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Global Lactic Acid Market 2024-2028

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YOY 2024 8%
CAGR 8.3%
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  • BASF SE
  • Cargill Inc.
  • Corbion nv
  • DuPont de Nemours Inc.
  • Galactic
  • Henan Jindan lactic acid Technology Co. Ltd.
  • JIAAN BIOTECH
  • Jungbunzlauer Suisse AG
  • Musashino Chemical Laboratory Ltd.
  • Syconium Lactic Acid GmbH
  • Teijin Ltd.
  • thyssenkrupp AG
  • Vaishnavi Bio Tech International Ltd.
  • Vishnupriya Chemicals Pvt. Ltd.
  • Zhejiang NetSun Co. Ltd.

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LSH 24.03.15

The lactic acid market is forecasted to grow by USD 1.79 bn during 2023-2028, accelerating at a CAGR of 8.3% during the forecast period. The report on the lactic acid market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increase in popularity of probiotics composed of lactic acid, growing demand for lactic acid in food and beverage industry, and continuous expansion of bioplastics industry where lactic acid is key component.

Technavio's lactic acid market is segmented as below:

Market Scope
Base Year2024
End Year2028
Series Year2024-2028
Growth MomentumAccelerate
YOY 20248%
CAGR8.3%
Incremental Value$1.79bn

By Type

  • Dry
  • Liquid

By Source

  • Sugar cane
  • Corn
  • Cassava
  • Others

By Geographical Landscape

  • North America
  • APAC
  • Europe
  • South America
  • Middle East and Africa

This study identifies the expanding range of applications of lactic acid in pharmaceutical and personal care industry as one of the prime reasons driving the lactic acid market growth during the next few years. Also, rising awareness of lactose free products and increasing focus on sustainability for lactic acid products will lead to sizable demand in the market.

The report on the lactic acid market covers the following areas:

  • Lactic acid market sizing
  • Lactic acid market forecast
  • Lactic acid market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading lactic acid market vendors that include BASF SE, Cargill Inc., Corbion nv, Danimer Scientific Inc., Dow Chemical Co., DuPont de Nemours Inc., Foodchem International Corp., Galactic, Henan Jindan lactic acid Technology Co. Ltd., JIAAN BIOTECH, Jungbunzlauer Suisse AG, Musashino Chemical Laboratory Ltd., Sulzer Management Ltd., Syconium Lactic Acid GmbH, Teijin Ltd., thyssenkrupp AG, Toray Industries Inc., Vaishnavi Bio Tech International Ltd., Vishnupriya Chemicals Pvt. Ltd., and Zhejiang NetSun Co. Ltd.. Also, the lactic acid market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Table of Contents

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition
  • 3.2 Market segment analysis
  • 3.3 Market size 2023
  • 3.4 Market outlook: Forecast for 2023-2028

4 Historic Market Size

  • 4.1 Global lactic acid market 2018 - 2022
  • 4.2 Form Segment Analysis 2018 - 2022
  • 4.3 Source Segment Analysis 2018 - 2022
  • 4.4 Geography Segment Analysis 2018 - 2022
  • 4.5 Country Segment Analysis 2018 - 2022

5 Five Forces Analysis

  • 5.1 Five forces summary
  • 5.2 Bargaining power of buyers
  • 5.3 Bargaining power of suppliers
  • 5.4 Threat of new entrants
  • 5.5 Threat of substitutes
  • 5.6 Threat of rivalry
  • 5.7 Market condition

6 Market Segmentation by Type

  • 6.1 Market segments
  • 6.2 Comparison by Type
  • 6.3 Dry - Market size and forecast 2023-2028
  • 6.4 Liquid - Market size and forecast 2023-2028
  • 6.5 Market opportunity by Type

7 Market Segmentation by Source

  • 7.1 Market segments
  • 7.2 Comparison by Source
  • 7.3 Sugar cane - Market size and forecast 2023-2028
  • 7.4 Corn - Market size and forecast 2023-2028
  • 7.5 Cassava - Market size and forecast 2023-2028
  • 7.6 Others - Market size and forecast 2023-2028
  • 7.7 Market opportunity by Source

8 Customer Landscape

  • 8.1 Customer landscape overview

9 Geographic Landscape

  • 9.1 Geographic segmentation
  • 9.2 Geographic comparison
  • 9.3 North America - Market size and forecast 2023-2028
  • 9.4 APAC - Market size and forecast 2023-2028
  • 9.5 Europe - Market size and forecast 2023-2028
  • 9.6 South America - Market size and forecast 2023-2028
  • 9.7 Middle East and Africa - Market size and forecast 2023-2028
  • 9.8 US - Market size and forecast 2023-2028
  • 9.9 China - Market size and forecast 2023-2028
  • 9.10 Germany - Market size and forecast 2023-2028
  • 9.11 UK - Market size and forecast 2023-2028
  • 9.12 Japan - Market size and forecast 2023-2028
  • 9.13 Market opportunity By Geographical Landscape

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers
  • 10.2 Market challenges
  • 10.3 Impact of drivers and challenges
  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview
  • 11.2 Vendor landscape
  • 11.3 Landscape disruption
  • 11.4 Industry risks

12 Vendor Analysis

  • 12.1 Vendors covered
  • 12.2 Market positioning of vendors
  • 12.3 BASF SE
  • 12.4 Cargill Inc.
  • 12.5 Corbion nv
  • 12.6 DuPont de Nemours Inc.
  • 12.7 Galactic
  • 12.8 Henan Jindan lactic acid Technology Co. Ltd.
  • 12.9 JIAAN BIOTECH
  • 12.10 Jungbunzlauer Suisse AG
  • 12.11 Musashino Chemical Laboratory Ltd.
  • 12.12 Syconium Lactic Acid GmbH
  • 12.13 Teijin Ltd.
  • 12.14 thyssenkrupp AG
  • 12.15 Vaishnavi Bio Tech International Ltd.
  • 12.16 Vishnupriya Chemicals Pvt. Ltd.
  • 12.17 Zhejiang NetSun Co. Ltd.

13 Appendix

  • 13.1 Scope of the report
  • 13.2 Inclusions and exclusions checklist
  • 13.3 Currency conversion rates for US$
  • 13.4 Research methodology
  • 13.5 List of abbreviations
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