Lactic Acid Market Size, Share & Trends Analysis Report By Raw Material (Sugarcane, Corn, Cassava), By Application (Industrial, Food & Beverages, Pharmaceuticals, Personal Care, Polylactic Acid), By Region, And Segment Forecasts, 2024 - 2030
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Important: Covid19 pandemic market impact
Lactic acid prominently used across food and beverage, cosmetics, production of polylactic acid, which in turn is used for food packaging and medical implants & devices. A sudden increase in demand for ventilators and supporting medical equipment, has triggered the demand for bioplastics in the midst of the pandemic. PLA being a prominent bioplastic, is expected to provide traction to lactic acid consumption. However, as the coronavirus crises entail significant ramifications in the agriculture industry, the supply of raw material for producing lactic acid might observe an adverse impact. The updated report will account for COVID-19 as a key market contributor.
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