Italy Lactic Acid Market Size & Outlook, 2023-2030
Italy lactic acid market, 2018-2030 (US$M)
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Italy lactic acid market highlights
- The Italy lactic acid market generated a revenue of USD 67.1 million in 2023 and is expected to reach USD 122.2 million by 2030.
- The Italy market is expected to grow at a CAGR of 8.9% 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 67.1 million |
| Market revenue in 2030 | USD 122.2 million |
| Growth rate | 8.9% (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, Italy accounted for 2.0% 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 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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Italy 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% in 2023. Horizon Databook has segmented the Italy lactic acid market based on corn, sugarcane, cassava, other crops covering the revenue growth of each sub-segment from 2018 to 2030.
Polylactic acid is widely used in the production of plastic bottles & films and is one of the key raw materials in the manufacture of bioplastics. Bioplastics comprise a small portion of plastics that are manufactured annually. Therefore, the demand for bioplastics is expected to grow in line with the production capacity of polylactic acid.
Increasing production capacity of biodegradable plastics can be attributed to the accessibility of new varieties of raw material. According to an article by Beauty Packaging, in 2018, Italian contract manufacturers manufactured approximately 50% of makeup products distributed around the world.
Lactic acid is used in personal care segment to revitalize the skin by peeling old skin cells. It reduces the appearance of irregular pigmentation, age spots, and enlarged pores. It is actively becoming a better choice for primary users with sensitive skin. This is projected to drive the market 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 Italy lactic acid market , including forecasts for subscribers. This country databook contains high-level insights into Italy lactic acid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Italy lactic acid market size, by raw material, 2018-2030 (US$M)
Italy Lactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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