Lactic Acid Market Size Poised To Reach USD 5.02 Billion By 2028
San Francisco, 3 June 2021: The Report Lactic Acid Market Size, Share & Trends Analysis Report By Raw Material (Sugarcane, Corn, Cassava), By Application (PLA, Food & Beverages), By Region, And Segment Forecasts, 2021 - 2028 The global lactic acid market size is expected to reach USD 5.02 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.0% from 2021 to 2028. The market growth can be attributed to the increasing demand for lactic acid in various end-use industries, including industrial, food and beverages, and pharmaceuticals, especially in emerging economies such as India, China, and Indonesia. Additionally, demand for this product as a feedstock in the production of polylactic acid (PLA) is anticipated to drive the market globally. Various raw materials used for the production of lactic acid include carbohydrates such as corn, sugarcane, sugar beet, and tapioca. A large ...