Lactic Acid Market
Lactic Acid Market - Global Industry Assessment & Forecast
#
Pages:
146
2022
Jan - 2022
VMR-1150
Segments Covered
By
Source Natural, Synthetic
-
By
Application Biodegradable Polymers, Food & Beverages, Pharmaceutical Products, Personal Care Products, Other Applications
-
By
Region North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Snapshot
 Base Year:
|
2022 |
| Forecast
Years:
|
2023 - 2030 |
 Historical
Years:
|
2017 - 2021 |
 Revenue
2022: |
USD 3.5 Billion |
 Revenue 2030:
|
USD 6.23 Billion |
 Revenue CAGR
(2023 - 2030): |
8.6% |
Fastest Growing Region (2023 -
2030)
|
Asia Pacific |
Largest Region (2022):
|
North America |
Customization Offered
Cross-segment Market Size and
Analysis
for Mentioned Segments- Additional Company Profiles (Upto 5
With
No Cost)
- Additional Countries (Apart From
Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request
Customization Speak To
Analyst
Research Methodology: Lactic Acid Market by Source by Application by Region - Global Market Assessment, 2021 - 2028
Secondary Research
Primary Research:
Data Triangulation and Market Size Estimations
Vantage Market
Research | 26-Jun-2023
FAQ
Frequently Asked Question
What is the global demand for Lactic Acid in terms of revenue?
-
The global Lactic Acid valued at USD 3.5 Billion in 2022 and is expected to reach USD 6.23 Billion in 2030 growing at a CAGR of 8.6%.
Which are the prominent players in the market?
-
The prominent players in the market are Futerro Group (Belgium), BASF SE (Germany), Galactic (Belgium), Henan Jindan Lactic Acid Technology Co. Ltd. (China), Musashino Chemical Co. Ltd. (China), Corbion (Netherlands), Thyssenkrupp AG (Germany), The Dow Chemical Company (U.S.), Cellulac (UK), Jungbunzlauer Suisse AG (Switzerland), Vaishnavi Bio Tech. (India), TEIJIN Ltd. (Japan), Danimer Scientific (U.S.), NatureWorks LLC (U.S.).
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 8.6% between 2023 and 2030.
What are the driving factors fueling the growth of the market.
-
The driving factors of the Lactic Acid include
- Growing Demand for Lactic Acid in Biodegradable Polymers Application
Which region accounted for the largest share in the market?
-
North America was the leading regional segment of the Lactic Acid in 2022.
