Lactic Acid Market

Global Lactic Acid Market Size (2024 to 2029):

The Global Lactic Acid Market size was valued at USD 2.12 billion in 2024 and is expected to reach USD 5.0 billion by 2029, with a compound annual rate of 18.7% from 2024 to 2029.

Lactic acid forms an essential industrial product, which is used in the formation of several small or large compounds. Lactic acid is formed by the breakdown of glucose and its oxidation. It can be processed naturally and synthetically. The fermentation process forms the naturally obtained lactic acid with the aid of bacterial reaction, where the main bacteria involved in the process are lactobacillus, bifid bacterium, pediococcus, among others.

Furthermore, lactic acid is also naturally present in the human body obtained from glycogen through muscle cells to support energy production when the oxygen supply is insufficient in the body. However, chemically lactic acid is derived from the hydrolysis of Lacto-nitrile. Lactic acid has wide applications in the food industry, as it helps regulate the microflora in food and acts as a food preservative. It is formed by the natural fermentation process in food products such as cheese, soy sauce, pickled vegetables, among others. In addition to the food industry, it is widely used in the pharmaceutical and chemical industries. Lactic acid polymers are widely used as labeling and packaging material because they are biodegradable and biocompatible in nature; they are used in the manufacture of sutures, drugs and prosthetic devices.

In the review period, food and beverages application accounted for the largest share of the global market, followed by industrial applications. The food and beverages segment accounted for more than 40% share of the overall revenue in the previous years. But industrial applications are projected to be the fastest-growing application of lactic acid. It is supposed to grow at a CAGR of 18.3% thorough out the foreseen period.

Global Lactic Acid Market Market Drivers and Restraints:

The general applicability of lactic acid in several sectors is stimulating demand in the worldwide market. Lactic acid has several distinctive characteristics, which have different roles to play in different food segments. In poultry and fish products, lactic acid helps extend its shelf life while preventing the growth of pathogenic bacteria. In pickled vegetables and salad dressings, lactic acid helps prevent deterioration and improves product safety.

In contrast, in dairy products, some bacteria break down milk sugar into lactic acid, which gives creamy texture and flavor. Products such as yogurt whose taste and composition depend on the presence of lactic acid. Therefore, a broad spectrum of applicability in the food industry stimulates the growth of the global lactic acid market. Thanks to the antimicrobial and moisturizing properties of lactic acid, it has a revitalizing effect on the skin. Therefore, it is gaining popularity among cosmetic manufacturers. In other non-food applications, lactic acid is available in a myriad of forms that are widely used in various industrial applications, such as the pharmaceutical, chemical, and textile industries, thus driving the growth of the global lactic acid market.

The main challenge faced by the worldwide lactic acid market is the lactic acid fermentation process that requires technological optimization and product purification. Furthermore, this biotechnological production, therefore, requires an optimization of nutrients, which entails high manufacturing costs. As a result, it slows the growth of the global lactic acid business.

REPORT COVERAGE: 

This research report on the Global Lactic Acid Market has been segmented and sub-segmented based on application, and region. 

Global Lactic Acid Market – By Application:

• Electronics
• Agriculture
• Packaging, textile
• Biomedical
• Others

In the marine sector, lactic acid is used as a descaling agent which is resulting in increasing use expected to drive the market in regions like Australia, UK, and UAE. The personal care segment is expected to grow at a significant rate in regions like the Middle East, Latin America and Western parts of Africa.

Global Lactic Acid Market – By Region :

• North America
• Europe
• The Asia Pacific
• Latin America 
• The Middle East and Africa

North America's lactic acid market has become an industry leader due to the presence of key manufacturers such as Danimer Scientific LLC, Nature Works LLC, Hawkins, Inc and Spectrum Chemical Manufacturing Corp. APL is the largest growing segment in this region, followed by food and beverages, industrial and pharmaceutical.

Asia Pacific lactic acid market is the second largest region with 25.6% of revenue share in 2018 and is expected to continue to dominate during the forecast period. The rapid industrialization of personal care products in China, India, and Japan, as well as government support for infrastructure development, should boost the growth of the Lactic Acid Market over the next seven years.

The UK is presumed to be the leading consumer of pharmaceutical applications in the European lactic acid market due to secure access to health services, an increasing population of older people, and rising rates of illness. According to the British Pharmaceutical Industry Association, the pharmaceutical industry is known as the sixth-largest contributor to economic development.

The growth of the cosmetic industry in countries such as Brazil and Argentina should stimulate the overall demand of the market in the region of Central and South America. The growth of the personal care industry in Brazil due to the increase in spending on beauty and personal care products is foreseen to force consumer goods companies to increase their production capacity in this area.

KEY MARKET PLAYERS:

Major Key Players in the Global Lactic Acid Market are BASF SE (Germany),CSM N.V. (The Netherlands), The Dow Chemical Company (U.S.), Teijin Ltd. (Japan), NatureWorks LLC (U.S), Corbion, Musashino Chemical (China) Co., Ltd, Henan Jindan Lactic Acid Technology Co., Ltd, Galactic, Futerro

RECENT HAPPENINGS  IN THE MARKET:

Corbion N.V. Acquired the Archer Daniels Midland (ADM) lactic acid business for an undisclosed amount of cash, the company announced Friday. The agreement, which entered into force on March 31, 2015, includes the sale and delivery of products of lactic acid, sodium lactate, and potassium lactate, but does not include production facilities and personnel. Corbion said production would be absorbed at its existing facilities and added that the acquisition "would further strengthen Corbion's position in this market.