Lactic Acids Market
REPORT DESCRIPTION
Lactic Acid Market (Food and Beverage, Personal Care, Pharmaceutical,
Biodegradable Plastics and Other End-users) and Polylactic Acid Market
(Packaging, Textile, Electronics, Automotive, Biomedical and Other Endusers) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast
2015 - 2023
Transparency Market Research has released a new market report titled “Lactic Acid Market Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” According to
the report, the global lactic acid market was valued at US$ 1,130.4 Mn in 2014 and is projected to
reach US$ 3,381.8 Mn in 2023, expanding at a CAGR of 13.0% between 2015 and 2023. On the
other hand, the global polylactic acid market was valued at US$ 400.1 Mn in 2014 and is estimated to
reach US$ 1,358.1 Mn in 2023, expanding at a CAGR of 14.6% between 2015 and 2023.
Lactic acid is one of the key carboxylic acids used in biodegradable plastics and food and beverage
industries. It is primarily used as a pH regulator in the food and beverage industry. In addition, lactic
acid is employed in personal care and pharmaceutical industries. Growing downstream markets such
as bio-based plastics is estimated to result in sustainable growth in the lactic acid market during the
forecast period.
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Biodegradable plastics was the largest end-user segment of the lactic acid market with more than
30% share in 2014. It is expected to be the fastest growing segment of the lactic acid market during
the forecast period. Food and beverage, personal care, and pharmaceutical segments are also
anticipated to account for significantly high share in the lactic acid market in the near future.
Increasing demand for bioplastics is likely to augment the demand for biodegradable plastics in the
lactic acid market in the near future.
Polylactic acid belongs to the group of bioplastics and is primarily used in packaging, textile,
electronics, and various other end-user industries. It is chiefly used in packaging of food and
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