Latin America Lactic Acid Market By Application (Electronics, Agriculture, Packaging, Textile, Biomedical And Others) And By Region (Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2024 to 2029)

Updated On: January, 2024
ID: 7219
Pages: 145

Latin America Lactic Acid Market Size, Share, Growth (2022-2027)

Latin America Lactic Acid Market was worth USD 0.43 billion in 2021 and is estimated to be growing at a CAGR of 14.74%, to reach USD 0.86 billion by 2027.


Lactic Acid is a white compound that is water soluble in a solid state and colorless in a liquid state. In the industry, lactic acid is produced by fermentation by lactic acid bacteria which converts carbohydrates like glucose, galactose and sucrose into lactic acid.

Latin America Lactic Acid Market Overview

Lactic Acid has a wide range of applications. It is used in the dairy industry to make yogurt and cheese. It is used as a humectant in the textile industry to enhance the moisture in fabric so that dyes can attach to them. It is used in the leather tanning process. It is used in preparing lacquers and inks. In the pharmaceutical industry, it is used as a starting substance to prepare other substances. It’s variants are approved as food additives in various countries. It is widely used in preparing foods of various kinds.The Latin America Lactic Acid market is driven by factors such as the rising use of shampoos, creams and body care products, the growing pharmaceutical industry, growing petrochemical products, rising awareness among people regarding recyclability and sustainability, and the increasing number of bioplastic applications among others. However, the chief constraint which is faced by this market are high price of PLA over other conventional polymers and the volatility of prices of raw materials like corn and sugar.

Latin America Lactic Acid Market Segmentation

on the basis of application

  • electronics

  • agriculture

  • packaging

  • textile

  • biomedical

In the marine sector, lactic acid is used as a descaling agent which is resulting in increasing use expected to drive the market in regions like Australia, UK and UAE. Personal care segment is expected to grow at a significant rate in regions like Middle East, Latin America and Western parts of Africa.

Latin America Lactic Acid Market Regional Analysis

based on geography

  • Brazil

  • Argentina

  • Chile

  • Peru

The market in this region is in its initial stages of growth. Factors such as rising awareness about recyclability and growing personal care industry is expected to propel the market growth in the region.

Latin America Lactic Acid Market Keyplayers

  1. BASF SE (Germany)

  2. CSM N.V. (The Netherlands)

  3. The Dow Chemical Company (U.S.)

  4. Teijin Ltd. (Japan)

  5. NatureWorks LLC (U.S)

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