Argentina Lactic Acid Market Size & Outlook, 2023-2030
Argentina lactic acid market, 2018-2030 (US$M)
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Argentina lactic acid market highlights
- The Argentina lactic acid market generated a revenue of USD 33.4 million in 2023 and is expected to reach USD 54.8 million by 2030.
- The Argentina market is expected to grow at a CAGR of 7.3% from 2024 to 2030.
- In terms of segment, sugarcane was the largest revenue generating raw material in 2023.
- Cassava is the most lucrative raw material segment registering the fastest growth during the forecast period.
Lactic acid market data book summary
| Market revenue in 2023 | USD 33.4 million |
| Market revenue in 2030 | USD 54.8 million |
| Growth rate | 7.3% (CAGR from 2023 to 2030) |
| Largest segment | Sugarcane |
| Fastest growing segment | Cassava |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Corn, Sugarcane, Cassava, Other Crops |
| Key market players worldwide | Basf SE, Virgin Galactic Holdings Inc Shs A, Corbion NV, Dow Inc, Teijin Ltd, Thyssenkrupp AG, Jungbunzlauer Suisse, Danimer Scientific Inc Ordinary Shares - Class A |
Other key industry trends
- In terms of revenue, Argentina accounted for 1.0% of the global lactic acid market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil lactic acid market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 97.9 million by 2030.
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Lactic Acid Market Scope
Lactic Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
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Argentina 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 38.02% in 2023. Horizon Databook has segmented the Argentina lactic acid market based on corn, sugarcane, cassava, other crops covering the revenue growth of each sub-segment from 2018 to 2030.
In Argentina, fermented artisanal food such as pickles and canned vegetables are widely accepted as appetizers in every household. The preparation of such pickles includes lactic acid, which in turn, positively favors the product demand.
The country is a sizeable manufacturer of agricultural products, leading to a surge in the demand for food items across the country. Additionally, high growth in the pharmaceutical industry in Argentina is expected to propel the lactic acid industry growth.
Many multinational pharmaceutical companies are intensifying their participation in the Argentina pharmaceutical market, which is further estimated to trigger lactic acid demand in the country over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the Argentina lactic acid market , including forecasts for subscribers. This country databook contains high-level insights into Argentina lactic acid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Argentina lactic acid market size, by raw material, 2018-2030 (US$M)
Argentina Lactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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