Lactic Acid Market Future Innovations and Strategic Directions
The global lactic acid market is poised for significant growth, with an estimated value of USD 3.37 billion in 2023 and a projected CAGR of 8.0% from 2024 to 2030. This growth is primarily driven by the increasing demand for lactic acid in various end-use industries, particularly pharmaceuticals, food, and beverages, especially in emerging economies like India, China, and Indonesia.
Lactic acid is a versatile chemical compound with a wide range of applications. One of its primary uses is in the production of polylactic acid (PLA), a biodegradable and compostable polymer derived from renewable sources like fermentation processes. This eco-friendly nature of PLA, coupled with its safety profile as a GRAS substance recognized by the U.S. Food and Drug Administration, makes lactic acid highly attractive for the food industry.
Gather more insights about the market drivers, restrains and growth of the Lactic Acid Market
Lactic acid can be produced through either chemical synthesis or fermentation processes. As a well-established organic acid, it finds extensive use across various industries, including food, chemicals, pharmaceuticals, and cosmetics. In the food industry, lactic acid serves as a key ingredient in numerous applications, such as winemaking, pickling, sausage production, fish curing, meat processing, vegetable preparation, baking, and the production of fermented dairy products.
Furthermore, lactic acid is associated with beneficial bacteria known as lactic acid bacteria (LAB). These probiotic microorganisms play a crucial role in maintaining gut health and overall well-being. Their presence in various food products contributes to their nutritional value and potential health benefits.
Form Segmentation Insights
Dry form lactic acid dominated the market in the year 2023. One of the primary drivers aiding the dry lactic acid market growth of is its usage in the formation of polylactic acid (PLA), a biodegradable polymer. PLA is widely used in packaging materials, textiles, and medical applications. Dry form is used in the formation of fermented foods such as sauerkraut, kimchi, and sour beers. It acts as a natural preservative and contributes to the unique flavors and textures of these forms. Dry form of lactic finds application in cosmetics and food & beverages industries.
Wet form of lactic acid is a colorless or yellow syrupy liquid with its own distinctive characteristics. It is miscible with water, forming a colorless solution when dissolved. It is used in cosmetics, skincare forms, and hair care formulations due to its exfoliating, moisturizing, and pH-regulating properties. It is also utilized in the flavors and fragrances industry as a souring agent, imparting a tangy flavor to various food and beverage forms. They are primarily used in pharmaceutical, dairy and textile industries.
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