Home >> News >> Business >> Global Lactic Acid Market Is Projected To Reach USD 4,129.19 Million By 2022

Global Lactic Acid Market Is Projected To Reach USD 4,129.19 Million By 2022

The global market for lactic acid Market was valued USD 1,275.00 million In 2014, and is projected to reach USD 4,129.19 million by 2022 growing at a CAGR of 16.9% from 2015 to 2022. In terms of volume in 2014 the global market for lactic acid was 750.00 kilo tons and is projected to reach 1,844.56 kilo tons by 2022 growing at a CAGR of 12.9% from 2015 to 2022.

Browse full report: https://www.credenceresearch.com/report/lactic-acid-market

The report includes forecast and analysis for the Lactic Acid market on a global and regional level. The research gives important data of 2016, 2017 and 2018 along with a projection from 2018 to 2026 based on revenue. The study covers drivers and limitations of the Lactic Acid market along with the impact they have on the trade over the forecast period. Additionally, the report covers the study of possibilities available in the Lactic Acid market on a global level.

Target Audience

  • Industry investors
  • Raw material suppliers
  • Distributors
  • Manufacturers
  • Retailers
  • Companies who want to enter the market and companies who want to diversify their product portfolio

Request for Customizationhttps://www.credenceresearch.com/request-for-customization/57759

The global market for lactic acid is witnessing growth on the back of increasing applications of lactic acid for manufacturing of polylactic acid (PLA). In addition, rising demand from other end user industries such as personal care products and food and beverages are other factors contributing towards the market growth. However, volatility in the prices of raw material is the major factor restraining the market growth. Rising demand for eco-friendly packaging and increasing scope of applications of lactic acid in end user industries are the factors which will provide huge market potential.

In 2014, food and beverages application accounted for the largest share of the market pie followed by industrial applications. Food and beverages segment accounted for more than 40% share of the pie in 2014. But, industrial applications is projected to be the fastest growing application of lactic acid. It is projected to grow at a CAGR of 18.3% from 2015 to 2022.

North America is the largest market for lactic acid and is projected to grow at a CAGR of 13.1% from 2015 to 2022 in terms of volume. The market is driven by growing PLA market and rising demand from the other established end uses continues to increase. Asia Pacific market is projected to be the fastest growing market at a CAGR of 17.5% from 2015 to 2022 in terms of revenue. Japan and China will be the major contributor towards the market growth. European market is projected to grow at a moderate growth rate.

Globally, Purac, Cargill and Henan Jindan Lactic Acid Technology Co., Ltd are the top three manufacturers of lactic acid. BASF SE, The DOW Chemical Company, Corbion N.V., and Synbra Technology B.V. are the other major players present in this market.

Request a Sample of Lactic Acid Market research report from – https://www.credenceresearch.com/sample-request/57759

Reasons for Buying Lactic Acid market:

This report provides pin-point analysis for changing competitive dynamics

It provides a forward looking perspective on different factors driving or restraining market growth

It provides a six-year forecast assessed on the basis of how the market is predicted to grow

It helps in understanding the key product segments and their future

It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors

It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.

Do You Have Any Query or Specific Requirement? Ask to Our Industry Expert @ https://www.credenceresearch.com/inquiry-before-buying/57759

About Us

Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.

Media Contact

Company Name: Credence Research, Inc.

Contact Person: Chris Smith, Global Sales Manager

Email: sales@credenceresearch.com

Phone: +1-800-361-8290

Address: 105 N 1st ST #429, SAN JOSE, CA 95103 US

City: SAN JOSE

State: California

Country: United States

Website: https://www.credenceresearch.com/

Leave a Reply

Your email address will not be published. Required fields are marked *