Lactic Acid Market Size, Share, and Trends 2024 to 2034

Lactic Acid Market Size and Companies

The global lactic acid market size was accounted for USD 3.46 billion in 2022 and is expected to surpass around USD 7.93 billion by 2032, growing at a compound annual growth rate (CAGR) of 8.70% during the forecast period 2023 to 2032.

Key Takeaways:

• By raw material, U.S. lactic acid market was valued at USD 2 billion in 2022.
• By raw material, the sugarcane segment garnered largest revenue share 41% in 2022.
• The corn raw material segment is projected to grow at a CAGR of 8.2% from 2023 to 2032.
• By application, the polylactic acid segment accounted 30% market share in 2022.
• North America region accounted 46% revenue share in 2022.
• Asia Pacific region accounted  20% revenue share in 2022.

There has been an increase in the use of lactic acid in different types of industries across all the developed as well as the developing economies which has led to the growth of the market. Along with the use of lactic acid in the food and beverage industry there has also been a growing demand for this product in the Pharmaceutical industry. 

Apart from the developed nations India Indonesia as well as China has a great demand for lactic acid in the food and beverages industry. This is a form of organic acid which has been used in different types of the industrial applications lactic acid is also widely used in the cosmetics industry. This product is expected to have probiotic properties vote happens to be a form of bacteria which is beneficial for the human beings. Lactic acid also plays a very important role in various food products which need processing. Dairy industry also makes use of lactic acid for the fermentation process. Lactic acid is also used for the curing of sausages meat as well as fish. 

Lactic acid is extremely useful as it happens to be a disinfectant agent. It is also used in topical application in the cosmetics industry. Lactic acid is also used in the manufacturing of a polymer which is of a biodegradable format. In the United States there is a greater use of lactic acid which is made through the process of fermentation. It is largely used in the food industry of the United States

During the pandemic there was a great demand for Poly lactic acid which is used in the manufacturing of disposable cutlery items. It was also used in manufacturing containers that were microwave safe as well as food containers in order to store food beard there was a greater demand for Poly lactic acid for the manufacturing of these items as it provides a better look to these containers and it also provides a surface which is extremely resistant to the oil from the food. The increasing spread of pandemic created a greater demand for this product. As it provided better sanitation and prevented the spread of virus.

Growth Factors

That has been a great demand for lactic acid in many industries due to the amount of benefits offered by this product. This product is extremely beneficial for skin and therefore it is used in the manufacturing of different cosmetics. It is also used in the chemical industries as well as the pharmaceutical industries for the production of different medicines. For curing meat or sausages lactic acid is used in the food industry. It is also used for the fermentation process in the dairy industry. There is a good demand for lactic acid as it is widely used in canned vegetables. It is also used for the fermentation process of yogurt. Olives and many different types of vegetables make use of lactic acid for being pickled. There is a great demand for the production of Poly lactic acid which makes use of lactic acid. This polymer is manufactured through the fermentation process. This product is a biodegradable product. There is a growing demand for lactic acid in the cosmetic industry as well as the Pharmaceutical industry. Due to a growing demand for probiotic drinks lactic acid is expected to see a growth in the coming years as it contains a wide range of beneficial bacteria.

Lactic acid is also used in the personal care industry. Due to an increased use of Poly lactic acid in the manufacturing of polymers there is a great demand for lactic acid in the European region as well as the North American region. As this product is useful in manufacturing different packaging material for the food industry there is a growing demand for lactic acid in many nations. It is also used in the manufacturing of the packaging used for the take away items. As there is a growing demand for different types of innovative products like the Poly lactic acid the market is expected to grow in the coming years. Bio plastics are used on a large scale in the packaging industry and it accounts to about 65%. Therefore there shall be a growing demand for this product during the forecast period. There is a growing demand for lactic acid in the food and the beverages industry as this product has reduced or substituted different types of toxic materials from this industry. 

The use of various synthetic chemicals happens to change the texture as well as the flavor of the food products in order to provide a better shelf life for the product. But the increased use of lactic acid is due to its benefits of not changing the flavor of the food products while it is used as a preservative. The different types of cheese flavors available in the market are due to the use of lactic acids. In order to increase the shelf life of various products lactic acid is used widely in the food and beverages industry. It is also used in the production of baked food items.

Lactic acid helps in regulating the acidity of the raw material of the baked goods. They shall be great opportunities for the growth of this market in the coming years due to its wild usage in the manufacturing of single use tableware, automotives, food packaging as well as textiles.

Report Scope of the Lactic Acid Market

Raw Material Insights

On the basis of the raw material, the sugar cane segment is expected to have the largest market share in the coming years. The sugar cane segment has dominated the market in the past with the largest market share in terms of revenue. The raw sugar which is derived from a sugar cane is one of them most important raw material used for the production of lactic acid. Grow sugar is available on a large scale and it is widely used in the manufacturing of lactic acid has the sugar cane segment is expected to dominate the market in the coming years.

Apart from the sugar cane segment the cone segment will also grow well during the forecast period. It is abundantly available in nature and does not cost a lot therefore this segment is also expected to grow well in the coming years. Corn segment is expected to grow well as this is a sustainable product and there shall be a growing demand for it in the coming years. Apart from the use of sugar cane and corn, yeast is also used as a raw material in the manufacturing of lactic acid. This option happens to be slightly expensive.

Application Insights

On the basis of application, the Poly lactic acid segment will dominate the market in the coming year period this segment had the largest market share in the recent years. There is a wide range of biodegradable plastic available across the globe but this segment is expected to have the largest market share due to its characteristics of being strong as well as durable. This plastic also appears to be more transparent compared to the other biodegradable plastics and hence this segment is expected to have the largest market share in the coming years. There has been an increase in the demand for the biodegradable plastics due to its use in the automotive market. There is a growing demand for various lightweight materials which could be used in the interior of the automobiles or the automotives. Different parts of the engine or various parts used in the interior of the automotives or manufactured using the Poly lactic acid. There's a growing demand for this product as it helps in improving the performance of the vehicles by reducing the overall weight. There is a growing demand for the efficient and tough bio plastics that are sustainable. The increased use of this material will help in providing better fuel efficiency to the vehicles. Due to all of these reasons the market for the segment is expected to grow.

There has been an increased use of lactic acid in the food and beverages industry as attempts in providing a better shelf life to these products. It does not change the flavor or the texture of these food items and therefore there will be a growth in the demand for this product. It inhibits the development of the microorganisms that hamper the product. There's an increased use of lactic acid in the meat and the seafood industry. It is also used in the processing of various poultry items. Lactic acid is also used in the manufacturing of various drugs and the market for lactic acid in the Pharmaceutical industry has grown in the recent years. There are many characteristics of lactic acid that makes it a better option for usage in the Pharmaceutical industry. Lactic acid happens to be a great pH regulator and do to this there is an increased use of lactic acid in the manufacturing of the pharmaceutical products. Various benefits of the use of lactic acid in improving the texture of the skin Will provide a good market for this product in the cosmetics industry.

Regional insights 

The North American region has dominated the market in the recent years and it is expected to have the largest market share during the forecast period. There's a growing demand for various pharmaceutical products in this region. As there is a growth of various industries in this region the market for lactic acid is expected to grow. Many major market players of the cosmetics industry or the pharmaceutical industry are based in the North American region and therefore the market for lactic acid is expected to grow in this region.

The personal care manufacturers are also based in the North American region. As lactic acid helps in the manufacturing of biodegradable plastics which can be a great alternative for the available packaging in the market. In order to reduce the carbon footprint the government in this nation is taking positive steps and therefore the market for lactic acid is expected to grow in the coming years.

Key market developments in the lactic acid market

• In order to have a new manufacturing plant for lactic acid and amount of U.S. dollar 190 million was invested by Corbion in the year 2020. This plant was expected to be set up in Thailand which would have a great production capacity and would involve low cost.
• FUTERRO Entered into a partnership with BBCA biochemical to open up a new factory for the production of Poly lactic acid.

Key market players

• Corbion (Netherlands)
• DuPont (US)
• Henan Jindan Lacic Acid Technology (China)
• Sulzer (Switzerland)
• Mushashino Chemical (Japan)
• Jungbunzlauer (Switzerland)
• FoodChem International (China)
• Cargill (US)
• Galactic (Belgium)
• DOW (US)
• Unitika (Japan)
• Vaishnavi Biotech (India)
• Spectrum Chemicals (US)
• Godavari Bio-refineries (India)
• ProAgro GmbH (Austria)
• Qingdao Abel Technology (US)
• Vigon International (US)
• Henan Xinghan Biology Technology (China)
• Danimer Scientific (US)
• COFCO BioChemical (China)

Segments covered in the report

(Note*: We offer report based on sub segments as well. Kindly, let us know if you are interested)

By Raw Material

• Corn
• Sugar Cane
• Cassava
• Other Crops

By Application

• Poly lactic acid
• Pharmaceuticals
• Personal care
• Food and beverages
• Industrial
• Others

By Form

• Liquid
• Form

By Source

• Natural
• Synthetic

By End-User

• Packaging
• Textile
• Electronics
• Automotive
• Biomedical
• Other

By Geography

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Malaysia
• Philippines
• Latin America
• Brazil
• Rest of Latin America
• Middle East & Africa (MEA)
• GCC
• North Africa
• South Africa
• Rest of the Middle East & Africa