Germany Lactic Acid Market Size & Outlook, 2023-2030
Germany lactic acid market, 2018-2030 (US$M)
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Germany lactic acid market highlights
- The Germany lactic acid market generated a revenue of USD 122.7 million in 2023 and is expected to reach USD 207.7 million by 2030.
- The Germany 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 122.7 million |
| Market revenue in 2030 | USD 207.7 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, Germany accounted for 3.6% 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 Europe, UK lactic acid market is projected to lead the regional market in terms of revenue in 2030.
- Italy is the fastest growing regional market in Europe and is projected to reach USD 122.2 million by 2030.
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Lactic Acid Market Scope
Lactic Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
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Germany 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 38.88% in 2023. Horizon Databook has segmented the Germany lactic acid market based on corn, sugarcane, cassava, other crops covering the revenue growth of each sub-segment from 2018 to 2030.
Rising demand for biodegradable plastics in Germany is expected to fuel the demand for lactic acid. The growing interest of men toward skincare products in the country to look young and get relief from fatigue & stress is expected to augment the consumption of lactic acid over the forecast period.
In addition, new product launches for skincare in Germany along with spreading out of distribution channels is expected to augment the growth of the lactic acid market in the country over the forecast period. In Germany, consumers are well informed and seek less harmful products, in terms of chemical composition.
Over the last few years, there has been a considerable shift in consumer preference toward organic or chemical-free products in the country. With respect to this, vendors in personal care, food & beverage, and detergent industries are focusing more on providing lactic acid-based products to keep up with emerging trends.
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Horizon Databook provides a detailed overview of country-level data and insights on the Germany lactic acid market , including forecasts for subscribers. This country databook contains high-level insights into Germany lactic acid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Germany lactic acid market size, by raw material, 2018-2030 (US$M)
Germany Lactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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