Surging utilization of cosmetics & personal care goods owing to development of sophisticated products coupled with increased focus on formulation enhancement for targeted consumer groups is likely to propel the market during the forecast period. The Global Lactic Acid Market size is poised to reach USD 8.77 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 18.7% during the forecast period. Lactic acid is used to produce implants, dialysis solution, pills, controlled drug release systems, and surgical sutures in the pharmaceutical industry. The product is also used for manufacturing cosmetics and hygiene products in the personal & oral care industry owing to its rejuvenating, antimicrobial, and moisturizing properties. Some of the latest applications of lactic acid are production of biocompatible & biodegradable PLA polymers, oxygenated chemicals, and solvents. In the food industry, the product is used as a pH reg...