D-lactic Acid Market Size

D-Lactic Acid Market size was over USD 251.22 Million in 2023 and is expected to reach USD 598.08 Million by the end of 2036, growing at around 6.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of d-lactic acid is assessed at USD 266.82 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.