Dublin, July 27, 2023 (GLOBE NEWSWIRE) The "Lactic Acid Market Size, Share & Trends Analysis Report By Raw Material (Sugarcane, Corn, Cassava), By.
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The global lactic acid market size is expected to reach USD 5.02 billion by 2028, expanding 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 share of this product produced globally is obtained through the fermentation process owing to its lower production costs as well as rising consumer awareness regarding sustainable and environmentally friendly products. The production process is commercially mature wit