Lactic Acid Market Size, Share & Trends Analysis Report By Raw Material (Corn, Sugarcane, Cassava, Yeast Extract), By Form (Dry, Liquid), By Application, By Region, & Segment Forecasts, 2024 - 2030
- Report ID: 978-1-68038-126-9
- Number of Report Pages: 130
- Format: PDF, Horizon Databook
- Historical Range: 2018 - 2022
- Forecast Period: 2024 - 2030
- Industry: Specialty & Chemicals
Market Segmentation
- Lactic Acid Raw Material Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- Lactic Acid Form Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Dry
- Liquid
- Lactic Acid Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- Other Applications
- Lactic Acid Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- North America
- North America Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- North America Lactic Acid Market, By Form
- Dry
- Liquid
- North America Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- U.S.
- U.S. Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- U.S. Lactic Acid Market, By Form
- Dry
- Liquid
- U.S. Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- U.S. Lactic Acid Market, By Raw Material
- Canada
- Canada Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- Canada Lactic Acid Market, By Form
- Dry
- Liquid
- Canada Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- Canada Lactic Acid Market, By Raw Material
- Mexico
- Mexico Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- Mexico Lactic Acid Market, By Form
- Dry
- Liquid
- Mexico Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- Mexico Lactic Acid Market, By Raw Material
- North America Lactic Acid Market, By Raw Material
- Europe
- Europe Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- Europe Lactic Acid Market, By Form
- Dry
- Liquid
- Europe Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- Germany
- Germany Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- Germany Lactic Acid Market, By Form
- Dry
- Liquid
- Germany Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- Germany Lactic Acid Market, By Raw Material
- France
- France Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- France Lactic Acid Market, By Form
- Dry
- Liquid
- France Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- France Lactic Acid Market, By Raw Material
- UK
- UK Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- UK Lactic Acid Market, By Form
- Dry
- Liquid
- UK Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- UK Lactic Acid Market, By Raw Material
- Italy
- Italy Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- Italy Lactic Acid Market, By Form
- Dry
- Liquid
- Italy Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- Italy Lactic Acid Market, By Raw Material
- Spain
- Spain Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- Spain Lactic Acid Market, By Form
- Dry
- Liquid
- Spain Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- Spain Lactic Acid Market, By Raw Material
- The Netherlands
- The Netherlands Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- The Netherlands Lactic Acid Market, By Form
- Dry
- Liquid
- The Netherlands Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- The Netherlands Lactic Acid Market, By Raw Material
- Europe Lactic Acid Market, By Raw Material
- Asia Pacific
- Asia Pacific Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- Asia Pacific Lactic Acid Market, By Form
- Dry
- Liquid
- Asia Pacific Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- China
- China Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- China Lactic Acid Market, By Form
- Dry
- Liquid
- China Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- China Lactic Acid Market, By Raw Material
- Japan
- Japan Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- Japan Lactic Acid Market, By Form
- Dry
- Liquid
- Japan Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- Japan Lactic Acid Market, By Raw Material
- Malaysia
- Malaysia Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- Malaysia Lactic Acid Market, By Form
- Dry
- Liquid
- Malaysia Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- Malaysia Lactic Acid Market, By Raw Material
- India
- India Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- India Lactic Acid Market, By Form
- Dry
- Liquid
- India Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- India Lactic Acid Market, By Raw Material
- Indonesia
- Indonesia Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- Indonesia Lactic Acid Market, By Form
- Dry
- Liquid
- Indonesia Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- Indonesia Lactic Acid Market, By Raw Material
- Philippines
- Philippines Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- Philippines Lactic Acid Market, By Form
- Dry
- Liquid
- Philippines Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- Philippines Lactic Acid Market, By Raw Material
- Australia
- Australia Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- Australia Lactic Acid Market, By Form
- Dry
- Liquid
- Australia Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- Australia Lactic Acid Market, By Raw Material
- New Zealand
- New Zealand Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- New Zealand Lactic Acid Market, By Form
- Dry
- Liquid
- New Zealand Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- New Zealand Lactic Acid Market, By Raw Material
- Asia Pacific Lactic Acid Market, By Raw Material
- Central & South America
- Central & South America Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- Central & South America Lactic Acid Market, By Form
- Dry
- Liquid
- Central & South America Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- Brazil
- Brazil Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- Brazil Lactic Acid Market, By Form
- Dry
- Liquid
- Brazil Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- Brazil Lactic Acid Market, By Raw Material
- Central & South America Lactic Acid Market, By Raw Material
- Middle East & Africa
- Middle East & Africa Lactic Acid Market, By Raw Material
- Corn
- Sugarcane
- Cassava
- Yeast Extract
- Other Crops
- Middle East & Africa Lactic Acid Market, By Form
- Dry
- Liquid
- Middle East & Africa Lactic Acid Market, By Application
- Industrial
- Food & Beverages
- Beverages
- Bakery & Confectionary Products
- Dairy Products
- Meat Products
- Other Food Products
- Pharmaceuticals
- Personal Care
- PLA
- Other Applications
- Middle East & Africa Lactic Acid Market, By Raw Material
- North America
Lactic Acid Market Dynamics
Driver: Growing personal care sector
Lactic acid is widely used in the personal care industry for various purposes. It is found in products like shampoos, creams, and other body care formulations. This is because lactic acid has several beneficial characteristics, including its ability to regulate pH levels, act as an antimicrobial agent, and bind moisture to the skin. Additionally, it has skin-lightening properties, promotes collagen and elastin synthesis, and aids in exfoliation and cell renewal. The global cosmetics market is expected to experience significant growth due to various factors. One of these factors is the changing lifestyle of individuals, who are increasingly conscious about enhancing their overall appearance. Moreover, with their growing GDP, countries like India, China, Malaysia, and Sri Lanka are contributing to the expansion of the cosmetics market. To boost global sales, major cosmetic manufacturers are investing in research and development and implementing new product branding and advertising strategies. Manufacturing companies are also adopting innovative strategies, such as launching new products and designing attractive packaging to increase the sales of cosmetic products. Lactic acid is often used in cosmetic formulations as a substitute for glycolic acid. It serves as a skin enhancer and helps promote youthful-looking skin. The demand for perfumes, especially in regions like the Middle East, Latin America, and West Africa, is expected to drive the growth of the cosmetics industry in the forecast period. Men's grooming products and deodorants have also played a significant role in the expansion of the cosmetics industry. The increasing disposable income and growing awareness about personal care and hygiene are expected to drive the cosmetics industry further. Additionally, the establishment of manufacturing bases by companies like Unilever, Johnson & Johnson, and Procter & Gamble in the U.S. contributes to the growth of the cosmetics industry and, consequently, the demand for lactic acid. Furthermore, the rising demand for skincare, hair care, perfumes, deodorants, oral care, and makeup products is expected to fuel the demand for lactic acid in the coming years.
Driver: Growth in the pharmaceutical industry
Lactic acid serves multiple purposes in the pharmaceutical industry, including its use as a chiral intermediate, pH regulator, metal sequestration agent, and natural component of the human body. The pharmaceutical industry has experienced significant growth in recent years, driven by advancements in science and technology. This growth is expected to continue, particularly in emerging countries like China, India, and Brazil. The increasing demand for high-quality pharmaceutical creams and medicines, coupled with the expansion of the pharmaceutical industry, is predicted to drive the demand for lactic acid in the sector. In Europe, the pharmaceutical sector has been a valuable asset to several countries, emerging as a top-performing industry with advanced technology. This is expected to contribute to the growth of the lactic acid market in Europe. The recovery of the pharmaceutical industry in the United States is also anticipated to drive the lactic acid market during the forecast period. Market participants such as Pfizer, Johnson & Johnson, and Merck KGaA and significant research and development investments in the U.S. and Mexico are likely to propel market growth. However, these market participants face intense competition from emerging economies like Brazil, India, and China. Consequently, the expanding pharmaceutical sector is projected to stimulate the demand for lactic acid in the coming years.
Restraint: Volatile raw material prices
Lactic acid is a byproduct of the fermentation process of carbohydrates like glucose, lactose, and fructose. The prices of lactic acid have been affected by the volatility in the prices of raw materials, including sugar and tapioca starch. The cultivation of these raw materials has been severely impacted by global warming and climate changes, mainly due to irregular rainfall, resulting in a decrease in overall crop yield. The effects of El Niño in the Asia Pacific region have also contributed to the irregular rainfall patterns. The fluctuation in starch prices, caused by variations in production yield, is expected to impact the prices of lactic acid. To address these challenges, lactic acid producers are striving to improve efficiency and reduce environmental waste. Companies like Cargill, Incorporated are actively developing innovative processes that require fewer raw materials, thus reducing the production of environmentally harmful byproducts. However, lactic acid prices are anticipated to increase due to rising energy costs and packaging material expenses. Additionally, the fluctuations in raw material prices are expected to affect lactic acid prices negatively. Consequently, many companies are focusing on developing processes that utilize low-priced raw materials to minimize costs.
What Does This Report Include?
This section will provide insights into the contents included in this lactic acid market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Lactic acid market qualitative analysis
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Industry overview
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Industry trends
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Market drivers and restraints
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Market size
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Growth prospects
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Porter’s analysis
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PESTEL analysis
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Key market opportunities prioritized
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Competitive landscape
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Company overview
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Financial performance
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Product benchmarking
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Latest strategic developments
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Lactic acid market quantitative analysis
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Market size, estimates, and forecast from 2018 to 2030
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Market estimates and forecast for product segments up to 2030
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Regional market size and forecast for product segments up to 2030
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Market estimates and forecast for application segments up to 2030
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Regional market size and forecast for application segments up to 2030
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Company financial performance
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