Global Lactic Acid Market Value to cross USD 9.92 BN By 2026
Posted On October 17, 2020
A market research report anticipates the Global Lactic Acid Market to reach USD 3.12 BN in 2019. It is estimated to grow and reach USD 9.92 BN mark by 2026. The report publisher, Value Market Research expects a CAGR of 18% during 2020 to 2026. Lactic acid is an alpha-hydroxy acid that is developed naturally and by artificial synthesis for commercial purposes. This acid produced in humans during normal metabolism and exercise is manufactured industrially for many commercial purposes. This basic building block of polylactic acid is used in various cosmetics, personal care products, pharmaceuticals, and food products. The different other niches of the acid include cleaning agents in semiconductor and electronics, leather tanning, and biodegradable polymers for packaging and medical devices. This acid, a well-known metabolic product in sports, health, and fitness, is available in various grades based on its application.
The diverse applications of lactic acid in the commercial sector will be the trending factor for this market's growth. The various emerging products like biodegradable plastic and the environmentally benign solvents will further motivate the market growth. The increased adoption of this environment-friendly acid in food, textiles, and the pharmaceutical industry will be a market booster. Rising preferences for organic personal grooming products will facilitate the development of this market. Changing lifestyles is leading to growth in the demand of cosmetic and personal care products which is anticipated to stimulate production of lactic acid on a massive scale. The challenges faced by this market are high installation costs and volatility of the price of raw materials.
The first chapter of the report "Global Lactic Acid Market Report By Source (Natural, Synthetic), By End-User (Personal Care, Chemical, Pharmaceutical, Food And Beverage, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026" gives the market introduction with a crisp summary of the report and goes in detailed revenue analysis bifurcated as per segments and regions in the subsequent chapters.
The study digs deep to identify the market drivers, restraints, opportunities and threats in the near future. By source the market is divided into Natural, Synthetic. By end-user the market is segregated as Personal Care, Chemical, Pharmaceutical, Food and Beverage, Others. The report identifies region which is expected to dominate the market over the next six years among all the regions studied in the report. North America, Europe, Latin America and Middle East & Africa are deeply researched in the report.
The Report Segments Global Lactic Acid Market -
- Personal Care
- Food and Beverage
- North America
- Latin America
- Middle East & Africa
Players Profiled In the Report:
Corbion, NatureWorks LLC, Galactic, Henan Jindan Lactic Acid Technology Co., Ltd., Synbra Technology BV.
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