Middle East & Africa Lactic Acid Market Size & Outlook
Middle East & Africa lactic acid market, 2018-2030 (US$M)
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MEA lactic acid market highlights
- The MEA lactic acid market generated a revenue of USD 131.2 million in 2023.
- The market is expected to grow at a CAGR of 7.3% 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.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 131.2 million |
| Market revenue in 2030 | USD 214.3 million |
| Growth rate | 7.3% (CAGR from 2023 to 2030) |
| Largest segment | Sugarcane |
| Fastest growing segment | Cassava |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, MEA region accounted for 3.9% of the global lactic acid market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,533.3 million by 2030.
Key Regions: U.S. , UK , Japan , Brazil , South Africa
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Lactic Acid Market Scope
Lactic Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa 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 37.96% in 2023. Horizon Databook has segmented the Middle East & Africa lactic acid market based on corn, sugarcane, cassava, other crops covering the revenue growth of each sub-segment from 2018 to 2030.
High demand for lactic acid in cosmetic industry in countries including the U.A.E., Kuwait, and Saudi Arabia on account of its various properties such as skin-rejuvenation, pH regulation, and anti-acne effects are proposed to stimulate its industry penetration.
Young and dynamic population along with high purchasing power is expected to contribute to the market growth over the forecast period. Additionally, food & beverage sector in the Middle East region has been ripe with several growth opportunities for international investors.
Reliance on food trade, international tastes, changing consumer preferences and lifestyles, strategic geographic position, and gulf food programs have substantially contributed to the development of food & beverages industry in the region, which is further estimated to trigger the demand for lactic acid in the near future.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa lactic acid market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa lactic acid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA lactic acid market size, by country, 2018-2030 (US$M)
Middle East & Africa Lactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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