Market Size of Africa Lactic Acid Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.30 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Africa Lactic Acid Market Analysis
Africa Lactic Acid Market is projected to grow at a CAGR of 6.3% during the forecast period (2020-2025).
- Lactic acid demand in the food and beverage market is growing with the emerging technology and the growing demand in applications. Due to various functional properties of lactic acid, it is used as a key ingredient in food and beverage products.
- The major drivers for the lactic acid market are increased demand in food applications of lactic acid, availability of cheap raw materials, various functional properties of lactic acid, and regulatory approval by international regulations.
