Mexico Lactic Acid Market Size & Outlook, 2023-2030
Mexico lactic acid market, 2018-2030 (US$M)
Related Markets
Mexico lactic acid market highlights
- The Mexico lactic acid market generated a revenue of USD 39.2 million in 2023 and is expected to reach USD 57.9 million by 2030.
- The Mexico market is expected to grow at a CAGR of 5.7% 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 39.2 million |
| Market revenue in 2030 | USD 57.9 million |
| Growth rate | 5.7% (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, Mexico accounted for 1.2% 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 North America, U.S. lactic acid market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 2,422.6 million by 2030.
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Lactic Acid Market Scope
Lactic Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico 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 38.52% in 2023. Horizon Databook has segmented the Mexico lactic acid market based on corn, sugarcane, cassava, other crops covering the revenue growth of each sub-segment from 2018 to 2030.
Elimination of stringent regulations that restricted the establishment of new pharmaceutical manufacturing units by the government of Mexico has resulted in the development of new manufacturing facilities by key players including Takeda, Daiichi Ranbaxy, and Astellas.
In addition, growing pharmaceutical industry in Mexico, owing to government support and high investments by local participants, is expected to fuel pharmaceutical industry expansion over the coming years, further contributing to lactic acid market growth. Lactic acid is used as a pH regulator and a starting material in the synthesis of pharmaceutical products.
Various applications such as controlled drug delivery systems, prostheses, surgical sutures parenteral/I.V. solutions, and dialysis solutions are expected to drive the demand for lactic acid in pharmaceutical industry. In addition, lactic acid finds extensive application in the Mexican food & beverage industry.
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Our clientele includes a mix of lactic acid market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico lactic acid market , including forecasts for subscribers. This country databook contains high-level insights into Mexico lactic acid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico lactic acid market size, by raw material, 2018-2030 (US$M)
Mexico Lactic Acid Market Outlook Share, 2023 & 2030 (US$M)
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