Global Lactic Acid Market Size & Outlook
The lactic acid industry worldwide is expected to reach a projected revenue of US$ 5,803.4 million by 2030. A compound annual growth rate of 8.1% is expected of the worldwide lactic acid industry from 2024 to 2030.
Revenue, 2023 (US$M)
$3,367.7
Forecast, 2030 (US$M)
$5,803.4
CAGR, 2024 - 2030
8.1%
Report Coverage
Worldwide
Global lactic acid market, 2018-2030 (US$M)
Related Markets
Global lactic acid market highlights
- The global lactic acid market generated a revenue of USD 3,367.7 million in 2023 and is expected to reach USD 5,803.4 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 8.1% by 2030.
- In terms of segment, sugarcane accounted for a revenue of USD 1,306.1 million in 2023.
- Cassava is the most lucrative raw material segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 3,367.7 million |
| Market revenue in 2030 | USD 5,803.4 million |
| Growth rate | 8.1% (CAGR from 2023 to 2030) |
| Largest segment | Sugarcane |
| Fastest growing segment | Cassava |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Corn, Sugarcane, Cassava, Other Crops |
Other key industry trends
- In terms of revenue, the North America accounted for 45.2% of the global lactic acid market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Mexico is the fastest growing regional market and is projected to reach USD 57.9 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Lactic Acid Market Scope
Lactic acid market segmentation & scope
Lactic Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global lactic acid market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to lactic acid market will help companies and investors design strategic landscapes.
sugarcane was the largest segment with a revenue share of 38.78% in 2023. Horizon Databook has segmented the Global lactic acid market based on corn, sugarcane, cassava, other crops covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Lactic Acid Raw Material Outlook (Revenue, USD Million, 2018-2030)
- Corn
- Sugarcane
- Cassava
- Other Crops
- Global Lactic Acid Application Outlook (Revenue, USD Million, 2018-2030)
- Industrial
- Food & Beverages
- Pharmaceuticals
- Personal Care
- Polylactic Acid
- Other Applications
Reasons to subscribe to Global lactic acid market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of Global lactic acid market databook
-
Our clientele includes a mix of lactic acid market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of global-level data and insights on the Global lactic acid market , including forecasts for subscribers. This global databook contains high-level insights into Global lactic acid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Global lactic acid market statistics, by regions, 2018-2030 (US$M)
Top 10 countries: Lactic acid market size, 2023 (USD Million)
Top 10 countries: Lactic acid market size, 2023 (USD Million)
Global lactic acid market, by region, 2023 (US$M)
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
