The global lactic acid market is estimated to reach USD 5.80 billion by 2030 and is anticipated to expand at a CAGR of 8.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growth can be attributed to increasing demand for this product in various end-use industries, including industrial, food & beverages, and pharmaceuticals, especially in emerging economies such as India, China, and Indonesia. Additionally, demand for this product as a feedstock in the production of polylactic acid (PLA) is anticipated to drive the market globally.
Various raw materials used for the production of lactic acid include carbohydrates such as corn, sugarcane, sugar beet, and tapioca. Large share of this product produced globally is obtained through the fermentation process owing to its lower production costs as well as rising consumer awareness regarding sustainable and environmentally friendly products. The production process is commercially mature with a significant number of manufacturers including Corbion, NatureWorks LLC, Galactic, and Henan Jindan Lactic Acid Technology Co., Ltd using it.
The raw materials used for the commercial synthesis of this product include maltose or starch, lactose, sucrose, and glucose. These raw materials are derived from various feedstock such as barley malt, whey, molasses, and beet sugar, which are used to produce lactic acid via microbial fermentation. The cost of raw material is a key factor to be considered in the fermentation process for the commercial production of this product. They may specifically cater to application areas such as industrial, food & beverage, pharmaceuticals, personal care, chemicals, and agrochemical products.
Polylactic acid is predominantly used to manufacture microwaveable containers, including disposable cutlery and food containers. Multiple beneficial properties, such as improved aesthetic appeal, and resistance to grease & oil, among others, is positively influencing the demand for polylactic acid in the formulation of food packaging products across the globe, further triggering the lactic acid demand.
Request a free sample copy or view report summary: Lactic Acid Market Report
In 2023, sugarcane emerged as dominant raw material segment by contributing over 38.8% revenue share, owing to abundant availability in nature, low cost, and environmentally friendly alternative
PLA is witnessed to constitute a significant application share in the market, owing to the rising usage in the manufacturing of biodegradable & biocompatible products
North America dominated the lactic acid industry and accounted for the largest revenue share of more than 45.2% in 2023 due to the presence of major personal care & cosmetic industry in this region specifically in the U.S.
Grand View Research has segmented the global lactic acid market based on raw material, deployment, end-use, and region:
Lactic Acid Raw Material Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Corn
Sugarcane
Cassava
Other Crops
Lactic Acid Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Industrial
Food & Beverages
Pharmaceuticals
Personal Care
Polylactic Acid
Others
Lactic Acid Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Netherlands
Rest of Europe
Asia Pacific
China
Japan
India
Indonesia
Malaysia
Philippines
Rest of Asia Pacific
Central & South America
Brazil
Middle East & Africa
List of Key Players in Lactic Acid Market
BASF SE
Galactic
Musashino Chemical (China) Co., Ltd.
Futerro
Corbion
Dow
TEIJIN LIMITED
NatureWorks LLC
Henan Jindan Lactic Acid Technology Co. Ltd.
thyssenkrupp AG
Cellulac
Jungbunzlauer Suisse AG
Vaishnavi Bio Tech
Danimer Scientific
"The quality of research they have done for us has been excellent..."