Lucintel Forecasts Lactic Acid Market To Grow A Cagr Of 18%-19%

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According to the recent study the lactic acid market is projected to grow at a CAGR of 18%-19% from 2020 to 2025. Growth in this market is primarily driven by growing demand for skincare products such as moisturizers and anti-aging. Lactic acid, being a monomer for the manufacturing of biodegradable polylactic acid, is also one of the driving factor.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in lactic acid market by raw matrial (corn, sugarcane, cassava, and others), source (natural and synthetic), function (preservative, ph regulator, antimicrobial agent, flavour, and others), application (industrial, food & beverage, biodegradable plastics, pharmaceutical, personal care & cosmetics, and others), and region (North America, Europe, Asia Pacific, and Rest of the World).
Download sample report and view detailed Table of Content by clicking on below link – https://www.lucintel.com/lactic-acid-market.aspx
“Corn market is expected to remain the largest segment during the forecast period.”
Based on raw material, the lactic ...
... acid market is segmented into corn, sugarcane, cassava, and others. Lucintel forecasts that the corn is expected to witness the largest segment over the forecast period due to cheap and abundant availability.
“Within the lactic acid market, the food and beverage segment is expected to remain the largest application.”
Based on application, the food and beverage segment is expected to witness the largest application over the forecast period due to broad spectrum of applicability in the food industry.
“Asia Pacific will dominate the lactic acid market in near future.”
Asia Pacific is expected to be the largest region over the forecast period due to rise in the application as the food additive, increased demand in meat and other foods applications of lactic acid, availability of raw materials, innovation in technology, and strong support of big manufacturing companies in the region.
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Major players of lactic acid market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Corbion, Henan Jindan Lactic Acid Technology, Futerro, DuPont, Vigon International, Cargill, Musashino Chemical (China), thyssenkrupp AG, Galactic s.a., BASF, TEIJIN., Synbra Technology bv, NatureWorks LLC, Mitushi Biopharma, Jiangxi Keyuan Bio-Material Co., Ltd., Jiaan Biotech, and others are among the major lactic acid providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/lactic-acid-market.aspx or helpdesk@lucintel.com
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Lucintel
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