According to a new market report by Lucintel, the future of the lactic acid market looks promising with opportunities in the food and beverage, personal care, pharmaceutical , and biodegradable plastic industries. The lactic acid market is expected to grow with a CAGR of 9% from 2019 to 2024. The major growth drivers for this market are growth in end use applications, increase in demand for lactic acid-based personal care products, increasing consumer preference for eco-friendly packaging, and rising crude oil prices.
In this market, corn, sugarcane, and cassava are the major raw material types of the lactic acid market.
Within the lactic acid market, food & beverage, personal care, pharmaceutical, and biodegradable plastics are the major end use industries. Biodegradable plastic is the largest end use segment for lactic acid.
North America will remain the largest market over the forecast period due to extensive demand for bioplastics.
BASF SE, Teijin Ltd, The DowDuPont Chemical Company, Corbion N.V., Meredian Holdings Group, Inc., Natureworks LLC, Henan Jindan Lactic Acid Technology Co. Ltd, Synbra Technology B.V., WEI MON Industry Co., Ltd., and Galactic S.A. are among the major manufacturers of lactic acid
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the lactic acid market by end use industry, raw material, and region. Lucintel has prepared a comprehensive research report entitled "Lactic Acid Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the lactic acid market by end use industry, raw material, and region as follows:
By End Use Industry [$M shipment analysis for 2013 – 2024]:
• Food and Beverage
• Personal Care
• Pharmaceutical
• Biodegradable Plastics
• Others
By Raw Material [$M shipment analysis for 2013 – 2024]:
• Corn
• Sugarcane
• Cassava
• Others
By Region [$M shipment analysis for 2013 – 2024]:
• North America
− The US
− Canada
− Mexico
• Europe
− Germany
− Spain
− France
− The United Kingdom
− Russia
• Asia Pacific
− China
− Japan
− India
− South Korea
− Thailand
• Rest of the World

More than 150-page research report will enable you to make confident business decisions in this competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link…… [email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.

This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high growth opportunities for the lactic acid market by raw material (corn, sugarcane, cassava, and others), end use industry (food & beverage, personal care, pharmaceutical, biodegradable plastic, and others), and region (North America, Europe, APAC, and Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the lactic acid market?
Q.5 What are the business risks and threats to the lactic acid market?
Q.6 What are the emerging trends in the lactic acid market and the reasons behind them?
Q.7 What are some changing demands of customers in the lactic acid market?
Q.8 What are the new developments in the lactic acid market? Which companies are leading these developments?
Q.9 Who are the major players in the lactic acid market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last five years in the lactic acid market?