Market Size of Asia-Pacific Lactic Acid Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.70 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Lactic Acid Market Analysis
The Asia-Pacific lactic acid market is anticipated to witness a CAGR of 8.7% over the forecast period, 2020-2025.
- Demand for lactic acid in the food and beverage industry is growing with the emergence of new technology and the growing demand in applications. Due to various functional properties of lactic acid, it is used as a critical ingredient in food and beverage products.
- Lactic acid is commercially available in various grades depending upon its purity. China and Japan are the major markets for lactic acid in the region. China is the largest exporter and producer of lactic acid in the Asian market and the second-largest exporter worldwide.
