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Lactic Acid Market to Grow at CAGR of 12.88% During the Forecast Period 2018-2023

The Global Lactic Acid Market is anticipated to rise at a significant CAGR of 12.88% during the forecast period. Lactic acid is characterized by its importance in food industry and correlated chemical and physical properties. Pure lactic acid is a colourless and hydroscopic liquid and chemically named as milk acid, which is also an inorganic acid.<br>The drivers for lactic acid market include rising use of shampoos, creams and body care products and increase in R&D techniques for formulation of personal care products. Consumer approach towards modernized beauty products and rise in formulation development is likely to propel the market growth for the forecast period.

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Lactic Acid Market to Grow at CAGR of 12.88% During the Forecast Period 2018-2023

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  1. Lactic Acid Market to Grow at CAGR of 12.88% During the Forecast Period 2018- 2023 “The drivers for lactic acid market include rising use of shampoos, creams and body care products and increase in R&D techniques for formulation of personal care products.” The Global Lactic Acid Market is anticipated to rise at a significant CAGR of 12.88% during the forecast period. Lactic acid is characterized by its importance in food industry and correlated chemical and physical properties. Pure lactic acid is a colourless and hydroscopic liquid and chemically named as milk acid, which is also an inorganic acid. The drivers for lactic acid market include rising use of shampoos, creams and body care products and increase in R&D techniques for formulation of personal care products. Consumer approach towards modernized beauty products and rise in formulation development is likely to propel the market growth for the forecast period. Increase in bioplastic applications along with favourable regulations for use of bio-based materials contributes in enlarging the market demand for lactic acid. Further, rise in consumer awareness pertaining to sustainability, green packaging and recyclability is another reason for growth of market. However, significant pricing and volatility in raw material prices is likely to hinder the market growth during the forecast period. Browse Full Research Report @ https://www.millioninsights.com/industry-reports/lactic-acid-market Application segment for market includes food & beverages, pharmaceuticals and personal care. Food & Beverages account for a significant market share due to rise in population and enlarged food demands. Geographical segmentation for market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. North America dominates the global market due to substantial growth and high demand for personal care products. Increase in production of pharmaceutical and personal care products have enlarged the market demand during the forecast period.

  2. Asia-Pacific regions are likely to witness a significant growth rate due to presence of manufacturing base in India, China and Singapore. European regions are likely to gain a significant share in the global market owing to technological enhancements and price volatility. The key players in the lactic acid market include Cargill, Corbion, Galactic, NatureWorks LLC and Pyramid Bioplastics. Get a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/lactic-acid-market/request-sample Market Segment: Report contents include • Analysis of the lactic acid market including revenues, future growth, market outlook • Historical data and forecast • Regional analysis including growth estimates • Analyzes the end user markets including growth estimates. • Profiles on lactic acid including products, sales/revenues, and market position • Market structure, market drivers and restraints. Key regions • North America • Europe • Asia Pacific • Middle East and Africa • South America Key vendors • Corbion N.V. • The Archer Daniels Midland Company • Cargill, Incorporated • Galactic s.a.

  3. • request free sample to get a complete list of companies See More Reports of This Category by Million Insights @ https://www.millioninsights.com/industry/chemicals Get in touch At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions. Contact Person: Ryan Manuel Research Support Specialist, USA Email: ryan@millioninsights.com Global Headquarters Asia Pacific Million Insights Million Insights Felton Office Plaza 6265 Highway 9 Felton, California 95018, United States Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar, Pune, MH, 411016 India Phone: 1-408-610-2300 Email: sales@millioninsights.com Phone: 91-20-65300184 Email: sales@millioninsights.com Visit Our Blog: www.millioninsights.blogspot.com

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