Report Description

Global Lactic Acid Market By Raw Material (Sugarcane, Corn, Cassava & Others), By Application (Industrial, Food & Beverages, Pharmaceuticals, Personal Care, Polylactic Acid & Others), By Region, Competition, Forecast & Opportunities, 2024

  • Publish Date: NA
  • Format : PDF
  • Pages : 110
  • Industry : Chemicals

Global lactic acid market is projected to reach $ 8.8 billion by 2024, growing at a CAGR of 18.8% during 2019-2024. Extensive use of lactic acid in cosmetics as well as personal care products, on account of its antimicrobial, rejuvenating and moisturizing properties, is anticipated to drive the market in coming years. Lactic acid is basically used in the pharma industry for pH regulation, metal sequestration and chiral intermediate in pharmaceutical products. Owing to continuing advancements in the pharmaceutical industry, this trend of lactic acid usage in the industry would continue during the forecast period, particularly in emerging economies like India, China and Brazil. Moreover, demand for lactic acid is likely to be fueled by its increasing consumption in end-use application areas.

Globally, lactic acid market has been segmented into raw material, application and region.  Based on raw material, the market has been categorized into sugarcane, corn, cassava and others. Of these categories, sugarcane held approximately 42% of the global revenue in 2018. Sugarcane-based lactic acid is anticipated to witness significant demand over the next few years due to numerous research & development initiatives towards the development of novel production processes to aid the manufacturing of bioplastic and biochemicals prepared from the sustainable feedstock.

Based on application, the market has been bifurcated into industrial, food & beverages, pharmaceuticals, personal care, polylactic acid and others. In 2018, food & beverages segment accounted nearly one third of the market, backed by growing penetration of lactic acid in the poultry, meat and seafood industries due to its ability to increase their shelf life.

Regionally, the market has been segmented into North America, South America, Europe, Asia-Pacific and the Middle East & Africa. North America led the global market in 2018 and is anticipated to retain its dominating position during the forecast period, owing to increasing consumption of biodegradable polymers, which are eco-friendlier, as compared to petroleum-based alternatives, in the region.  

Some of the key players operating in the market are Futerro, Galactic, Henan Jindan Lactic Acid Technology Co., Ltd., Musashino Chemical (China) Co., Ltd, Corbion, Thyssenkrupp AG, Vaishnavi Bio-Tech Ltd., BASF SE, Teijin Ltd, DowDupont, Meredian Holdings Group, Inc., Natureworks LLC, Synbra Technology B.V. and WEI MON Industry Co., Ltd.

Years considered for this report:

Historical Years: 2014-2017

Base Year: 2018

Estimated Year: 2019

Forecast Period: 2020-2024

Objective of the Study:

  • To analyze and forecast global lactic acid market size.
  • To forecast global lactic acid market based on raw material, application and regional distribution.
  • To identify drivers and challenges for global lactic acid market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global lactic acid market.
  • To conduct the pricing analysis for lactic acid market.
  • To identify and analyze the profile of leading players involved in the manufacturing of lactic acid.

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Some of the leading players in global lactic acid market are Futerro, Galactic, Henan Jindan Lactic Acid Technology Co., Ltd., Musashino Chemical (China) Co., Ltd, Corbion, Thyssenkrupp AG, Vaishnavi Bio-Tech Ltd., BASF SE, Teijin Ltd, DowDupont, Meredian Holdings Group, Inc., Natureworks LLC, Synbra Technology B.V. and WEI MON Industry Co., Ltd.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of leading manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major players operating in global lactic acid market.

TechSci Research calculated global lactic acid market size by using a top-down approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

  • Lactic acid manufacturers, suppliers and other stakeholders
  • Government and other regulatory bodies
  • Associations, organizations and forums related to lactic acid market
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, global lactic acid market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Market, by Raw Material:
    • Sugarcane
    • Corn
    • Cassava
    • Others
  • Market, by Application:
    • Industrial
    • Food & Beverages
    • Pharmaceuticals
    • Personal Care
    • Polylactic Acid
    • Others
  • Market, by Region:
    • Asia-Pacific
      • China
      • Japan
      • India
      • South Korea
      • Australia
      • Indonesia
    • Europe
      • United Kingdom
      • Italy
      • France
      • Germany
      • Russia
    • North America
      • United States
      • Mexico
      • Canada
    • South America
      • Brazil
      • Argentina
      • Colombia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
      • Iran

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global lactic acid market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis

  • Profit margin analysis in case of direct and indirect sales channel.

In case you don’t find what you are looking for, please get in touch with our custom research team at

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