Brazil Lactic Acid Market Size & Outlook, 2023-2030
Brazil lactic acid market, 2018-2030 (US$M)
Related Markets
Brazil lactic acid market highlights
- The Brazil lactic acid market generated a revenue of USD 57.9 million in 2023 and is expected to reach USD 97.9 million by 2030.
- The Brazil market is expected to grow at a CAGR of 7.8% 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 57.9 million |
| Market revenue in 2030 | USD 97.9 million |
| Growth rate | 7.8% (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, Brazil accounted for 1.7% 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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Brazil 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 38.51% in 2023. Horizon Databook has segmented the Brazil lactic acid market based on corn, sugarcane, cassava, other crops covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing sales of medicines in the country due to economic growth along with rapid industrialization is expected to stimulate demand for lactic acid over the forecast period. Increasing government support for domestic production of medicines will boost the pharmaceutical sector.
Brazil is considered as one of the prominent export markets for the U.S. cosmetics and personal care products; the industry represents approximately 1.8% of the country’s GDP. Increasing demand for personal care products in Brazil owing to their extensive use by working women is expected to contribute to lactic acid market growth in the near future.
Food & beverages sector is expected to witness moderate growth on account of growing food & beverages output in the country due to favorable regulatory support. Additionally, implementation of Economic Stabilization Program (The Real Plan) at domestic level has played a crucial role in augmenting market growth.
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Horizon Databook provides a detailed overview of country-level data and insights on the Brazil lactic acid market , including forecasts for subscribers. This country databook contains high-level insights into Brazil lactic acid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Brazil lactic acid market size, by raw material, 2018-2030 (US$M)
Brazil Lactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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