Lactic Acid Market Scope And Analysis

Report Code : TIPRE00012110
Category : Chemicals and Materials

No. of Pages : 150

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Lactic Acid Market Analysis and Scope (2023 to 2031)

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Lactic Acid Market Report Scope

Report Attribute	Details
Market size in 2023	US$ 1.48 Billion
Market Size by 2031	US$ 3.09 Billion
Global CAGR (2023 - 2031)	9.6%
Historical Data	2021-2022
Forecast period	2023-2031
Segments Covered	By Form Dry Liquid By Application Food & Beverages Pharmaceuticals Personal Care
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Corbion Cargill Inc Foodchem International Corporation Galactic Henan Xinghan Biotechnology Musashino Chemical Laboratory Ltd Shandong Baisheng Biotechnology Co Ltd Jungbunzlauer Suisse AG Henan Jindan Lactic Acid Technology Co Ltd Vigon International Inc

Lactic Acid Market News and Recent Developments

The lactic acid market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion and strategies:

In August, 2022, LG Chem and ADM announced two joint ventures for the US production of lactic acid and polylactic acid, in order to cater growing demand for a wide variety of plant-based products, including bioplastics. The targeted annual production by two joint ventures was 150,000 tons of lactic acid and 75,000 tons of polylactic acid. (Source: ADM, Press Release)
In March, 2021, Corbion planned to boost lactic acid capacity through concurrent expansion projects. These productivity initiatives will increase supply of lactic acid, a nature-based ingredient, for the company's customers in Europe and other regions. (Source: Corbion, Press Release)

Lactic Acid Market Report Coverage and Deliverables

The “Lactic Acid Market Size and Forecast (2023–2031)” report provides a detailed analysis of the market covering below areas:

Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
Market dynamics such as drivers, restraints, and key opportunities
Key future trends
Detailed PEST/Porter’s Five Forces and SWOT analysis
Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
Detailed company profiles