According to this report, the Lactic Acid market accounted for $2.65 billion in 2017 and is expected to reach $13.23 billion by 2026 growing at a CAGR of 19.6%.
Factors influencing the market growth include rising demand for environment-friendly products, increasing demand for green packaging and growing medical expenditure coupled with the growth of pharmaceutical industries. However, factors such as fluctuation in raw material prices are hindering the market growth.
Based on end user, biodegradable polymers segment is expected to have considerable market share due to growing environmental concerns from petroleum-based polymers, increasing consumer awareness about eco-friendly packaging, fluctuation in oil prices and rising demand for natural, sustainable and green products.
By geography, North America was the dominant market. The region is likely to show extensive growth in light of high demand for PLA and personal care products. Rising pharmaceutical and fragrance industry is expected to drive industry expansion in North America. Rising pharmaceutical industry in the U.S. and Mexico due to government support and increasing investment by local participants will fuel industry expansion over the upcoming years.
Key Topics Covered
1 Executive Summary
3 Market Trend Analysis
4 Porters Five Force Analysis
5 Global Lactic Acid Market, By Source
6 Global Lactic Acid Market, By Function
7 Global Lactic Acid Market, By Ingredients
8 Global Lactic Acid Market, By End-User
9 Global Lactic Acid Market, By Application
10 Global Lactic Acid Market, By Geography
11 Key Developments
12 Company Profiling
- The DOW Chemical Company
- Chongqing Bofei Biochemical Products
- Wuhan Sanjiang Space Good Biotech
- Yancheng Haijianuo Biological Engineering
- Myriant Corporation
- Vaishnavi Bio Tech
- Teijin Limited
- Henan Jindan Lactic Acid Co. Ltd.
- Natureworks LLC
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