Lactic Acid and Polylactic Acid Market Forecast, Trends, Growth
Lactic Acid and Polylactic Acid Market Forecast
The lactic acid market is estimated at USD 1.6 billion in 2023 and is projected to reach USD 2.8 billion by 2028, at a CAGR of 12.4% from 2023 to 2028. The global polylactic acid market is anticipated to be valued at USD 1.3 billion in 2023 and escalate to USD 2.9 billion in 2028 by growing at a CAGR of 17.7%.
The surging concerns over global warming...
New Revenue Sources in the Lactic Acid and Polylactic Acid Market
Lactic Acid and Polylactic Acid Market Overview
Lactic acid is an organic acid that can be produced through fermentation or chemical synthesis. It has various applications, including food and beverages, pharmaceuticals, personal care products, and industrial uses. The demand for lactic acid has been increasing due to its biodegradability and versatility. Polylactic Acid (PLA) is a biodegradable...