According to the current analysis of Reports and Data, the global Lactic Acid Market was valued at USD 1.2 billion in 2020 and is expected to reach value of 2.5 billion by 2028, expanding at a CAGR of 12.5% during the forecast period. The global lactic acid market is highly driven by high demand for lactic acid and polylactic acid in end-user applications and rise in demand for alternative environment-friendly resources.
Lactic acid is a naturally occurring organic acid that is used in a wide range of industries, including cosmetics, pharmaceuticals, chemicals, food, and, most recently, medicine. Lactic acid can be made by the fermentation of sugar obtained from renewable resources, making it an environmentally beneficial product that has received a lot of attention in recent years.
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Key participants in the lactic acid market are Corbion (Netherlands), DuPont (U.S.), Cargill (U.S.), Galactic (Belgium), Dow (U.S), Unitika Ltd. (Japan), Henan Jindan Lactic Acid (China), Sulzer (Switzerland), Musashino Chemical (China), and Vigon International (U.S.)
For the purpose of this study, Reports and Data have segmented Lactic Acid market on the basis of Application, Form, End-User and Region:
Application Outlook (Revenue in Million USD; 2018–2028)
Form Outlook (Revenue in Million USD; 2018–2028)
End-User Outlook (Revenue in Million USD; 2018–2028)
Regional Outlook (Revenue in Million USD; 2018–2028)
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Further key findings from the report suggest
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Key insights presented in the report:
Table Of content:
Chapter 1. Market Synopsis
1.1. Market Definition 1.2. Research Scope & Premise 1.3. Methodology 1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Indicative Metrics
Chapter 4. Lactic Acid Segmentation & Impact Analysis
4.1. Lactic Acid Segmentation Analysis 4.2. Lactic Acid Market Value Chain Analysis, 2018 – 2028 4.3. Regulatory framework 4.4. Lactic Acid Market Impact Analysis 4.4.1. Market driver analysis
Continued…
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