Press release
Lactic Acid and Poly Lactic Acid (PLA) Market: Growing Popularity & Emerging Trends | Corbion, NatureWorks, Galactic
Lactic Acid and Poly Lactic Acid (PLA) Market
The Lactic Acid and Poly Lactic Acid (PLA) Market have seen a market size of USD $4.5 billion in 2023 and estimated to reach USD $12 billion by 2030, growth at a CAGR of 13%. Pre Covid, back in 2019 it was ranging ~ USD $2.9 billion and since then market have recovered completely and showing robust growth.
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The Lactic Acid and Poly Lactic Acid (PLA) Market involves the production and application of lactic acid and PLA, which are derived from renewable resources such as corn starch and sugarcane. Lactic acid is widely used in food and beverages, pharmaceuticals, and personal care products, while PLA is a biodegradable polymer used in packaging, textiles, and medical applications. The market is driven by the growing demand for biodegradable materials, particularly in packaging and single-use plastics, as well as increasing consumer awareness about sustainability. Key trends include the development of high-performance PLA for 3D printing and the expansion of bioplastics production capacity globally.
Geographically, North America have shown robust growth in Lactic Acid and Poly Lactic Acid (PLA) market and Asia-Pacific region is growing at fastest pace.
Market Trends:
• Development of high-performance PLA for advanced applications, Increasing investment in bio-based plastic production, Adoption of PLA in 3D printing technologies
Market Drivers:
• Increasing demand for sustainable and biodegradable materials, Regulatory support for reducing plastic waste, Growth of bioplastics market
Market Challenges:
• High production costs compared to conventional plastics, Limited end-of-life disposal options, Raw material supply challenges
The segments and sub-section of Lactic Acid and Poly Lactic Acid (PLA) market is shown below:
The Study is segmented by the following Product/Service Type: Food-grade lactic acid, Industrial-grade lactic acid, High-performance PLA, Standard PLA, Biodegradable plastics
Major applications/end-users' industry are as follows: Packaging, Single-use plastics, Medical devices, Textiles, Food additives
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Important years considered in the Lactic Acid and Poly Lactic Acid (PLA) study:
Historical year - 2019-2023; Base year - 2023; Forecast period** - 2024 to 2030 [** unless otherwise stated]
If opting for the Global version of Lactic Acid and Poly Lactic Acid (PLA) Market; then below country analysis would be included:
• North America (USA, Canada and Mexico)
• Europe (Germany, France, the United Kingdom, Netherlands, Italy, Nordic Nations, Spain, Switzerland and Rest of Europe)
• Asia-Pacific (China, Japan, Australia, New Zealand, South Korea, India, Southeast Asia and Rest of APAC)
• South America (Brazil, Argentina, Chile, Colombia, Rest of countries etc.)
• Middle East and Africa (Saudi Arabia, United Arab Emirates, Israel, Egypt, Turkey, Nigeria, South Africa, Rest of MEA)
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Key Questions Answered with this Study
1) What makes Lactic Acid and Poly Lactic Acid (PLA) Market feasible for long term investment?
2) Know value chain areas where players can create value?
3) Territory that may see steep rise in CAGR & Y-O-Y growth?
4) What geographic region would have better demand for product/services?
5) What opportunity emerging territory would offer to established and new entrants in Lactic Acid and Poly Lactic Acid (PLA) market?
6) Risk side analysis connected with service providers?
7) How influencing factors driving the demand of Lactic Acid and Poly Lactic Acid (PLA) in next few years?
8) What is the impact analysis of various factors in the Lactic Acid and Poly Lactic Acid (PLA) market growth?
9) What strategies of big players help them acquire share in mature market?
10) How Technology and Customer-Centric Innovation is bringing big Change in Lactic Acid and Poly Lactic Acid (PLA) Market?
Browse Executive Summary and Complete Table of Content @ https://www.htfmarketreport.com/reports/4269405-global-lactic-acid-and-poly-lactic-acid-3
There are 15 Chapters to display the Lactic Acid and Poly Lactic Acid (PLA) Market
Chapter 1, Overview to describe Definition, Specifications and Classification of Lactic Acid and Poly Lactic Acid (PLA) market, Application [Packaging, Single-use plastics, Medical devices, Textiles, Food additives] And Market Segment by Types [Food-grade lactic acid, Industrial-grade lactic acid, High-performance PLA, Standard PLA, Biodegradable plastics];
Chapter 2, objective of the study.
Chapter 3, Research methodology, measures, assumptions and analytical tools
Chapter 4 and 5, Lactic Acid and Poly Lactic Acid (PLA) Market Trend Analysis, Drivers, Challenges by consumer behaviour, Marketing Channels, Value Chain Analysis
Chapter 6 and 7, to show the Lactic Acid and Poly Lactic Acid (PLA) Market Analysis, segmentation analysis, characteristics;
Chapter 8 and 9, to show Five forces (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 10 and 11, to show analysis by regional segmentation, comparison, leading countries and opportunities; Customer Behaviour
Thanks for showing interest in Lactic Acid and Poly Lactic Acid (PLA) Industry Research Publication; you can also get individual chapter wise section or region wise report version like North America, LATAM, United States, GCC, Southeast Asia, Europe, APAC, United Kingdom, India or China etc
Nidhi Bhawsar (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +15075562445
sales@htfmarketreport.com
About Author:
HTF Market Intelligence consulting is uniquely positioned empower and inspire with research and consulting services to empower businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist in decision making.
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