Demand for Lactic Acid Projected to Increase in Asia-Pacific
People nowadays are increasingly making use of cosmetic products,
as the focus on physical appearance has risen significantly. The surging
usage of social media platforms and increased standard of living is
further contributing to the rising consciousness regarding physical
appearance. Moreover, due to improved economic conditions, the
disposable income of people has increased significantly, owing to which,
they are able to afford pharmaceutical and cosmetic products. This
expansion of the cosmetic industry is also resulting in the growing
demand for raw materials that are used in the industry.
One
of such products is lactic acid, and it is utilized in the production
of chemical peels, anti-aging products, and skin hydrating agents. The
compound exists naturally in fluid and solid form. The acid is also
produced commercially for application in a number of industries. Other
than the cosmetic industry, lactic acid is also used for synthesizing
lactic acid polymers, which are now being utilized as biodegradable
plastics. It is due to such factors that the global lactic acid market is predicted to grow at a considerable pace in the near future.
The
key application areas of lactic acid are food and beverage,
biodegradable polymers, skin & personal care, and pharmaceuticals
industries. Out of these, the food & beverages industry is predicted
to make the most use of lactic acid in the years to come, as the
compound is being widely used in the number of food products. The demand
for such food products is also expected to rise in the near future, as
the population is increasing rapidly across the globe. This is further
projected to drive the demand for lactic acid. Other than this, the
demand for lactic acid is also predicted to increase significantly in
the skin & personal care industry in the coming years.
Geographically,
the Asia-Pacific region is expected to register considerable demand for
the compound in the years to come, thereby emerging as the
fastest-growing lactic acid market
in the years to come. This is owing to the surging usage of lactic acid
in various industrial applications. In addition to this, countries
including China and India are rapidly emerging as major markets for food
& beverage and healthcare products due to enhanced living
standards. This is predicted to open up wide opportunities for the
companies operating the domain. Apart from this, North America is
expected to make the most use of lactic acid in the coming years, owing
to the growth of the cosmetic industry.
