Press release
Lactic Acid Market Overall Study Report with Top Key Players BASF, Futerro, Henan Jindan Lactic Acid Technology, Purac and NatureWorks
Lactic Acid & Polylactic Market may exceed USD 6 billion by 2024 and Polylactic Acid Market should surpass USD 4 billion by 2024, according to a new research report. Growing penetration of the product in several end-use industries such as pharmaceuticals, food & beverage, industrial owing to its functional properties along with increasing favorable policies towards the use of bioplastics owing to rising concerns over greenhouse gas emissions shall accelerate the lactic acid and polylactic acid market growth.
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North America lactic acid market is expected to surpass USD 2 billion upto 2025 pertaining to increasing consumer spending on therapeutic & medicinal drugs in the region. Rising expenditure by government on healthcare facilities along with growing research & development initiatives towards the use of biodegradable polymers is likely to stimulate the product demand in the region. Lactic acid market from food & beverage application is expected to record substantial gains at around 14% upto 2025 owing to its ability to act as a flavoring & preservative agent. The product is served in a wide range of food applications such as bakery, salads, confectionary and beverages as it controls pathogenic bacteria which improves food safety, extends shelf life and acts as an acidity regulator in beverages. Increasing consumer preference towards functional food & beverages which ensure optimum health benefits shall augment the product demand.
Polylactic acid market from packaging application is likely to register gains at over 18% during the projected timespan owing to rising consumer inclination towards the use of green packaging alternatives. Growing government regulations towards the use of synthetic plastic packaging is likely to have a positive impact on the product demand from the industry.
Asia Pacific polylactic acid market growth is expected to record gains of about 18% during the forecasted time period owing to the increasing public awareness towards sustainable packaging solutions in the region. Growing government policies towards the use of green packaging has urged manufacturers to reduce the use of synthetic plastics and adopt safe, quality packaging options which is expected to drive the product demand from the industry.
Major industry participants for lactic acid market include BASF, Futerro, Henan Jindan Lactic Acid Technology, Purac and NatureWorks. Several major players are engaged in improving their production capacity and are focusing on research & development activities to fulfil growing consumer demand which should accelerate the market growth.
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Report Content
Chapter 1 Methodology
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definitions & forecast parameters
1.2. Data Sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2 Executive Summary
2.1. Lactic acid & polylactic acid industry 360 degree synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Regional trends
2.1.3 Application trends
Chapter 3 Lactic acid & PLA Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2013-2024
3.3 Industry ecosystem analysis
3.4 PLA Industry impact forces
3.4.1 Growth drivers
3.4.1.1 Increasing bioplastics demand
3.4.1.2 Volatile crude oil price trend
3.4.1.3 Increasing consumer preference towards green technology
3.6.2 Industry pitfalls & challenges
3.6.2.1 Competitive price
3.6.2.2 Performance comparison with respect to conventional plastics
Chapter 4 Lactic Acid & PLA Market, By Application
4.1 Global PLA market volume share by application, 2015 & 2024
4.1.1 Packaging
4.1.1.1 Market estimates and forecast, 2013-2024, (Kilo Tons) (USD Million)
4.1.1.2 Market estimates and forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
4.1.1.3 Rigid Packaging
4.1.1.3.1 Market estimates and forecast, 2013-2024, (Kilo Tons) (USD Million)
4.1.1.3.2 Market estimates and forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
4.1.1.4 Loose fill
4.1.1.4.1 Market estimates and forecast, 2013-2024, (Kilo Tons) (USD Million)
4.1.1.4.2 Market estimates and forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
4.1.1.5 Composite bags
4.1.1.5.1 Market estimates and forecast, 2013-2024, (Kilo Tons) (USD Million)
4.1.1.5.2 Market estimates and forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
4.1.1.6 Others
4.1.1.6.1 Market estimates and forecast, 2013-2024, (Kilo Tons) (USD Million)
4.1.1.6.2 Market estimates and forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
4.1.2 Agriculture
4.1.2.1 Market estimates and forecast, 2013-2024, (Kilo Tons) (USD Million)
4.1.2.2 Market estimates and forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
4.1.3 Transport
4.1.3.1 Market estimates and forecast, 2013-2024, (Kilo Tons) (USD Million)
4.1.3.2 Market estimates and forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
4.1.4 Electronics
4.1.4.1 Market estimates and forecast, 2013-2024, (Kilo Tons) (USD Million)
4.1.4.2 Market estimates and forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
4.1.5 Textiles
4.1.5.1 Market estimates and forecast, 2013-2024, (Kilo Tons) (USD Million)
4.1.5.2 Market estimates and forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
4.1.6 Others
4.1.6.1 Market estimates and forecast, 2013-2024, (Kilo Tons) (USD Million)
4.1.6.2 Market estimates and forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
4.2 Global lactic acid market volume share by application, 2015 & 2024
4.2.1 Industrial
4.2.1.1 Market estimates and forecast, 2013-2024, (Kilo Tons) (USD Million)
4.2.1.2 Market estimates and forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
4.2.2 Food & beverage
4.2.2.1 Market estimates and forecast, 2013-2024, (Kilo Tons) (USD Million)
4.2.2.2 Market estimates and forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
4.2.3 Pharmaceuticals
4.2.3.1 Market estimates and forecast, 2013-2024, (Kilo Tons) (USD Million)
4.2.3.2 Market estimates and forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
4.2.4 Personal care
4.2.4.1 Market estimates and forecast, 2013-2024, (Kilo Tons) (USD Million)
4.2.4.2 Market estimates and forecast, by region, 2013-2024, (Kilo Tons) (USD Million)
4.2.5 Others
4.2.5.1 Market estimates and forecast, 205-2025, (Kilo Tons) (USD Million)
4.2.5.2 Market estimates and forecast, by region, 205-2025, (Kilo Tons) (USD Million)
Chapter 5 Lactic Acid & PLA Market, By Region
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