According to Fortune Business Insights™, the global lactic acid market size 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

Report Coverage

The market report provides a rounded evaluation of the market segments. A wide-ranging study of the modern trends and impending opportunities in the market is offered in the report. It offers an exhaustive analysis of the regional insights and how they form the market in particular regions.  

Drivers and Restraints

Growing Cosmetic and Personal Care Industry to Drive Market Growth

Lactic acid is used as a humectant, exfoliator, pH adjuster, and skin prepping agent in various beautifying and personal maintenance products. It smoothens, revitalizes, and sets an even skin texture while appearing firmer. It aids in declining the look of acne spots, wrinkles, and fine lines on the skin. Additionally, the product is incorporated in hair products because of its capability to reinforce fragile hair. Moreover, the upsurge in user consciousness and augmented disposable income are anticipated to amplify the demand for cosmetics and individual maintenance products and further thrust the market development.