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乳酸市場：用途別（生分解性ポリマー、食品・飲料、医薬品）、原料別、形態別（乾燥・液体）、地域別, ポリ乳酸市場：用途別、形態別、地域別 - 2028年までの世界予測


Lactic Acid Market by Application (Biodegradable Polymers, Food & Beverages, Pharmaceutical Products), Raw Materials, Form (Dry and Liquid), and Region, Polylactic Acid Market, Application, Form, and Region - Global Forecast to 2028

世界の乳酸市場規模は2028年までに28億米ドルに達すると予測され、金額ベースのCAGRは12.4%を記録する。ポリ乳酸の世界市場規模は2028年までに29億米ドルに達すると予測され、金額ベースでCAGR 17.7%を記録する。... もっと見る

　

　

出版社 出版年月 電子版価格 ページ数 図表数 言語
MarketsandMarkets
マーケッツアンドマーケッツ 		2023年6月16日 US$4,950
シングルユーザライセンス
ライセンス・価格情報・注文方法はこちら 		282 345 英語

日本語のページは自動翻訳を利用し作成しています。


　

サマリー

世界の乳酸市場規模は2028年までに28億米ドルに達すると予測され、金額ベースのCAGRは12.4%を記録する。ポリ乳酸の世界市場規模は2028年までに29億米ドルに達すると予測され、金額ベースでCAGR 17.7%を記録する。
"石油化学ベースの製品の持続可能な代替品に対する顧客需要の急増が、乳酸市場の成長を大きく牽引している。"
環境への関心の高まりにより、環境に優しいソリューションが重視されるようになっている。トウモロコシのデンプンやサトウキビのような再生可能な資源に由来する乳酸は、石油化学製品に代わるより環境に優しい代替品を提供する。企業が二酸化炭素排出量を削減し、持続可能性を推進しようと努力する中、乳酸の需要は顕著に急増している。乳酸の生分解性には大きな利点がある。有害な残留物を残したり、環境汚染に貢献したりすることなく、自然に分解することができる。この特性は、包装やプラスチックなど生分解性材料を必要とする産業において特に有利であり、乳酸は有効な選択肢となり得る。政府や規制機関は、石油化学製品に代わる持続可能な代替品の使用をますます推進している。さまざまな取り組みや規制がバイオベースや再生可能な材料の採用を奨励しており、乳酸市場にさらなる弾みをつけている。
"ポリ乳酸市場では欧州が最も高いシェアを占めると予想され、予測期間中に33.4%と評価される"
2023年、ポリ乳酸の世界市場における市場規模のうち、ヨーロッパは4億米ドルを占める。欧州のポリ乳酸（PLA）市場は、同地域の持続可能性と環境意識への強いこだわりが原動力となり、著しい成長を遂げている。消費者、企業、政府の間で、従来のプラスチックが環境に与える悪影響に対する意識が高まっている。生分解性で再生可能な代替品として、PLAはプラスチック廃棄物と二酸化炭素排出量を削減するソリューションとして広く受け入れられている。欧州各国政府は、持続可能な材料の使用とプラスチック廃棄物の削減を奨励する厳しい規制と政策を実施しており、PLAのようなバイオベース・生分解性プラスチックの採用に有利な環境を提供している。一部のプラスチック製品の容積と環境への影響は、いずれもEU規制の対象となっている。EUはプラスチック汚染と闘うための措置を講じている。EU加盟国の市場では2021年7月3日から、使い捨てのプラスチック皿、カトラリー、ストロー、風船棒、綿棒が非合法化された。このような規制的支援は、企業が包装、外食製品、その他の用途でPLAに移行する動機付けとなり、市場成長を促進する。



"トウモロコシは乳酸の生産に最も頻繁に使用される原料である"
とうもろこしは豊富に入手でき、広く栽培されているため、乳酸製造のための信頼性が高く、費用対効果の高い原料となっている。広く栽培されているため、サプライチェーンが安定し、原料の安定供給が可能である。さらに、トウモロコシにはデンプンが多く含まれており、乳酸発酵の主要基質であるグルコースに容易に変換することができる。トウモロコシのデンプンを効率的にグルコースに変換することで、高い収率と費用対効果の高い乳酸生産が可能になる。さらに、とうもろこし加工における確立されたインフラと専門知識により、原料の効率的な抽出と加工が可能となり、乳酸製造業者にとって好ましい選択肢となっている。乳酸生産における主原料としてのトウモロコシの利用は、その経済性、入手可能性、転換の容易さと一致しており、業界において実用的で広く採用される選択肢となっている。
"乳酸市場のアプリケーションセグメントのベーカリー＆製菓サブセグメントは、2028年に3億米ドルで最大の価値が予想される"
製菓・製パン品目市場は、コンビニエンス・フード需要の増加と、魅力的で美味しく食感の良いお菓子に対する消費者の欲求により、徐々に上昇している。ベーカリー製品の入手しやすさ、手頃な価格、栄養価の高さは、現代市場においてベーカリー製品が存在し続けることにさらに影響を与えている要素である。ベーカリーの製品は多くの顧客の食生活の主食となっている。そのため、香ばしく食感の良い焼き菓子を作るために使われる様々な製パン材料の需要が高まっている。米国ベーカリー協会は、ベーカリー製品が米国の国内総生産の約2.1％を占めると推定している。乳酸は、ベーカリーや製菓製品の品質と保存性を高める万能な成分として機能する。天然の保存料として働き、カビやバクテリアの繁殖を抑制することで、製品の鮮度を長持ちさせ、人工的な添加物の必要性を減らしている。さらに、乳酸は焼き菓子や菓子の好ましい食感、風味、色調の向上に寄与する。乳酸はマイルドな酸味を付与し、パン、ペストリー、キャンディーなど様々な製品の味覚に複雑さと深みを加える。天然素材に対する消費者の要求が高まる中、乳酸は、クリーンラベルの要件に沿いながら複数の機能を果たす能力を持っており、ベーカリー・菓子業界にとって魅力的な選択肢となっている。

"世界の乳酸市場の液体セグメントは、予測される年に成長し、最大の市場シェアを持つと予測されている。"
2023年、市場は液状カテゴリーが牽引。液体乳酸の多用途性が市場成長の大きな原動力になると予想される。液体乳酸は、食品・飲料、医薬品、パーソナルケア、洗浄剤など、さまざまな産業にわたって幅広い用途を提供する。液状であるため、さまざまな製剤に容易に組み込むことができ、多様な製品要件に適応できる。食品業界では、液体乳酸は天然の保存料、pH調整剤、風味増強剤として機能し、様々な製品の保存期間と味を向上させます。乳製品、ベーカリー、製菓、食肉加工などで使用されている。製薬業界では、液体乳酸は医薬品の製剤化、放出制御システム、医薬品有効成分の合成におけるキラル中間体として利用されている。パーソナルケア産業では、保湿、剥離、pHバランス特性により、スキンケア、ヘアケア、化粧品に使用され、利益を得ている。さらに、液体乳酸は生分解性ポリマー、洗浄剤、工業用途の生産において重要な役割を果たしている。液体乳酸の幅広い用途と汎用性により、産業界がその利点をますます認識し、革新的な方法で活用するにつれて、液体乳酸市場は成長の態勢を整えている。
乳酸市場における主要参入企業のプロファイルの内訳：
 企業別：ティア1- 35%、ティア2- 25%、ティア3- 40
 役職別：管理職 - 40%、CXO - 35%、経営幹部 - 25
 地域別：北米：15%、欧州：30%、アジア太平洋地域：45%、アジア太平洋地域：10

主な企業は、Corbion（オランダ）、Cargill, Incorporated（米国）、Galactic（ベルギー）、Unitika Ltd（日本）、Henan Jindan lactic acid Technology Co., Ltd.（中国）、TORAY INDUST.(Ltd.（中国）、東レ株式会社（日本）、Sulzer Ltd.（中国）などがある。

調査範囲
本レポートでは、乳酸市場を原料（トウモロコシ、キャッサバ、サトウキビ、酵母エキスなど）、形態（乾燥、液体）、用途（生分解性ポリマー、食品・飲料、医薬品）、地域別に分類している。ポリ乳酸市場は、用途（包装、繊維・織物、農業）、地域別に区分されている。.本レポートの対象範囲には、乳酸市場に影響を与える主要要素（促進要因、阻害要因、課題、機会など）に関する具体的な情報が含まれています。業界トップ企業の包括的な評価を実施し、事業概要、製品、サービス、重要戦略、契約、パートナーシップ、協定、新製品・サービスの導入、買収・合併、乳酸市場に影響を与える現在の動向に関する洞察を提供しています。本調査は、乳酸市場環境における将来の新興企業の競争分析をカバーしています。
このレポートを購入する理由
本レポートは、乳酸市場全体とサブセグメントの収益数の最も近い近似値に関する情報を提供し、この市場の市場リーダー/新規参入者に役立ちます。本レポートは、利害関係者が競争状況を理解し、自社のビジネスをより良く位置づけ、適切な市場参入戦略を計画するためのより多くの洞察を得るのに役立ちます。また、本レポートは、利害関係者が市場の鼓動を理解するのに役立ち、主要な市場促進要因、阻害要因、課題、および機会に関する情報を提供します。
本レポートは、以下のポイントに関する洞察を提供しています：
- 乳酸市場の成長に影響を与える主な促進要因（エンドユーザー用途における乳酸とポリ乳酸の需要の高さ）、抑制要因（原材料価格の変動）、機会（バイオプラスチックの使用を奨励する政府の規制と枠組み）、課題（中小企業に関わる初期投資コストの高さ）の分析。
- 製品開発／イノベーション：乳酸市場における研究開発活動、新製品・新サービスの発表に関する詳細な洞察。
- 市場開発：有利な市場に関する包括的な情報 - 当レポートでは、様々な地域の乳酸市場を分析しています。
- 市場の多様化：乳酸市場における新製品＆サービス、未開拓の地域、最近の開発、投資に関する詳細な情報。
- 競争力の評価：Corbion社（オランダ）、Cargill, Incorporated社（米国）、Galactic社（ベルギー）、Unitika Ltd社（日本）など、乳酸市場戦略における主要企業の市場シェア、成長戦略、サービス内容を詳細に評価。

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目次

1 INTRODUCTION 38
1.1 STUDY OBJECTIVES 38
1.2 MARKET DEFINITION 38
1.3 STUDY SCOPE 39
FIGURE 1 MARKET SEGMENTATION 39
1.3.1 REGIONS COVERED 39
FIGURE 2 REGIONAL SEGMENTATION 39
1.4 YEARS CONSIDERED 40
FIGURE 3 YEARS CONSIDERED 40
1.5 CURRENCY CONSIDERED 40
TABLE 1 USD EXCHANGE RATES CONSIDERED, 2019–2022 41
1.6 UNITS CONSIDERED 41
1.7 STAKEHOLDERS 41
1.8 SUMMARY OF CHANGES 42
1.8.1 RECESSION IMPACT 42
2 RESEARCH METHODOLOGY 43
2.1 RESEARCH DATA 43
FIGURE 4 LACTIC ACID MARKET: RESEARCH DESIGN 43
2.1.1 SECONDARY DATA 44
2.1.1.1 Key data from secondary sources 44
2.1.2 PRIMARY DATA 44
2.1.2.1 Key data from primary sources 45
2.1.2.2 Key industry insights 45
2.1.2.3 Breakdown of primary interviews 46
FIGURE 5 BREAKDOWN OF PRIMARY INTERVIEWS: BY VALUE CHAIN, DESIGNATION, AND REGION 46
2.2 FACTOR ANALYSIS 46
2.2.1 INTRODUCTION 46
2.2.2 DEMAND-SIDE ANALYSIS 47
FIGURE 6 KEY ECONOMIES BASED ON GROSS DOMESTIC PRODUCT, 2019–2021 (USD TRILLION) 47
2.2.3 SUPPLY-SIDE ANALYSIS 47
2.3 MARKET SIZE ESTIMATION 48
2.3.1 APPROACH ONE (BASED ON APPLICATION AND FORM, BY REGION) 48
2.3.2 APPROACH ONE (BASED ON APPLICATION, BY REGION) 49
2.3.3 APPROACH TWO (BASED ON GLOBAL MARKET) 50
2.4 DATA TRIANGULATION 51
FIGURE 7 DATA TRIANGULATION AND MARKET BREAKDOWN 51
2.5 RESEARCH ASSUMPTIONS 52
2.6 RESEARCH LIMITATIONS 52
2.7 RECESSION IMPACT ANALYSIS 53
FIGURE 8 INDICATORS OF RECESSION 53
FIGURE 9 WORLD INFLATION RATE: 2011–2021 54
FIGURE 10 GLOBAL GROSS DOMESTIC PRODUCT: 2011–2021 (USD TRILLION) 55
FIGURE 11 RECESSION INDICATORS AND THEIR IMPACT ON LACTIC ACID MARKET 56
FIGURE 12 GLOBAL LACTIC ACID MARKET: CURRENT FORECAST VS. RECESSION FORECAST 56
FIGURE 13 GLOBAL POLYLACTIC ACID MARKET: CURRENT FORECAST VS. RECESSION FORECAST 57
3 EXECUTIVE SUMMARY 58
TABLE 2 LACTIC ACID MARKET SNAPSHOT, 2023 VS. 2028 58
FIGURE 14 LACTIC ACID MARKET SIZE, BY APPLICATION, 2023 VS. 2028 (USD MILLION) 59
FIGURE 15 LACTIC ACID MARKET SIZE, BY FOOD & BEVERAGES SUB-APPLICATION, 2023 VS. 2028 (USD MILLION) 60
FIGURE 16 POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2023 VS. 2028 (USD MILLION) 60
FIGURE 17 LACTIC ACID MARKET SIZE, BY FORM, 2023 VS. 2028 (USD MILLION) 61
FIGURE 18 LACTIC ACID MARKET SIZE, BY RAW MATERIAL, 2023 VS. 2028 (USD MILLION) 61
FIGURE 19 REGIONAL SNAPSHOT OF LACTIC ACID MARKET 62
FIGURE 20 REGIONAL SNAPSHOT OF POLYLACTIC ACID MARKET 63
4 PREMIUM INSIGHTS 64
4.1 ATTRACTIVE OPPORTUNITIES FOR KEY PLAYERS IN MARKET 64
FIGURE 21 INCREASE IN DEMAND FOR PROCESSED AND PACKAGED FOOD & BEVERAGES PROJECTED TO DRIVE MARKET GROWTH 64
4.2 ATTRACTIVE OPPORTUNITIES IN POLYLACTIC ACID MARKET 64
FIGURE 22 BIODEGRADABLE PROPERTIES OF PLA PROJECTED TO DRIVE MARKET GROWTH 64
4.3 GLOBAL LACTIC ACID MARKET: SHARES OF MAJOR REGIONAL SUBMARKETS 65
FIGURE 23 CHINA HOLDS LARGEST MARKET FOR LACTIC ACID IN 2023 65
4.4 GLOBAL POLYLACTIC ACID MARKET: SHARES OF MAJOR REGIONAL SUBMARKETS 65
FIGURE 24 CHINA HOLDS LARGEST MARKET FOR POLYLACTIC ACID IN 2023 65
4.5 NORTH AMERICA: LACTIC ACID MARKET, BY APPLICATION & KEY COUNTRY 66
FIGURE 25 BIO-DEGRADABLE POLYMERS ACCOUNTED FOR LARGEST MARKET SHARE IN NORTH AMERICA 66
4.6 EUROPE: POLYLACTIC ACID MARKET, BY APPLICATION & KEY COUNTRY 66
FIGURE 26 PACKAGING ACCOUNTED FOR LARGEST MARKET SHARE IN NORTH AMERICA 66
4.7 GLOBAL LACTIC ACID MARKET, BY RAW MATERIAL & REGION 67
FIGURE 27 NORTH AMERICA AND SUGARCANE PROJECTED TO DOMINATE MARKET 67
4.8 GLOBAL LACTIC ACID MARKET, BY FORM 68
FIGURE 28 LIQUID FORM PROJECTED TO DOMINATE MARKET DURING FORECAST PERIOD 68
4.9 GLOBAL LACTIC ACID MARKET, BY APPLICATION 68
FIGURE 29 BIODEGRADABLE POLYMERS PROJECTED TO DOMINATE MARKET 68
4.10 LACTIC ACID MARKET, BY FOOD & BEVERAGE SUB-APPLICATION 69
FIGURE 30 BAKERY & CONFECTIONERY EXPECTED TO REGISTER GROWTH IN MARKET 69
4.11 GLOBAL POLYLACTIC ACID MARKET, BY APPLICATION 69
FIGURE 31 PACKAGING PROJECTED TO DOMINATE POLYLACTIC ACID MARKET 69
5 MARKET OVERVIEW 70
5.1 INTRODUCTION 70
FIGURE 32 BIOPLASTICS: GLOBAL PRODUCTION CAPACITY, 2021–2027 (MILLION TON) 70
5.2 MARKET DYNAMICS 72
FIGURE 33 LACTIC ACID & POLYLACTIC ACID MARKET DYNAMICS 72
5.2.1 DRIVERS 72
5.2.1.1 High demand for lactic & polylactic acid in end user applications 72
FIGURE 34 POLYLACTIC ACID: GLOBAL PRODUCTION CAPACITY, BY END USER APPLICATION, 2022 73
5.2.1.2 Rising demand for environmentally friendly resources 73
5.2.1.3 Technological advancements to encourage production of lactic & polylactic acid 74
FIGURE 35 GLOBAL EXPENDITURE ON R&D, 2019-2021 (USD MILLION) 75
5.2.2 RESTRAINTS 75
5.2.2.1 Fluctuations in raw material prices 75
5.2.2.2 Quality of packaged food & beverage products to become major concern for manufacturers 76
5.2.3 OPPORTUNITIES 76
5.2.3.1 Multi-functionalities of lactic & polylactic acids leading to increased demand for biopolymers and cosmetic products 76
5.2.3.2 Government regulations and frameworks encouraging use of bioplastics 77
5.2.4 CHALLENGES 77
5.2.4.1 Lack of process-specific technology for usage of lactic & polylactic acids in emerging economies 77
5.2.4.2 High initial investment costs borne by small & medium enterprises 78
6 INDUSTRY TRENDS 79
6.1 INTRODUCTION 79
6.2 VALUE CHAIN ANALYSIS 79
FIGURE 36 LACTIC ACID MARKET: VALUE CHAIN ANALYSIS 80
6.2.1 RESEARCH AND PRODUCT DEVELOPMENT 80
6.2.2 RAW MATERIAL SOURCING 80
6.2.3 PRODUCTION AND PROCESSING 80
6.2.4 DISTRIBUTION 81
6.2.5 MARKETING AND SALES 81
6.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 81
FIGURE 37 REVENUE SHIFT FOR LACTIC ACID MARKET 82
6.4 TARIFF AND REGULATORY LANDSCAPE 82
TABLE 3 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 82
TABLE 4 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 83
TABLE 5 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 84
TABLE 6 SOUTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 84
TABLE 7 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 85
6.5 REGULATORY FRAMEWORK 85
6.5.1 NORTH AMERICA 86
6.5.2 EUROPE 86
6.5.3 ASIA 88
6.5.4 OTHERS 89
6.6 PATENT ANALYSIS 89
FIGURE 38 NUMBER OF PATENTS GRANTED FOR LACTIC ACID IN GLOBAL MARKET, 2013–2022 89
FIGURE 39 REGIONAL ANALYSIS OF PATENTS GRANTED IN LACTIC ACID MARKET 89
TABLE 8 LIST OF MAJOR PATENTS PERTAINING TO LACTIC ACID MARKET, 2013–2022 90
6.7 TRADE ANALYSIS 91
TABLE 9 IMPORT VALUE OF LACTIC ACID FOR KEY COUNTRIES, 2022 (USD THOUSAND) 91
TABLE 10 EXPORT VALUE OF LACTIC ACID FOR KEY COUNTRIES, 2022 (USD THOUSAND) 91
6.8 PRICING ANALYSIS 92
6.8.1 AVERAGE SELLING PRICE TREND ANALYSIS 92
TABLE 11 LACTIC ACID MARKET: AVERAGE SELLING PRICE, BY REGION, 2020–2022 (USD PER TON) 92
TABLE 12 POLYLACTIC ACID MARKET: AVERAGE SELLING PRICE, BY REGION, 2020–2022 (USD PER TON) 92
6.9 LACTIC ACID MARKET: ECOSYSTEM MARKET MAP 93
6.9.1 DEMAND SIDE 93
6.9.2 SUPPLY SIDE 93
FIGURE 40 LACTIC ACID: MARKET MAP 94
TABLE 13 LACTIC ACID MARKET: ECOSYSTEM 94
6.10 TECHNOLOGY ANALYSIS 95
6.10.1 IMMOBILIZED BIOREACTOR DESIGN FOR LACTIC ACID (LA) PRODUCTION 95
6.10.2 GENETIC AND METABOLIC ENGINEERING 96
6.11 CASE STUDIES 96
6.11.1 ENHANCED RESOURCE EFFICIENCY WITH NEW ENZYME DEVELOPMENT IN ADJUNCT BREWING 96
6.12 PORTER’S FIVE FORCES ANALYSIS 97
TABLE 14 LACTIC ACID MARKET: PORTER’S FIVE FORCES ANALYSIS 97
6.12.1 INTENSITY OF COMPETITIVE RIVALRY 97
6.12.2 BARGAINING POWER OF SUPPLIERS 97
6.12.3 BARGAINING POWER OF BUYERS 98
6.12.4 THREAT OF SUBSTITUTES 98
6.12.5 THREAT OF NEW ENTRANTS 98
6.13 KEY STAKEHOLDERS AND BUYING CRITERIA 99
6.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 99
6.13.2 KEY STAKEHOLDERS AND BUYING CRITERIA 99
FIGURE 41 INFLUENCE OF STAKEHOLDERS ON BUYING LACTIC ACID FOR DIFFERENT APPLICATIONS 99
6.13.3 KEY STAKEHOLDERS AND BUYING CRITERIA 100
FIGURE 42 INFLUENCE OF STAKEHOLDERS ON BUYING POLYLACTIC ACID FOR DIFFERENT APPLICATIONS 100
TABLE 15 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR LACTIC ACID, BY APPLICATION (%) 100
TABLE 16 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR POLYLACTIC ACID, BY APPLICATION (%) 100
6.13.4 BUYING CRITERIA 101
TABLE 17 KEY CRITERIA FOR SELECTING SUPPLIER/VENDOR 101
FIGURE 43 KEY CRITERIA FOR SELECTING SUPPLIERS/VENDORS 101
6.14 KEY CONFERENCES AND EVENTS (2023–2024) 102
TABLE 18 KEY CONFERENCES AND EVENTS IN LACTIC ACID MARKET, 2023–2024 102
7 LACTIC ACID MARKET, BY RAW MATERIALS 104
7.1 INTRODUCTION 105
FIGURE 44 LACTIC ACID MARKET SIZE (VALUE), BY RAW MATERIAL, 2023 VS. 2028 105
TABLE 19 LACTIC ACID MARKET SIZE, BY RAW MATERIALS, 2018–2022 (USD MILLION) 105
TABLE 20 LACTIC ACID MARKET SIZE, BY RAW MATERIALS, 2023–2028 (USD MILLION) 106
7.2 CORN 106
7.2.1 COST-EFFECTIVENESS AND APPROPRIATE COMPOSITION TO MAKE IT PREFERRED RAW MATERIAL 106
TABLE 21 LACTIC ACID MARKET SIZE IN CORN, BY REGION, 2018–2022 (USD MILLION) 106
TABLE 22 LACTIC ACID MARKET SIZE IN CORN, BY REGION, 2023–2028 (USD MILLION) 107
7.3 CASSAVA 107
7.3.1 HIGH CONTENT OF STARCH IN CASSAVA TO MAKE IT APPROPRIATE RAW MATERIAL 107
TABLE 23 LACTIC ACID MARKET SIZE IN CASSAVA, BY REGION, 2018–2022 (USD MILLION) 107
TABLE 24 LACTIC ACID MARKET SIZE IN CASSAVA, BY REGION, 2023–2028 (USD MILLION) 108
7.4 SUGARCANE 108
7.4.1 SUGARCANE BAGASSE TO BE OBTAINED FROM AGRICULTURE AND DISTRIBUTED FOR RECYCLING 108
TABLE 25 LACTIC ACID MARKET SIZE IN SUGARCANE, BY REGION, 2018–2022 (USD MILLION) 108
TABLE 26 LACTIC ACID MARKET SIZE IN SUGARCANE, BY REGION, 2023–2028 (USD MILLION) 109
7.5 YEAST EXTRACT 109
7.5.1 YEAST EXTRACT TO FACILITATE FERMENTATION PROCEDURE 109
TABLE 27 LACTIC ACID MARKET SIZE IN YEAST EXTRACT, BY REGION, 2018–2022 (USD MILLION) 109
TABLE 28 LACTIC ACID MARKET SIZE IN YEAST EXTRACT, BY REGION, 2023–2028 (USD MILLION) 110
7.6 OTHERS 110
7.6.1 LIGNOCELLULOSIC AGRICULTURAL WASTE TO BE FOUND IN ABUNDANCE 110
TABLE 29 LACTIC ACID MARKET SIZE IN AGRICULTURE, BY REGION, 2018–2022 (USD MILLION) 110
TABLE 30 LACTIC ACID MARKET SIZE IN AGRICULTURE, BY REGION, 2023–2028 (USD MILLION) 111
8 LACTIC ACID MARKET, BY FORM 112
8.1 INTRODUCTION 113
FIGURE 45 LACTIC ACID MARKET SIZE, BY FORM, 2023 VS. 2028 (USD MILLION) 113
TABLE 31 LACTIC ACID MARKET SIZE, BY FORM, 2018–2022 (USD MILLION) 113
TABLE 32 LACTIC ACID MARKET SIZE, BY FORM, 2023–2028 (USD MILLION) 114
8.2 LIQUID 114
8.2.1 EASE OF USE IN VARIOUS APPLICATIONS TO ENCOURAGE LACTIC ACID USAGE IN LIQUID FORM 114
TABLE 33 LIQUID LACTIC ACID MARKET SIZE, BY REGION, 2018–2022 (USD MILLION) 114
TABLE 34 LIQUID LACTIC ACID MARKET SIZE, BY REGION, 2023–2028 (USD MILLION) 115
8.3 DRY 115
8.3.1 DRY FORM TO ENABLE IMPROVED ACCURACY OF DOSAGES 115
TABLE 35 DRY LACTIC ACID MARKET SIZE, BY REGION, 2018–2022 (USD MILLION) 115
TABLE 36 DRY LACTIC ACID MARKET SIZE, BY REGION, 2023–2028 (USD MILLION) 116
9 LACTIC ACID MARKET, BY APPLICATION 117
9.1 INTRODUCTION 118
FIGURE 46 LACTIC ACID MARKET SHARE (VALUE), BY APPLICATION, 2023 VS. 2028 118
TABLE 37 LACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2022 (USD MILLION) 119
TABLE 38 LACTIC ACID MARKET SIZE, BY APPLICATION, 2023–2028 (USD MILLION) 119
9.2 BIODEGRADABLE POLYMERS 119
TABLE 39 LACTIC ACID MARKET SIZE IN BIODEGRADABLE POLYMERS, BY REGION, 2018–2022 (USD MILLION) 120
TABLE 40 LACTIC ACID MARKET SIZE IN BIODEGRADABLE POLYMERS, BY REGION, 2023–2028 (USD MILLION) 120
9.3 FOOD & BEVERAGES 120
TABLE 41 LACTIC ACID MARKET SIZE IN FOOD & BEVERAGES, BY REGION, 2018–2022 (USD MILLION) 121
TABLE 42 LACTIC ACID MARKET SIZE IN FOOD & BEVERAGES, BY REGION, 2023–2028 (USD MILLION) 121
TABLE 43 LACTIC ACID MARKET SIZE IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2018–2022 (USD MILLION) 121
TABLE 44 LACTIC ACID MARKET SIZE IN FOOD & BEVERAGES, BY APPLICATION, 2023–2028 (USD MILLION) 122
9.3.1 BEVERAGES 122
9.3.1.1 Use of lactic acid in beverages for superior shelf life 122
TABLE 45 LACTIC ACID MARKET SIZE IN BEVERAGES, BY REGION, 2018–2022 (USD MILLION) 123
TABLE 46 LACTIC ACID MARKET SIZE IN BEVERAGES, BY REGION, 2023–2028 (USD MILLION) 123
9.3.2 BAKERY & CONFECTIONERY PRODUCTS 123
9.3.2.1 Usage of lactic acid to increase shelf life of bakery & confectionery 123
TABLE 47 LACTIC ACID MARKET SIZE IN BAKERY & CONFECTIONERY PRODUCTS, BY REGION, 2018–2022 (USD MILLION) 124
TABLE 48 LACTIC ACID MARKET SIZE IN BAKERY & CONFECTIONERY PRODUCTS, BY REGION, 2023–2028 (USD MILLION) 124
9.3.3 DAIRY PRODUCTS 124
9.3.3.1 Mineral salts of lactic acid to fortify dairy products 124
TABLE 49 LACTIC ACID MARKET SIZE IN DAIRY PRODUCTS, BY REGION, 2018–2022 (USD MILLION) 125
TABLE 50 LACTIC ACID MARKET SIZE IN DAIRY PRODUCTS, BY REGION, 2023–2028 (USD MILLION) 125
9.3.4 MEAT PRODUCTS 125
9.3.4.1 Lactic acid to preserve taste and tenderness of meat & products 125
TABLE 51 LACTIC ACID MARKET SIZE IN MEAT PRODUCTS, BY REGION, 2018–2022 (USD MILLION) 126
TABLE 52 LACTIC ACID MARKET SIZE IN MEAT PRODUCTS, BY REGION, 2023–2028 (USD MILLION) 126
9.3.5 OTHER FOOD PRODUCTS 126
9.3.5.1 Lactic acid to replace acetic acid and vinegar as food additives 126
TABLE 53 LACTIC ACID MARKET SIZE IN OTHER FOOD PRODUCTS, BY REGION, 2018–2022 (USD MILLION) 127
TABLE 54 LACTIC ACID MARKET SIZE IN OTHER FOOD PRODUCTS, BY REGION, 2023–2028 (USD MILLION) 127
9.4 PERSONAL CARE PRODUCTS 127
9.4.1 CONSUMER PREFERENCE TO ENCOURAGE DEMAND FOR CLEAN-LABEL PERSONAL CARE AND COSMETIC PRODUCTS 127
TABLE 55 LACTIC ACID MARKET SIZE IN PERSONAL CARE PRODUCTS, BY REGION, 2018–2022 (USD MILLION) 128
TABLE 56 LACTIC ACID MARKET SIZE IN PERSONAL CARE PRODUCTS, BY REGION, 2023–2028 (USD MILLION) 128
9.5 PHARMACEUTICAL PRODUCTS 128
9.5.1 LACTIC ACID TO BE USED AS ELECTROLYTE IN PARENTERAL & INTRAVENOUS SOLUTIONS 128
TABLE 57 LACTIC ACID MARKET SIZE IN PHARMACEUTICAL PRODUCTS, BY REGION, 2018–2022 (USD MILLION) 129
TABLE 58 LACTIC ACID MARKET SIZE IN PHARMACEUTICAL PRODUCTS, BY REGION, 2023–2028 (USD MILLION) 129
9.6 OTHER APPLICATIONS 129
9.6.1 LACTIC ACID TO BE USED IN VARIOUS APPLICATIONS DUE TO ITS NON-TOXIC BIODEGRADABLE NATURE 129
TABLE 59 LACTIC ACID MARKET SIZE IN OTHER APPLICATIONS, BY REGION, 2018–2022 (USD MILLION) 130
TABLE 60 LACTIC ACID MARKET SIZE IN OTHER APPLICATIONS, BY REGION, 2023–2028 (USD MILLION) 130
10 POLYLACTIC ACID MARKET, BY APPLICATION 131
10.1 INTRODUCTION 132
FIGURE 47 POLYLACTIC ACID MARKET SIZE (VALUE), BY APPLICATION, 2023 VS. 2028 132
TABLE 61 POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2022 (USD MILLION) 133
TABLE 62 POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2023–2028 (USD MILLION) 133
10.2 PACKAGING 134
TABLE 63 POLYLACTIC ACID MARKET SIZE IN PACKAGING, BY REGION, 2018–2022 (USD MILLION) 134
TABLE 64 POLYLACTIC ACID MARKET SIZE IN PACKAGING, BY REGION, 2023–2028 (USD MILLION) 134
10.2.1 RIGID PACKAGING 135
10.2.1.1 Polylactic acid-based rigid packaging to be used in biodegradable and compostable food services packages 135
10.2.2 COMPOST BAGS 135
10.2.2.1 Usage of composite bags to mitigate organic waste 135
10.2.3 LOOSE-FILL PACKAGING 135
10.2.3.1 Loose-fill packaging to help reduce freight cost 135
10.3 FIBER & FABRICS 136
10.3.1 RENEWABLE NATURE AND TRANSFORMATION ENERGY OF PLA TO DRIVE DEMAND IN TEXTILE 136
TABLE 65 POLYLACTIC ACID MARKET SIZE IN FIBER & FABRICS, BY REGION, 2018–2022 (USD MILLION) 136
TABLE 66 POLYLACTIC ACID MARKET SIZE IN FIBER & FABRICS, BY REGION, 2023–2028 (USD MILLION) 136
10.4 AUTOMOBILES 137
10.4.1 INCREASED PREFERENCE FOR TENSILE PLASTIC ALTERNATIVE TO FUEL DEMAND 137
TABLE 67 POLYLACTIC ACID MARKET SIZE IN AUTOMOBILES, BY REGION, 2018–2022 (USD MILLION) 137
TABLE 68 POLYLACTIC ACID MARKET SIZE IN AUTOMOBILES, BY REGION, 2023–2028 (USD MILLION) 138
10.5 ELECTRONICS & ELECTRICALS 138
10.5.1 USAGE OF POLYLACTIC ACID IN ELECTRONICS TO REMAIN LOW 138
TABLE 69 POLYLACTIC ACID MARKET SIZE IN ELECTRONICS & ELECTRICALS, BY REGION, 2018–2022 (USD MILLION) 138
TABLE 70 POLYLACTIC ACID MARKET SIZE IN ELECTRONICS & ELECTRICALS, BY REGION, 2023–2028 (USD MILLION) 139
10.6 AGRICULTURE 139
10.6.1 POLYLACTIC ACID TO REPLACE MULCH FILMS IN AGRICULTURE 139
TABLE 71 POLYLACTIC ACID MARKET SIZE IN AGRICULTURE, BY REGION, 2018–2022 (USD MILLION) 140
TABLE 72 POLYLACTIC ACID MARKET SIZE IN AGRICULTURE, BY REGION, 2023–2028 (USD MILLION) 140
10.7 OTHER APPLICATIONS 140
10.7.1 POLYLACTIC ACID TO BE USED IN VARIOUS APPLICATIONS DUE TO ITS BIOCOMPATIBLE NATURE 140
TABLE 73 POLYLACTIC ACID MARKET SIZE IN OTHER APPLICATIONS, BY REGION, 2018–2022(USD MILLION) 141
TABLE 74 POLYLACTIC ACID MARKET SIZE IN OTHER APPLICATIONS, BY REGION, 2023–2028 (USD MILLION) 141
11 LACTIC ACID MARKET, BY REGION 142
11.1 INTRODUCTION 143
FIGURE 48 REGIONAL SNAPSHOT: NEW HOTSPOTS TO EMERGE IN ASIA PACIFIC, 2023 VS. 2028 143
TABLE 75 LACTIC ACID MARKET, BY REGION, 2018–2022 (USD MILLION) 144
TABLE 76 LACTIC ACID MARKET, BY REGION, 2023–2028 (USD MILLION) 144
TABLE 77 LACTIC ACID MARKET, BY REGION, 2018–2022 (KT) 144
TABLE 78 LACTIC ACID MARKET, BY REGION, 2023–2028 (KT) 145
11.2 NORTH AMERICA 145
FIGURE 49 NORTH AMERICA: LACTIC ACID MARKET SNAPSHOT 146
11.2.1 NORTH AMERICA: RECESSION IMPACT 146
FIGURE 50 NORTH AMERICAN LACTIC ACID MARKET: RECESSION IMPACT ANALYSIS 147
TABLE 79 NORTH AMERICA: LACTIC ACID MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 148
TABLE 80 NORTH AMERICA: LACTIC ACID MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 148
TABLE 81 NORTH AMERICA: LACTIC ACID MARKET, BY COUNTRY, 2018–2022 (KT) 148
TABLE 82 NORTH AMERICA: LACTIC ACID MARKET, BY COUNTRY, 2023–2028 (KT) 148
TABLE 83 NORTH AMERICA: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 149
TABLE 84 NORTH AMERICA: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 149
TABLE 85 NORTH AMERICA: LACTIC ACID MARKET IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2018–2022 (USD MILLION) 149
TABLE 86 NORTH AMERICA: LACTIC ACID MARKET SIZE IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2023–2028 (USD MILLION) 150
TABLE 87 NORTH AMERICA: LACTIC ACID MARKET, BY RAW MATERIALS, 2018–2022 (USD MILLION) 150
TABLE 88 NORTH AMERICA: LACTIC ACID MARKET, BY RAW MATERIALS, 2023–2028 (USD MILLION) 150
TABLE 89 NORTH AMERICA: LACTIC ACID MARKET, BY FORM, 2018–2022 (USD MILLION) 151
TABLE 90 NORTH AMERICA: LACTIC ACID MARKET, BY FORM, 2023–2028 (USD MILLION) 151
11.2.2 US 151
11.2.2.1 Increase in investments, expansions, and product launches to encourage growth of bioplastics & biopolymers 151
TABLE 91 US: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 152
TABLE 92 US: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 152
11.2.3 CANADA 152
11.2.3.1 Reducing plastic waste and enhancing environmental sustainability to increase demand for alternative materials and packaging solutions 152
TABLE 93 CANADA: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 153
TABLE 94 CANADA: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 153
11.2.4 MEXICO 153
11.2.4.1 Use of biodegradable plastics in various food packaging applications to drive demand for lactic acid 153
TABLE 95 MEXICO: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 154
TABLE 96 MEXICO: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 154
11.3 EUROPE 154
11.3.1 EUROPE: RECESSION IMPACT 155
TABLE 97 EUROPE: LACTIC ACID MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 155
TABLE 98 EUROPE: LACTIC ACID MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 155
TABLE 99 EUROPE: LACTIC ACID MARKET, BY COUNTRY, 2018–2022 (KT) 156
TABLE 100 EUROPE: LACTIC ACID MARKET, BY COUNTRY, 2023–2028 (KT) 156
TABLE 101 EUROPE: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 156
TABLE 102 EUROPE: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 157
TABLE 103 EUROPE: LACTIC ACID MARKET IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2018–2022 (USD MILLION) 157
TABLE 104 EUROPE: LACTIC ACID MARKET IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2023–2028 (USD MILLION) 157
TABLE 105 EUROPE: LACTIC ACID MARKET, BY RAW MATERIALS, 2018–2022 (USD MILLION) 158
TABLE 106 EUROPE: LACTIC ACID MARKET, BY RAW MATERIALS, 2023–2028 (USD MILLION) 158
TABLE 107 EUROPE: LACTIC ACID MARKET, BY FORM, 2018–2022 (USD MILLION) 158
TABLE 108 EUROPE: LACTIC ACID MARKET, BY FORM, 2023–2028 (USD MILLION) 158
11.3.2 GERMANY 159
11.3.2.1 Government regulations to encourage recycling of packaging waste 159
TABLE 109 GERMANY: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 159
TABLE 110 GERMANY: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 159
11.3.3 ITALY 160
11.3.3.1 Ban on conventional plastic items to enhance demand for bioplastic materials 160
TABLE 111 ITALY: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 160
TABLE 112 ITALY: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 160
11.3.4 SPAIN 161
11.3.4.1 Growing awareness regarding use of biodegradable polymers to boost market 161
TABLE 113 SPAIN: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 161
TABLE 114 SPAIN: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 161
11.3.5 FRANCE 162
11.3.5.1 Demand for lactic acid as functional additive to drive market growth 162
TABLE 115 FRANCE: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 162
TABLE 116 FRANCE: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 162
11.3.6 UK 163
11.3.6.1 Demand for bioplastic & biopolymer products projected to grow during forecast period 163
TABLE 117 UK: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 163
TABLE 118 UK: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 163
11.3.7 REST OF EUROPE 164
11.3.7.1 Poland, Netherlands, and Belgium to be major consumers of lactic acid 164
TABLE 119 REST OF EUROPE: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 164
TABLE 120 REST OF EUROPE: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 165
11.4 ASIA PACIFIC 165
FIGURE 51 ASIA PACIFIC: LACTIC ACID MARKET SNAPSHOT 166
11.4.1 ASIA PACIFIC: RECESSION IMPACT 166
TABLE 121 ASIA PACIFIC: LACTIC ACID MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 167
TABLE 122 ASIA PACIFIC: LACTIC ACID MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 167
TABLE 123 ASIA PACIFIC: LACTIC ACID MARKET, BY COUNTRY, 2018–2022 (KT) 168
TABLE 124 ASIA PACIFIC: LACTIC ACID MARKET, BY COUNTRY, 2023–2028 (KT) 168
TABLE 125 ASIA PACIFIC: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 168
TABLE 126 ASIA PACIFIC: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 169
TABLE 127 ASIA PACIFIC: LACTIC ACID MARKET IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2018–2022 (USD MILLION) 169
TABLE 128 ASIA PACIFIC: LACTIC ACID MARKET IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2023–2028 (USD MILLION) 169
TABLE 129 ASIA PACIFIC: LACTIC ACID MARKET, BY RAW MATERIALS, 2018–2022 (USD MILLION) 170
TABLE 130 ASIA PACIFIC: LACTIC ACID MARKET, BY RAW MATERIALS, 2023–2028 (USD MILLION) 170
TABLE 131 ASIA PACIFIC: LACTIC ACID MARKET, BY FORM, 2018–2022 (USD MILLION) 170
TABLE 132 ASIA PACIFIC: LACTIC ACID MARKET, BY FORM, 2023–2028 (USD MILLION) 170
11.4.2 CHINA 171
11.4.2.1 High demand for lactic acid among key players to drive growth of biodegradable polymers 171
TABLE 133 CHINA: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 171
TABLE 134 CHINA: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 171
11.4.3 JAPAN 172
11.4.3.1 Advancements in pharmaceuticals to drive market growth 172
TABLE 135 JAPAN: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 172
TABLE 136 JAPAN: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 172
11.4.4 INDIA 173
11.4.4.1 Advancements in technology for lactic acid usage in food & beverage applications to drive market growth 173
TABLE 137 INDIA: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 173
TABLE 138 INDIA: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 173
11.4.5 AUSTRALIA & NEW ZEALAND 174
11.4.5.1 Rising demand for natural and safe ingredients in personal care products to lead to market growth 174
TABLE 139 AUSTRALIA & NEW ZEALAND: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 174
TABLE 140 AUSTRALIA & NEW ZEALAND: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 174
11.4.6 REST OF ASIA PACIFIC 175
11.4.6.1 Food & beverage manufacturers to opt for lactic acid as alternative to traditional chemicals 175
TABLE 141 REST OF ASIA PACIFIC: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 175
TABLE 142 REST OF ASIA PACIFIC: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 175
11.5 ROW 176
11.5.1 ROW: RECESSION IMPACT 176
TABLE 143 ROW: LACTIC ACID MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 176
TABLE 144 ROW: LACTIC ACID MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 177
TABLE 145 ROW: LACTIC ACID MARKET, BY REGION, 2018–2022 (KT) 177
TABLE 146 ROW: LACTIC ACID MARKET, BY REGION, 2023–2028 (KT) 177
TABLE 147 ROW: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 177
TABLE 148 ROW: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 178
TABLE 149 ROW: LACTIC ACID MARKET IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2018–2022 (USD MILLION) 178
TABLE 150 ROW: LACTIC ACID MARKET SIZE IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2023–2028 (USD MILLION) 178
TABLE 151 ROW: LACTIC ACID MARKET, BY RAW MATERIALS, 2018–2022 (USD MILLION) 179
TABLE 152 ROW: LACTIC ACID MARKET, BY RAW MATERIALS, 2023–2028 (USD MILLION) 179
TABLE 153 ROW: LACTIC ACID MARKET, BY FORM, 2018–2022 (USD MILLION) 179
TABLE 154 ROW: LACTIC ACID MARKET, BY FORM, 2023–2028 (USD MILLION) 179
11.5.2 SOUTH AMERICA 180
11.5.2.1 Biodegradable polymers to witness significant demand as key companies set up manufacturing units in South America 180
TABLE 155 SOUTH AMERICA: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 180
TABLE 156 SOUTH AMERICA: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 180
11.5.3 MIDDLE EAST 181
11.5.3.1 Expansion of food processing industry to drive market growth 181
TABLE 157 MIDDLE EAST: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 181
TABLE 158 MIDDLE EAST: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 181
11.5.4 AFRICA 182
11.5.4.1 Rising plastic usage to lead to increased demand for lactic acid in Africa 182
TABLE 159 AFRICA: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 182
TABLE 160 AFRICA: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 182

　

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Summary

The global lactic acid market size is projected to reach USD 2.8 billion by 2028, recording a CAGR of 12.4%, in terms of value. The global polylactic acid market size is anticipated to reach USD 2.9 billion by 2028, recording a CAGR of 17.7%, in terms of value.
“Surging customer demand for sustainable substitutes of petrochemical-based products is significantly driving the growth of the lactic acid market.”
Growing environmental concerns have led to a greater emphasis on eco-friendly solutions. Lactic acid, derived from renewable sources like corn starch or sugarcane, offers a greener alternative to petrochemicals. As businesses strive to reduce their carbon footprint and promote sustainability, the demand for lactic acid has seen a notable surge. The biodegradable nature of lactic acid presents a significant advantage. It can naturally break down without leaving harmful residues or contributing to environmental pollution. This characteristic is particularly advantageous in industries that require biodegradable materials, such as packaging and plastics, where lactic acid can be a viable choice. Governments and regulatory bodies are increasingly promoting the use of sustainable alternatives to petrochemicals. Various initiatives and regulations encourage the adoption of bio-based and renewable materials, providing further impetus to the lactic acid market.
“Europe is anticipated to have the highest share in the polylactic acid market, valued at 33.4% during the forecast period.”
Europe accounts for USD 0.4 Billion of the market size in global market for polylactic acid in 2023. The polylactic acid (PLA) market in Europe is witnessing remarkable growth, driven by the region's strong focus on sustainability and environmental consciousness. There is a growing awareness among consumers, businesses, and governments regarding the negative environmental impact of traditional plastics. As a biodegradable and renewable alternative, PLA is being widely embraced as a solution to reduce plastic waste and carbon footprint. European governments have implemented stringent regulations and policies that encourage the use of sustainable materials and the reduction of plastic waste, providing a favorable environment for the adoption of bio-based and biodegradable plastics like PLA. The volume and environmental impact of some plastic items are both subject to EU regulations. The EU has taken measures to combat plastic pollution. Single-use plastic plates, cutlery, straws, balloon sticks, and cotton buds were outlawed beginning on July 3, 2021, on the markets of EU Member States. This regulatory support incentivizes companies to transition to PLA for packaging, food service products, and other applications, thereby propelling market growth.



“Corn is the most frequently employed raw material in the production of lactic acid.”
Corn is abundantly available and widely cultivated, making it a reliable and cost-effective source for lactic acid production. Its widespread cultivation provides a stable supply chain and ensures consistent availability of raw materials. Additionally, corn contains high levels of starch, which can be easily converted into glucose, the primary substrate for lactic acid fermentation. The efficient conversion of corn starch into glucose enables high yields and cost-effective production of lactic acid. Furthermore, the established infrastructure and expertise in corn processing make it a preferred choice for lactic acid manufacturers, allowing for efficient extraction and processing of the raw material. The utilization of corn as the primary raw material in lactic acid production aligns with its economic viability, availability, and ease of conversion, making it a practical and widely adopted choice in the industry.
“The bakery & confectionery sub-segment of the application segment of lactic acid market is anticipated to be valued the largest at USD 0.3 billion in 2028.”
The market for confectionery and bakery items is gradually rising due to the rise in convenience food demand and consumer desire for enticing, delectable, and textural treats. The availability, affordability, and nutritional value of bakery goods are further elements influencing their continued existence in the modern market. Products from bakeries have become a staple in the diets of many customers. This has increased demand for the various baking ingredients used to create savory and textured baked goods. The American Bakers Association estimates that bakery products represent around 2.1% of the US gross domestic product. Lactic acid serves as a versatile ingredient that enhances the quality and shelf life of bakery and confectionery products. It acts as a natural preservative, inhibiting the growth of mold and bacteria, thereby extending the product's freshness and reducing the need for artificial additives. Moreover, lactic acid contributes to the desirable texture, flavor, and color development in baked goods and confections. It imparts a mild tanginess, which adds complexity and depth to the taste profile of various products, including bread, pastries, and candies. With the rising consumer demand for natural ingredients, lactic acid's ability to perform multiple functions while aligning with clean-label requirements has made it an attractive choice for the bakery and confectionery industry.

“The liquid segment of the global lactic acid market is projected to grow and have the largest market share for the forecasted year.“
In 2023, the market was led by the liquid form category. The versatility of liquid lactic acid is expected to be a significant driver of its market growth. Liquid lactic acid offers a wide range of applications across various industries, including food and beverages, pharmaceuticals, personal care, and cleaning products. Its fluid form allows for easy incorporation into different formulations, making it adaptable to diverse product requirements. In the food industry, liquid lactic acid serves as a natural preservative, pH regulator, and flavor enhancer, enhancing the shelf life and taste of various products. It finds use in dairy, bakery, confectionery, and meat processing, among others. In the pharmaceutical industry, liquid lactic acid is utilized for drug formulation, controlled-release systems, and as a chiral intermediate in the synthesis of active pharmaceutical ingredients. The personal care industry benefits from its use in skincare, hair care, and cosmetic products due to its moisturizing, exfoliating, and pH-balancing properties. Additionally, liquid lactic acid plays a vital role in the production of biodegradable polymers, cleaning agents, and industrial applications. With its wide-ranging applications and versatility, the market for liquid lactic acid is poised for growth as industries increasingly recognize its benefits and utilize it in innovative ways..
The break-up of the profile of primary participants in the lactic acid market:
 By Company: Tier 1- 35%, Tier 2- 25%, Tier 3 – 40%
 By Designation: Managers – 40%, CXOs – 35%, and Executives- 25%
 By Region: North America – 15%, Europe – 30%, Asia Pacific -45%, RoW - 10%

Prominent companies include Corbion (Netherlands), Cargill, Incorporated (US), Galactic (Belgium), Unitika Ltd (Japan), Henan Jindan lactic acid Technology Co., Ltd. (China), TORAY INDUSTRIES, INC. (Japan), Sulzer Ltd (China), and others.

Research Coverage:
In this report, the lactic acid market has been categorized by raw materials (corn, cassava, sugarcane, yeast extract. and others), form (dry, liquid), application (biodegradable polymers, food & beverages, pharmaceutical products), and region. The polylactic acid market has been segmented by application (packaging, fiber & fabrics, agriculture) and region. . The report's coverage includes specific information on the key elements—such as drivers, restraints, challenges, and opportunities—influencing the market for lactic acid. A comprehensive evaluation of the top industry players has been conducted to provide insights into their business overview, products, and services; important strategies; contracts, partnerships, agreements, the introduction of new products and services, acquisitions and mergers, and current trends affecting the lactic acid market. This research covers competitive analysis of future startups in the lactic acid market environment.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall lactic acid market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers (High demand for lactic acid and polylactic acid in end-user applications), restraints (Fluctuations in raw material prices), opportunities (Government regulations and frameworks to encourage the use of bioplastics), and challenges (High initial investment costs involved for small & medium enterprises) influencing the growth of the lactic acid market.
• Product Development/Innovation: Detailed insights on research & development activities, and new product & service launches in the lactic acid market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the lactic acid market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the lactic acid market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Corbion (Netherlands), Cargill, Incorporated (US), Galactic (Belgium), and Unitika Ltd (Japan), among others in the lactic acid market strategies.



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Table of Contents

1 INTRODUCTION 38
1.1 STUDY OBJECTIVES 38
1.2 MARKET DEFINITION 38
1.3 STUDY SCOPE 39
FIGURE 1 MARKET SEGMENTATION 39
1.3.1 REGIONS COVERED 39
FIGURE 2 REGIONAL SEGMENTATION 39
1.4 YEARS CONSIDERED 40
FIGURE 3 YEARS CONSIDERED 40
1.5 CURRENCY CONSIDERED 40
TABLE 1 USD EXCHANGE RATES CONSIDERED, 2019–2022 41
1.6 UNITS CONSIDERED 41
1.7 STAKEHOLDERS 41
1.8 SUMMARY OF CHANGES 42
1.8.1 RECESSION IMPACT 42
2 RESEARCH METHODOLOGY 43
2.1 RESEARCH DATA 43
FIGURE 4 LACTIC ACID MARKET: RESEARCH DESIGN 43
2.1.1 SECONDARY DATA 44
2.1.1.1 Key data from secondary sources 44
2.1.2 PRIMARY DATA 44
2.1.2.1 Key data from primary sources 45
2.1.2.2 Key industry insights 45
2.1.2.3 Breakdown of primary interviews 46
FIGURE 5 BREAKDOWN OF PRIMARY INTERVIEWS: BY VALUE CHAIN, DESIGNATION, AND REGION 46
2.2 FACTOR ANALYSIS 46
2.2.1 INTRODUCTION 46
2.2.2 DEMAND-SIDE ANALYSIS 47
FIGURE 6 KEY ECONOMIES BASED ON GROSS DOMESTIC PRODUCT, 2019–2021 (USD TRILLION) 47
2.2.3 SUPPLY-SIDE ANALYSIS 47
2.3 MARKET SIZE ESTIMATION 48
2.3.1 APPROACH ONE (BASED ON APPLICATION AND FORM, BY REGION) 48
2.3.2 APPROACH ONE (BASED ON APPLICATION, BY REGION) 49
2.3.3 APPROACH TWO (BASED ON GLOBAL MARKET) 50
2.4 DATA TRIANGULATION 51
FIGURE 7 DATA TRIANGULATION AND MARKET BREAKDOWN 51
2.5 RESEARCH ASSUMPTIONS 52
2.6 RESEARCH LIMITATIONS 52
2.7 RECESSION IMPACT ANALYSIS 53
FIGURE 8 INDICATORS OF RECESSION 53
FIGURE 9 WORLD INFLATION RATE: 2011–2021 54
FIGURE 10 GLOBAL GROSS DOMESTIC PRODUCT: 2011–2021 (USD TRILLION) 55
FIGURE 11 RECESSION INDICATORS AND THEIR IMPACT ON LACTIC ACID MARKET 56
FIGURE 12 GLOBAL LACTIC ACID MARKET: CURRENT FORECAST VS. RECESSION FORECAST 56
FIGURE 13 GLOBAL POLYLACTIC ACID MARKET: CURRENT FORECAST VS. RECESSION FORECAST 57
3 EXECUTIVE SUMMARY 58
TABLE 2 LACTIC ACID MARKET SNAPSHOT, 2023 VS. 2028 58
FIGURE 14 LACTIC ACID MARKET SIZE, BY APPLICATION, 2023 VS. 2028 (USD MILLION) 59
FIGURE 15 LACTIC ACID MARKET SIZE, BY FOOD & BEVERAGES SUB-APPLICATION, 2023 VS. 2028 (USD MILLION) 60
FIGURE 16 POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2023 VS. 2028 (USD MILLION) 60
FIGURE 17 LACTIC ACID MARKET SIZE, BY FORM, 2023 VS. 2028 (USD MILLION) 61
FIGURE 18 LACTIC ACID MARKET SIZE, BY RAW MATERIAL, 2023 VS. 2028 (USD MILLION) 61
FIGURE 19 REGIONAL SNAPSHOT OF LACTIC ACID MARKET 62
FIGURE 20 REGIONAL SNAPSHOT OF POLYLACTIC ACID MARKET 63
4 PREMIUM INSIGHTS 64
4.1 ATTRACTIVE OPPORTUNITIES FOR KEY PLAYERS IN MARKET 64
FIGURE 21 INCREASE IN DEMAND FOR PROCESSED AND PACKAGED FOOD & BEVERAGES PROJECTED TO DRIVE MARKET GROWTH 64
4.2 ATTRACTIVE OPPORTUNITIES IN POLYLACTIC ACID MARKET 64
FIGURE 22 BIODEGRADABLE PROPERTIES OF PLA PROJECTED TO DRIVE MARKET GROWTH 64
4.3 GLOBAL LACTIC ACID MARKET: SHARES OF MAJOR REGIONAL SUBMARKETS 65
FIGURE 23 CHINA HOLDS LARGEST MARKET FOR LACTIC ACID IN 2023 65
4.4 GLOBAL POLYLACTIC ACID MARKET: SHARES OF MAJOR REGIONAL SUBMARKETS 65
FIGURE 24 CHINA HOLDS LARGEST MARKET FOR POLYLACTIC ACID IN 2023 65
4.5 NORTH AMERICA: LACTIC ACID MARKET, BY APPLICATION & KEY COUNTRY 66
FIGURE 25 BIO-DEGRADABLE POLYMERS ACCOUNTED FOR LARGEST MARKET SHARE IN NORTH AMERICA 66
4.6 EUROPE: POLYLACTIC ACID MARKET, BY APPLICATION & KEY COUNTRY 66
FIGURE 26 PACKAGING ACCOUNTED FOR LARGEST MARKET SHARE IN NORTH AMERICA 66
4.7 GLOBAL LACTIC ACID MARKET, BY RAW MATERIAL & REGION 67
FIGURE 27 NORTH AMERICA AND SUGARCANE PROJECTED TO DOMINATE MARKET 67
4.8 GLOBAL LACTIC ACID MARKET, BY FORM 68
FIGURE 28 LIQUID FORM PROJECTED TO DOMINATE MARKET DURING FORECAST PERIOD 68
4.9 GLOBAL LACTIC ACID MARKET, BY APPLICATION 68
FIGURE 29 BIODEGRADABLE POLYMERS PROJECTED TO DOMINATE MARKET 68
4.10 LACTIC ACID MARKET, BY FOOD & BEVERAGE SUB-APPLICATION 69
FIGURE 30 BAKERY & CONFECTIONERY EXPECTED TO REGISTER GROWTH IN MARKET 69
4.11 GLOBAL POLYLACTIC ACID MARKET, BY APPLICATION 69
FIGURE 31 PACKAGING PROJECTED TO DOMINATE POLYLACTIC ACID MARKET 69
5 MARKET OVERVIEW 70
5.1 INTRODUCTION 70
FIGURE 32 BIOPLASTICS: GLOBAL PRODUCTION CAPACITY, 2021–2027 (MILLION TON) 70
5.2 MARKET DYNAMICS 72
FIGURE 33 LACTIC ACID & POLYLACTIC ACID MARKET DYNAMICS 72
5.2.1 DRIVERS 72
5.2.1.1 High demand for lactic & polylactic acid in end user applications 72
FIGURE 34 POLYLACTIC ACID: GLOBAL PRODUCTION CAPACITY, BY END USER APPLICATION, 2022 73
5.2.1.2 Rising demand for environmentally friendly resources 73
5.2.1.3 Technological advancements to encourage production of lactic & polylactic acid 74
FIGURE 35 GLOBAL EXPENDITURE ON R&D, 2019-2021 (USD MILLION) 75
5.2.2 RESTRAINTS 75
5.2.2.1 Fluctuations in raw material prices 75
5.2.2.2 Quality of packaged food & beverage products to become major concern for manufacturers 76
5.2.3 OPPORTUNITIES 76
5.2.3.1 Multi-functionalities of lactic & polylactic acids leading to increased demand for biopolymers and cosmetic products 76
5.2.3.2 Government regulations and frameworks encouraging use of bioplastics 77
5.2.4 CHALLENGES 77
5.2.4.1 Lack of process-specific technology for usage of lactic & polylactic acids in emerging economies 77
5.2.4.2 High initial investment costs borne by small & medium enterprises 78
6 INDUSTRY TRENDS 79
6.1 INTRODUCTION 79
6.2 VALUE CHAIN ANALYSIS 79
FIGURE 36 LACTIC ACID MARKET: VALUE CHAIN ANALYSIS 80
6.2.1 RESEARCH AND PRODUCT DEVELOPMENT 80
6.2.2 RAW MATERIAL SOURCING 80
6.2.3 PRODUCTION AND PROCESSING 80
6.2.4 DISTRIBUTION 81
6.2.5 MARKETING AND SALES 81
6.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 81
FIGURE 37 REVENUE SHIFT FOR LACTIC ACID MARKET 82
6.4 TARIFF AND REGULATORY LANDSCAPE 82
TABLE 3 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 82
TABLE 4 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 83
TABLE 5 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 84
TABLE 6 SOUTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 84
TABLE 7 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 85
6.5 REGULATORY FRAMEWORK 85
6.5.1 NORTH AMERICA 86
6.5.2 EUROPE 86
6.5.3 ASIA 88
6.5.4 OTHERS 89
6.6 PATENT ANALYSIS 89
FIGURE 38 NUMBER OF PATENTS GRANTED FOR LACTIC ACID IN GLOBAL MARKET, 2013–2022 89
FIGURE 39 REGIONAL ANALYSIS OF PATENTS GRANTED IN LACTIC ACID MARKET 89
TABLE 8 LIST OF MAJOR PATENTS PERTAINING TO LACTIC ACID MARKET, 2013–2022 90
6.7 TRADE ANALYSIS 91
TABLE 9 IMPORT VALUE OF LACTIC ACID FOR KEY COUNTRIES, 2022 (USD THOUSAND) 91
TABLE 10 EXPORT VALUE OF LACTIC ACID FOR KEY COUNTRIES, 2022 (USD THOUSAND) 91
6.8 PRICING ANALYSIS 92
6.8.1 AVERAGE SELLING PRICE TREND ANALYSIS 92
TABLE 11 LACTIC ACID MARKET: AVERAGE SELLING PRICE, BY REGION, 2020–2022 (USD PER TON) 92
TABLE 12 POLYLACTIC ACID MARKET: AVERAGE SELLING PRICE, BY REGION, 2020–2022 (USD PER TON) 92
6.9 LACTIC ACID MARKET: ECOSYSTEM MARKET MAP 93
6.9.1 DEMAND SIDE 93
6.9.2 SUPPLY SIDE 93
FIGURE 40 LACTIC ACID: MARKET MAP 94
TABLE 13 LACTIC ACID MARKET: ECOSYSTEM 94
6.10 TECHNOLOGY ANALYSIS 95
6.10.1 IMMOBILIZED BIOREACTOR DESIGN FOR LACTIC ACID (LA) PRODUCTION 95
6.10.2 GENETIC AND METABOLIC ENGINEERING 96
6.11 CASE STUDIES 96
6.11.1 ENHANCED RESOURCE EFFICIENCY WITH NEW ENZYME DEVELOPMENT IN ADJUNCT BREWING 96
6.12 PORTER’S FIVE FORCES ANALYSIS 97
TABLE 14 LACTIC ACID MARKET: PORTER’S FIVE FORCES ANALYSIS 97
6.12.1 INTENSITY OF COMPETITIVE RIVALRY 97
6.12.2 BARGAINING POWER OF SUPPLIERS 97
6.12.3 BARGAINING POWER OF BUYERS 98
6.12.4 THREAT OF SUBSTITUTES 98
6.12.5 THREAT OF NEW ENTRANTS 98
6.13 KEY STAKEHOLDERS AND BUYING CRITERIA 99
6.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 99
6.13.2 KEY STAKEHOLDERS AND BUYING CRITERIA 99
FIGURE 41 INFLUENCE OF STAKEHOLDERS ON BUYING LACTIC ACID FOR DIFFERENT APPLICATIONS 99
6.13.3 KEY STAKEHOLDERS AND BUYING CRITERIA 100
FIGURE 42 INFLUENCE OF STAKEHOLDERS ON BUYING POLYLACTIC ACID FOR DIFFERENT APPLICATIONS 100
TABLE 15 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR LACTIC ACID, BY APPLICATION (%) 100
TABLE 16 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR POLYLACTIC ACID, BY APPLICATION (%) 100
6.13.4 BUYING CRITERIA 101
TABLE 17 KEY CRITERIA FOR SELECTING SUPPLIER/VENDOR 101
FIGURE 43 KEY CRITERIA FOR SELECTING SUPPLIERS/VENDORS 101
6.14 KEY CONFERENCES AND EVENTS (2023–2024) 102
TABLE 18 KEY CONFERENCES AND EVENTS IN LACTIC ACID MARKET, 2023–2024 102
7 LACTIC ACID MARKET, BY RAW MATERIALS 104
7.1 INTRODUCTION 105
FIGURE 44 LACTIC ACID MARKET SIZE (VALUE), BY RAW MATERIAL, 2023 VS. 2028 105
TABLE 19 LACTIC ACID MARKET SIZE, BY RAW MATERIALS, 2018–2022 (USD MILLION) 105
TABLE 20 LACTIC ACID MARKET SIZE, BY RAW MATERIALS, 2023–2028 (USD MILLION) 106
7.2 CORN 106
7.2.1 COST-EFFECTIVENESS AND APPROPRIATE COMPOSITION TO MAKE IT PREFERRED RAW MATERIAL 106
TABLE 21 LACTIC ACID MARKET SIZE IN CORN, BY REGION, 2018–2022 (USD MILLION) 106
TABLE 22 LACTIC ACID MARKET SIZE IN CORN, BY REGION, 2023–2028 (USD MILLION) 107
7.3 CASSAVA 107
7.3.1 HIGH CONTENT OF STARCH IN CASSAVA TO MAKE IT APPROPRIATE RAW MATERIAL 107
TABLE 23 LACTIC ACID MARKET SIZE IN CASSAVA, BY REGION, 2018–2022 (USD MILLION) 107
TABLE 24 LACTIC ACID MARKET SIZE IN CASSAVA, BY REGION, 2023–2028 (USD MILLION) 108
7.4 SUGARCANE 108
7.4.1 SUGARCANE BAGASSE TO BE OBTAINED FROM AGRICULTURE AND DISTRIBUTED FOR RECYCLING 108
TABLE 25 LACTIC ACID MARKET SIZE IN SUGARCANE, BY REGION, 2018–2022 (USD MILLION) 108
TABLE 26 LACTIC ACID MARKET SIZE IN SUGARCANE, BY REGION, 2023–2028 (USD MILLION) 109
7.5 YEAST EXTRACT 109
7.5.1 YEAST EXTRACT TO FACILITATE FERMENTATION PROCEDURE 109
TABLE 27 LACTIC ACID MARKET SIZE IN YEAST EXTRACT, BY REGION, 2018–2022 (USD MILLION) 109
TABLE 28 LACTIC ACID MARKET SIZE IN YEAST EXTRACT, BY REGION, 2023–2028 (USD MILLION) 110
7.6 OTHERS 110
7.6.1 LIGNOCELLULOSIC AGRICULTURAL WASTE TO BE FOUND IN ABUNDANCE 110
TABLE 29 LACTIC ACID MARKET SIZE IN AGRICULTURE, BY REGION, 2018–2022 (USD MILLION) 110
TABLE 30 LACTIC ACID MARKET SIZE IN AGRICULTURE, BY REGION, 2023–2028 (USD MILLION) 111
8 LACTIC ACID MARKET, BY FORM 112
8.1 INTRODUCTION 113
FIGURE 45 LACTIC ACID MARKET SIZE, BY FORM, 2023 VS. 2028 (USD MILLION) 113
TABLE 31 LACTIC ACID MARKET SIZE, BY FORM, 2018–2022 (USD MILLION) 113
TABLE 32 LACTIC ACID MARKET SIZE, BY FORM, 2023–2028 (USD MILLION) 114
8.2 LIQUID 114
8.2.1 EASE OF USE IN VARIOUS APPLICATIONS TO ENCOURAGE LACTIC ACID USAGE IN LIQUID FORM 114
TABLE 33 LIQUID LACTIC ACID MARKET SIZE, BY REGION, 2018–2022 (USD MILLION) 114
TABLE 34 LIQUID LACTIC ACID MARKET SIZE, BY REGION, 2023–2028 (USD MILLION) 115
8.3 DRY 115
8.3.1 DRY FORM TO ENABLE IMPROVED ACCURACY OF DOSAGES 115
TABLE 35 DRY LACTIC ACID MARKET SIZE, BY REGION, 2018–2022 (USD MILLION) 115
TABLE 36 DRY LACTIC ACID MARKET SIZE, BY REGION, 2023–2028 (USD MILLION) 116
9 LACTIC ACID MARKET, BY APPLICATION 117
9.1 INTRODUCTION 118
FIGURE 46 LACTIC ACID MARKET SHARE (VALUE), BY APPLICATION, 2023 VS. 2028 118
TABLE 37 LACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2022 (USD MILLION) 119
TABLE 38 LACTIC ACID MARKET SIZE, BY APPLICATION, 2023–2028 (USD MILLION) 119
9.2 BIODEGRADABLE POLYMERS 119
TABLE 39 LACTIC ACID MARKET SIZE IN BIODEGRADABLE POLYMERS, BY REGION, 2018–2022 (USD MILLION) 120
TABLE 40 LACTIC ACID MARKET SIZE IN BIODEGRADABLE POLYMERS, BY REGION, 2023–2028 (USD MILLION) 120
9.3 FOOD & BEVERAGES 120
TABLE 41 LACTIC ACID MARKET SIZE IN FOOD & BEVERAGES, BY REGION, 2018–2022 (USD MILLION) 121
TABLE 42 LACTIC ACID MARKET SIZE IN FOOD & BEVERAGES, BY REGION, 2023–2028 (USD MILLION) 121
TABLE 43 LACTIC ACID MARKET SIZE IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2018–2022 (USD MILLION) 121
TABLE 44 LACTIC ACID MARKET SIZE IN FOOD & BEVERAGES, BY APPLICATION, 2023–2028 (USD MILLION) 122
9.3.1 BEVERAGES 122
9.3.1.1 Use of lactic acid in beverages for superior shelf life 122
TABLE 45 LACTIC ACID MARKET SIZE IN BEVERAGES, BY REGION, 2018–2022 (USD MILLION) 123
TABLE 46 LACTIC ACID MARKET SIZE IN BEVERAGES, BY REGION, 2023–2028 (USD MILLION) 123
9.3.2 BAKERY & CONFECTIONERY PRODUCTS 123
9.3.2.1 Usage of lactic acid to increase shelf life of bakery & confectionery 123
TABLE 47 LACTIC ACID MARKET SIZE IN BAKERY & CONFECTIONERY PRODUCTS, BY REGION, 2018–2022 (USD MILLION) 124
TABLE 48 LACTIC ACID MARKET SIZE IN BAKERY & CONFECTIONERY PRODUCTS, BY REGION, 2023–2028 (USD MILLION) 124
9.3.3 DAIRY PRODUCTS 124
9.3.3.1 Mineral salts of lactic acid to fortify dairy products 124
TABLE 49 LACTIC ACID MARKET SIZE IN DAIRY PRODUCTS, BY REGION, 2018–2022 (USD MILLION) 125
TABLE 50 LACTIC ACID MARKET SIZE IN DAIRY PRODUCTS, BY REGION, 2023–2028 (USD MILLION) 125
9.3.4 MEAT PRODUCTS 125
9.3.4.1 Lactic acid to preserve taste and tenderness of meat & products 125
TABLE 51 LACTIC ACID MARKET SIZE IN MEAT PRODUCTS, BY REGION, 2018–2022 (USD MILLION) 126
TABLE 52 LACTIC ACID MARKET SIZE IN MEAT PRODUCTS, BY REGION, 2023–2028 (USD MILLION) 126
9.3.5 OTHER FOOD PRODUCTS 126
9.3.5.1 Lactic acid to replace acetic acid and vinegar as food additives 126
TABLE 53 LACTIC ACID MARKET SIZE IN OTHER FOOD PRODUCTS, BY REGION, 2018–2022 (USD MILLION) 127
TABLE 54 LACTIC ACID MARKET SIZE IN OTHER FOOD PRODUCTS, BY REGION, 2023–2028 (USD MILLION) 127
9.4 PERSONAL CARE PRODUCTS 127
9.4.1 CONSUMER PREFERENCE TO ENCOURAGE DEMAND FOR CLEAN-LABEL PERSONAL CARE AND COSMETIC PRODUCTS 127
TABLE 55 LACTIC ACID MARKET SIZE IN PERSONAL CARE PRODUCTS, BY REGION, 2018–2022 (USD MILLION) 128
TABLE 56 LACTIC ACID MARKET SIZE IN PERSONAL CARE PRODUCTS, BY REGION, 2023–2028 (USD MILLION) 128
9.5 PHARMACEUTICAL PRODUCTS 128
9.5.1 LACTIC ACID TO BE USED AS ELECTROLYTE IN PARENTERAL & INTRAVENOUS SOLUTIONS 128
TABLE 57 LACTIC ACID MARKET SIZE IN PHARMACEUTICAL PRODUCTS, BY REGION, 2018–2022 (USD MILLION) 129
TABLE 58 LACTIC ACID MARKET SIZE IN PHARMACEUTICAL PRODUCTS, BY REGION, 2023–2028 (USD MILLION) 129
9.6 OTHER APPLICATIONS 129
9.6.1 LACTIC ACID TO BE USED IN VARIOUS APPLICATIONS DUE TO ITS NON-TOXIC BIODEGRADABLE NATURE 129
TABLE 59 LACTIC ACID MARKET SIZE IN OTHER APPLICATIONS, BY REGION, 2018–2022 (USD MILLION) 130
TABLE 60 LACTIC ACID MARKET SIZE IN OTHER APPLICATIONS, BY REGION, 2023–2028 (USD MILLION) 130
10 POLYLACTIC ACID MARKET, BY APPLICATION 131
10.1 INTRODUCTION 132
FIGURE 47 POLYLACTIC ACID MARKET SIZE (VALUE), BY APPLICATION, 2023 VS. 2028 132
TABLE 61 POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2022 (USD MILLION) 133
TABLE 62 POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2023–2028 (USD MILLION) 133
10.2 PACKAGING 134
TABLE 63 POLYLACTIC ACID MARKET SIZE IN PACKAGING, BY REGION, 2018–2022 (USD MILLION) 134
TABLE 64 POLYLACTIC ACID MARKET SIZE IN PACKAGING, BY REGION, 2023–2028 (USD MILLION) 134
10.2.1 RIGID PACKAGING 135
10.2.1.1 Polylactic acid-based rigid packaging to be used in biodegradable and compostable food services packages 135
10.2.2 COMPOST BAGS 135
10.2.2.1 Usage of composite bags to mitigate organic waste 135
10.2.3 LOOSE-FILL PACKAGING 135
10.2.3.1 Loose-fill packaging to help reduce freight cost 135
10.3 FIBER & FABRICS 136
10.3.1 RENEWABLE NATURE AND TRANSFORMATION ENERGY OF PLA TO DRIVE DEMAND IN TEXTILE 136
TABLE 65 POLYLACTIC ACID MARKET SIZE IN FIBER & FABRICS, BY REGION, 2018–2022 (USD MILLION) 136
TABLE 66 POLYLACTIC ACID MARKET SIZE IN FIBER & FABRICS, BY REGION, 2023–2028 (USD MILLION) 136
10.4 AUTOMOBILES 137
10.4.1 INCREASED PREFERENCE FOR TENSILE PLASTIC ALTERNATIVE TO FUEL DEMAND 137
TABLE 67 POLYLACTIC ACID MARKET SIZE IN AUTOMOBILES, BY REGION, 2018–2022 (USD MILLION) 137
TABLE 68 POLYLACTIC ACID MARKET SIZE IN AUTOMOBILES, BY REGION, 2023–2028 (USD MILLION) 138
10.5 ELECTRONICS & ELECTRICALS 138
10.5.1 USAGE OF POLYLACTIC ACID IN ELECTRONICS TO REMAIN LOW 138
TABLE 69 POLYLACTIC ACID MARKET SIZE IN ELECTRONICS & ELECTRICALS, BY REGION, 2018–2022 (USD MILLION) 138
TABLE 70 POLYLACTIC ACID MARKET SIZE IN ELECTRONICS & ELECTRICALS, BY REGION, 2023–2028 (USD MILLION) 139
10.6 AGRICULTURE 139
10.6.1 POLYLACTIC ACID TO REPLACE MULCH FILMS IN AGRICULTURE 139
TABLE 71 POLYLACTIC ACID MARKET SIZE IN AGRICULTURE, BY REGION, 2018–2022 (USD MILLION) 140
TABLE 72 POLYLACTIC ACID MARKET SIZE IN AGRICULTURE, BY REGION, 2023–2028 (USD MILLION) 140
10.7 OTHER APPLICATIONS 140
10.7.1 POLYLACTIC ACID TO BE USED IN VARIOUS APPLICATIONS DUE TO ITS BIOCOMPATIBLE NATURE 140
TABLE 73 POLYLACTIC ACID MARKET SIZE IN OTHER APPLICATIONS, BY REGION, 2018–2022(USD MILLION) 141
TABLE 74 POLYLACTIC ACID MARKET SIZE IN OTHER APPLICATIONS, BY REGION, 2023–2028 (USD MILLION) 141
11 LACTIC ACID MARKET, BY REGION 142
11.1 INTRODUCTION 143
FIGURE 48 REGIONAL SNAPSHOT: NEW HOTSPOTS TO EMERGE IN ASIA PACIFIC, 2023 VS. 2028 143
TABLE 75 LACTIC ACID MARKET, BY REGION, 2018–2022 (USD MILLION) 144
TABLE 76 LACTIC ACID MARKET, BY REGION, 2023–2028 (USD MILLION) 144
TABLE 77 LACTIC ACID MARKET, BY REGION, 2018–2022 (KT) 144
TABLE 78 LACTIC ACID MARKET, BY REGION, 2023–2028 (KT) 145
11.2 NORTH AMERICA 145
FIGURE 49 NORTH AMERICA: LACTIC ACID MARKET SNAPSHOT 146
11.2.1 NORTH AMERICA: RECESSION IMPACT 146
FIGURE 50 NORTH AMERICAN LACTIC ACID MARKET: RECESSION IMPACT ANALYSIS 147
TABLE 79 NORTH AMERICA: LACTIC ACID MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 148
TABLE 80 NORTH AMERICA: LACTIC ACID MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 148
TABLE 81 NORTH AMERICA: LACTIC ACID MARKET, BY COUNTRY, 2018–2022 (KT) 148
TABLE 82 NORTH AMERICA: LACTIC ACID MARKET, BY COUNTRY, 2023–2028 (KT) 148
TABLE 83 NORTH AMERICA: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 149
TABLE 84 NORTH AMERICA: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 149
TABLE 85 NORTH AMERICA: LACTIC ACID MARKET IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2018–2022 (USD MILLION) 149
TABLE 86 NORTH AMERICA: LACTIC ACID MARKET SIZE IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2023–2028 (USD MILLION) 150
TABLE 87 NORTH AMERICA: LACTIC ACID MARKET, BY RAW MATERIALS, 2018–2022 (USD MILLION) 150
TABLE 88 NORTH AMERICA: LACTIC ACID MARKET, BY RAW MATERIALS, 2023–2028 (USD MILLION) 150
TABLE 89 NORTH AMERICA: LACTIC ACID MARKET, BY FORM, 2018–2022 (USD MILLION) 151
TABLE 90 NORTH AMERICA: LACTIC ACID MARKET, BY FORM, 2023–2028 (USD MILLION) 151
11.2.2 US 151
11.2.2.1 Increase in investments, expansions, and product launches to encourage growth of bioplastics & biopolymers 151
TABLE 91 US: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 152
TABLE 92 US: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 152
11.2.3 CANADA 152
11.2.3.1 Reducing plastic waste and enhancing environmental sustainability to increase demand for alternative materials and packaging solutions 152
TABLE 93 CANADA: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 153
TABLE 94 CANADA: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 153
11.2.4 MEXICO 153
11.2.4.1 Use of biodegradable plastics in various food packaging applications to drive demand for lactic acid 153
TABLE 95 MEXICO: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 154
TABLE 96 MEXICO: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 154
11.3 EUROPE 154
11.3.1 EUROPE: RECESSION IMPACT 155
TABLE 97 EUROPE: LACTIC ACID MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 155
TABLE 98 EUROPE: LACTIC ACID MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 155
TABLE 99 EUROPE: LACTIC ACID MARKET, BY COUNTRY, 2018–2022 (KT) 156
TABLE 100 EUROPE: LACTIC ACID MARKET, BY COUNTRY, 2023–2028 (KT) 156
TABLE 101 EUROPE: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 156
TABLE 102 EUROPE: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 157
TABLE 103 EUROPE: LACTIC ACID MARKET IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2018–2022 (USD MILLION) 157
TABLE 104 EUROPE: LACTIC ACID MARKET IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2023–2028 (USD MILLION) 157
TABLE 105 EUROPE: LACTIC ACID MARKET, BY RAW MATERIALS, 2018–2022 (USD MILLION) 158
TABLE 106 EUROPE: LACTIC ACID MARKET, BY RAW MATERIALS, 2023–2028 (USD MILLION) 158
TABLE 107 EUROPE: LACTIC ACID MARKET, BY FORM, 2018–2022 (USD MILLION) 158
TABLE 108 EUROPE: LACTIC ACID MARKET, BY FORM, 2023–2028 (USD MILLION) 158
11.3.2 GERMANY 159
11.3.2.1 Government regulations to encourage recycling of packaging waste 159
TABLE 109 GERMANY: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 159
TABLE 110 GERMANY: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 159
11.3.3 ITALY 160
11.3.3.1 Ban on conventional plastic items to enhance demand for bioplastic materials 160
TABLE 111 ITALY: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 160
TABLE 112 ITALY: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 160
11.3.4 SPAIN 161
11.3.4.1 Growing awareness regarding use of biodegradable polymers to boost market 161
TABLE 113 SPAIN: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 161
TABLE 114 SPAIN: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 161
11.3.5 FRANCE 162
11.3.5.1 Demand for lactic acid as functional additive to drive market growth 162
TABLE 115 FRANCE: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 162
TABLE 116 FRANCE: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 162
11.3.6 UK 163
11.3.6.1 Demand for bioplastic & biopolymer products projected to grow during forecast period 163
TABLE 117 UK: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 163
TABLE 118 UK: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 163
11.3.7 REST OF EUROPE 164
11.3.7.1 Poland, Netherlands, and Belgium to be major consumers of lactic acid 164
TABLE 119 REST OF EUROPE: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 164
TABLE 120 REST OF EUROPE: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 165
11.4 ASIA PACIFIC 165
FIGURE 51 ASIA PACIFIC: LACTIC ACID MARKET SNAPSHOT 166
11.4.1 ASIA PACIFIC: RECESSION IMPACT 166
TABLE 121 ASIA PACIFIC: LACTIC ACID MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 167
TABLE 122 ASIA PACIFIC: LACTIC ACID MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 167
TABLE 123 ASIA PACIFIC: LACTIC ACID MARKET, BY COUNTRY, 2018–2022 (KT) 168
TABLE 124 ASIA PACIFIC: LACTIC ACID MARKET, BY COUNTRY, 2023–2028 (KT) 168
TABLE 125 ASIA PACIFIC: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 168
TABLE 126 ASIA PACIFIC: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 169
TABLE 127 ASIA PACIFIC: LACTIC ACID MARKET IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2018–2022 (USD MILLION) 169
TABLE 128 ASIA PACIFIC: LACTIC ACID MARKET IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2023–2028 (USD MILLION) 169
TABLE 129 ASIA PACIFIC: LACTIC ACID MARKET, BY RAW MATERIALS, 2018–2022 (USD MILLION) 170
TABLE 130 ASIA PACIFIC: LACTIC ACID MARKET, BY RAW MATERIALS, 2023–2028 (USD MILLION) 170
TABLE 131 ASIA PACIFIC: LACTIC ACID MARKET, BY FORM, 2018–2022 (USD MILLION) 170
TABLE 132 ASIA PACIFIC: LACTIC ACID MARKET, BY FORM, 2023–2028 (USD MILLION) 170
11.4.2 CHINA 171
11.4.2.1 High demand for lactic acid among key players to drive growth of biodegradable polymers 171
TABLE 133 CHINA: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 171
TABLE 134 CHINA: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 171
11.4.3 JAPAN 172
11.4.3.1 Advancements in pharmaceuticals to drive market growth 172
TABLE 135 JAPAN: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 172
TABLE 136 JAPAN: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 172
11.4.4 INDIA 173
11.4.4.1 Advancements in technology for lactic acid usage in food & beverage applications to drive market growth 173
TABLE 137 INDIA: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 173
TABLE 138 INDIA: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 173
11.4.5 AUSTRALIA & NEW ZEALAND 174
11.4.5.1 Rising demand for natural and safe ingredients in personal care products to lead to market growth 174
TABLE 139 AUSTRALIA & NEW ZEALAND: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 174
TABLE 140 AUSTRALIA & NEW ZEALAND: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 174
11.4.6 REST OF ASIA PACIFIC 175
11.4.6.1 Food & beverage manufacturers to opt for lactic acid as alternative to traditional chemicals 175
TABLE 141 REST OF ASIA PACIFIC: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 175
TABLE 142 REST OF ASIA PACIFIC: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 175
11.5 ROW 176
11.5.1 ROW: RECESSION IMPACT 176
TABLE 143 ROW: LACTIC ACID MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 176
TABLE 144 ROW: LACTIC ACID MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 177
TABLE 145 ROW: LACTIC ACID MARKET, BY REGION, 2018–2022 (KT) 177
TABLE 146 ROW: LACTIC ACID MARKET, BY REGION, 2023–2028 (KT) 177
TABLE 147 ROW: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 177
TABLE 148 ROW: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 178
TABLE 149 ROW: LACTIC ACID MARKET IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2018–2022 (USD MILLION) 178
TABLE 150 ROW: LACTIC ACID MARKET SIZE IN FOOD & BEVERAGES, BY SUB-APPLICATION, 2023–2028 (USD MILLION) 178
TABLE 151 ROW: LACTIC ACID MARKET, BY RAW MATERIALS, 2018–2022 (USD MILLION) 179
TABLE 152 ROW: LACTIC ACID MARKET, BY RAW MATERIALS, 2023–2028 (USD MILLION) 179
TABLE 153 ROW: LACTIC ACID MARKET, BY FORM, 2018–2022 (USD MILLION) 179
TABLE 154 ROW: LACTIC ACID MARKET, BY FORM, 2023–2028 (USD MILLION) 179
11.5.2 SOUTH AMERICA 180
11.5.2.1 Biodegradable polymers to witness significant demand as key companies set up manufacturing units in South America 180
TABLE 155 SOUTH AMERICA: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 180
TABLE 156 SOUTH AMERICA: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 180
11.5.3 MIDDLE EAST 181
11.5.3.1 Expansion of food processing industry to drive market growth 181
TABLE 157 MIDDLE EAST: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 181
TABLE 158 MIDDLE EAST: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 181
11.5.4 AFRICA 182
11.5.4.1 Rising plastic usage to lead to increased demand for lactic acid in Africa 182
TABLE 159 AFRICA: LACTIC ACID MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 182
TABLE 160 AFRICA: LACTIC ACID MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 182

　

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