Lactic Acid Market by Application (Biodegradable Polymers, Food & Beverages, Pharmaceutical Products), Form, and Region, Polylactic Acid Market, by Application (Packaging, Fiber & Fabrics, Agriculture), Form, and Region - Global Forecast to 2025
Market Segmentation
| Report Metrics | Details |
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Market size available for years |
2020 - 2025 |
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CAGR % |
12.8 |
Top 10 companies in Lactic Acid Market
Lactic Acid Market News
[209 Pages Report] According to MarketsandMarkets, the global lactic acid market size is estimated to be valued at USD 1.1 billion in 2020 and is projected to reach USD 2.1 billion by 2025, recording a CAGR of 12.8%, in terms of value. The global polylactic acid market size is estimated to be valued at USD 786 million in 2020 and is projected to reach USD 1,756 million by 2025, recording a CAGR of 17.4%, in terms of value. In recent years, the use of lactic acid in biodegradable polymers is growing significantly, mainly due to the rise in awareness among consumers and increased consumption of biodegradable plastic packaging in the food application segment. With the advancement of new technologies, the usage of lactic acid in the food and beverage sector helps in preventing the degradation of food quality. The Asia Pacific region is growing fastest owing to new technologies, government support, and an increase in the export of food and beverages.
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In recent years, the development of biodegradable bioplastics has gained a lot attention and are perceived to be eco-friendly. Several governments have introduced certain regulations and frameworks to encourage the use of bioplastics in order to replace toxic plastics.
The biggest impact on the reducing the plastic waste was given by the 2017 Chinese waste import ban. It pushed several countries to find alternate solutions for the plastic wastage by implementation of the recycling processes and developing biodegradable plastics.
At European level, the new EU Commission’s Green Deal launched in 2020 will target on waste exports to Asian countries. Also, a regulatory framework for biodegradable bioplastics industry is set to be implemented which would Circular Economy Action Plan. In 2019, the EU imposed a ban on the production of oxo-degradable plastics thought to produce persistent microplastics in the environment. Such regulations exist globally to reduce the uncontrolled release of toxic plastic substances. In turn, these frameworks offer high growth opportunities for the lactic and polylactic acids market.
According to MarketsandMarkets, the global polylactic acid market size is estimated to be valued at USD 786.4 million in 2020 and projected to reach USD 1,756.2 million by 2025, recording a CAGR of 17.4%. The inclination of consumers toward busier lifestyles has led to a surge in packaged products and a rapid increase in purchases through online channels. Polylactic acid is obtained from renewable sources. Hence, it is biodegradable in nature. The characteristics of PLA are better than conventionally produced plastics in terms of tensile strength and flexibility. The increase in awareness among consumers about the need for recyclability, sustainability, and green packaging solutions has led manufacturers to adopt eco-friendly packaging. This is considered to be one of the important factors impacting the growth of the polylactic acid market globally.
Impact of COVID -19 On the Lactic Acid and Polylactic Acid Market
COVID-19 has had a significant impact on the growth and dynamics of various industries. With no access to vaccines, consumers are becoming concerned about the immunity, social distancing, and contactless activities for safeguarding themselves from exposure to the current pandemic. This, to a large extent, has influenced the choice of products among consumers for packaged products that are sought to provide protective benefits. Due to the restrictions on public movement across regions, the bulk purchase of food products and their stockpiling have become inevitable.
The pandemic has led to a positive impact on the growth of the packaging industry. However, it has resulted in high demand for plastic packaging. Food manufacturers who had initially opted for other types of the packaging had initiated the use of plastic packaging, as it is economical, safe, and enduring. Food & beverage packaging has witnessed a high demand during the pandemic, as consumers have been more inclined toward packaged food products due to factors such as maintaining safety and hygiene. Due to the increase in sustainability in the food industry for maintaining product quality, the use of biopolymer packaging materials has been an attractive and eco-friendly alternative to synthetic polymers attributed to the availability, low cost, and renewable raw materials, and agro-industrial waste usage.
Market Dynamics
Drivers: High demand for lactic acid and polylactic acid end-user applications
The market for lactic acid & polylactic acid has witnessed emerging trends in recent years, and this is evident from the innovations and developments taking place in various end-user applications, such as biopolymer, food & beverages, packaging, personal care & cosmetics, and pharmaceuticals. The biodegradable polymers industry has registered a significant demand, particularly in the North American and European regions, due to the rise in awareness among consumers about the polymers produced using polylactic acid. Food packaging manufacturers are already focusing on substituting with polylactic acid (PLA) for general-purpose packaging applications, such as trays and yogurt cups. These have been the common alternatives for takeaway food packaging.
According to a study published by the European Bioplastics (an association representing the interests of the thriving bioplastics industry in Europe) in collaboration with the nova-Institute (Germany), the global bioplastics production capacity is estimated to increase from nearly 2.11 million tons in 2018 to approximately 2.62 million tons in 2023. However, the study also stated that bioplastics represent nearly 1% of the 335 million tons of plastic produced annually. Packaging remains the largest field of application for bioplastics, accounting for nearly 65% (1.2 million tons) of the total bioplastics market in 2018. Innovative biopolymers, such as PLA (polylactic acid) and PHAs (poly-hydroxyalkanoates), are projected to be the key factors driving the growth of the bio-based and biodegradable plastics industry. The rise in demand for advanced biopolymers, end-user applications, and innovative products is a key factor that is projected to drive the market growth during the forecast period.
Restraints: Fluctuation in raw material prices restraints market growth
Lactic acid & polylactic acid offer a 75% reduction in carbon footprint as compared to the most traditional fossil-based plastics. They are obtained from renewable feedstocks, such as sugarcane, corn, sugar beet, and cassava. The biodegradation process for polylactic acid is relatively fast in industrial composting processes and takes longer for completion in less biologically-active environments. Besides composting, polylactic acid bioplastics also offer additional end-of-life options, such as mechanical and chemical recycling. Major players, such as Corbion (Netherlands), are using European sugar beet and Thai sugarcane as raw material feedstock for the production of lactic acid, which is used to produce bioplastics. However, raw material prices for the production of lactic acid have been volatile for the past several years. A significant rise in costs for commodities (raw materials used for lactic acid production, such as sugarcane, corn, sugar beet, and cassava) has posed as a major restraint for the market growth. The lactic acid and polylactic acid markets are projected to be influenced by the fluctuating prices of commodities during the forecast period.
The production costs are witnessing a significant increase due to the higher costs of raw materials, transportation, energy consumed, and chemicals, which leads to a reduction in margins for manufacturers. Thus, resulting in high end-user application prices. For instance, most manufacturing companies are increasing their prices worldwide for product categories that include lactic acid and lactates due to a rise in the costs of raw materials. Moreover, one of the significant restraints influencing the market growth for lactic and polylactic acid is the regulation pertaining to the number of bacteria generating the acid by optimizing and controlling metabolic activity.
Opportunities: Multi-functionalities of lactic acid and polylactic acid
Lactic and polylactic acids play an important role as a catalyst in the processing of several industrial products. These acids have typically been used as bulk industrial applications, such as food & beverages, biopolymers, textiles, packaging, and personal care & cosmetics. The market for lactic acid has witnessed significant growth as it is increasingly used as a substitute for toxic chemicals and plastics, particularly in food & beverages and pharmaceuticals. The application of polylactic acid also witnesses a rise in demand for biopolymers and as ingredients in personal care & cosmetic products.
In the food & beverage industry, lactic acid is preferred over synthetic chemicals, as they alter the flavor, texture, or characteristics of products to increase their shelf life. In the dairy industry, lactic acids are used to coagulate milk and produce cheese flavors. Whereas in the brewing industry, lactic acid improves starch conversion in beer, thereby increasing the yield. In the baking industry, lactic acid help in controlling the acidity of the dough and improving the shelf life of baked goods. Major uses of lactic acid in the food industry are found in cheese manufacturing, baking, confectionery manufacturing, processed meat, and vegetable processing.
Biodegradable and industrially compostable in nature, polylactic acid is among the first renewable polymers that were able to compete with the existing polymers, combining their functional characteristics, such as transparency, gloss, and stiffness. Polylactic acid is currently used in a wide range of industries, such as food packaging, single-use tableware, textiles, oil & gas, electronics, automotive, and 3D printing. Due to the various and versatile uses of lactic acid across industries, as well as the multi-functionalities of lactic and polylactic acids, the market is projected to witness significant growth opportunities during the forecast period.
Challenges: Lack of process-specific technology for the usage of lactic acid in developing countries
According to a study published by the National Center for Biotechnology Information (NCBI) in 2019, the production of biodegradable polymers as an alternative to petroleum-based plastics has gained significant traction in the previous years. Polylactic acid is considered a preferred alternative as a significant component in various applications, ranging from food packaging to pharmaceuticals. The study also states that D-lactic acid plays a significant role in the production of heat-resistant polylactic acid. Moreover, the utilization of renewable resources has been imperative for the decrease in production cost.
The lactic acid and polylactic acid market is highly consolidated in emerging markets in Asia, Africa, and South America. The usage of lactic and polylactic acids in small & medium enterprises has been a challenge due to the lack of resources or the technology and facilities required for the extraction and fermentation of high-quality lactic acid and polylactic acid. Moreover, the selection of the right composition of lactic acid is a key aspect that many companies have not figured out accurately. This selection plays a crucial role in sustaining the flavor and texture of food & beverage applications. The selection of the right composition of lactic acid is a complex method that requires validation at a laboratory and factory-scale level. The lack of awareness among experts on the polylactic acid extraction from lactic acid could lead to high production losses. Hence, these factors are projected to pose major challenges that inhibit the growth of the lactic acid and polylactic acid markets. Adequate training provided to professionals on product functions and characteristics could help manufacturers attain the desired quality in their end-products with minimal production losses. Thus, the lack of proper technology and knowledge also poses a challenge for the use of lactic and polylactic acids in developing regions.
‘By application, biodegradable polymers segment is projected to account for the fastest growing in the lactic acid market during the forecast period’
The usage of biodegradable polymers can lower the cost of labor used for the removal of conventional plastics, as plastics have been detrimental to the environment. Moreover, decomposition and degradation of biodegradable polymers stabilize the environment and increases the longevity of landfills by decreasing the amount of garbage. They can also be reprocessed into useful oligomers by microbial, enzymatic, and hydrolytic treatment for other applications.
‘By application, agriculture is projected to account for the fastest growing segment in the polylactic acid market during the forecast period’
The use of polylactic acid in agricultural applications includes the integration of a timed-release fertilizer in polylactic acid sheets or molded forms and biodegradable plant clips. In recent years, the agriculture segment accounted for a low market share for polylactic acid-based products, but applications such as polylactic acid-based mulch films are projected to witness an increase in the agriculture sector. Mulch films are extensively used in the cultivation of fruits & vegetables. The mechanical properties of PLA are comparable to the existing mulch film products and have the advantage of being completely biodegradable through a single growing season.
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‘North America is accounted the largest share in the market for the lactic acid’
The North America accounted for the largest share in the global lactic acid market in terms of value. The North American lactic acid market is entirely driven by the growth of the US market. The North American market is regulated, with the US Environmental Protection Agency (EPA) playing a key role in the monitoring and commercialization of chemical products. In recent times, the rise in environmental concerns and waste management issues have led to a shift in the focus of consumers toward sustainable and environment-friendly plastics, particularly for packaging. Due to these factors, regulatory authorities, such as EPA, are increasingly opting for biodegradable plastics and focusing on increasing consumer awareness regarding the need for the use of biodegradable products.
Key Market Players:
Corbion (Netherlands), DuPont (US), Cargill (US), Galactic (Belgium), DOW (US), Unitika (Japan), Henan Jindan Lacic Acid Technology (China), Sulzer (Switzerland), Mushashino Chemical (Japan), Vigon International (US), Henan Xinghan Biology Technology (China), Danimer Scientific (US), COFCO BioChemical (China), Jungbunzlauer (Switzerland), FoodChem International (China), Vaishnavi Biotech (India), Spectrum Chemicals (US), Godavari Bio-refineries (India), ProAgro GmbH (Austria), and Qingdao Abel Technology (US) are the leading lactic acid and polylactic acid market vendors.
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Report Metric |
Details |
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Market size estimation |
2018–2025 |
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Base year considered |
2019 |
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Forecast period considered |
2020–2025 |
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Units considered |
Value (USD) |
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Segments covered |
Lactic acid-application, PLA-application, lactic acid-form, and region |
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Regions covered |
North America, Europe, Asia Pacific, and RoW |
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Companies studied |
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Target Audience:
- Lactic acid and polylactic acid offering companies and government organizations
- End-product manufacturing company officials
- Government and research organizations
- Research officers
- CEOs and vice presidents
- Marketing directors
- Product innovation directors and related key executives from manufacturing companies and organizations operating in the market
- Manufacturing and marketing companies
Report Scope:
This research report categorizes the lactic acid and polylactic acid market based on application, form, and region.
Lactic acid: By Form
- Liquid
- Form
Lactic acid: By Application
- Biodegradable polymers
- Food & Beverages
- Beverages
- Bakery & confectionery products
- Dairy products
- Meat products
- Other food products*
- Personal care products
- Pharmaceutical products
- Other lactic acid applications**
*Other food applications include sauces, savouries, snacks, and jams.
**Other lactic acid applications include lactate solvents, descaling agents, neutralizers, cleaning agents, metal complexing agents, chiral intermediates, and humectants
Polylactic acid: By Application
- Packaging
- Fiber & fabrics
- Electronics & electrical
- Agriculture
- Automobile
- Other PLA applications*
*Other PLA applications include 3D printings, coating & adhesives, and building & construction.
Lactic acid: By Region:
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
- South America
- Middle East
- Africa
Recent Developments
- In November 2020, Sulzer had merged with B&F PLA (China) for the expansion and development of its first fully-integrated sugar-to-PLA (polylactic acid) plant located in Bengbu, China. The facility utilizes Sulzer’s distillation, crystallization, and polymerization technologies to produce 30,000 tons of PLA per year. This would improve the presence of the company in the Asia Pacific market.
- In July 2020, Corbion (Netherlands) has appointed IMCD (Netherlands) for the distribution of bio-based food and non-food ingredients to manufacturers of confectionery, beverages, baked goods, sauces, dressings, condiments, and prepared foods in Australia and New Zealand. This expansion would improve the presence of Corbion in the Asia Pacific region.
- In January 2020, Corbion (Netherlands) had invested nearly USD 190 million in a new lactic acid plant with 125,000 metric tons of production capacity in Thailand, which would operate at the highest sustainability standards and lowest costs involved.
- In September 2020, Cargill’s NatureWorks announced a series of manufacturing technology projects, including lactide monomer purification efficiency. This would increase the availability of the full Ingeo (PLA) biomaterials portfolio by 10% and help in catering to the large industrial.
- In October 2020, Galactic’s Futerro had started operating its first integrated polylactic acid (PLA) production unit in China in collaboration with its historical partner BBCA Biochemical (China), with a production capacity of 30,000 tons/year. This expansion would improve the company’s presence in the Asian market.
- In November 2019, Dow expands its production capacity by setting up a plant in Louisiana, US. The capacity of the new unit would be 100 KT per year, allowing the company to increase its participation in a number of key product lines, including the TERGITOL. This would help the company in catering to the industrial demands in the US. .
- In June 2019, Cargill’s NatureWorks has developed a new product with Ingeo PLA formulation for 3D printing break-away support on dual extrusion printers. This would support the technological advancements in the biopolymer industry.
Frequently Asked Questions (FAQ):
How big is the lactic acid market and polylactic acid market?
The lactic acid market size was estimated to be valued at US$ 1.1 billion in 2020 and is projected to reach US$ 2.1 billion by 2025. On the other hand the global polylactic acid market size was valued at USD 786 million in 2020 and is projected to reach USD 1,756 million by 2025.
What is the Lactic Acid Market growth?
The global lactic acid market is expected to grow at a compound annual growth rate (CAGR) of 12.8% from 2020 to 2023 to reach USD 42.6 billion by 2023. The polylactic acid market is projected to grow at a CAGR of 17.4% during the forecast period.
I am interested in the European lactic acid and polylactic acid market. What information does the current report cover?
An existing study on Lactic acid and polylactic acid cover both qualitative and quantitative insights at regional and country level. Qualitative insights include regional and country market trends and insights on regulatory framework; quantitative insights include the size of the European lactic acid and polylactic acid market by countries mentioned below, market size by form, in terms of value and volume, and by application.
Quantitative insights at the country level include the market size by application. The countries covered in the report are as mentioned below:
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Rest of Europe (Poland, Belgium, and other EU and non-EU countries)
Can you explain the research methodology on how you arrived at the market?
Yes, a detailed explanation of research methodology can be provided over a scheduled call. It will also enable us to explain all your queries in detail. For a brief overview and knowledge: Multiple approaches have been adopted to understand the holistic view of this market, including:
- Demand-side approach
- Supply-side approach from the regional level
- Primary interviews with industry experts
- Revenue mapping of key players and analyzing their market share
- Data triangulation
What kind of information is provided in the company profiles section?
For the existing study, 20 company profiles are provided with insights, including business overview covering information on the company’s business segments, financials, geographic presence & revenue mix, and business revenue mix of total company revenue. The company profiles section also provides information on product offerings, key developments associated with the company, and MnM view to elaborate analyst views on the company. Some of the key players in the market include Corbion (Netherlands), DuPont (US), Cargill (US), Galactic (Belgium), DOW (US), Unitika (Japan), Henan Jindan Lacic Acid Technology (China), Sulzer (Switzerland), Mushashino Chemical (Japan), Vigon International (US), Henan Xinghan Biology Technology (China), Danimer Scientific (US), COFCO BioChemical (China), Jungbunzlauer (Switzerland), FoodChem International (China), Vaishnavi Biotech (India), Spectrum Chemicals (US), Godavari Bio-refineries (India), ProAgro GmbH (Austria), and Qingdao Abel Technology (US).
What are some of the drivers fuelling the growth of the lactic acid and polylactic acid market?
Global lactic acid and polylactic acid market is characterized by the following drivers
High demand for lactic acid and polylactic acid in end-user applications
The market for lactic acid & polylactic acid has witnessed emerging trends in recent years, and this is evident from the innovations and developments taking place in various end-user applications, such as biopolymer, food & beverages, packaging, personal care & cosmetics, and pharmaceuticals. The biodegradable polymers industry has registered a significant demand, particularly in the North American and European regions, due to the rise in awareness among consumers about the polymers produced using polylactic acid. Food packaging manufacturers are already focusing on substituting with polylactic acid (PLA) for general-purpose packaging applications, such as trays and yogurt cups. These have been the common alternatives for takeaway food packaging.
Rise in demand for alternate environment-friendly resources
The depletion of non-renewable resources has led to an increase in the need for and importance of manufacturing bio-based resources, which has a negligible impact on the environment. In countries with surplus agricultural capacity, bio-based and biodegradable products produced from biomass can be used as a substitute, extender, or octane booster as an alternative for traditional motor fuels, plastics, and other products detrimental to the environment. In recent times, consumers have been more aware of their health & wellness and environmental sustainability and have been selective in their daily consumptions.
What types of Lactic acid and polylactic acids are covered in the market estimations? What is the depth of this, and is this information covered at the country level?
The reports provide global and regional market size (current & forecast until 2025) along with qualitative insights on below form for lactic acid:
- Liquid
- Dry
Cross segment market size by various market segments can also be provided based on custom requirements.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 22)
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
FIGURE 1 MARKET SEGMENTATION
1.4 REGIONS COVERED
1.5 PERIODIZATION CONSIDERED
1.6 CURRENCY CONSIDERED
TABLE 1 USD EXCHANGE RATES CONSIDERED, 2017–2019
1.7 VOLUME UNIT CONSIDERED
1.8 STAKEHOLDERS
1.9 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 28)
2.1 RESEARCH DATA
FIGURE 2 LACTIC ACID & POLYLACTIC ACID MARKET: RESEARCH DESIGN
FIGURE 3 KEY DATA FROM PRIMARY SOURCES
2.2 MARKET SIZE ESTIMATION
2.2.1 APPROACH TO ESTIMATE THE LACTIC ACID MARKET, 2019
2.2.2 APPROACH TO ESTIMATE THE POLYLACTIC ACID MARKET (SUPPLY-SIDE), 2019
2.2.3 APPROACH TO ESTIMATE THE POLYLACTIC ACID MARKET (DEMAND-SIDE), 2019
2.3 DATA TRIANGULATION
FIGURE 4 DATA TRIANGULATION METHODOLOGY
2.4 ASSUMPTIONS FOR THE STUDY
2.5 LIMITATIONS OF THE STUDY
2.6 SCENARIO-BASED MODELING
2.7 INTRODUCTION TO COVID-19
2.8 COVID-19 HEALTH ASSESSMENT
FIGURE 5 COVID-19: THE GLOBAL PROPAGATION
FIGURE 6 COVID-19 PROPAGATION: SELECT COUNTRIES
2.9 COVID-19 ECONOMIC ASSESSMENT
FIGURE 7 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020
2.9.1 COVID-19 ECONOMIC IMPACT—SCENARIO ASSESSMENT
FIGURE 8 CRITERIA IMPACTING THE GLOBAL ECONOMY
FIGURE 9 SCENARIOS IN TERMS OF RECOVERY OF THE GLOBAL ECONOMY
3 EXECUTIVE SUMMARY (Page No. - 40)
TABLE 2 LACTIC ACID MARKET SHARE SNAPSHOT, 2020 VS. 2025 (USD BILLION)
TABLE 3 POLYLACTIC ACID MARKET SHARE SNAPSHOT, 2020 VS. 2025 (USD BILLION)
FIGURE 10 IMPACT OF COVID-19 ON THE LACTIC ACID MARKET SIZE, BY SCENARIO, 2020-2021 (USD MILLION)
FIGURE 11 IMPACT OF COVID-19 ON THE POLYLACTIC ACID MARKET SIZE, BY SCENARIO, 2020-2021 (USD MILLION)
FIGURE 12 MARKET SIZE, BY APPLICATION, 2020 VS. 2025 (USD MILLION)
FIGURE 13 MARKET SIZE, BY FOOD & BEVERAGES SUBAPPLICATION, 2020 VS. 2025 (USD MILLION)
FIGURE 14 POLYLACTIC MARKET SIZE, BY APPLICATION, 2020 VS. 2025 (USD MILLION)
FIGURE 15 MARKET, BY FORM, 2020 VS. 2025 (USD MILLION)
FIGURE 16 MARKET SHARE (VALUE), BY REGION, 2019
FIGURE 17 POLYLACTIC ACID MARKET SHARE (VALUE), BY REGION, 2019
4 PREMIUM INSIGHTS (Page No. - 48)
4.1 ATTRACTIVE OPPORTUNITIES IN THE LACTIC ACID MARKET
FIGURE 18 INCREASE IN DEMAND FOR PROCESSED AND PACKAGED FOOD & BEVERAGES IS PROJECTED TO DRIVE THE MARKET GROWTH
4.2 ATTRACTIVE OPPORTUNITIES IN THE POLYLACTIC ACID MARKET
FIGURE 19 BIODEGRADABLE PROPERTIES OF PLA IS PROJECTED TO DRIVE THE MARKET GROWTH
4.3 LACTIC ACID MARKET: MAJOR REGIONAL SUBMARKETS
FIGURE 20 NORTH AMERICA WAS THE LARGEST MARKET GLOBALLY FOR LACTIC ACID IN 2019
4.4 POLYLACTIC ACID MARKET: MAJOR REGIONAL SUBMARKETS
FIGURE 21 EUROPE WAS THE LARGEST MARKET FOR POLYLACTIC ACID GLOBALLY IN 2019
4.5 NORTH AMERICA: MARKET, BY KEY APPLICATION AND COUNTRY
FIGURE 22 US ACCOUNTED FOR THE LARGEST SHARE IN THE NORTH AMERICA MARKET IN 2019
4.6 EUROPE: POLYLACTIC ACID MARKET, BY KEY APPLICATION AND COUNTRY
FIGURE 23 GERMANY ACCOUNTED FOR THE LARGEST SHARE IN THE EUROPE MARKET IN 2019
4.7 LACTIC ACID MARKET, BY APPLICATION
FIGURE 24 THE BIODEGRADABLE POLYMERS SEGMENT IS PROJECTED TO DOMINATE THE LACTIC ACID MARKET DURING THE FORECAST PERIOD
FIGURE 25 MARKET, BY FOOD & BEVERAGES
4.8 POLYLACTIC ACID MARKET, BY APPLICATION
FIGURE 26 THE PACKAGING SEGMENT IS PROJECTED TO DOMINATE THE POLYLACTIC ACID MARKET DURING THE FORECAST PERIOD
FIGURE 27 COVID-19 IMPACT ON THE LACTIC ACID MARKET: COMPARISON OF PRE- AND POST-COVID-19 SCENARIOS
FIGURE 28 COVID-19 IMPACT ON THE POLYLACTIC ACID MARKET: COMPARISON OF PRE- AND POST-COVID-19 SCENARIOS
5 MARKET OVERVIEW (Page No. - 56)
5.1 INTRODUCTION
FIGURE 29 BIOPLASTICS: GLOBAL PRODUCTION CAPACITY, 2018–2023 (MILLION TON)
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 High demand for lactic acid and polylactic acid in end-user applications
FIGURE 31 POLYLACTIC ACID: GLOBAL PRODUCTION CAPACITY, BY END-USER APPLICATION, 2018
5.2.1.2 Rise in demand for alternative environment-friendly resources
5.2.1.3 Technological advancements to encourage the production of lactic acid & polylactic acid
FIGURE 32 GLOBAL EXPENDITURE ON R&D, 2015–2018 (USD MILLION)
5.2.2 RESTRAINTS
5.2.2.1 Fluctuations in raw material prices to restrain the market growth
5.2.2.2 Concerns over the quality of lactic acid used in food & beverage products
5.2.3 OPPORTUNITIES
5.2.3.1 Multi-functionalities of lactic and polylactic acids
5.2.3.2 Government regulations and frameworks to encourage the use of bioplastics
5.2.4 CHALLENGES
5.2.4.1 Lack of process-specific technology for the usage of lactic and polylactic acids in developing regions
5.2.4.2 High initial investment costs involved for small & medium enterprises
5.3 COVID-19 DRIVERS
5.4 REGULATORY FRAMEWORK
TABLE 4 GLOBAL AVERAGE PRICE OF LACTIC AND POLYLACTIC ACIDS (USD/TON)
5.5 VALUE CHAIN
FIGURE 33 LACTIC ACID & POLYLACTIC ACID MARKET: VALUE CHAIN
5.6 ECOSYSTEM/MARKET MAP
FIGURE 34 MARKET ECOSYSTEM
FIGURE 35 MARKET MAP
5.7 KEY MARKET FOR IMPORT/EXPORT
5.7.1 LACTIC ACID, ITS SALTS & ESTERS
TABLE 5 TOP 10 EXPORTERS AND IMPORTERS OF LACTIC ACID, ITS SALTS & ESTERS, 2018 (KT)
5.8 PORTER’S FIVE FORCES ANALYSIS
5.8.1 LACTIC ACID & POLYLACTIC ACID MARKET: PORTER’S FIVE FORCE ANALYSIS
5.9 YC-YCC SHIFT
FIGURE 36 YC-YCC SHIFT FOR THE LACTIC ACID AND POLYLACTIC ACID MARKET
6 LACTIC ACID MARKET, BY APPLICATION (Page No. - 69)
6.1 INTRODUCTION
FIGURE 37 MARKET SHARE (VALUE), BY APPLICATION, 2020 VS. 2025
TABLE 6 MARKET SIZE, BY APPLICATION, 2017–2019 (USD MILLION)
TABLE 7 MARKET SIZE, BY APPLICATION, 2020–2025 (USD MILLION)
6.1.1 COVID-19 IMPACT ON THE LACTIC ACID MARKET, BY APPLICATION
6.1.1.1 Optimistic Scenario
TABLE 8 OPTIMISTIC SCENARIO: LACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2021 (USD MILLION)
6.1.1.2 Realistic Scenario
TABLE 9 REALISTIC SCENARIO: LACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2021 (USD MILLION)
6.1.1.3 Pessimistic Scenario
TABLE 10 PESSIMISTIC SCENARIO: LACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2021 (USD MILLION)
6.2 BIODEGRADABLE POLYMERS
TABLE 11 LACTIC ACID MARKET SIZE IN BIODEGRADABLE POLYMERS, BY REGION, 2017–2019 (USD MILLION)
TABLE 12 MARKET SIZE IN BIODEGRADABLE POLYMERS, BY REGION, 2020–2025 (USD MILLION)
6.3 FOOD & BEVERAGES
TABLE 13 MARKET SIZE IN FOOD & BEVERAGES, BY REGION, 2017–2019 (USD MILLION)
TABLE 14 MARKET SIZE IN FOOD & BEVERAGES, BY REGION, 2020–2025 (USD MILLION)
TABLE 15 MARKET SIZE IN FOOD & BEVERAGES, BY APPLICATION, 2017–2019 (USD MILLION)
TABLE 16 MARKET SIZE IN FOOD & BEVERAGES, BY APPLICATION, 2020–2025 (USD MILLION)
6.3.1 BEVERAGES
6.3.1.1 Use of lactic acid in beverages helps in obtaining superior shelf life
TABLE 17 MARKET SIZE IN BEVERAGES, BY REGION, 2017–2019 (USD MILLION)
TABLE 18 MARKET SIZE IN BEVERAGES, BY REGION, 2020–2025 (USD MILLION)
6.3.2 BAKERY & CONFECTIONERY PRODUCTS
6.3.2.1 Usage of lactic acid to increase the shelf-life of bakery and confectionery products
TABLE 19 MARKET SIZE IN BAKERY & CONFECTIONERY PRODUCTS, BY REGION, 2017–2019 (USD MILLION)
TABLE 20 MARKET SIZE IN BAKERY & CONFECTIONERY PRODUCTS, BY REGION, 2020–2025 (USD MILLION)
6.3.3 DAIRY PRODUCTS
6.3.3.1 Mineral salts of lactic acid are an ideal component for the fortification of dairy products
TABLE 21 LACTIC ACID MARKET SIZE IN DAIRY PRODUCTS, BY REGION, 2017–2019 (USD MILLION)
TABLE 22 MARKET SIZE IN DAIRY PRODUCTS, BY REGION, 2020–2025 (USD MILLION)
6.3.4 MEAT PRODUCTS
6.3.4.1 Lactic acid act as an acidulate to preserve the taste and tenderness of meat products
TABLE 23 MARKET SIZE IN MEAT PRODUCTS, BY REGION, 2017–2019 (USD MILLION)
TABLE 24 MARKET SIZE IN MEAT PRODUCTS, BY REGION, 2020–2025 (USD MILLION)
6.3.5 OTHER FOOD PRODUCTS
6.3.5.1 Usage of lactic acid replaces acetic acid and vinegar as food additives
TABLE 25 MARKET SIZE IN OTHER FOOD PRODUCTS, BY REGION, 2017–2019 (USD MILLION)
TABLE 26 MARKET SIZE IN OTHER FOOD PRODUCTS, BY REGION, 2020–2025 (USD MILLION)
6.4 PERSONAL CARE PRODUCTS
6.4.1 CONSUMER PREFERENCE FOR CLEAN LABEL PERSONAL CARE PRODUCTS DRIVES THE DEMAND FOR LACTIC ACID
TABLE 27 MARKET SIZE IN PERSONAL CARE PRODUCTS, BY REGION, 2017–2019 (USD MILLION)
TABLE 28 MARKET SIZE IN PERSONAL CARE PRODUCTS, BY REGION, 2020–2025 (USD MILLION)
6.5 PHARMACEUTICAL PRODUCTS
6.5.1 LACTIC ACID IS USED AS ELECTROLYTE IN VARIOUS PARENTAL & INTRAVENOUS SOLUTIONS
TABLE 29 MARKET SIZE IN PHARMACEUTICAL PRODUCTS, BY REGION, 2017–2019 (USD MILLION)
TABLE 30 MARKET SIZE IN PHARMACEUTICAL PRODUCTS, BY REGION, 2020–2025 (USD MILLION)
6.6 OTHER APPLICATIONS
6.6.1 LACTIC ACIDS ARE USED IN VARIOUS APPLICATIONS DUE TO THEIR NON-TOXIC BIODEGRADABLE NATURE
TABLE 31 MARKET SIZE IN OTHER APPLICATIONS, BY REGION, 2017–2019 (USD MILLION)
TABLE 32 MARKET SIZE IN OTHER APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
7 LACTIC ACID MARKET, BY FORM (Page No. - 84)
7.1 INTRODUCTION
FIGURE 38 LACTIC ACID MARKET SIZE, BY FORM, 2020 VS. 2025 (USD MILLION)
TABLE 33 LACTIC ACID MARKET SIZE, BY FORM, 2017–2019 (USD MILLION)
TABLE 34 LACTIC ACID MARKET SIZE, BY FORM, 2020–2025 (USD MILLION)
7.1.1 COVID-19 IMPACT ON THE LACTIC ACID MARKET, BY FORM
7.1.1.1 Optimistic Scenario
TABLE 35 OPTIMISTIC SCENARIO: LACTIC ACID MARKET SIZE, BY FORM, 2018–2021 (USD MILLION)
7.1.1.2 Realistic Scenario
TABLE 36 REALISTIC SCENARIO: LACTIC ACID MARKET SIZE, BY FORM, 2018–2021 (USD MILLION)
7.1.1.3 Pessimistic Scenario
TABLE 37 PESSIMISTIC SCENARIO: LACTIC ACID MARKET SIZE, BY FORM, 2018–2021 (USD MILLION)
7.2 LIQUID
7.2.1 EASE OF USE IN VARIOUS APPLICATIONS TO ENCOURAGE THE USAGE OF LIQUID FORM
TABLE 38 LIQUID LACTIC ACID MARKET SIZE, BY REGION, 2017–2019 (USD MILLION)
TABLE 39 LIQUID LACTIC ACID MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
7.3 DRY
7.3.1 DRY FORM ENABLES IMPROVED ACCURACY OF DOSAGES
TABLE 40 DRY LACTIC ACID MARKET SIZE, BY REGION, 2017–2019 (USD MILLION)
TABLE 41 DRY LACTIC ACID MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
8 POLYLACTIC ACID MARKET, BY APPLICATION (Page No. - 90)
8.1 INTRODUCTION
FIGURE 39 POLYLACTIC ACID MARKET SIZE (VALUE), BY APPLICATION, 2020 VS. 2025
TABLE 42 POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2017–2019 (USD MILLION)
TABLE 43 POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2020–2025 (USD MILLION)
8.1.1 COVID-19 IMPACT ON THE POLYLACTIC ACID MARKET, BY APPLICATION
8.1.1.1 Optimistic Scenario
TABLE 44 OPTIMISTIC SCENARIO: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2021 (USD MILLION)
8.1.1.2 Realistic Scenario
TABLE 45 REALISTIC SCENARIO: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2021 (USD MILLION)
8.1.1.3 Pessimistic Scenario
TABLE 46 PESSIMISTIC SCENARIO: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2021 (USD MILLION)
8.2 PACKAGING
TABLE 47 POLYLACTIC ACID MARKET SIZE IN PACKAGING, BY REGION, 2017–2019 (USD MILLION)
TABLE 48 POLYLACTIC ACID MARKET SIZE IN PACKAGING, BY REGION, 2020–2025 (USD MILLION)
8.2.1 RIGID PACKAGING
8.2.1.1 Rigid packaging helps to cater to the packaging needs of various food & beverage manufacturers
8.2.2 COMPOST BAGS
8.2.2.1 Use of composite bags can mitigate organic waste
8.2.3 LOOSE-FILL PACKAGING
8.2.3.1 Loose-fill packaging helps in reducing freight costs
8.3 FIBER & FABRICS
TABLE 49 POLYLACTIC ACID: MARKET SIZE IN FIBER & FABRICS, BY REGION, 2017–2019 (USD MILLION)
TABLE 50 POLYLACTIC ACID: MARKET SIZE IN FIBER & FABRICS, BY REGION, 2020–2025 (USD MILLION)
8.4 AUTOMOBILES
8.4.1 INCREASE IN PREFERENCE FOR A TENSILE ALTERNATIVE TO PLASTIC ENCOURAGES THE DEMAND FOR POLYLACTIC ACID
TABLE 51 POLYLACTIC ACID MARKET SIZE IN AUTOMOBILES, BY REGION, 2017–2019 (USD MILLION)
TABLE 52 POLYLACTIC ACID MARKET SIZE IN AUTOMOBILES, BY REGION, 2020–2025 (USD MILLION)
8.5 ELECTRONICS & ELECTRICALS
8.5.1 USAGE OF POLYLACTIC ACID IN THE ELECTRONIC INDUSTRY REMAINS LOW
TABLE 53 POLYLACTIC ACID MARKET SIZE IN ELECTRONICS & ELECTRICALS, BY REGION, 2017–2019 (USD MILLION)
TABLE 54 POLYLACTIC ACID: MARKET SIZE IN ELECTRONICS & ELECTRICALS, BY REGION, 2020–2025 (USD MILLION)
8.6 AGRICULTURE
8.6.1 POLYLACTIC ACID COULD REPLACE MULCH FILMS IN THE AGRICULTURE INDUSTRY
TABLE 55 POLYLACTIC ACID: MARKET SIZE IN AGRICULTURE, BY REGION, 2017–2019 (USD MILLION)
TABLE 56 POLYLACTIC ACID: MARKET SIZE IN AGRICULTURE, BY REGION, 2020–2025 (USD MILLION)
8.7 OTHER APPLICATIONS
8.7.1 POLYLACTIC ACIDS ARE USED IN VARIOUS APPLICATIONS DUE TO THEIR BIOCOMPATIBLE NATURE
TABLE 57 POLYLACTIC ACID: MARKET SIZE IN OTHER APPLICATIONS, BY REGION, 2017–2019 (USD MILLION)
TABLE 58 POLYLACTIC ACID: MARKET SIZE IN OTHER APPLICATIONS, BY REGION, 2020–2025 (USD MILLION)
9 LACTIC ACID MARKET, BY REGION (Page No. - 102)
9.1 INTRODUCTION
TABLE 59 AVERAGE PRICE OF LACTIC ACID, BY REGION, 2018 & 2019 (USD/TON)
FIGURE 40 REGIONAL SNAPSHOT: NEW HOTSPOTS TO EMERGE IN ASIA PACIFIC, 2020–2025
TABLE 60 LACTIC ACID MARKET SIZE, BY REGION, 2017–2019 (USD MILLION)
TABLE 61 MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
TABLE 62 MARKET SIZE, BY REGION, 2018–2025 (KT)
9.1.1 COVID-19 IMPACT ON THE LACTIC ACID MARKET, BY REGION
9.1.1.1 Optimistic Scenario
TABLE 63 OPTIMISTIC SCENARIO: LACTIC ACID MARKET SIZE, BY REGION, 2018–2021 (USD MILLION)
9.1.1.2 Realistic Scenario
TABLE 64 REALISTIC SCENARIO: LACTIC ACID MARKET SIZE, BY REGION, 2018–2021 (USD MILLION)
9.1.1.3 Pessimistic Scenario
TABLE 65 PESSIMISTIC SCENARIO: LACTIC ACID MARKET SIZE, BY REGION, 2018–2021 (USD MILLION)
9.2 NORTH AMERICA
FIGURE 41 NORTH AMERICA: LACTIC ACID MARKET SNAPSHOT
TABLE 66 NORTH AMERICA: MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 67 NORTH AMERICA: MARKET SIZE, BY COUNTRY, 2018–2025 (KT)
TABLE 68 NORTH AMERICA: MARKET SIZE, BY APPLICATION, 2017–2019 (USD MILLION)
TABLE 69 NORTH AMERICA: MARKET SIZE, BY APPLICATION, 2020–2025 (USD MILLION)
TABLE 70 NORTH AMERICA: MARKET SIZE IN FOOD & BEVERAGES, BY SUBAPPLICATION, 2017–2019 (USD MILLION)
TABLE 71 NORTH AMERICA: MARKET SIZE IN FOOD & BEVERAGES, BY SUBAPPLICATION, 2020–2025 (USD MILLION)
TABLE 72 NORTH AMERICA: MARKET SIZE BY FORM, 2018–2025 (USD MILLION)
TABLE 73 NORTH AMERICA: MARKET SIZE, BY FORM, 2017–2019 (USD MILLION)
TABLE 74 NORTH AMERICA: MARKET SIZE, BY FORM, 2020–2025 (USD MILLION)
9.2.1 US
9.2.1.1 Increase in investments, expansions, and launch new products to encourage the growth of the bioplastics & biopolymers segment
TABLE 75 US: LACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
9.2.2 CANADA
9.2.2.1 High scope for the replacement of plastics with bioplastics & biopolymers in the country
TABLE 76 CANADA: LACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
9.2.3 MEXICO
9.2.3.1 Increase in demand for biodegradable plastics in various food packaging applications
TABLE 77 MEXICO: LACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
9.3 EUROPE
TABLE 78 EUROPE: LACTIC ACID MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 79 EUROPE: MARKET SIZE, BY COUNTRY, 2018–2025 (KT)
TABLE 80 EUROPE: MARKET SIZE, BY APPLICATION, 2017–2019 (USD MILLION)
TABLE 81 EUROPE: MARKET SIZE, BY APPLICATION, 2020–2025 (USD MILLION)
TABLE 82 EUROPE: MARKET SIZE IN FOOD & BEVERAGES, BY SUBAPPLICATION, 2017–2019 (USD MILLION)
TABLE 83 EUROPE: MARKET SIZE IN FOOD & BEVERAGES, BY SUBAPPLICATION, 2020–2025 (USD MILLION)
TABLE 84 EUROPE: MARKET SIZE, BY FORM, 2017–2019 (USD MILLION)
TABLE 85 EUROPE: MARKET SIZE, BY FORM, 2020–2025 (USD MILLION)
9.3.1 GERMANY
9.3.1.1 Implementation of packaging laws to encourage the recycling of packaging waste in the country
TABLE 86 GERMANY: LACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
9.3.2 ITALY
9.3.2.1 Ban on conventional plastic carrier bags to enhance the demand for bioplastic materials in the country
TABLE 87 ITALY: MARKET SIZE, BY RAW MATERIAL, 2018–2025 (USD MILLION)
9.3.3 SPAIN
9.3.3.1 Increase in awareness regarding the use of biodegradable polymers in the country
TABLE 88 SPAIN: MARKET SIZE, BY RAW MATERIAL, 2018–2025 (USD MILLION)
9.3.4 FRANCE
9.3.4.1 Demand for lactic acid as a functional additive in various food & beverage applications
TABLE 89 FRANCE: MARKET SIZE, BY RAW MATERIAL, 2018–2025 (USD MILLION)
9.3.5 UK
9.3.5.1 Demand for bioplastic & biopolymer products in the UK is projected to grow during the forecasted period
TABLE 90 UK: MARKET SIZE, BY RAW MATERIAL, 2018–2025 (USD MILLION)
9.3.6 REST OF EUROPE
9.3.6.1 Poland, the Netherlands, and Belgium are the major consumer of lactic acid
TABLE 91 REST OF EUROPE: LACTIC ACID MARKET SIZE, BY RAW MATERIAL, 2018–2025 (USD MILLION)
9.4 ASIA PACIFIC
FIGURE 42 ASIA PACIFIC: LACTIC ACID MARKET SNAPSHOT
TABLE 92 ASIA PACIFIC: MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 93 ASIA PACIFIC: MARKET SIZE, BY COUNTRY, 2018–2025 (KT)
TABLE 94 ASIA PACIFIC: MARKET SIZE, BY APPLICATION, 2017–2019 (USD MILLION)
TABLE 95 ASIA PACIFIC: MARKET SIZE, BY APPLICATION, 2020–2025 (USD MILLION)
TABLE 96 ASIA PACIFIC: MARKET SIZE IN FOOD & BEVERAGES,BY SUBAPPLICATION, 2017–2019 (USD MILLION)
TABLE 97 ASIA PACIFIC: MARKET SIZE IN FOOD & BEVERAGES, BY SUBAPPLICATION, 2020–2025 (USD MILLION)
TABLE 98 ASIA PACIFIC: MARKET SIZE, BY FORM, 2017–2019 (USD MILLION)
TABLE 99 ASIA PACIFIC: MARKET SIZE, BY FORM, 2020–2025 (USD MILLION)
9.4.1 CHINA
9.4.1.1 High demand for lactic acid among key players operating in the country to drive the growth of the biodegradable polymers segment
TABLE 100 CHINA: MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
9.4.2 JAPAN
9.4.2.1 Advancements in the pharmaceutical industry to drive the market growth for lactic acid in Japan
TABLE 101 JAPAN: MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
9.4.3 INDIA
9.4.3.1 Advancements in technology for lactic acid usage in food & beverage applications to drive the market growth
TABLE 102 INDIA: MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
9.4.4 AUSTRALIA & NEW ZEALAND
9.4.4.1 Increase in demand for natural and safe ingredients in personal care products to drive the demand for lactic acid
TABLE 103 AUSTRALIA & NZ: LACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
9.4.5 REST OF ASIA PACIFIC
9.4.5.1 Food & beverage manufacturers are opting for lactic acid as an alternative to traditional chemicals
TABLE 104 REST OF ASIA PACIFIC: LACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
9.5 ROW
TABLE 105 ROW: LACTIC ACID MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 106 ROW: MARKET SIZE, BY COUNTRY, 2018–2025 (KT)
TABLE 107 ROW: MARKET SIZE, BY APPLICATION, 2017–2019 (USD MILLION)
TABLE 108 ROW: MARKET SIZE, BY APPLICATION, 2020–2025 (USD MILLION)
TABLE 109 ROW: MARKET SIZE IN FOOD & BEVERAGES, BY SUBAPPLICATION, 2017–2019 (USD MILLION)
TABLE 110 ROW: MARKET SIZE IN FOOD & BEVERAGES, BY SUBAPPLICATION, 2020–2025 (USD MILLION)
TABLE 111 ROW: MARKET SIZE, BY FORM, 2017–2019 (USD MILLION)
TABLE 112 ROW: MARKET SIZE, BY FORM, 2020–2025 (USD MILLION)
9.5.1 SOUTH AMERICA
9.5.1.1 Biodegradable polymers to witness significant demand as key companies are setting up manufacturing units for producing bioplastic
TABLE 113 SOUTH AMERICA: LACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
9.5.2 MIDDLE EAST
9.5.2.1 Expansions in the food processing industry to drive the market growth
TABLE 114 MIDDLE EAST: LACTIC ACID MARKET SIZE, BY RAW MATERIAL, 2018–2025 (USD MILLION)
9.5.3 AFRICA
9.5.3.1 Increase in the usage of biodegradable plastics due to environmental concerns
TABLE 115 AFRICA: LACTIC ACID MARKET SIZE, BY RAW MATERIAL, 2018–2025 (USD MILLION)
10 POLYLACTIC ACID MARKET, BY REGION (Page No. - 134)
10.1 INTRODUCTION
TABLE 116 AVERAGE PRICE OF POLYLACTIC ACID, BY REGION, 2018 & 2019 (USD/TON)
FIGURE 43 REGIONAL SNAPSHOT: ASIA PACIFIC TO RECORD SIGNIFICANT GROWTH RATE IN THE POLYLACTIC ACID MARKET
TABLE 117 POLYLACTIC ACID MARKET SIZE, BY REGION, 2017–2019 (USD MILLION)
TABLE 118 POLYLACTIC ACID MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
TABLE 119 POLYLACTIC ACID MARKET SIZE, BY REGION, 2018–2025 (KT)
10.1.1 COVID-19 IMPACT ON THE POLYLACTIC ACID MARKET, BY REGION
10.1.1.1 Optimistic Scenario
TABLE 120 OPTIMISTIC SCENARIO: POLYLACTIC ACID MARKET SIZE, BY REGION, 2018–2021 (USD MILLION)
10.1.1.2 Realistic Scenario
TABLE 121 REALISTIC SCENARIO: POLYLACTIC ACID MARKET SIZE, BY REGION, 2018–2021 (USD MILLION)
10.1.1.3 Pessimistic Scenario
TABLE 122 PESSIMISTIC SCENARIO: POLYLACTIC ACID MARKET SIZE, BY REGION, 2018–2021 (USD MILLION)
10.2 NORTH AMERICA
TABLE 123 NORTH AMERICA: POLYLACTIC ACID MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 124 NORTH AMERICA: POLYLACTIC ACID MARKET SIZE, BY COUNTRY, 2018–2025 (KT)
TABLE 125 NORTH AMERICA: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2017–2019 (USD MILLION)
TABLE 126 NORTH AMERICA: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2020–2025 (USD MILLION)
10.2.1 US
10.2.1.1 Rise in awareness for reducing plastic wastage to drive the market growth for PLA in the US
TABLE 127 US: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
10.2.2 CANADA
10.2.2.1 Government initiatives to reduce plastic usage to drive the market growth for PLA
TABLE 128 CANADA: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
10.2.3 MEXICO
10.2.3.1 Increase in demand for biodegradable bags among Mexican consumers to drive the market growth for PLA
TABLE 129 MEXICO: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
10.3 EUROPE
FIGURE 44 EUROPE: MARKET SNAPSHOT
TABLE 130 EUROPE: POLYLACTIC ACID MARKET SIZE, BY COUNTRY/REGION, 2018–2025 (USD MILLION)
TABLE 131 EUROPE: POLYLACTIC ACID MARKET SIZE, BY COUNTRY/REGION, 2018–2025 (KT)
TABLE 132 EUROPE: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2017–2019 (USD MILLION)
TABLE 133 EUROPE: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2020–2025 (USD MILLION)
10.3.1 GERMANY
10.3.1.1 Increase in demand for biopolymer automobile components drives the market growth in Germany
TABLE 134 GERMANY: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
10.3.2 ITALY
10.3.2.1 Increase in awareness among the Italian customers is projected to drive the market growth for PLA
TABLE 135 ITALY: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
10.3.3 SPAIN
10.3.3.1 High consumer preference for processed food products to drive the demand for polylactic acid in the food packaging industry
TABLE 136 SPAIN: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
10.3.4 UK
10.3.4.1 Increase in growth opportunities for manufacturers in the automobile sector to drive the growth of the PLA market in the UK
TABLE 137 UK: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
10.3.5 FRANCE
10.3.5.1 Expansion of key players in France to drive the PLA market growth
TABLE 138 FRANCE: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
10.3.6 REST OF EUROPE
10.3.6.1 Industrial developments in Russia to drive the demand for PLA in the packaging and agriculture sectors
TABLE 139 REST OF EUROPE: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
10.4 ASIA PACIFIC
FIGURE 45 ASIA PACIFIC: POLYLACTIC ACID MARKET SNAPSHOT
TABLE 140 ASIA PACIFIC: POLYLACTIC ACID MARKET SIZE, BY COUNTRY/REGION, 2018–2025 (USD MILLION)
TABLE 141 ASIA PACIFIC: POLYLACTIC ACID MARKET SIZE, BY COUNTRY/REGION, 2018–2025 (KT)
TABLE 142 ASIA PACIFIC: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2017–2019 (USD MILLION)
TABLE 143 ASIA PACIFIC: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2020–2025 (USD MILLION)
10.4.1 CHINA
10.4.1.1 Presence of key players in the country encourages the demand for PLA in various applications
TABLE 144 CHINA: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
10.4.2 JAPAN
10.4.2.1 Advancements in the automobile industry to drive the market growth for PLA in Japan
TABLE 145 JAPAN: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
10.4.3 INDIA
10.4.3.1 Rise in demand for processed food products in India encourages the demand for PLA in eco-friendly food packaging applications
TABLE 146 INDIA: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
10.4.4 AUSTRALIA & NEW ZEALAND
10.4.4.1 Decrease in raw material prices to encourage the usage of PLA in the region
TABLE 147 AUSTRALIA & NZ: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
10.4.5 REST OF ASIA PACIFIC
10.4.5.1 Manufacturers are opting for PLA as an alternative to traditional plastics
TABLE 148 REST OF ASIA PACIFIC: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
10.5 REST OF THE WORLD (ROW)
TABLE 149 ROW: POLYLACTIC ACID MARKET SIZE, BY COUNTRY/REGION, 2018–2025 (USD MILLION)
TABLE 150 ROW: POLYLACTIC ACID MARKET SIZE, BY COUNTRY/REGION, 2018–2025 (KT)
TABLE 151 ROW: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2017–2019 (USD MILLION)
TABLE 152 ROW: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2020–2025 (USD MILLION)
10.5.1 SOUTH AMERICA
10.5.1.1 Increase in the export demand for biopolymer products to drive the growth of the polylactic acid market in the region
TABLE 153 SOUTH AMERICA: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
10.5.2 MIDDLE EAST
10.5.2.1 Key manufacturers prefer opting for biodegradable materials for usage in industrial applications
TABLE 154 MIDDLE EAST: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
10.5.3 AFRICA
10.5.3.1 Sluggish economic growth and low technological developments discourage the demand for polylactic acid in the region
TABLE 155 AFRICA: POLYLACTIC ACID MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
11 COMPETITIVE LANDSCAPE (Page No. - 161)
11.1 OVERVIEW
11.2 MARKET SHARE ANALYSIS, 2019
FIGURE 46 MARKET SHARE ANALYSIS OF MAJOR PLAYERS IN THE LACTIC ACID MARKET, 2019
FIGURE 47 MARKET SHARE ANALYSIS OF MAJOR PLAYERS IN POLYLACTIC ACID MARKET, 2019
11.3 COMPANY EVALUATION MATRIX: DEFINITIONS & METHODOLOGY
11.3.1 STARS
11.3.2 EMERGING LEADERS
11.3.3 PERVASIVE PLAYERS
11.3.4 EMERGING COMPANIES
11.4 COMPANY EVALUATION MATRIX, 2019 (OVERALL MARKET)
FIGURE 48 GLOBAL LACTIC ACID & POLYLACTIC ACID MARKET COMPANY EVALUATION MATRIX, 2019 (OVERALL MARKET)
11.5 COMPETITIVE LEADERSHIP MAPPING (OTHER PLAYERS)
11.5.1 PROGRESSIVE COMPANIES
11.5.2 STARTING BLOCKS
11.5.3 RESPONSIVE COMPANIES
11.5.4 DYNAMIC COMPANIES
FIGURE 49 LACTIC ACID & POLYLACTIC ACID MARKET COMPETITIVE LEADERSHIP MAPPING FOR OTHER PLAYERS, 2019
TABLE 156 LACTIC ACID: DEGREE OF COMPETITION
TABLE 157 POLYLACTIC ACID: DEGREE OF COMPETITION
TABLE 158 MARKET: COMPANY APPLICATION FOOTPRINT
TABLE 159 MARKET: COMPANY REGION FOOTPRINT
TABLE 160 POLYLACTIC ACID MARKET: COMPANY APPLICATION FOOTPRINT
TABLE 161 POLYLACTIC ACID MARKET: COMPANY REGION FOOTPRINT
11.6 COMPETITIVE SCENARIO
11.6.1 EXPANSIONS & INVESTMENTS
TABLE 162 EXPANSION & INVESTMENT, 2018–2020
11.6.2 NEW PRODUCT LAUNCHES
TABLE 163 NEW PRODUCT LAUNCHES, 2018-2020
12 COMPANY PROFILES (Page No. - 171)
(Business overview, Products offered, Recent Developments, SWOT analysis, MNM view)*
12.1 CORBION
FIGURE 50 CORBION: COMPANY SNAPSHOT
12.2 DUPONT
FIGURE 51 DUPONT: COMPANY SNAPSHOT
12.3 CARGILL
FIGURE 52 CARGILL: COMPANY SNAPSHOT
12.4 GALACTIC
12.5 DOW
FIGURE 53 DOW: COMPANY SNAPSHOT
12.6 UNITIKA LTD
FIGURE 54 UNITIKA: COMPANY SNAPSHOT
12.7 HENAN JINDAN LACTIC ACID TECHNOLOGY
12.8 SULZER
FIGURE 55 SULZER: COMPANY SNAPSHOT
12.9 MUSASHINO CHEMICAL
12.10 VIGON INTERNATIONAL
12.11 HENAN XINGHAN BIOTECHNOLOGY
12.12 DANIMER SCIENTIFIC
12.13 COFCO BIOCHEMICAL
12.14 JUNGBUNZLAUER
12.15 FOODCHEM INTERNATIONAL
12.16 VAISHNAVI BIO-TECH
12.17 SPECTRUM CHEMICALS
12.18 GODAVARI BIO-REFINERIES
12.19 PROAGRO GMBH
12.20 QINGDAO ABEL TECHNOLOGY
*Details on Business overview, Products offered, Recent Developments, SWOT analysis, MNM view might not be captured in case of unlisted companies.
13 APPENDIX (Page No. - 201)
13.1 DISCUSSION GUIDE
13.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.3 AVAILABLE CUSTOMIZATIONS
13.4 RELATED REPORTS
13.5 AUTHOR DETAILS
The study involved four major activities in estimating the lactic acid and polylactic acid market size. Exhaustive secondary research was conducted to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the demand-side and supply-side approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet, were referred to, to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold & silver standard websites, regulatory bodies, trade directories, and databases.
Primary Research
The market comprises several stakeholders, such as suppliers, processors, service providers, and regulatory organizations in the supply chain. The demand side of the market is characterized by the presence of lactic acid and polylactic acid providing companies and government organizations, end-products providing company officials, government and research organizations, and research officers. The supply side is characterized by the presence of key CEOs and vice presidents, marketing directors, product innovation directors and related key executives from manufacturing companies and organizations operating in the market, and manufacturing and marketing companies. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
Breakdown of Primary participants
To know about the assumptions considered for the study, download the pdf brochure
*RoW includes South America, Africa, and the Middle East.
Note: Tier 1: Revenue > USD 500 million; Tier 2: USD 100 million < Revenue < USD 500 million; Tier 3: Revenue < USD 100 million.
Market Size Estimation
Both the demand-side and supply-side approaches were used to estimate and validate the total size of the lactic acid and polylactic acid market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size include the following:
- The key players were identified through extensive primary and secondary research.
- The value chain and market size of the lactic acid and polylactic acid market, in terms of value, were determined through primary and secondary research.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
- All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research included the study of reports, reviews, newsletters of top market players, along with extensive interviews for opinions from key leaders, such as CEOs, directors, and marketing executives.
Data Triangulation
After arriving at the overall market size from the estimation process described above, the total market was split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides. In addition, the market size was validated using both top-down and bottom-up approaches. It was then verified through primary interviews. Hence, three approaches were adopted—demand-side approach, supply-side approach, and the one involving expert interviews. Only when the values arrived at from the three points match, the data is assumed to be correct.
Report Objectives
- To describe and forecast the lactic acid market, in terms of form, application, and region
- To describe and forecast the polylactic acid market, in terms of application and region
- To describe and forecast the lactic acid and polylactic acid market, in terms of value, by region–North America, Europe, Asia Pacific, and the Rest of the World—along with their respective countries
- To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
- To strategically analyze micro-markets with respect to individual growth trends, prospects, and contributions to the overall market
- To study the complete value chain of the lactic acid and polylactic acid market
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the lactic acid and polylactic acid market
- To strategically profile the key players and comprehensively analyze their market positions, in terms of ranking and core competencies, along with details on the competitive landscape of market leaders
- To analyze strategic approaches, such as acquisitions & divestments, expansions, service launches & approvals, and agreements, in the lactic acid and polylactic acid market
Available Customizations:
Based on the given market data, MarketsandMarkets offers customizations in the reports according to client-specific requirements. The available customization options are as follows:
GEOGRAPHIC ANALYSIS
- Further breakdown of the Rest of Europe market into Belgium, Denmark, and other EU and non- EU countries
- Further breakdown of the Rest of Asia Pacific market into Singapore, Thailand, Vietnam, and South Korea
Growth opportunities and latent adjacency in Lactic Acid Market