San Francisco, 24 January 2024: The Report Lactic Acid Market Size, Share & Trends Analysis Report By Raw Material (Corn, Sugarcane, Cassava, Yeast Extract), By Form (Dry, Liquid), By Application, By Region, & Segment Forecasts, 2024 - 2030

The global lactic acid market size is expected to reach USD 5.80 billion by 2030, expanding at a CAGR of 8.0% 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.

The usage of this form in various end use industries including pharmaceuticals, food & beverages majorly in emerging economies such as India, China, and Indonesia are anticipated to drive demand for this form over forecast period.

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This product is majorly used in formation of PLA, which is a biodegradable polymer, compostable thermoplastic made from renewable sources such as fermentation processes. This chemical is Generally Recognized As Safe (GRAS) and has great market potential in food industry being recognized as harmless By United States Food & Drug Administration. It can be alternatively produced by chemical synthesis or fermentation.

Lactic Acid Market Report Highlights

• 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.

It is considered as one of well-known organic acids having wide range of industrial applications. The four main applications of this form are in food, chemical, pharmaceutical, and cosmetics industries. This form is a lactic bacteria which refer to a large group of beneficial bacteria having probiotic properties. Additionally, it plays a crucial role in the preparation of wine making, pickling, sausages, curing fish, meat, vegetables baking, and preparation of fermented dairy forms.

The product is not only a significant ingredient in fermented foods, including, canned vegetables, yogurt, and butter, but is also used as a preservative in pickled vegetables and olives. This naturally occurring organic acid, is used in a variety of applications, including food & beverages, pharmaceutical, cosmetics, chemicals, and industrial.

This is a one of large-scale organic acid produced, most commonly used feedstock are carbohydrates obtained from different sources such as sugarcane, corn starch, and others. As compared to mineral variations, organic ones does not completely dissociate in water.

Market Concentration & Characteristics

The lactic acid market is a moderately consolidated market in nature due to limited players dominating the market. Companies such as Futerro; BASF SE; Galactic; Henan Jindan Lactic Acid Technology Co. Ltd.; Musashino Chemical (China) Co., Ltd.; Corbion; thyssenkrupp AG., are among the major players in the market, which indicates a concentrated market landscape.

Lactic Acid Market Report Scope

Food & beverages emerged as second largest application segment in the year 2023. This form has ability to enhance flavor and increase the shelf life of food & beverages forms by controlling the development of pathogenic microorganisms. Owing to these properties demand for this form is anticipated to surge with its growing penetration in seafood, poultry, and meat industries.

Lactic acid serves as a vital feedstock in formation of PLA, which is further used to manufacture biodegradable plastic. These biodegradable plastics are used in numerous industries such as packaging and chemical. This form is a natural solvent used as a metal cleaning agent as well as in mechanical cleaning applications.

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