India Lactic Acid Market Size & Outlook, 2023-2030
India lactic acid market, 2018-2030 (US$M)
Related Markets
India lactic acid market highlights
- The India lactic acid market generated a revenue of USD 64.3 million in 2023 and is expected to reach USD 118.8 million by 2030.
- The India market is expected to grow at a CAGR of 9.2% 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 64.3 million |
| Market revenue in 2030 | USD 118.8 million |
| Growth rate | 9.2% (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, India accounted for 1.9% 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 Asia Pacific, China lactic acid market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 59.8 million by 2030.
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Lactic Acid Market Scope
Lactic Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
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India 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 38.41% in 2023. Horizon Databook has segmented the India lactic acid market based on corn, sugarcane, cassava, other crops covering the revenue growth of each sub-segment from 2018 to 2030.
Population growth, rapid urbanization, rising disposable income, and employment in India have played an important role in developing food & beverage manufacturing plants in the region. In addition, rising demand for high SPF cosmetic products is expected to complement market growth over the next few years.
Continuing further, India is one of the fastest-growing economies in the region with a substantial percentage of population without access to safe and affordable medical services.
With respect to this, major government rollouts to improve public health infrastructure are expected to have a positive impact on the demand for healthcare products such as clinical nutrition, OTC, food supplements, and pharmaceutical products, thereby fueling the demand for lactic acid market over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the India lactic acid market , including forecasts for subscribers. This country databook contains high-level insights into India lactic acid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India lactic acid market size, by raw material, 2018-2030 (US$M)
India Lactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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