D-lactic Acid Market Size

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

D-lactic Acid Market Size

D-Lactic Acid Market size is set to reach USD 900 Million by the end of 2035, witnessing a around 7% CAGR during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of D-lactic acid was USD 235 Million. The growth of the market can be attributed to the globally increasing utilization of agrochemicals and the rising demand for D-lactic acid in the manufacture of agricultural chemicals. For instance, the value of the worldwide agrochemical market, which was predicted to be around 234 billion dollars in 2019, is expected to surpass 300 billion dollars by 2025.

Further, the D-lactic acid market is anticipated to grow as farmers increase their reliance on specialty chemicals for higher production. According to the World Health Organization, more than a thousand different types of pesticides are used worldwide to keep pests from damaging or destroying crops. Furthermore, D-lactic acid is primarily utilized in the manufacture of PLA, a biodegradable thermoplastic manufactured from renewable sources like lactic acid produced through fermentation processes. The United States Food & Drug Administration has designated PLA as generally recognized as safe (GRAS), giving it a large market potential in the food business.

D-lactic Acid Market
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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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