According toFortune Business Insights,the globallactic acid marketsize was USD 1.18 billion in 2020. The market is projected to grow from USD 1.28 billion in 2021 to USD 2.43 billion in 2028 at a CAGR of 9.6% during the 2021-2028 period.
Source: https://www.fortunebusinessinsights.com/lactic-acid-market-102119
According to our researchers, lactic acid or 2-Hydroxypropanoic acid is a natural biological acid with several applications in the food, pharmaceutical, chemical, cosmetic, and medical industries.
