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The "Global 2-hydroxypropionic Acid Market" size was valued at US$ 567.8 million in 2024 and is projected to reach US$ 787.4 million by 2030, at a CAGR of 5.6% during the forecast period 2024-2030.

The "United States 2-hydroxypropionic Acid Market" size was valued at US$ 156.7 million in 2024 and is projected to reach US$ 212.3 million by 2030, at a CAGR of 5.2% during the forecast period 2024-2030.

2-Hydroxypropionic acid, also known as lactic acid, is an organic acid with the chemical formula C₃H₆O₃. It consists of a hydroxy group (-OH) and a carboxyl group (-COOH) attached to a propyl chain. Lactic acid is widely used in the food industry as a preservative, in the production of biodegradable plastics, and in various pharmaceutical applications. It is also a byproduct of anaerobic metabolism in muscles during intense exercise.

The global 2-hydroxypropionic Acid market is experiencing moderate growth, driven by food industry demand and increasing biodegradable polymer applications. In 2023, total production reached 350,000 metric tons, with food and beverage preservation accounting for 45% of demand. The polymer-grade segment is the fastest-growing at 6.8% annually. The market saw a 15% increase in demand for natural fermentation-derived acid in 2023, reflecting clean label trends. Food-grade acid dominates with a 55% market share, while industrial applications are growing at 6% annually. Asia Pacific leads with a 40% market share and is also the fastest-growing region at 6.5% CAGR. The industry is focusing on developing sustainable production methods, with a 20% growth in R&D investments for bio-based processes.

Report Overview
Lactic acid has a systematic name that is 2-hydroxypropionic acid, which is widely existed in nature. Lactic acid is formed when glucose is broken down for energy in the absence of sufficient oxygen.

2-hydroxypropionic Acid Market provides a deep insight into the global 2-hydroxypropionic Acid market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.

The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global 2-hydroxypropionic Acid Market, 2-hydroxypropionic Acid Market introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.

In a word, 2-hydroxypropionic Acid Market is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the 2-hydroxypropionic Acid market in any manner.

Global 2-hydroxypropionic Acid Market: Market Segmentation Analysis
The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Key Company

• Corbion
• Naturework
• Galactic
• Henan Jindan Lactic Acid Technology
• COFCO Biochemical
• Musashino Chemical
• Wuhan Sanjiang Space Good Biotech
• Shanxi Biochemical
• Jungbunzlauer
• Zhengzhou Tianrun
• Shangdong Fullsail

By Type

• Food Grade
• Industrial Grade
• Pharmaceutical Grade

By Application

• PLA
• Pharmaceutical
• Home & Personal Care
• Industrial Applications
• Food & Beverage
• Others

Geographic Segmentation

• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
• South America (Brazil, Argentina, Columbia, Rest of South America)
• The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Key Benefits of This Market Research:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the 2-hydroxypropionic Acid Market
• Overview of the regional outlook of the 2-hydroxypropionic Acid Market:

Key Reasons to Buy this Report:

• Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change
• This enables you to anticipate market changes to remain ahead of your competitors
• You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents
• The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market from various perspectives through Porter