According to Fortune Business Insights™, the global lactic acid market size was valued at USD 7.14 billion in 2023 and is projected to grow from USD 8.37 billion in 2024 to USD 31.84 billion by 2032, exhibiting a CAGR of 18.0% during the forecast period.

According to our researchers, lactic acid 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.

List of Key Players Covered in Lactic Acid Market Report are:

• BASF SE (Ludwigshafen, Germany)
• Corbion (The Netherlands)
• NatureWorks LLC (Minnesota, U.S.)
• CELLULAC (London, U.K.)
• Galactic (Escanaffles, Belgium)
• Sulzer Ltd (Winterthur, Switzerland)
• GODAVARI BIOREFINERIES LTD. (Mumbai, India)
• Cargill, Incorporated (Minnesota, U.S.)
• Kemin Industries, Inc. (Iowa, U.S.)
• Henan Jindan Lactic Acid Technology Co. Ltd (Hertogenbosch, The Netherlands)

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Report Coverage:

The market report provides a rounded evaluation 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:

Q1: What is driving the growth of the lactic acid market?

• **Growing Cosmetic and Personal Care Industry:**Lactic acid plays a crucial role as a humectant, exfoliator, pH adjuster, and skin-prepping agent in skincare products.
  • Smoothens and revitalizes skin for an even texture.
  • Reduces acne spots, wrinkles, and fine lines.
  • Strengthens fragile hair when used in hair care products.Rising disposable incomes and growing awareness of personal grooming are expected to boost the demand for cosmetics, thereby driving the lactic acid market.