Lactic Acid Market Analysis By Industry Size, And Share, Manufacturers, Demand Forecast 2025
Global lactic acid market is projected to reach $ 8.8 billion by 2025, growing at a CAGR of 18.8% during 2021-2025. Extensive use of lactic acid in cosmetics as well as personal care products, on account of its antimicrobial, rejuvenating and moisturizing properties, is anticipated to drive the market in coming years. Lactic acid is basically used in the pharma industry for pH regulation, metal sequestration and chiral intermediate in pharmaceutical products. Owing to continuing advancements in the pharmaceutical industry, this trend of lactic acid usage in the industry would continue during the forecast period, particularly in emerging economies like India, China and Brazil. Moreover, demand for lactic acid is likely to be fueled by its increasing consumption in end-use application areas. Globally, lactic acid market has been segmented into raw material, application and region. Based on raw material, the market has been categorized into sugarcane, corn, cassava and others. Of th...