume Market Share, 2022 41

FIG NO. 14. Lactic Acid Market – Company Revenue Market Share, 2022 42

FIG NO. 15. Market Position of Key Players, 2022 43

FIG NO. 16. Global Lactic Acid Market Volume Share, By Type, 2022 & 2030 46

FIG NO. 17. Global Lactic Acid Market Revenue Share, By Type, 2022 & 2030 46

FIG NO. 18. Global Lactic Acid Market for D-Lactic Acid, Volume & Revenue (Kilo Tons) (USD Million) 2017 – 2030 47

FIG NO. 19. Global Lactic Acid Market for L-Lactic Acid, Volume & Revenue (Kilo Tons) (USD Million) 2017 – 2030 49

FIG NO. 20. Global Lactic Acid Market for DL-Lactic Acid, Volume & Revenue (Kilo Tons) (USD Million) 2017 – 2030 51

FIG NO. 21. Global Lactic Acid Market for Type 4, Volume & Revenue (Kilo Tons) (USD Million) 2017 – 2030 53

FIG NO. 22. Global Lactic Acid Market for Type 5, Volume & Revenue (Kilo Tons) (USD Million) 2017 – 2030 55

FIG NO. 23. Global Lactic Acid Market Volume Share, By Application, 2022 & 2030 58

FIG NO. 24. Global Lactic Acid Market Revenue Share, By Application, 2022 & 2030 58

FIG NO. 25. Global Lactic Acid Market for Food & Beverages, Volume & Revenue (Kilo Tons) (USD Million) 2017 – 2030 59

FIG NO. 26. Global Lactic Acid Market for Pharmaceuticals, Volume & Revenue (Kilo Tons) (USD Million) 2017 – 2030 61

FIG NO. 27. Global Lactic Acid Market for Personal Care, Volume & Revenue (Kilo Tons) (USD Million) 2017 – 2030 63

FIG NO. 28. Global Lactic Acid Market for Industrial, Volume & Revenue (Kilo Tons) (USD Million) 2017 – 2030 65

FIG NO. 29. Global Lactic Acid Market for Others, Volume & Revenue (Kilo Tons) (USD Million) 2017 – 2030 67

FIG NO. 30. Global Lactic Acid Market Volume Share, By Raw Material, 2022 & 2030 70

FIG NO. 31. Global Lactic Acid Market Revenue Share, By Raw Material, 2022 & 2030 70

FIG NO. 32. Global Lactic Acid Market for Corn, Volume & Revenue (Kilo Tons) (USD Million) 2017 – 2030 71

FIG NO. 33. Global Lactic Acid Market for Sugarcane, Volume & Revenue (Kilo Tons) (USD Million) 2017 – 2030 73

FIG NO. 34. Global Lactic Acid Market for Cassava, Volume & Revenue (Kilo Tons) (USD Million) 2017 – 2030 75

FIG NO. 35. Global Lactic Acid Market for Raw Material 4, Volume & Revenue (Kilo Tons) (USD Million) 2017 – 2030 77

FIG NO. 36. Global Lactic Acid Market for Raw Material 5, Volume & Revenue (Kilo Tons) (USD Million) 2017 – 2030 79

FIG NO. 37. Global Lactic Acid Market Volume Share, By Region, 2022 & 2030 82

FIG NO. 38. Global Lactic Acid Market Revenue Share, By Region, 2022 & 2030 82

FIG NO. 39. North America Lactic Acid Market Volume & Revenue, 2017 – 2022 (Kilo Tons) (USD Million) 91

FIG NO. 40. Europe Lactic Acid Market Volume & Revenue, 2017 – 2022 (Kilo Tons) (USD Million) 100

FIG NO. 41. Asia Pacific Lactic Acid Market Volume & Revenue, 2017 – 2022 (Kilo Tons) (USD Million) 110

FIG NO. 42. Latin America Lactic Acid Market Volume & Revenue, 2017 – 2022 (Kilo Tons) (USD Million) 120

FIG NO. 43. The Middle-East Lactic Acid Market Volume & Revenue, 2017 – 2022 (Kilo Tons) (USD Million) 130

FIG NO. 44. Africa Lactic Acid Market Volume & Revenue, 2017 – 2022 (Kilo Tons) (USD Million) 140

FIG NO. 45. Research Methodology – Detailed View 152

FIG NO. 46. Research Methodology 153

List of Tables

TABLE NO. 1. : Global Lactic Acid Market: Snapshot 24

TABLE NO. 2. : Drivers for the Lactic Acid Market: Impact Analysis 29

TABLE NO. 3. : Restraints for the Lactic Acid Market: Impact Analysis 30

TABLE NO. 4. : Global Lactic Acid Market Import Volume, By Raw Material, 2017 – 2022 (Kilo Tons) 38

TABLE NO. 5. : Global Lactic Acid Market Export Volume, By Raw Material, 2017 – 2022 (Kilo Tons) 38

TABLE NO. 6. : Global Lactic Acid Market Demand Volume, By Raw Material, 2017 – 2022 (Kilo Tons) 39

TABLE NO. 7. : Global Lactic Acid Market Supply Volume, By Raw Material, 2017 – 2022 (Kilo Tons) 39

TABLE NO. 8. : Global D-Lactic Acid Lactic Acid Market Volume, By Region, 2017 – 2022 (Kilo Tons) 47

TABLE NO. 9. : Global D-Lactic Acid Lactic Acid Market Volume, By Region, 2023– 2030 (Kilo Tons) 47

TABLE NO. 10. : Global D-Lactic Acid Lactic Acid Market Revenue, By Region, 2017 – 2022 (USD Million) 48

TABLE NO. 11. : Global D-Lactic Acid Lactic Acid Market Revenue, By Region, 2023– 2030 (USD Million) 48

TABLE NO. 12. : Global L-Lactic Acid Lactic Acid Market Volume, By Region, 2017 – 2022 (Kilo Tons) 49

TABLE NO. 13. : Global L-Lactic Acid Lactic Acid Market Volume, By Region, 2023– 2030 (Kilo Tons) 49

TABLE NO. 14. : Global D-Lactic Acid Lactic Acid Market Revenue, By Region, 2017 – 2022 (USD Million) 50

TABLE NO. 15. : Global D-Lactic Acid Lactic Acid Market Revenue, By Region, 2023– 2030 (USD Million) 50

TABLE NO. 16. : Global DL-Lactic Acid Lactic Acid Market Volume, By Region, 2017 – 2022 (Kilo Tons) 51

TABLE NO. 17. : Global DL-Lactic Acid Lactic Acid Market Volume, By Region, 2023– 2030 (Kilo Tons) 51

TABLE NO. 18. : Global DL-Lactic Acid Lactic Acid Market Revenue, By Region, 2017 – 2022 (USD Million) 52

TABLE NO. 19. : Global DL-Lactic Acid Lactic Acid Market Revenue, By Region, 2023– 2030 (USD Million) 52

TABLE NO. 20. : Global Type 4 Lactic Acid Market Revenue, By Region, 2017 – 2022 (USD Million) 53

TABLE NO. 21. : Global Type 4 Lactic Acid Market Volume, By Region, 2023– 2030 (Kilo Tons) 53

TABLE NO. 22. : Global Type 4 Lactic Acid Market Revenue, By Region, 2017 – 2022 (USD Million) 54

TABLE NO. 23. : Global Type 4 Lactic Acid Market Revenue, By Region, 2023– 2030 (USD Million) 54

TABLE NO. 24. : Global Type 5 Lactic Acid Market Volume, By Region, 2017 – 2022 (Kilo Tons) 55

TABLE NO. 25. : Global Type 5 Lactic Acid Market Volume, By Region, 2023– 2030 (Kilo Tons) 55

TABLE NO. 26. : Global Type 5 Lactic Acid Market Revenue, By Region, 2017 – 2022 (USD Million) 56

TABLE NO. 27. : Global Type 5 Lactic Acid Market Revenue, By Region, 2023– 2030 (USD Million) 56

TABLE NO. 28. : Global Lactic Acid for Food & Beverages Market Volume, By Region, 2017 – 2022 (Kilo Tons) 59

TABLE NO. 29. : Global Lactic Acid for Food & Beverages Market Volume, By Region, 2023– 2030 (Kilo Tons) 59

TABLE NO. 30. : Global Lactic Acid for Food & Beverages Market Revenue, By Region, 2017 – 2022 (USD Million) 60

TABLE NO. 31. : Global Lactic Acid for Food & Beverages Market Revenue, By Region, 2023– 2030 (USD Million) 60

TABLE NO. 32. : Global Lactic Acid for Pharmaceuticals Market Volume, By Region, 2017 – 2022 (Kilo Tons) 61

TABLE NO. 33. : Global Lactic Acid for Pharmaceuticals Market Volume, By Region, 2023– 2030 (Kilo Tons) 61

TABLE NO. 34. : Global Lactic Acid for Pharmaceuticals Market Revenue, By Region, 2017 – 2022 (USD Million) 62

TABLE NO. 35. : Global Lactic Acid for Pharmaceuticals Market Revenue, By Region, 2023– 2030 (USD Million) 62

TABLE NO. 36. : Global Lactic Acid for Personal Care Market Volume, By Region, 2017 – 2022 (Kilo Tons) 63

TABLE NO. 37. : Global Lactic Acid for Personal Care Market Volume, By Region, 2023– 2030 (Kilo Tons) 63

TABLE NO. 38. : Global Lactic Acid for Personal Care Market Revenue, By Region, 2017 – 2022 (USD Million) 64

TABLE NO. 39. : Global Lactic Acid for Personal Care Market Revenue, By Region, 2023– 2030 (USD Million) 64

TABLE NO. 40. : Global Lactic Acid for Industrial Market Volume, By Region, 2017 – 2022 (Kilo Tons) 65

TABLE NO. 41. : Global Lactic Acid for Industrial Market Volume, By Region, 2023– 2030 (Kilo Tons) 65

TABLE NO. 42. : Global Lactic Acid for Industrial Market Revenue, By Region, 2017 – 2022 (USD Million) 66

TABLE NO. 43. : Global Lactic Acid for Industrial Market Revenue, By Region, 2023– 2030 (USD Million) 66

TABLE NO. 44. : Global Lactic Acid for Others Market Volume, By Region, 2017 – 2022 (Kilo Tons) 67

TABLE NO. 45. : Global Lactic Acid for Others Market Volume, By Region, 2023– 2030 (Kilo Tons) 67

TABLE NO. 46. : Global Lactic Acid for Others Market Revenue, By Region, 2017 – 2022 (USD Million) 68

TABLE NO. 47. : Global Lactic Acid for Others Market Revenue, By Region, 2023– 2030 (USD Million) 68

TABLE NO. 48. : Global Corn Lactic Acid Market Volume, By Region, 2017 – 2022 (Kilo Tons) 71

TABLE NO. 49. : Global Corn Lactic Acid Market Volume, By Region, 2023– 2030 (Kilo Tons) 71

TABLE NO. 50. : Global Corn Lactic Acid Market Revenue, By Region, 2017 – 2022 (USD Million) 72

TABLE NO. 51. : Global Corn Lactic Acid Market Revenue, By Region, 2023– 2030 (USD Million) 72

TABLE NO. 52. : Global Sugarcane Lactic Acid Market Volume, By Region, 2017 – 2022 (Kilo Tons) 73

TABLE NO. 53. : Global Sugarcane Lactic Acid Market Volume, By Region, 2023– 2030 (Kilo Tons) 73

TABLE NO. 54. : Global Sugarcane Lactic Acid Market Revenue, By Region, 2017 – 2022 (USD Million) 74

TABLE NO. 55. : Global Sugarcane Lactic Acid Market Revenue, By Region, 2023– 2030 (USD Million) 74

TABLE NO. 56. : Global Cassava Lactic Acid Market Volume, By Region, 2017 – 2022 (Kilo Tons) 75

TABLE NO. 57. : Global Cassava Lactic Acid Market Volume, By Region, 2023– 2030 (Kilo Tons) 75

TABLE NO. 58. : Global Cassava Lactic Acid Market Revenue, By Region, 2017 – 2022 (USD Million) 76

TABLE NO. 59. : Global Cassava Lactic Acid Market Revenue, By Region, 2023– 2030 (USD Million) 76

TABLE NO. 60. : Global Raw Material 4 Lactic Acid Market Volume, By Region, 2017 – 2022 (Kilo Tons) 77

TABLE NO. 61. : Global Raw Material 4 Lactic Acid Market Volume, By Region, 2023– 2030 (Kilo Tons) 77

TABLE NO. 62. : Global Raw Material 4 Lactic Acid Market Revenue, By Region, 2017 – 2022 (USD Million) 78

TABLE NO. 63. : Global Raw Material 4 Lactic Acid Market Revenue, By Region, 2023– 2030 (USD Million) 78

TABLE NO. 64. : Global Raw Material 5 Lactic Acid Market Volume, By Region, 2017 – 2022 (Kilo Tons) 79

TABLE NO. 65. : Global Raw Material 5 Lactic Acid Market Volume, By Region, 2023– 2030 (Kilo Tons) 79

TABLE NO. 66. : Global Raw Material 5 Lactic Acid Market Revenue, By Region, 2017 – 2022 (USD Million) 80

TABLE NO. 67. : Global Raw Material 5 Lactic Acid Market Revenue, By Region, 2023– 2030 (USD Million) 80

TABLE NO. 68. : Global Lactic Acid Market Volume, By Region, 2017 – 2022 (Kilo Tons) 83

TABLE NO. 69. : Global Lactic Acid Market Volume, By Region, 2023– 2030 (Kilo Tons) 83

TABLE NO. 70. : Global Lactic Acid Market Revenue, By Region, 2017 – 2022 (USD Million) 84

TABLE NO. 71. : Global Lactic Acid Market Revenue, By Region, 2023– 2030 (USD Million) 84

TABLE NO. 72. : Global Lactic Acid Market Volume, By Type, 2017 – 2022 (Kilo Tons) 85

TABLE NO. 73. : Global Lactic Acid Market Volume, By Type, 2023– 2030 (Kilo Tons) 85

TABLE NO. 74. : Global Lactic Acid Market Revenue, By Type, 2017 – 2022 (USD Million) 86

TABLE NO. 75. : Global Lactic Acid Market Revenue, By Type, 2023– 2030 (USD Million) 86

TABLE NO. 76. : Global Lactic Acid Market Volume, By Application, 2017 – 2022 (Kilo Tons) 87

TABLE NO. 77. : Global Lactic Acid Market Volume, By Application, 2023– 2030 (Kilo Tons) 87

TABLE NO. 78. : Global Lactic Acid Market Revenue, By Application, 2017 – 2022 (USD Million) 88

TABLE NO. 79. : Global Lactic Acid Market Revenue, By Application, 2023– 2030 (USD Million) 88

TABLE NO. 80. : Global Lactic Acid Market Volume, By Raw Material, 2017 – 2022 (Kilo Tons) 89

TABLE NO. 81. : Global Lactic Acid Market Volume, By Raw Material, 2023– 2030 (Kilo Tons) 89

TABLE NO. 82. : Global Lactic Acid Market Revenue, By Raw Material, 2017 – 2022 (USD Million) 90

TABLE NO. 83. : Global Lactic Acid Market Revenue, By Raw Material, 2023– 2030 (USD Million) 90

TABLE NO. 84. : North America Lactic Acid Market Volume, By Country, 2017 – 2022 (Kilo Tons) 92

TABLE NO. 85. : North America Lactic Acid Market Volume, By Country, 2023– 2030 (Kilo Tons) 92

TABLE NO. 86. : North America Lactic Acid Market Revenue, By Country, 2017 – 2022 (USD Million) 92

TABLE NO. 87. : North America Lactic Acid Market Revenue, By Country, 2023– 2030 (USD Million) 92

TABLE NO. 88. : North America Lactic Acid Market Volume, By Type, 2017 – 2022 (Kilo Tons) 93

TABLE NO. 89. : North America Lactic Acid Market Volume, By Type, 2023– 2030 (Kilo Tons) 93

TABLE NO. 90. : North America Lactic Acid Market Revenue, By Type, 2017 – 2022 (USD Million) 94

TABLE NO. 91. : North America Lactic Acid Market Revenue, By Type, 2023– 2030 (USD Million) 94

TABLE NO. 92. : North America Lactic Acid Market Volume, By Application, 2017 – 2022 (Kilo Tons) 95

TABLE NO. 93. : North America Lactic Acid Market Volume, By Application, 2023– 2030 (Kilo Tons) 95

TABLE NO. 94. : North America Lactic Acid Market Revenue, By Application, 2017 – 2022 (USD Million) 96

TABLE NO. 95. : North America Lactic Acid Market Revenue, By Application, 2023– 2030 (USD Million) 96

TABLE NO. 96. : North America Lactic Acid Market Volume, By Raw Material, 2017 – 2022 (Kilo Tons) 97

TABLE NO. 97. : North America Lactic Acid Market Volume, By Raw Material, 2023– 2030 (Kilo Tons) 97

TABLE NO. 98. : North America Lactic Acid Market Revenue, By Raw Material, 2017 – 2022 (USD Million) 98

TABLE NO. 99. : North America Lactic Acid Market Revenue, By Raw Material, 2023– 2030 (USD Million) 98

TABLE NO. 100. : Europe Lactic Acid Market Volume, By Country, 2017 – 2022 (Kilo Tons) 101

TABLE NO. 101. : Europe Lactic Acid Market Volume, By Country, 2023– 2030 (Kilo Tons) 101

TABLE NO. 102. : Europe Lactic Acid Market Revenue, By Country, 2017 – 2022 (USD Million) 102

TABLE NO. 103. : Europe Lactic Acid Market Revenue, By Country, 2023– 2030 (USD Million) 102

TABLE NO. 104. : Europe Lactic Acid Market Volume, By Type, 2017 – 2022 (Kilo Tons) 103

TABLE NO. 105. : Europe Lactic Acid Market Volume, By Type, 2023– 2030 (Kilo Tons) 103

TABLE NO. 106. : Europe Lactic Acid Market Revenue, By Type, 2017 – 2022 (USD Million) 104

TABLE NO. 107. : Europe Lactic Acid Market Revenue, By Type, 2023– 2030 (USD Million) 104

TABLE NO. 108. : Europe Lactic Acid Market Volume, By Application, 2017 – 2022 (Kilo Tons) 105

TABLE NO. 109. : Europe Lactic Acid Market Volume, By Application, 2023– 2030 (Kilo Tons) 105

TABLE NO. 110. : Europe Lactic Acid Market Revenue, By Application, 2017 – 2022 (USD Million) 106

TABLE NO. 111. : Europe Lactic Acid Market Revenue, By Application, 2023– 2030 (USD Million) 106

TABLE NO. 112. : Europe Lactic Acid Market Volume, By Raw Material, 2017 – 2022 (Kilo Tons) 107

TABLE NO. 113. : Europe Lactic Acid Market Volume, By Raw Material, 2023– 2030 (Kilo Tons) 107

TABLE NO. 114. : Europe Lactic Acid Market Revenue, By Raw Material, 2017 – 2022 (USD Million) 108

TABLE NO. 115. : Europe Lactic Acid Market Revenue, By Raw Material, 2023– 2030 (USD Million) 108

TABLE NO. 116. : Asia Pacific Lactic Acid Market Volume, By Country, 2017 – 2022 (Kilo Tons) 111

TABLE NO. 117. : Asia Pacific Lactic Acid Market Volume, By Country, 2023– 2030 (Kilo Tons) 111

TABLE NO. 118. : Asia Pacific Lactic Acid Market Revenue, By Country, 2017 – 2022 (USD Million) 112

TABLE NO. 119. : Asia Pacific Lactic Acid Market Revenue, By Country, 2023– 2030 (USD Million) 112

TABLE NO. 120. : Asia Pacific Lactic Acid Market Volume, By Type, 2017 – 2022 (Kilo Tons) 113

TABLE NO. 121. : Asia Pacific Lactic Acid Market Volume, By Type, 2023– 2030 (Kilo Tons) 113

TABLE NO. 122. : Asia Pacific Lactic Acid Market Revenue, By Type, 2017 – 2022 (USD Million) 114

TABLE NO. 123. : Asia Pacific Lactic Acid Market Revenue, By Type, 2023– 2030 (USD Million) 114

TABLE NO. 124. : Asia Pacific Lactic Acid Market Volume, By Application, 2017 – 2022 (Kilo Tons) 115

TABLE NO. 125. : Asia Pacific Lactic Acid Market Volume, By Application, 2023– 2030 (Kilo Tons) 115

TABLE NO. 126. : Asia Pacific Lactic Acid Market Revenue, By Application, 2017 – 2022 (USD Million) 116

TABLE NO. 127. : Asia Pacific Lactic Acid Market Revenue, By Application, 2023– 2030 (USD Million) 116

TABLE NO. 128. : Asia Pacific Lactic Acid Market Volume, By Raw Material, 2017 – 2022 (Kilo Tons) 117

TABLE NO. 129. : Asia Pacific Lactic Acid Market Volume, By Raw Material, 2023– 2030 (Kilo Tons) 117

TABLE NO. 130. : Asia Pacific Lactic Acid Market Revenue, By Raw Material, 2017 – 2022 (USD Million) 118

TABLE NO. 131. : Asia Pacific Lactic Acid Market Revenue, By Raw Material, 2023– 2030 (USD Million) 118

TABLE NO. 132. : Latin America Lactic Acid Market Volume, By Country, 2017 – 2022 (Kilo Tons) 121

TABLE NO. 133. : Latin America Lactic Acid Market Volume, By Country, 2023– 2030 (Kilo Tons) 121

TABLE NO. 134. : Latin America Lactic Acid Market Revenue, By Country, 2017 – 2022 (USD Million) 122

TABLE NO. 135. : Latin America Lactic Acid Market Revenue, By Country, 2023– 2030 (USD Million) 122

TABLE NO. 136. : Latin America Lactic Acid Market Volume, By Type, 2017 – 2022 (Kilo Tons) 123

TABLE NO. 137. : Latin America Lactic Acid Market Volume, By Type, 2023– 2030 (Kilo Tons) 123

TABLE NO. 138. : Latin America Lactic Acid Market Revenue, By Type, 2017 – 2022 (USD Million) 124

TABLE NO. 139. : Latin America Lactic Acid Market Revenue, By Type, 2023– 2030 (USD Million) 124

TABLE NO. 140. : Latin America Lactic Acid Market Volume, By Application, 2017 – 2022 (Kilo Tons) 125

TABLE NO. 141. : Latin America Lactic Acid Market Volume, By Application, 2023– 2030 (Kilo Tons) 125

TABLE NO. 142. : Latin America Lactic Acid Market Revenue, By Application, 2017 – 2022 (USD Million) 126

TABLE NO. 143. : Latin America Lactic Acid Market Revenue, By Application, 2023– 2030 (USD Million) 126

TABLE NO. 144. : Latin America Lactic Acid Market Volume, By Raw Material, 2017 – 2022 (Kilo Tons) 127

TABLE NO. 145. : Latin America Lactic Acid Market Volume, By Raw Material, 2023– 2030 (Kilo Tons) 127

TABLE NO. 146. : Latin America Lactic Acid Market Revenue, By Raw Material, 2017 – 2022 (USD Million) 128

TABLE NO. 147. : Latin America Lactic Acid Market Revenue, By Raw Material, 2023– 2030 (USD Million) 128

TABLE NO. 148. : Middle East Lactic Acid Market Volume, By Country, 2017 – 2022 (Kilo Tons) 131

TABLE NO. 149. : Middle East Lactic Acid Market Volume, By Country, 2023– 2030 (Kilo Tons) 131

TABLE NO. 150. : Middle East Lactic Acid Market Revenue, By Country, 2017 – 2022 (USD Million) 132

TABLE NO. 151. : Middle East Lactic Acid Market Revenue, By Country, 2023– 2030 (USD Million) 132

TABLE NO. 152. : Middle East Lactic Acid Market Volume, By Type, 2017 – 2022 (Kilo Tons) 133

TABLE NO. 153. : Middle East Lactic Acid Market Volume, By Type, 2023– 2030 (Kilo Tons) 133

TABLE NO. 154. : Middle East Lactic Acid Market Revenue, By Type, 2017 – 2022 (USD Million) 134

TABLE NO. 155. : Middle East Lactic Acid Market Revenue, By Type, 2023– 2030 (USD Million) 134

TABLE NO. 156. : Middle East Lactic Acid Market Volume, By Application, 2017 – 2022 (Kilo Tons) 135

TABLE NO. 157. : Middle East Lactic Acid Market Volume, By Application, 2023– 2030 (Kilo Tons) 135

TABLE NO. 158. : Middle East Lactic Acid Market Revenue, By Application, 2017 – 2022 (USD Million) 136

TABLE NO. 159. : Middle East Lactic Acid Market Revenue, By Application, 2023– 2030 (USD Million) 136

TABLE NO. 160. : Middle East Lactic Acid Market Volume, By Raw Material, 2017 – 2022 (Kilo Tons) 137

TABLE NO. 161. : Middle East Lactic Acid Market Volume, By Raw Material, 2023– 2030 (Kilo Tons) 137

TABLE NO. 162. : Middle East Lactic Acid Market Revenue, By Raw Material, 2017 – 2022 (USD Million) 138

TABLE NO. 163. : Middle East Lactic Acid Market Revenue, By Raw Material, 2023– 2030 (USD Million) 138

TABLE NO. 164. : Africa Lactic Acid Market Volume, By Country, 2017 – 2022 (Kilo Tons) 141

TABLE NO. 165. : Africa Lactic Acid Market Volume, By Country, 2023– 2030 (Kilo Tons) 141

TABLE NO. 166. : Africa Lactic Acid Market Revenue, By Country, 2017 – 2022 (USD Million) 142

TABLE NO. 167. : Africa Lactic Acid Market Revenue, By Country, 2023– 2030 (USD Million) 142

TABLE NO. 168. : Africa Lactic Acid Market Volume, By Type, 2017 – 2022 (Kilo Tons) 143

TABLE NO. 169. : Africa Lactic Acid Market Volume, By Type, 2023– 2030 (Kilo Tons) 143

TABLE NO. 170. : Africa Lactic Acid Market Revenue, By Type, 2017 – 2022 (USD Million) 144

TABLE NO. 171. : Africa Lactic Acid Market Revenue, By Type, 2023– 2030 (USD Million) 144

TABLE NO. 172. : Africa Lactic Acid Market Volume, By Application, 2017 – 2022 (Kilo Tons) 145

TABLE NO. 173. : Africa Lactic Acid Market Volume, By Application, 2023– 2030 (Kilo Tons) 145

TABLE NO. 174. : Africa Lactic Acid Market Revenue, By Application, 2017 – 2022 (USD Million) 146

TABLE NO. 175. : Africa Lactic Acid Market Revenue, By Application, 2023– 2030 (USD Million) 146

TABLE NO. 176. : Africa Lactic Acid Market Volume, By Raw Material, 2017 – 2022 (Kilo Tons) 147

TABLE NO. 177. : Africa Lactic Acid Market Volume, By Raw Material, 2023– 2030 (Kilo Tons) 147

TABLE NO. 178. : Africa Lactic Acid Market Revenue, By Raw Material, 2017 – 2022 (USD Million) 148

TABLE NO. 179. : Africa Lactic Acid Market Revenue, By Raw Material, 2023– 2030 (USD Million) 148

Frequently Asked Questions :

What is the lactic acid market?

The lactic acid market refers to the global industry’s concerns about generating, distributing, and promoting lactic acid. Lactic acid is a naturally happening organic acid produced during fermentation through numerous microorganisms. It has several applications across various industries, such as food and beverages, prescription drugs, non-public care merchandise, and bioplastics.

What are the most important elements driving the growth in the lactic acid marketplace?

Several factors contribute to the lactic acid marketplace growth. Firstly, there is an increasing demand for lactic acid in the foods and beverage enterprise as a food additive, preservative, and flavoring agent. Additionally, the growing reputation of eco-friendly and biodegradable products fuels the demand for lactic acid in bioplastics and personal care products. Moreover, technological developments and cost-effective production methods have similarly propelled marketplace growth.

What are the different forms of lactic acid available inside the market?

The lactic acid marketplace offers two foremost kinds of lactic acid: L(+) lactic acid and D(-) lactic acid. L(+) lactic acid is a naturally occurring form typically utilized in food and beverage programs. D(-) lactic acid is produced through fermentation methods and finds applications in numerous industries, which include pharmaceuticals, personal care products, and biodegradable polymers.

Which industries are the major consumers of lactic acid?

Lactic acid has great utilization in several industries. The food and beverage industry is a big customer, using lactic acid as a preservative, taste enhancer, and acidity regulator. The pharmaceutical industry utilizes lactic acid in drug formulations, while the personal care industry uses it in cosmetics, creams, and lotions. Additionally, the bioplastics industry uses lactic acid to produce biodegradable polymers.

What are the key regions driving the lactic acid marketplace?

The lactic acid marketplace has a worldwide presence, with several regions contributing to its boom. Asia Pacific holds a full-size market percentage due to foremost manufacturing hubs in international locations like China, India, and Japan. Europe and North America also have substantial marketplace shares due to the rising demand for green products. Furthermore, increasing focus on sustainable practices in Latin America and the Middle East drives market growth in these regions.

What are the challenges confronted via the lactic acid market?

Despite its growth prospects, the lactic acid marketplace faces challenges. One extensive challenge is the excessive manufacturing cost of lactic acid compared to other acids, which may restrict its adoption in a few industries. Additionally, raw materials availability and value, including sugar-based total feedstocks, can impact the general manufacturing cost. Moreover, strict regulatory guidelines and the desire to adhere to safety standards pose challenges for marketplace players.

How does the lactic acid marketplace make contributions to sustainability?

The lactic acid marketplace plays a critical function in promoting sustainability. Lactic acid is a renewable resource that can be produced through the fermentation of renewable feedstocks, which include sugarcane or corn. It is also biodegradable and non-toxic, making it a green alternative to standard petrochemical-based acids. By replacing harmful chemicals in diverse industries, lactic acid helps lessen environmental impact and helps the shift toward a more sustainable future.

What are the current trends inside the lactic acid marketplace?

Some notable trends in the lactic acid market consist of the growing use of lactic acid as a green solvent in cleaning merchandise and the development of new applications within the healthcare region, which includes drug transport structures. Additionally, there is a growing focus on research and development to improve the efficiency and cost-effectiveness of lactic acid manufacturing techniques. The market is also witnessing strategic collaborations and partnerships between key players to enlarge their product portfolios and geographical presence.

What are the major corporations operating within the lactic acid market?

The lactic acid market is noticeably competitive and consists of several major organizations. Some key players in the marketplace include Corbion N.V., Galactic S.A., Jungbunzlauer Suisse AG, NatureWorks LLC, and Henan Jindan Lactic Acid Technology Co., Ltd. These companies are actively involved with research and development activities, product innovation, and strategic partnerships to strengthen their market position.

What is the future outlook for the lactic acid marketplace?

The future of the lactic acid marketplace appears promising, driven by increasing customer demand for eco-friendly merchandise and sustainable manufacturing tactics. The market is anticipated to develop drastically within the food and beverage, personal care, and pharmaceutical industries. Technological advancements and ongoing research and development activities are likely to enhance manufacturing performance and decrease costs, fueling marketplace expansion. Additionally, the increasing geographical presence of key marketplace players and the emergence of recent applications will contribute to the general growth of the lactic acid marketplace.

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