Global Lactic Acid Market by Applications and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

Global Lactic Acid Market is valued to reach USD 3.5 Billion by 2020, growing at CAGR of 16.2% over the forecast period 2020–2026. Rising demand for anti-acne and anti-aging products, availability of convenient and easy-to-use skincare products for travelling are the factors anticipated to drive the market growth.

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Lactic acid is an acid which are usually found in sour milk and are also produced in the muscle tissue when a person exercises. They are usually colourless or yellowish. They are also prepared by the fermentation of molasses, potatoes, corn-starch and other. They can be processed synthetically and naturally. They are widely used in application such as food & beverages, personal care, industrial, polyactic acid and other. As they are biocompatible and biodegradable in nature they are also used labelling and packaging material.

Market Trends, Drivers, Restraints, and Opportunities:

Lactic acid enhances skin, providing it with lightening effect, accelerates exfoliation, and renews the cells. Rising emphasis on esthetic appeal among youth and increasing disposable income are major factors creating opportunities and driving the growth of the market.
The demand for lactic acid is anticipated to increase in the food & beverage industry due to its increasing use as a flavoring agent and a preservative.
Volatile raw material prices and high initial investments are estimated to restrain the growth of the market.
Lactic acid is a major ingredient in intravenous fluids. This, in turn, fuels its demand in the pharmaceutical industry.