According to Fortune BusinessInsights™, the global lactic acid market size was USD 1.18 billionin 2020. The market is projected to grow from USD 1.28 billion in 2021 to USD
2.43 billion in 2028 at a CAGR of 9.6% during the 2021-2028 period.
According to our researchers, lacticacid or 2-Hydroxypropanoic acid is a natural biological acid with several
applications in the food, pharmaceutical, chemical, cosmetic, and medical
industries. It is formed by fermenting sugar acquired from renewable means,
terming it as an eco-friendly creation. The product is generally utilized in polylactic
acid (PLA) formation, a compostable thermoplastic and recyclable polymer
created from renewable mediums.
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Report Coverage
The market report provides a roundedevaluation of the market segments. A wide-ranging study of the modern trends
and impending opportunities in the market is offered in the report. It offers
an exhaustive analysis of the regional insights and how they form the market in
particular regions. The impact of the COVID-19 pandemic is mentioned for
further comprehension of the conceivable threats in the market. The proficient
strategies of the best players and how they accelerate the market growth are
discussed in the following report
Drivers and Restraints
Growing Cosmetic and Personal CareIndustry to Drive Market Growth
Lactic acid is used as a humectant,exfoliator, pH adjuster, and skin prepping agent in various beautifying and
personal maintenance products. It smoothens, revitalizes, and sets an even skin
texture while appearing firmer. It aids in declining the look of acne spots,
wrinkles, and fine lines on the skin. Additionally, the product is incorporated
in hair products because of its capability to reinforce fragile hair. Moreover,
the upsurge in user consciousness and augmented disposable income are
anticipated to amplify the demand for cosmetics and individual maintenance
products and further thrust the market development.
Segmentation
Based on raw materials, the globalmarket is segregated into sugarcane, corn, yeast extract, and others. In terms
of region, the market is bifurcated into North America, Europe, Asia Pacific,
South America, and the Middle East & Africa.
