Lactic Acid Market 2030: Key Companies, Player Strategies & Forecast

Future Global Lactic Acid Market: Key Dynamics, Size & Share Analysis

The Global Lactic Acid Market size was valued at around USD 2,982 million in 2024 and is expected to reach USD 5,728 million in 2030. Along with this, the market is estimated to grow at a CAGR of around 11.49% during the forecast period, i.e., 2025-30.

Top Driver Impacting the Global Lactic Acid Market Growth

Increasing Demand for Bioplastics – The extensive use of plastics all around the world is creating awareness to save the environment by using eco-friendly resources such as bioplastics. This has increased the demand for organic products such as lactic acid, which is a great source of bioplastics, including PLA. Traditional plastics are very harmful to the environment and human health, as they generate plastic pollution. For instance, as per UNEP (2023), more than 400 million tons of plastic are produced annually, out of which, only 10% of the plastic is recycled. The remaining 90% of it gets accumulated in the surroundings and landfills, which creates plastic pollution. Consequently, the lactic acid-based PLA has grown recently.

PLA reduces about 60% of the carbon emissions as compared to traditional petrochemical-based plastics. As a result, over 20 countries such as the United States, China, Thailand, Japan, Germany, and France have started producing Lactic acid-derived PLA on a commercial scale. For instance, China’s PLA production has reached up to 1.5 million tons per year, and India has a production capacity of about 1,80,000 tons per annum, thus, the market is growing significantly.

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Understanding the Core Segments in the Lactic Acid Market

Lactic Acid Market Size, Share & Industry Trends Analysis - By Raw Material (Corn, Sugarcane, Cassava, Yeast Extract, Other Crops), By Application (Industrial, Food & Beverages, [Beverages, Bakery & Confectionary Products, Dairy Products, Meat Products, Others), Pharmaceuticals, Personal Care, Polylactic Acid (PLA), Others]), By Form (Liquid, Solid), and others

Geographical Analysis of the Smart Irrigation Market

-By Region

North America
South America
Europe
The Middle East & Africa
Asia-Pacific

North America holds the largest market share of more than 39%. North America is one of the largest global producers of agricultural feedstock, including corn and sugarcane. For instance, in 2023, the production of sugarcane in the United States was approximately 30 million metric tons.

Who Dominates the Lactic Acid Market Insights on Key Industry Players?

Companies are strengthening their presence in the Lactic Acid market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services

BASF SE
Corbion N.V.
Corbion N.V.
Galactic
NatureWorks LLC
CELLULAC
Futerro
DOW Chemical
Sulzer Ltd.
GODAVARI BIOREFINERIES LTD.
Cargill, Incorporated
Kemin Industries, Inc.
Henan Jindan Lactic Acid Technology Co., Ltd.
Vaishnavi Bio Tech
Musashino Chemical
Jungbunzlauer Suisse AG
Others

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