D-lactic Acid Market Share

  • Report ID: 3952
  • Published Date: Aug 06, 2023
  • Report Format: PDF, PPT

D-lactic Acid Market Share

APAC Market Statistics

The market share of D-lactic acid in Asia Pacific is poised to be the largest with a share of 35 % by the end of 2035. The market is expanding owing to the area's large population and rapidly growing and evolving middle class, which is driving demand for products that are environmentally friendly and sustainable. The increasing industrial activity and urbanization in the Asia Pacific additionally fuel the need for D-lactic acid in sectors including industrial packaging, textiles, and plastics. As many local governments and organizations are supporting green initiatives along with more people becoming aware of the benefits of using bio-based materials, the market for D-lactic acid is growing. Furthermore, increased agricultural activity in the area, backed by rising pesticide use, can be credited to the market's expansion. In 2018, the Food and Agriculture Organization (FAO) reported that Asia accounted for more than 50% of all worldwide pesticide consumption. China utilized a total of 1,774 thousand tonnes of insecticides in the same year. Apart from this, a large section of the population in the APAC region is involved in agriculture. According to a World Bank estimate, 60.4% of land, and 56.1% of land in China in India were used for agricultural purposes in 2018.  

North American Market Forecast

The market in North America, is projected to hold a majority of the share by the end of 2035. The demand for D-lactic acid for a variety of applications, including pharmaceuticals, and industrial applications, is driven by the region's significant presence of key companies in the chemical and biotechnology industries. Additionally, owing to increasing chemical imports and consumption in the region, the market in North America is expected to increase its market share over the forecast period.

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D-lactic Acid Market Size
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Author Credits:  Rajrani Baghel

  • Report ID: 3952
  • Published Date: Aug 06, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing Utilization in the Food and Beverage Industry and Upsurging Consumer Preferences for Natural Ingredients are the major factors driving the market growth.

The market size of d-lactic acid is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023-2035.

The major players in the market are BASF SE, Corbion NV, Lallemand Inc., GALACTIC Group, Tate & Lyle PLC, Musashino Chemical Laboratory, Ltd., Juneng Golden Corn Co. Ltd., and others.

The above 90% segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
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