Japan Lactic Acid Market Size & Outlook, 2023-2030
Japan lactic acid market, 2018-2030 (US$M)
Related Markets
Japan lactic acid market highlights
- The Japan lactic acid market generated a revenue of USD 181.4 million in 2023 and is expected to reach USD 319.1 million by 2030.
- The Japan market is expected to grow at a CAGR of 8.4% 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 181.4 million |
| Market revenue in 2030 | USD 319.1 million |
| Growth rate | 8.4% (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, Japan accounted for 5.4% 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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Japan 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 38.7% in 2023. Horizon Databook has segmented the Japan lactic acid market based on corn, sugarcane, cassava, other crops covering the revenue growth of each sub-segment from 2018 to 2030.
Japan is expected to witness substantial market growth on account of technological developments, which have spurred the growth of the industry’s customization needs, consequently improving the demand for lactic acid in the country.
The increasing use of lactic acid in packaging applications is expected to witness a rise owing to the increasing demand for medical equipment by hospitals in urban areas. In addition, the increasing use of medical packaging in order to prevent infections and maintain health & safety standards is expected to positively impact the market growth.
In addition, strong manufacturing base of personal care industries in Japan along with government initiatives toward economic development is likely to increase the market share in near future. Growing usage of cosmetic products such as sunscreens, makeup creams, and lotions among younger population is also expected to have a major impact on the market growth.
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Horizon Databook provides a detailed overview of country-level data and insights on the Japan lactic acid market , including forecasts for subscribers. This country databook contains high-level insights into Japan lactic acid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Japan lactic acid market size, by raw material, 2018-2030 (US$M)
Japan Lactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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