Lactic Acid Market Is Estimated To Exhibit At USD 5.8 Billion By 2030
San Francisco, 3 Nov 2022: The Report Lactic Acid Market Size, Share & Trends Analysis Report By Raw Material (Sugarcane, Corn, Cassava), By Application (PLA, Food & Beverages, Personal Care, Pharmaceuticals), By Region, And Segment Forecasts, 2022 - 2030 The global lactic acid market size is expected to reach USD 5.8 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.0% from 2022 to 2030. 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. COVID-19 had a substantial effect on the expansion and dynamics of various businesses. Customers were concerned about social distancing, immunity, and