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Lactic Acid Market
Lactic Acid Market Size, Share, Forecast, & Trends Analysis by Source (Sugarcane, Corn, Cassava, Yeast Extract), Form (Liquid, Dry), Application (Polylactic Acid, Food & Beverages, Pharmaceuticals, Personal Care, Industrial) - Global Forecast to 2031
Report ID:MRFB - 1041398 Pages: 220 Nov-2024 Formats*: PDF Category: Food and Beverages Delivery: 24 to 72 HoursThe Lactic Acid Market was valued at $3.30 billion in 2023. This market is expected to reach $10.64 billion by 2031 from an estimated $3.79 billion in 2024, at a CAGR of 13.6% during the forecast period from 2024 to 2031.
Lactic Acid Market Size & Forecast
Key factors driving the growth of this market include the growing personal care industry, increasing adoption of lactic acid in the food and beverage sector, and rising government support for eco-friendly products. Additionally, the increasing demand for sustainably sourced and environmentally friendly products, along with emerging economies in Asia-Pacific and Latin America, is creating significant opportunities for market players.
Key Findings in the Lactic Acid Market
- By Source: The Sugarcane Segment to Dominate the Lactic Acid Market in 2024
- By Form: In 2024, the Liquid Segment is Expected to Dominate the Lactic Acid Market
- By Application: In 2024, the Polylactic Acid Segment is Expected to Dominate the Lactic Acid Market
- By Geography: North America Dominates the Lactic Acid Market in 2024
Lactic Acid Market Drivers
Growing Personal Care Industry
Personal hygiene, skin health, and general well-being have received increasing attention in recent years, particularly among younger individuals. As a result, the use of cosmetics and personal care products has surged. This growth is largely driven by rising disposable incomes and an increasing focus on personal grooming. Additionally, growing awareness of the risks associated with chemical-based cosmetics, along with concerns over long-term use, is driving demand for herbal and naturally derived personal care products.
Lactic acid, a versatile ingredient, is widely used in personal care products. Alpha-hydroxy acid (AHA), of which lactic acid is a key component, is valued for its effectiveness in exfoliating the skin by promoting the shedding of dead skin cells. This process helps improve skin texture and combat dullness. Lactic acid is also increasingly incorporated into moisturizers, as it helps maintain hydration levels. Moreover, it offers anti-aging benefits, reduces hyperpigmentation, and helps unclog pores. Thus, the growing adoption of lactic acid in personal care products is expected to drive the market’s growth.
Increasing Adoption of Lactic Acid in the Food & Beverage Sector
The growth of the food industry can be attributed to several factors, including technological advancements in manufacturing methods, increasing health and wellness trends, rising consumer demand for innovative and nutritious food products, a changing food landscape, population growth, and higher consumer spending and disposable income. Additionally, R&D activities are focused on reducing product costs, enhancing sensory properties to improve food appeal, boosting nutritional value, extending shelf life, and offering a wider variety of food options to consumers.
Lactic acid plays a significant role in the food industry due to its multifunctional properties. It is widely used as a natural preservative, inhibiting the growth of spoilage microorganisms and pathogens, which extends the shelf life of various food products. Lactic acid also adds a tangy flavor, enhancing the overall taste profile of foods. Furthermore, it serves as a gelling agent, improving the texture and stability of products such as jellies and desserts. Its natural origin aligns with the growing consumer preference for clean-label ingredients. These factors are driving the increasing adoption of lactic acid, contributing to the growth of the market.
Lactic Acid Market Opportunities
Increasing Demand for Sustainably Sourced & Environmentally Friendly Products
In recent years, the demand for sustainably sourced and environmentally friendly products has increased, driven by growing consumer awareness and changing purchasing behaviors across various demographics. This rising demand has put significant pressure on manufacturers to develop more eco-friendly products, subsequently driving the demand for lactic acid.
Polylactic acid (PLA), a biodegradable thermoplastic, is gaining traction due to heightened environmental awareness, regulatory pressures, and a shift toward sustainable materials across industries. PLA is primarily derived from lactic acid, which is sourced from renewable materials such as corn and sugarcane, making it a promising alternative to conventional petroleum-based plastics. As consumers become more conscious of sustainability, many are willing to pay a premium for biodegradable options. This has created significant pressure on manufacturers to incorporate PLA into their product lines. Additionally, governments worldwide are enforcing stricter regulations on plastic use, further encouraging manufacturers to transition to PLA. As a result, the growing demand for sustainable and environmentally friendly products is anticipated to offer growth opportunities for companies in the lactic acid market.
Lactic Acid Market Analysis: Top Market Opportunity:
By Source: In 2024, the Sugarcane Segment is Expected to Dominate the Lactic Acid Market
Based on source, the lactic acid market is segmented into sugarcane, corn, cassava, yeast extract, and other sources. In 2024, the sugarcane segment is estimated to account for the largest share of the lactic acid market. The large market share of this segment is primarily attributed to the abundant availability of sugarcane biomass for lactic acid production. Major producers, such as Brazil and India, contribute significantly to global sugar production. The diverse byproducts of sugarcane, including molasses and bagasse, support the production of high-purity lactic acid while providing economic benefits through lower raw material costs. Additionally, sugarcane molasses and juices are often more cost-effective than synthetic or non-renewable sources.
Geographical Analysis
North America Dominates the Lactic Acid Market in 2024
In 2024, North America is estimated to account for the largest share of the global lactic acid market. North America’s dominant position in the global lactic acid market can be attributed to the high demand for lactic acid in pharmaceuticals, personal care, and food and beverage industries, as well as increasing government initiatives to reduce carbon footprints and the rising demand for biodegradable packaging applications. The region is home to a significant number of leading pharmaceutical and personal care product manufacturers, including Unilever, Procter & Gamble, Colgate-Palmolive, and Pfizer Inc., all of which are major consumers of lactic acid, further supporting market growth in the region.
However, the market in Asia-Pacific is slated to record the highest CAGR during the forecast period of 2024–2031. This growth is attributed to the rising production of sugarcane and corn in the region, increasing demand for ready-to-eat products (which drives the need for preservatives), a high concentration of food and beverage manufacturers, and the growing incorporation of lactic acid in personal care products due to rising consumer demand for natural, ingredient-based products. Additionally, governments in the region are implementing stricter regulations on plastic usage, which is expected to further boost the demand for sustainable alternatives like PLA.
Key Companies
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading market players over the past three years (2021-2024).
The key players profiled in the global lactic acid market report are Corbion NV (Netherlands), BASF SE (Germany), Galactic (Belgium), Cargill, Incorporated (U.S.), Musashino Chemical Laboratory, Ltd. (Japan), CELLULAC (U.K.), Jungbunzlauer Suisse AG (Switzerland), Henan Jindan lactic acid Technology Co., Ltd. (China), Foodchem International Corporation (China), Godavari Bio-refineries (India), Sulzer Ltd (Switzerland), Spectrum Chemical Mfg. Corp. (U.S.), ProAgro GmbH (Austria), and Vaishnavi Biotech (India), among others.
Lactic Acid Industry Overview: Latest Developments from Key Industry Players
- In February 2023, NIZO Food Research B.V. (Netherlands) signed a long-term contract manufacturing partnership with DSM-Firmenich AG (Netherlands). As part of this partnership, NIZO acquired a lactic acid production facility from Vika Nutrition B.V. (Netherlands).
- In May 2023, Sulzer Ltd. (Switzerland) signed an agreement with Jindan New Biomaterials Co., Ltd. (China), a lactic acid (LA) producer, for the production of polylactic acid (PLA) in China.
- In August 2022, LG Chem Ltd. (South Korea) and The Archer-Daniels-Midland Company (U.S.) formed a joint venture to produce lactic acid and polylactic acid in the U.S.
- In January 2021, Corbion N.V. (Netherlands) expanded its lactic acid production capacity by approximately 40% in North America.
Lactic Acid Market Research Summary
|
Particulars |
Details |
|
Number of Pages |
220 |
|
Format |
|
|
Forecast Period |
2024–2031 |
|
Base Year |
2023 |
|
CAGR |
13.6% |
|
Market Size |
USD 10.64 Billion by 2031 |
|
Segments Covered |
By Source
By Form
By Application
|
|
Countries Covered |
North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, Indonesia, Malaysia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), and the Middle East & Africa (Saudi Arabia, South Africa, UAE, Rest of Middle East & Africa) |
|
Key Companies |
Corbion NV (Netherlands), BASF SE (Germany), Galactic (Belgium), Cargill, Incorporated (U.S.), Musashino Chemical Laboratory, Ltd. (Japan), CELLULAC (U.K.), Jungbunzlauer Suisse AG (Switzerland), Henan Jindan lactic acid Technology Co., Ltd. (China), Foodchem International Corporation (China), Godavari Bio-refineries (India), Sulzer Ltd (Switzerland), Spectrum Chemical Mfg. Corp. (U.S.), ProAgro GmbH (Austria), and Vaishnavi Biotech (India), among others. |
Key questions answered in the report:
The global lactic acid market size was valued at $3.30 billion in 2023.
The market is projected to grow from $3.79 billion in 2024 to $10.64 billion by 2031.
The lactic acid market analysis indicates substantial growth, with projections indicating that the market will reach $10.64 billion by 2031 at a compound annual growth rate (CAGR) of 13.6% from 2024 to 2031.
The key companies operating in this market include Corbion NV (Netherlands), BASF SE (Germany), Galactic (Belgium), Cargill, Incorporated (U.S.), Musashino Chemical Laboratory, Ltd. (Japan), CELLULAC (U.K.), Jungbunzlauer Suisse AG (Switzerland), Henan Jindan lactic acid Technology Co., Ltd. (China), Foodchem International Corporation (China), Godavari Bio-refineries (India), Sulzer Ltd (Switzerland), Spectrum Chemical Mfg. Corp. (U.S.), ProAgro GmbH (Austria), and Vaishnavi Biotech (India).
The rising adoption of clean-label products and sustainably sourced ingredients is a prominent trend in the lactic acid market.
By source, the sugarcane segment is forecasted to hold the largest market share during 2024-2031.
By form, the liquid segment is expected to dominate the market during 2024-2031.
By application, the polylactic acid segment is anticipated to hold the major market share during 2024-2031.
By region, North America holds the largest lactic acid market share in 2024. However, the market in Asia-Pacific is expected to witness the highest growth rate, driven by the rising production of sugarcane and corn in the region, increasing demand for ready-to-eat products (which drives the need for preservatives), a high concentration of food and beverage manufacturers, and the growing incorporation of lactic acid in personal care products due to rising consumer demand for natural, ingredient-based products. Additionally, governments in the region are implementing stricter regulations on plastic usage, which is expected to further boost the demand for sustainable alternatives like PLA.
Key factors driving the growth of this market include the growing personal care industry, increasing adoption of lactic acid in the food and beverage sector, and rising government support for eco-friendly products.
1. Market Definition & Scope
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Approach
2.2. Process of Data Collection and Validation
2.2.1. Secondary Research
2.2.2. Primary Research/Interviews with Key Opinion Leaders from the Industry
2.3. Market Sizing and Forecast
2.3.1. Market Size Estimation Approach
2.3.1.1. Bottom-up Approach
2.3.1.2. Top-down Approach
2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study
3. Executive Summary
3.1. Overview
3.2. Segmental Analysis
3.2.1. Lactic Acid Market Analysis, by Source
3.2.2. Lactic Acid Market Analysis, by Form
3.2.3. Lactic Acid Market Analysis, by Application
3.3. Regional Analysis
3.4. Key Players & Competitive Scenario
4. Market Insights
4.1. Overview
4.2. Factors Affecting Market Growth
4.2.1. Growing Personal Care Industry Boosting the Adoption of Lactic Acid
4.2.2. Increasing Adoption of Lactic Acid in the Food & Beverage Sector Driving the Demand for Lactic Acid Market
4.2.3. Rising Government Support for Eco-friendly Products Supports the Growth of the Market
4.2.4. Fluctuating Raw Material Prices Restraining the Market Growth
4.2.5. Availability of Cheaper Synthetic Alternatives Restraining the Market Growth
4.2.6. Increasing Demand for Sustainably Sourced and Environmentally Friendly Products Generating Market Growth Opportunities
4.2.7. Emerging Economies in Asia-Pacific and Latin America Creating Market Growth Opportunities
4.2.8. High Production Cost Remains a Major Challenge for Market Players
4.2.9. Rising Adoption of Clean-label Products and Sustainably Sourced Ingredients a Prominent Trend in the Market
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of Substitutes
4.3.4. Threat of New Entrants
4.3.5. Degree of Competition
5. Lactic Acid Market Assessment—by Source
5.1. Overview
5.2. Sugarcane
5.3. Corn
5.4. Cassava
5.5. Yeast Extract
5.6. Other Sources
6. Lactic Acid Market Assessment—by Form
6.1. Overview
6.2. Liquid
6.3. Dry
7. Lactic Acid Market Assessment—by Application
7.1. Overview
7.2. Polylactic Acid
7.3. Food & Beverages
7.4. Pharmaceuticals
7.5. Personal Care
7.6. Industrial
7.7. Other Applications
8. Lactic Acid Market Assessment–by Geography
8.1. Overview
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. U.K.
8.3.4. Italy
8.3.5. Spain
8.3.6. Netherlands
8.3.7. Rest of Europe (RoE)
8.4. Asia-Pacific
8.4.1. China
8.4.2. India
8.4.3. Japan
8.4.4. Australia
8.4.5. South Korea
8.4.6. Indonesia
8.4.7. Malaysia
8.4.8. Rest of Asia-Pacific (RoAPAC)
8.5. Latin America
8.5.1. Brazil
8.5.2. Argentina
8.5.3. Mexico
8.5.4. Rest of Latin America (RoLATAM)
8.6. Middle East & Africa
8.6.1. Saudi Arabia
8.6.2. South Africa
8.6.3. UAE
8.6.4. Rest of Middle East & Africa (RoMEA)
9. Competitive Landscape
9.1. Overview
9.2. Key Growth Strategies
9.3. Competitive Benchmarking
9.4. Competitive Dashboard
9.4.1. Industry Leaders
9.4.2. Market Differentiators
9.4.3. Vanguards
9.4.4. Contemporary Stalwarts
9.5. Market Share/Ranking Analysis, by the Key Players, 2023
10. Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments, and SWOT Analysis*)
10.1. Corbion NV
10.2. BASF SE
10.3. Galactic
10.4. Cargill, Incorporated
10.5. Musashino Chemical Laboratory, Ltd.
10.6. CELLULAC
10.7. Jungbunzlauer Suisse AG
10.8. Henan Jindan lactic acid Technology Co., Ltd.
10.9. Foodchem International Corporation
10.10. Godavari Bio-refineries
10.11. Sulzer Ltd
10.12. Spectrum Chemical Mfg. Corp.
10.13. ProAgro GmbH
10.14. Vaishnavi Biotech
10.15. Other Companies
(Note: SWOT Analysis will be provided of the Top 5 Companies)
11. Appendix
11.1. Available Customization
11.2. Related Reports
List Of Tables
Table 1. Global ASP of Sugarcane-sourced Lactic Acid, by Country/Region, 2022-2031 (USD/Ton)
Table 2. Global ASP of Corn-sourced Lactic Acid, by Country/Region, 2022-2031 (USD/Ton)
Table 3. Global ASP of Cassava-sourced Lactic Acid, by Country/Region, 2022-2031 (USD/Ton)
Table 4. Global ASP of Yeast Extract-sourced Lactic Acid, by Country/Region, 2022-2031 (USD/Ton)
Table 5. Global ASP of Other Raw Materials-sourced Lactic Acid, by Country/Region, 2022-2031 (USD/Ton)
Table 6. Global Lactic Acid Market, by Source, 2022-2031 (USD Million)
Table 7. Global Lactic Acid Market, by Source, 2022-2031 (KT)
Table 8. Global Sugarcane-sourced Lactic Acid Market, by Country/Region, 2022-2031 (USD Million)
Table 9. Global Sugarcane-sourced Lactic Acid Market, by Country/Region, 2022-2031 (KT)
Table 10. Global Corn-sourced Lactic Acid Market, by Country/Region, 2022-2031 (USD Million)
Table 11. Global Corn-sourced Lactic Acid Market, by Country/Region, 2022-2031 (KT)
Table 12. Global Cassava-sourced Lactic Acid Market, by Country/Region, 2022-2031 (USD Million)
Table 13. Global Cassava-sourced Lactic Acid Market, by Country/Region, 2022-2031 (KT)
Table 14. Global Yeast Extract-sourced Lactic Acid Market, by Country/Region, 2022-2031 (USD Million)
Table 15. Global Yeast Extract-sourced Lactic Acid Market, by Country/Region, 2022-2031 (KT)
Table 16. Global Other Raw Materials-sourced Lactic Acid Market, by Country/Region, 2022-2031 (USD Million)
Table 17. Global Other Raw Materials-sourced Lactic Acid Market, by Country/Region, 2022-2031 (KT)
Table 18. Global Lactic Acid Market, by Form, 2022-2031 (USD Million)
Table 19. Global Liquid Lactic Acid Market, by Country/Region, 2022-2031 (USD Million)
Table 20. Global Dry Lactic Acid Market, by Country/Region, 2022-2031 (USD Million)
Table 21. Global Lactic Acid Market, by Application, 2022-2031 (USD Million)
Table 22. Global Lactic Acid Market for Polylactic Acid, by Country/Region, 2022-2031 (USD Million)
Table 23. Global Lactic Acid Market for Food & Beverages, by Country/Region, 2022-2031 (USD Million)
Table 24. Global Lactic Acid Market for Pharmaceuticals, by Country/Region, 2022-2031 (USD Million)
Table 25. Global Lactic Acid Market for Personal Care, by Country/Region, 2022-2031 (USD Million)
Table 26. Global Lactic Acid Market for Other Applications, by Country/Region, 2022-2031 (USD Million)
Table 27. Global Lactic Acid Market for Industrial, by Country/Region, 2022-2031 (USD Million)
Table 28. Lactic Acid Market, by Region, 2022-2031 (USD Million)
Table 29. Lactic Acid Market, by Region, 2022-2031 (KT)
Table 30. North America: Lactic Acid Market, by Country, 2022-2031 (USD Million)
Table 31. North America: Lactic Acid Market, by Country, 2022-2031 (KT)
Table 32. North America: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 33. North America: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 34. North America: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 35. North America: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 36. U.S.: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 37. U.S.: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 38. U.S.: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 39. U.S.: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 40. Canada: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 41. Canada: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 42. Canada: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 43. Canada: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 44. Europe: Lactic Acid Market, by Country/Region, 2022-2031 (USD Million)
Table 45. Europe: Lactic Acid Market, by Country/Region, 2022-2031 (KT)
Table 46. Europe: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 47. Europe: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 48. Europe: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 49. Europe: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 50. Germany: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 51. Germany: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 52. Germany: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 53. Germany: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 54. France: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 55. France: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 56. France: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 57. France: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 58. U.K.: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 59. U.K.: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 60. U.K.: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 61. U.K.: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 62. Italy: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 63. Italy: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 64. Italy: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 65. Italy: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 66. Spain: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 67. Spain: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 68. Spain: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 69. Spain: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 70. Netherlands: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 71. Netherlands: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 72. Netherlands: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 73. Netherlands: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 74. Rest of Europe: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 75. Rest of Europe: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 76. Rest of Europe: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 77. Rest of Europe: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 78. Asia-Pacific: Lactic Acid Market, by Country/Region, 2022-2031 (USD Million)
Table 79. Asia-Pacific: Lactic Acid Market, by Country/Region, 2022-2031 (KT)
Table 80. Asia-Pacific: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 81. Asia-Pacific: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 82. Asia-Pacific: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 83. Asia-Pacific: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 84. China: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 85. China: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 86. China: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 87. China: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 88. India: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 89. India: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 90. India: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 91. India: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 92. Japan: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 93. Japan: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 94. Japan: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 95. Japan: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 96. Australia: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 97. Australia: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 98. Australia: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 99. Australia: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 100. South Korea: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 101. South Korea: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 102. South Korea: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 103. South Korea: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 104. Indonesia: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 105. Indonesia: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 106. Indonesia: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 107. Indonesia: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 108. Malaysia: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 109. Malaysia: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 110. Malaysia: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 111. Malaysia: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 112. Rest of Asia-Pacific: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 113. Rest of Asia-Pacific: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 114. Rest of Asia-Pacific: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 115. Rest of Asia-Pacific: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 116. Latin America: Lactic Acid Market, by Country/Region, 2022-2031 (USD Million)
Table 117. Latin America: Lactic Acid Market, by Country/Region, 2022-2031 (KT)
Table 118. Latin America: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 119. Latin America: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 120. Latin America: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 121. Latin America: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 122. Brazil: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 123. Brazil: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 124. Brazil: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 125. Brazil: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 126. Mexico: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 127. Mexico: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 128. Mexico: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 129. Mexico: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 130. Argentina: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 131. Argentina: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 132. Argentina: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 133. Argentina: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 134. Rest of Latin America: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 135. Rest of Latin America: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 136. Rest of Latin America: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 137. Rest of Latin America: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 138. Middle East & Africa: Lactic Acid Market, by Country/Region, 2022-2031 (USD Million)
Table 139. Middle East & Africa: Lactic Acid Market, by Country/Region, 2022-2031 (KT)
Table 140. Middle East & Africa: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 141. Middle East & Africa: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 142. Middle East & Africa: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 143. Middle East & Africa: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 144. Saudi Arabia: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 145. Saudi Arabia: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 146. Saudi Arabia: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 147. Saudi Arabia: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 148. South Africa: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 149. South Africa: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 150. South Africa: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 151. South Africa: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 152. UAE: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 153. UAE: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 154. UAE: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 155. UAE: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 156. Rest of Middle East & Africa: Lactic Acid Market, by Source, 2022–2031 (USD Million)
Table 157. Rest of Middle East & Africa: Lactic Acid Market, by Source, 2022–2031 (KT)
Table 158. Rest of Middle East & Africa: Lactic Acid Market, by Form, 2022–2031 (USD Million)
Table 159. Rest of Middle East & Africa: Lactic Acid Market, by Application, 2022–2031 (USD Million)
Table 160. Recent Developments, by Company (2020–2024)
List Of Figures
Figure 1. Research Process
Figure 2. Secondary Sources Referenced for this Study
Figure 3. Primary Research Techniques
Figure 4. Key Executives Interviewed
Figure 5. Breakdown of Primary Interviews (Supply Side & Demand Side)
Figure 6. Market Sizing and Growth Forecast Approach
Figure 7. In 2024, the Sugarcane Segment to Dominate the Global Lactic Acid Market
Figure 8. In 2024, the Liquid Segment to Dominate the Global Lactic Acid Market
Figure 9. In 2024, the Polylactic Acid Segment to Dominate the Global Lactic Acid Market
Figure 10. In 2024, North America to Dominate the Overall Lactic Acid Market
Figure 11. Impact Analysis of Market Dynamics
Figure 12. Lactic Acid Market: Porter’s Five Forces Analysis
Figure 13. Global Lactic Acid Market, by Source, 2024 Vs. 2031 (USD Million)
Figure 14. Global Lactic Acid Market, by Source, 2024 Vs. 2031 (KT)
Figure 15. Global Lactic Acid Market, by Form, 2024 Vs. 2031 (USD Million)
Figure 16. Global Lactic Acid Market, by Application, 2024 Vs. 2031 (USD Million)
Figure 17. North America: Lactic Acid Market Snapshot (2024)
Figure 18. Europe: Lactic Acid Market Snapshot (2024)
Figure 19. Asia-Pacific: Lactic Acid Market Snapshot (2024)
Figure 20. Latin America: Lactic Acid Market Snapshot (2024)
Figure 21. Middle East & Africa: Lactic Acid Market Snapshot (2024)
Figure 22. Key Growth Strategies Adopted by Leading Players (2021–2024)
Figure 23. Global Lactic Acid Market Competitive Benchmarking, by Source
Figure 24. Competitive Dashboard: Global Lactic Acid Market
Figure 25. Corbion NV: Financial Overview (2023)
Figure 26. BASF SE: Financial Overview (2023)
Figure 27. Cargill, Incorporated: Financial Overview (2023)
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