"Innovative Market Solutions to Help Businesses Make Informed Decisions"

Lactic Acid Market Size, Share & Industry Analysis, By Raw Material (Sugarcane, Corn, Yeast Extract, and Others), By Form (Liquid and Dry), By Application (Polylactic Acid, Food & Beverages, Pharmaceutical, Cosmetics & Personal Care, and Others), and Regional Forecast, 2024-2032

Last Updated: May 17, 2024 | Format: PDF | Report ID: FBI102119

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global lactic acid market size was valued at USD 7.14 billion in 2023 and is projected to grow from USD 8.37 billion in 2024 to USD 31.84 billion by 2032, exhibiting a CAGR of 18.0% during the forecast period.


Lactic acid is a naturally occurring organic acid and is also known as 2-Hydroxypropanoic acid. It is mainly used in industries such as chemicals, food, cosmetics, medical, and pharmaceuticals. It is considered an environmentally friendly product, as it is manufactured from renewable resources by using a sugar fermentation process. The acid is also majorly adopted in the production of Polylactic acid (PLA), a compostable, biodegradable, and thermoplastic polymer manufactured from renewable sources.


Additionally, lactic acid bacteria (LAB) are gaining traction among the key bacteria groups, which offers several health benefits to animals, plants, and humans, such as control of improved digestion of lactose, intestinal infections, and improved nutritional value of food. The growing properties, along with its metabolic activity, are the major factors fueling its demand in key applications, including probiotics, food manufacturing, and the agriculture industry. Moreover, several associations globally have made research & developments on the product and concluded that the acid is safe to use. For instance, as per the U.S. Food and Drug Administration (FDA), lactic acid is generally recognized as a safe additive for miscellaneous purposes. However, the COVID-19 pandemic severely impacted various industries operating in the market. Travel restrictions, along with nationwide lockdown measures, significantly disrupted the supply chains, thereby affecting the adoption of products in the cosmetics and food & beverages industries.


Lactic Acid Market Trends


Low Carbon Footprint of PLA on the Environment to Create Growth Opportunities in the Market


PLA is a relatively new and innovative biopolymer that is bio-based and can be degraded easily. The growing improvements in sugarcane farming led to a reduction in environmental footprint, as a result enhancing PLA efficiency in the manufacturing process and the adoption of renewable energy in the conversion process. Additionally, PLA bioplastic is highly bio-based, thus helping to reduce the carbon footprint and further support its adoption. For instance, major players, including Corbion, launched Luminy PLA, which provides a reduction in carbon footprint by 75% in comparison to traditional fossil-based plastics. The company adopts European sugar beet and Thai sugarcane as raw materials for 2-Hydroxypropanoic acid manufacturing that produces bioplastics.


Furthermore, PLA is manufactured from renewable raw materials, such as sugarcane, sugar beet, corn, and cassava. Such feedstocks are GMO-free crops and thereby make PLA bioplastics biodegradable in the right environment, where they serve as a food source for microorganisms and fungi. Such characteristics of PLA surge its adoption in various established markets, including fresh food packaging, organic waste bags, durable consumer products, 3D printing, non-woven toys, and tea bags.


Initially, most PLA bioplastics cannot withstand high temperatures. However, a company, Total Corbion PLA, has introduced a product with a highly heat-resistant advanced solution for PLA-based bioplastics. Hence, this would further propel the PLA adoption and will fuel the market growth during the forecast period.


Request a Free sample to learn more about this report.


Lactic Acid Market Growth Factors


Growing Cosmetics & Personal Care Industry to Drive Market Growth


Lactic acid, an alpha hydroxy acid (AHA), is mainly found in milk and has been adopted in cosmetic and skincare therapies since ancient times. In recent times, it has been utilized as a pH adjuster, humectant, skin conditioning agent, and exfoliator in several personal care and cosmetic products. Its ability to smooth and brighten skin while reducing the appearance of wrinkles, fine lines, and dark spots makes it a preferred choice in the cosmetics industry. Additionally, the acid is adopted in hair products, as it can strengthen weak hair. The increasing per-capita income, coupled with consumer awareness, is anticipated to boost the adoption of cosmetics and personal care products.


Additionally, rapidly growing personalized ads, famous social influencers and social media users are endorsing cosmetic products, thereby expected to boost personal care as well as cosmetic product sales through online platforms. Many e-commerce businesses and online stores such as Amazon and Alibaba have simplified purchasing items as a result of surging adoption of personal care and cosmetic products. For instance, L'Oreal recorded a rise of 47.2% in e-commerce sales in the first quarter of FY2021, accounting for 26.8% of total sales. Moreover, rising social media impact, rapid digitalization, and creative online marketing are anticipated to surge demand for personal care products. Hence, such factors are anticipated to augment the market growth.


Rising Product Demand in Food & Beverages Industry to Flourish Market Growth


The growing food & beverage industry globally is anticipated to promote product adoption. A significant contributor to lactic acid adoption is its widespread use in fermenting foods. This acid is a common starter culture due to its fermentation ease and functional attributes. This leads to a heightened requirement for encapsulated lactic acid in the production of dry or semi-dry sausage. Moreover, numerous food producers incorporate product into packaged items like bread, desserts, olives, and jams to prolong their shelf life, as it serves as an effective preservative by eliminating and inhibiting bacteria. Additionally, it aids in preventing discoloration and acts as a gelling and curing agent. Consequently, these factors are fueling market growth.


RESTRAINING FACTORS


Fluctuating Raw Material Prices to Hinder Industry Growth


Raw sugar extracted from sugarcane and sugar beet, or dextrose from corn starch or cassava starch, are the key raw materials used for the manufacturing of 2-Hydroxypropanoic acid. Meanwhile, the raw sugar is generally obtained locally based on a particular region's most readily available feedstock. The change in climate and soil conditions affected the farming of raw sugar and caused unavailability sometimes. This also causes fluctuation in raw material prices, along with the rise in commodity costs, which restrains the overall market growth and product demand.


Lactic Acid Market Segmentation Analysis


By Raw Material Analysis


To know how our report can help streamline your business, Speak to Analyst


Sugarcane Segment to Lead the Market Due to Abundant Biomass Material Availability


Based on raw materials, the market is segmented into sugarcane, corn, yeast extract, and others.


The sugarcane segment is anticipated to lead the market during the forecasted timeline owing to the wide availability of biomass materials. Harvesting residue and sugarcane bagasse are abundant resources that could be adopted as feedstock. The growing adoption of sugarcane in the food and biochemical industries, along with rising bioplastics development, will fuel segment growth.


On the other hand, the yeast extract segment is anticipated to grow at a significant growth rate during the forecast period. Yeast, including Saccharomyces cerevisiae, can tolerate lower pH and grow on mineral media, thereby helping to produce 2-Hydroxypropanoic acid to ease acid purification. Moreover, the growing adoption of corn-based products, including pH regulators, acidulates, and microbial activity enhancers, in the food & beverage industry, will stimulate market growth during the review period.


By Form Analysis


Liquid Segment Held Highest Market Share Due to Rising Demand from Food and Pharmaceutical Industries


Based on form, the market is segmented into liquid and dry.


The liquid segment accounted for the highest market share. The rapid expansion of the food and pharmaceutical industries is promoting the adoption of a liquid form of product. Its consumption is mainly increasing as acidulates and preservatives are used in several products such as pickles and salad dressings. In the pharmaceutical industry, it is mainly used as an excipient in oral and topical medications due to its solubilizing properties.


On the other hand, the high dry segment is growing at a significant growth rate in the global market. The high demand for dry forms of products as leavening agents in the production of dry mixes, such as baking powder and beverage powder, will augment the segment growth. Also, the adoption of dry acid for the dyeing and finishing process is increasing in the textile industry.  


By Application Analysis 


Polylactic Acid Segment Accounted for Major Share Owing to its Biodegradable Properties


By application, the market is segmented into polylactic acid, food & beverages, pharmaceutical, cosmetics & personal care, and others.


The polylactic acid segment accounted for the higher lactic acid market share. PLA is a biodegradable thermoplastic polymer achieved from the fermentation of cassava, corn, sugarcane, potato, and cassava. Growing demand for PLA in automotive, food packaging material, engineering plastic, and textiles industries shall augment the segment growth. Also, the biodegradable characteristics of PLA surge its adoption in glasses, tea bags, disposable cups, bottles, and mulch films. Further, PLA generates around 68% fewer greenhouse gases (GHG) and does not emit toxic fumes during production.


Food & beverages segment holds the second-highest market share of the global market. The natural fermentation of food products such as yogurt, soy sauce, cheese, pickles, meat, and sourdough forms lactic acid. It is the main ingredient in the food industry and occurs naturally in many edible products. Its non-toxicity and subsequent recognition as a generally recognized safe substance by the U.S. FDA surge its adoption as an additive in the food industry. The acid serves as a preservative, flavoring agent, or pH regulator in food products. Thereby, it finds its adoption in several food applications, including bakery products, beverage products, salads, confectionery, ready meals, meat products, and dairy products.


REGIONAL INSIGHTS


North America Lactic Acid Market Size, 2023 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


Based on region, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa. 


North America dominated the market with a value of USD 2.85 billion in 2023. The region’s growth is mainly associated with the increasing product demand from the pharmaceutical, and cosmetics, and food & beverage industries. In this region, the U.S. dominates the overall market growth due to the key presence of many pharmaceutical companies such as Pfizer Inc., Merck & Co., and Johnson & Johnson. Additionally, the rapid expansion of the pharmaceutical industry due to advancement and research & development in drug delivery systems is expected to boost PLA adoption.  PLA has a range of applications as a biocompatible and biodegradable polymer in the pharmaceutical industry.  Moreover, the growing demand for naturally derived ingredients in cosmetic & personal care products will further augment the regional growth.


Europe is anticipated to display significant growth owing to the increasing adoption of the product in the bioplastic industry. Increasing concerns about environmental damage along with the detrimental effects of non-biodegradable plastics are anticipated to surge the demand for biodegradable plastics as an ideal substitute. The producers in the region are initiating to increase the adoption of bioplastics in packaging materials as consumer demand for eco-friendly products is likely to rise. The growing consumer awareness related to environmental protection, along with the rising e-commerce industry within the region, is expected to drive the adoption of packaging material. As a result, it is expected to fuel the market growth in the region.  


Asia Pacific is projected to grow at a sustainable growth rate due to increasing product demand as a flavoring, preservative, and curing agent in the food & beverages industry. The major industry growth factors include rising consumer purchasing power coupled with improvement in living standards. Furthermore, the expanding food processing industry will drive market growth in the region during the forecast period.


Rising demand for ready-to-eat delicious food items due to rising per-capita disposable and changes in consumer food consumption behavior is projected to boost the flavor and preservative market. As a result, this shall boost the market growth in South America during the forthcoming years. The market in the Middle East & Africa is expected to witness a significant growth rate due to the expansion of the personal care industry. Factors such as the high penetration of personal care and cosmetics products and high per capita income are predicted to augment the market growth in the region.


To know how our report can help streamline your business, Speak to Analyst


List of Key Companies in Lactic Acid Market


Key Market Players Providing Sustainability Solutions to Various Industries to Strengthen their Market Position


Most of the key players operating in the market invest in research & development activities to innovate developed and sustainable technologies. In March 2021, Corbion introduced a multi-faceted initiative to substantially increase the capacity of lactic acid and its derivatives.


In addition, the key companies are largely engaged in new product launches, production capacity expansion, strategic acquisitions, partnership, and capacity expansion to expand their product portfolio, strengthen their production capacities, and gain a competitive edge in the value chain.


LIST OF KEY COMPANIES PROFILED



KEY INDUSTRY DEVELOPMENTS



  • June 2021: International Flavors and Fragrances (IFF) launched YO-MIX ViV, an “extremely robust” LAB culture for ambient yoghurt and other fermented drinks products. The launch of the product will expand the brand in China.

  • March 2021: Sandoz Inc. launched AmLactin, a new Rapid Relief Restoring Cream. The cream consists of 15% lactic acid, used as an everyday moisturizing cream.

  • March 2021: Galderma announced a European re-launch of Sculptra (injectable poly-L-lactic acid), a collagen stimulator. The product is ideal for treating skin laxity that occurs from aging and collagen loss.

  • January 2021: Corbion will expand lactic acid capacity in North America by around 40% to meet the growing demand for natural ingredients in multiple industries.

  • September 2020: NatureWorks LLC increased the PLA biopolymer capacity at its Blair, Nebraska facility. The projects will be completed by the end of 2021.


REPORT COVERAGE


The report covers a detailed market analysis and focuses on crucial aspects such as leading companies, types, forms, and applications. Further, the report provides insights into market trends and highlights key industry developments. In addition to the factors mentioned above, the report includes various factors that have contributed to the growth of the market in recent years.


To gain extensive insights into the market, Request for Customization


Report Scope & Segmentation



















































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



CAGR (2024-2032)



CAGR of 18.0% from 2024-2032



Unit



Value (USD Billion), Volume (Kiloton)



Segmentation



By Raw Material



  • Sugarcane

  • Corn

  • Yeast Extract

  • Others



By Form



  • Liquid

  • Dry



By Application



  • Polylactic Acid

  • Food & Beverages

  • Pharmaceutical

  • Cosmetics & Personal Care

  • Others



By Region



  • North America (By Raw Material, Form, Application, and Country)

    • U.S. (By Application)

    • Canada (By Application)

    • Mexico (By Application)



  • Europe (By Raw Material, Form, Application, and Country)

    • Germany (By Application)

    • U.K. (By Application)

    • France (By Application)

    • Italy (By Application)

    • Spain (By Application)

    • Rest of Europe (By Application)



  • Asia Pacific (By Raw Material, Form, Application, and Country)

    • China (By Application)

    • India (By Application)

    • Japan (By Application)

    • South Korea (By Application)

    • Rest of Asia Pacific (By Application)



  • South America (By Raw Material, Form, Application, and Country)

    • Brazil (By Application)

    • Rest of Latin America (By Application)



  • Middle East & Africa (By Raw Material, Form, Application, and Country)

    • South Africa (By Application)

    • Saudi Arabia (By Application)

    • Rest of Middle East & Africa (By Application)








Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 7.14 billion in 2023 and is projected to reach USD 31.84 billion by 2032.

Growing at a CAGR of 18.0%, the market will exhibit steady growth over the forecast period (2024-2032).

Polylactic acid is the leading application segment of the market.

The increasing demand from food & beverage and cosmetics & personal care industries will drive the market.

Corbion, NatureWorks, CELLULAC, and Galactic are the leading players in the global market.

North America held the largest market share in 2023.

PLAs low carbon footprint is expected to drive product adoption.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • 2019-2032
  • 2023
  • 2019-2022
  • 350

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Chemicals & Materials Clients

Kpmg
GM
BASF
Mckinsey
LG Chem

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X