The lactic acid market would grow at a CAGR of 8.91% over the predicted time frame. The market is expected to increase in value from US$ 3.49 Bn in 2022 to US$ 6.9 Bn in 2030.
Key Takeaways:
- By raw material, U.S. lactic acid market was valued at USD 1.25 billion in 2021
- By raw material, the sugarcane segment garnered largest revenue share 40% in 2021
- The corn raw material segment is projected to grow at a CAGR of 8.2% from 2022 to 2030
- By application, the polylactic acid segment accounted 29% market share in 2021
- North America region accounted 45% revenue share in 2021
- In 2021, Asia Pacific region accounted 19% revenue share in 2021
The on lactic acid Market, which provides a business strategy, research & development activities, concise outline of the market valuation, valuable insights pertaining to market share, size, supply chain analysis, competitive landscape and regional proliferation of this industry.
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Report Scope of the Lactic Acid Market
| Report Coverage | Details |
| Market Size by 2030 | USD 6.9 Billion |
| Growth Rate from 2022 to 2030 | CAGR of 8.91% |
| North America Market Share in 2021 | 45% |
| Sugarcane Segment Market Share in 2021 | 68% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Raw Material, Application, Form, Source, End-User, Geography |
A recent report provides crucial insights along with application based and forecast information in the Global Lactic acid Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of this market. This study also provides a detailed overview of the opportunities along with the current trends observed in the Lactic acid market.
A quantitative analysis of the industry is compiled for a period of 10 years in order to assist players to grow in the market. Insights on specific revenue figures generated are also given in the report, along with projected revenue at the end of the forecast period.
Companies and Manufacturers Covered
The study covers key players operating in the market along with prime schemes and strategies implemented by each player to hold high positions in the industry. Such a tough vendor landscape provides a competitive outlook of the industry, consequently existing as a key insight. These insights were thoroughly analysed and prime business strategies and products that offer high revenue generation capacities were identified. Key players of the global Lactic acid market are included as given below:
Lactic acid Market Key Players
- Corbion (Netherlands)
- DuPont (US)
- Henan Jindan Lacic Acid Technology (China)
- Sulzer (Switzerland)
- Mushashino Chemical (Japan)
- Jungbunzlauer (Switzerland)
- FoodChem International (China)
- Cargill (US)
- Galactic (Belgium)
- DOW (US)
- Unitika (Japan)
- Vaishnavi Biotech (India)
- Spectrum Chemicals (US)
- Godavari Bio-refineries (India)
- ProAgro GmbH (Austria)
- Qingdao Abel Technology (US)
- Vigon International (US)
- Henan Xinghan Biology Technology (China)
- Danimer Scientific (US)
- COFCO BioChemical (China)
Market Segments
By Raw Material
- Corn
- Sugar Cane
- Cassava
- Other Crops
By Application
- Poly lactic acid
- Pharmaceuticals
- Personal care
- Food and beverages
- Industrial
- Others
By Form
- Liquid
- Form
By Source
- Natural
- Synthetic
By End-User
- Packaging
- Textile
- Electronics
- Automotive
- Biomedical
- Other
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa
Report Objectives
- To define, describe, and forecast the global lactic acid market based on product, and region
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, opportunities, and industry-specific challenges)
- To strategically analyze micromarkets1 with respect to individual growth trends, future prospects, and contributions to the total market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of market segments with respect to four main regions—North America, Europe, Asia Pacific and the Rest of the World (RoW)2
- To strategically profile key players and comprehensively analyze their product portfolios, market shares, and core competencies3
- To track and analyze competitive developments such as acquisitions, expansions, new product launches, and partnerships in the lactic acid market
Table of Content
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Lactic Acid Market
5.1. COVID-19 Landscape: Lactic Acid Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Lactic Acid Market, By Raw Material
8.1. Lactic Acid Market, by Raw Material, 2022-2030
8.1.1. Corn
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Sugar Cane
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Cassava
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Other Crops
8.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Lactic Acid Market, By Application
9.1. Lactic Acid Market, by Application, 2022-2030
9.1.1. Poly lactic acid
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Pharmaceuticals
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Personal care
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Food and beverages
9.1.4.1. Market Revenue and Forecast (2017-2030)
9.1.5. Industrial
9.1.5.1. Market Revenue and Forecast (2017-2030)
9.1.6. Others
9.1.6.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Lactic Acid Market, By Form
10.1. Lactic Acid Market, by Form, 2022-2030
10.1.1. Liquid
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Form
10.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Lactic Acid Market, By Source
11.1. Lactic Acid Market, by Source, 2022-2030
11.1.1. Natural
11.1.1.1. Market Revenue and Forecast (2017-2030)
11.1.2. Synthetic
11.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 12. Global Lactic Acid Market, By End-User
12.1. Lactic Acid Market, by End-User, 2022-2030
12.1.1. Packaging
12.1.1.1. Market Revenue and Forecast (2017-2030)
12.1.2. Textile
12.1.2.1. Market Revenue and Forecast (2017-2030)
12.1.3. Electronics
12.1.3.1. Market Revenue and Forecast (2017-2030)
12.1.4. Automotive
12.1.4.1. Market Revenue and Forecast (2017-2030)
12.1.5. Biomedical
12.1.5.1. Market Revenue and Forecast (2017-2030)
12.1.6. Other
12.1.6.1. Market Revenue and Forecast (2017-2030)
Chapter 13. Global Lactic Acid Market, Regional Estimates and Trend Forecast
13.1. North America
13.1.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.1.2. Market Revenue and Forecast, by Application (2017-2030)
13.1.3. Market Revenue and Forecast, by Form (2017-2030)
13.1.4. Market Revenue and Forecast, by Source (2017-2030)
13.1.5. Market Revenue and Forecast, by End-User (2017-2030)
13.1.6. U.S.
13.1.6.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.1.6.2. Market Revenue and Forecast, by Application (2017-2030)
13.1.6.3. Market Revenue and Forecast, by Form (2017-2030)
13.1.6.4. Market Revenue and Forecast, by Source (2017-2030)
13.1.7. Market Revenue and Forecast, by End-User (2017-2030)
13.1.8. Rest of North America
13.1.8.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.1.8.2. Market Revenue and Forecast, by Application (2017-2030)
13.1.8.3. Market Revenue and Forecast, by Form (2017-2030)
13.1.8.4. Market Revenue and Forecast, by Source (2017-2030)
13.1.8.5. Market Revenue and Forecast, by End-User (2017-2030)
13.2. Europe
13.2.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.2.2. Market Revenue and Forecast, by Application (2017-2030)
13.2.3. Market Revenue and Forecast, by Form (2017-2030)
13.2.4. Market Revenue and Forecast, by Source (2017-2030)
13.2.5. Market Revenue and Forecast, by End-User (2017-2030)
13.2.6. UK
13.2.6.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
13.2.6.3. Market Revenue and Forecast, by Form (2017-2030)
13.2.7. Market Revenue and Forecast, by Source (2017-2030)
13.2.8. Market Revenue and Forecast, by End-User (2017-2030)
13.2.9. Germany
13.2.9.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.2.9.2. Market Revenue and Forecast, by Application (2017-2030)
13.2.9.3. Market Revenue and Forecast, by Form (2017-2030)
13.2.10. Market Revenue and Forecast, by Source (2017-2030)
13.2.11. Market Revenue and Forecast, by End-User (2017-2030)
13.2.12. France
13.2.12.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.2.12.2. Market Revenue and Forecast, by Application (2017-2030)
13.2.12.3. Market Revenue and Forecast, by Form (2017-2030)
13.2.12.4. Market Revenue and Forecast, by Source (2017-2030)
13.2.13. Market Revenue and Forecast, by End-User (2017-2030)
13.2.14. Rest of Europe
13.2.14.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.2.14.2. Market Revenue and Forecast, by Application (2017-2030)
13.2.14.3. Market Revenue and Forecast, by Form (2017-2030)
13.2.14.4. Market Revenue and Forecast, by Source (2017-2030)
13.2.15. Market Revenue and Forecast, by End-User (2017-2030)
13.3. APAC
13.3.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.3.2. Market Revenue and Forecast, by Application (2017-2030)
13.3.3. Market Revenue and Forecast, by Form (2017-2030)
13.3.4. Market Revenue and Forecast, by Source (2017-2030)
13.3.5. Market Revenue and Forecast, by End-User (2017-2030)
13.3.6. India
13.3.6.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
13.3.6.3. Market Revenue and Forecast, by Form (2017-2030)
13.3.6.4. Market Revenue and Forecast, by Source (2017-2030)
13.3.7. Market Revenue and Forecast, by End-User (2017-2030)
13.3.8. China
13.3.8.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.3.8.2. Market Revenue and Forecast, by Application (2017-2030)
13.3.8.3. Market Revenue and Forecast, by Form (2017-2030)
13.3.8.4. Market Revenue and Forecast, by Source (2017-2030)
13.3.9. Market Revenue and Forecast, by End-User (2017-2030)
13.3.10. Japan
13.3.10.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.3.10.2. Market Revenue and Forecast, by Application (2017-2030)
13.3.10.3. Market Revenue and Forecast, by Form (2017-2030)
13.3.10.4. Market Revenue and Forecast, by Source (2017-2030)
13.3.10.5. Market Revenue and Forecast, by End-User (2017-2030)
13.3.11. Rest of APAC
13.3.11.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.3.11.2. Market Revenue and Forecast, by Application (2017-2030)
13.3.11.3. Market Revenue and Forecast, by Form (2017-2030)
13.3.11.4. Market Revenue and Forecast, by Source (2017-2030)
13.3.11.5. Market Revenue and Forecast, by End-User (2017-2030)
13.4. MEA
13.4.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.4.2. Market Revenue and Forecast, by Application (2017-2030)
13.4.3. Market Revenue and Forecast, by Form (2017-2030)
13.4.4. Market Revenue and Forecast, by Source (2017-2030)
13.4.5. Market Revenue and Forecast, by End-User (2017-2030)
13.4.6. GCC
13.4.6.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
13.4.6.3. Market Revenue and Forecast, by Form (2017-2030)
13.4.6.4. Market Revenue and Forecast, by Source (2017-2030)
13.4.7. Market Revenue and Forecast, by End-User (2017-2030)
13.4.8. North Africa
13.4.8.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.4.8.2. Market Revenue and Forecast, by Application (2017-2030)
13.4.8.3. Market Revenue and Forecast, by Form (2017-2030)
13.4.8.4. Market Revenue and Forecast, by Source (2017-2030)
13.4.9. Market Revenue and Forecast, by End-User (2017-2030)
13.4.10. South Africa
13.4.10.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.4.10.2. Market Revenue and Forecast, by Application (2017-2030)
13.4.10.3. Market Revenue and Forecast, by Form (2017-2030)
13.4.10.4. Market Revenue and Forecast, by Source (2017-2030)
13.4.10.5. Market Revenue and Forecast, by End-User (2017-2030)
13.4.11. Rest of MEA
13.4.11.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.4.11.2. Market Revenue and Forecast, by Application (2017-2030)
13.4.11.3. Market Revenue and Forecast, by Form (2017-2030)
13.4.11.4. Market Revenue and Forecast, by Source (2017-2030)
13.4.11.5. Market Revenue and Forecast, by End-User (2017-2030)
13.5. Latin America
13.5.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.5.2. Market Revenue and Forecast, by Application (2017-2030)
13.5.3. Market Revenue and Forecast, by Form (2017-2030)
13.5.4. Market Revenue and Forecast, by Source (2017-2030)
13.5.5. Market Revenue and Forecast, by End-User (2017-2030)
13.5.6. Brazil
13.5.6.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.5.6.2. Market Revenue and Forecast, by Application (2017-2030)
13.5.6.3. Market Revenue and Forecast, by Form (2017-2030)
13.5.6.4. Market Revenue and Forecast, by Source (2017-2030)
13.5.7. Market Revenue and Forecast, by End-User (2017-2030)
13.5.8. Rest of LATAM
13.5.8.1. Market Revenue and Forecast, by Raw Material (2017-2030)
13.5.8.2. Market Revenue and Forecast, by Application (2017-2030)
13.5.8.3. Market Revenue and Forecast, by Form (2017-2030)
13.5.8.4. Market Revenue and Forecast, by Source (2017-2030)
13.5.8.5. Market Revenue and Forecast, by End-User (2017-2030)
Chapter 14. Company Profiles
14.1. Corbion
14.1.1. Company Overview
14.1.2. Product Offerings
14.1.3. Financial Performance
14.1.4. Recent Initiatives
14.2. DuPont
14.2.1. Company Overview
14.2.2. Product Offerings
14.2.3. Financial Performance
14.2.4. Recent Initiatives
14.3. Henan Jindan Lacic Acid Technology
14.3.1. Company Overview
14.3.2. Product Offerings
14.3.3. Financial Performance
14.3.4. Recent Initiatives
14.4. Sulzer
14.4.1. Company Overview
14.4.2. Product Offerings
14.4.3. Financial Performance
14.4.4. Recent Initiatives
14.5. Mushashino Chemical
14.5.1. Company Overview
14.5.2. Product Offerings
14.5.3. Financial Performance
14.5.4. Recent Initiatives
14.6. Jungbunzlauer
14.6.1. Company Overview
14.6.2. Product Offerings
14.6.3. Financial Performance
14.6.4. Recent Initiatives
14.7. FoodChem International
14.7.1. Company Overview
14.7.2. Product Offerings
14.7.3. Financial Performance
14.7.4. Recent Initiatives
14.8. Cargill
14.8.1. Company Overview
14.8.2. Product Offerings
14.8.3. Financial Performance
14.8.4. Recent Initiatives
14.9. Galactic
14.9.1. Company Overview
14.9.2. Product Offerings
14.9.3. Financial Performance
14.9.4. Recent Initiatives
14.10. DOW
14.10.1. Company Overview
14.10.2. Product Offerings
14.10.3. Financial Performance
14.10.4. Recent Initiatives
Chapter 15. Research Methodology
15.1. Primary Research
15.2. Secondary Research
15.3. Assumptions
Chapter 16. Appendix
16.1. About Us
16.2. Glossary of Terms
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