Lactic Acid Market is Anticipated to Witness High Growth Owing to Rising Demand from Personal Care & Pharmaceutical Industries
Lactic acid is an organic acid produced naturally through fermentation of sugars by lactic acid bacteria. It is commonly used as an acidulant in food and beverage industry to maintain acidity levels. Lactic acid finds application as a preservative to prevent microbial spoilage. Other applications include use as a chemical intermediate in production of biodegradable polymers such as polylactic acid. Growing emphasis on bio based and sustainable products is augmenting the demand for lactic acid from bioplastics industry. It also serves as a natural moisturizer in personal care products like facial creams. In pharmaceuticals, lactic acid is used as an excipient and active ingredient in various drugs and medicines. The Global Lactic Acid Market is estimated to be valued at US$ 3,124.0 Mn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030. Key Takeaways Key players operating in the Lactic Acid market are Futerro, BASF SE, Galactic, Henan Jindan L...