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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

  • ID: 5230091
  • Report
  • December 2020
  • Region: Global
  • 192 Pages
  • Markets and Markets
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The Lactic Acid Market is Estimated to be Valued at USD 1.1 Billion in 2020 and Projected to Reach USD 2.1 Billion by 2025 at a CAGR of 12.8%

FEATURED COMPANIES

  • Cargill
  • Danimer Scientific
  • Foodchem International
  • Jungbunzlauer
  • Qingdao Abel Technology
  • Unitika Ltd
  • MORE

Factors such as the consumer inclination toward food & beverages with higher shelf-life, due to the rising awareness to mitigate the food wastage has been fueling the use of lactic acid in food & beverage industry. Government regulations has also boosted the use of lactic acid and polylactic acid for usage in biodegradable polymers and packaging, globally. However, the growth of the lactic acid and polylactic acid market is inhibited by factors, such as high infrastructure costs involved during the initial investments. In addition, the lack of required skilled resources inhibits the growth of the lactic acid and polylactic acid market.

By lactic acid application, the biodegradable polymers segment is estimated to be the largest segment during the forecast period.

Biodegradable polymers segment represents a largest portion of the lactic acid market. They have the potential to be used as an alternative to toxic plastics that are derived from petrochemicals and eventually replaces them. The growth of the market for industrial applications of lactic acid is primarily driven by its use in biodegradable polymers. Biodegradable polymers have a major advantage over non-biodegradable polymers in terms of degradation, as biodegradable polymers can be decomposed by microorganisms. 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.

By polylactic acid application, the packaging segment is estimated to be the largest segment during the forecast period.

Packaging segment represents a largest portion of the lactic acid market. The modern business ecosystem is more inclined to reduce environmental carbon footprint besides controlling their costs. This has been achieved by the use of advanced polylactic acid (PLA) packaging technology. PLA has numerous competitive advantages in the packaging industry over petrochemical-based polymers, as they are biodegradable and obtained from 100% natural sources. This helps in reducing greenhouse gas emissions, lowering carbon footprint, and easy manipulation of structure-property-processing relations during production.

By form, liquid segment in the lactic acid market estimated to account for the largest share during the forecast period.

The liquid segment in the form is estimated to dominate the market for lactic acid. The liquid form of lactic acid is generally less stable than solids, although it may witness improved functionalities than the dry (powder) form. It is directly used in the liquid form or sprayed and absorbed on a solid carrier. Biodegradable polymers manufactured using liquid lactic acid have major advantages, such as increased flexibility, and are moldable as per the required dimensions. In food & beverages, lactic acid acts as a curing or gelling agent, flavor, food carrier, solvent, and preservative as it is easy to mix in the liquid form.

The Asia Pacific region for the lactic acid market is projected to grow at the highest CAGR during the forecast period

The lactic acid market in the Asia Pacific region is largely driven by industrial shift and technological advancements that have made lactic acid available for a wide range of applications such as biodegradable polymers and food & beverages. Developed markets such as North America and Western Europe are becoming mature, which has led to faster growth in developing markets such as Asia Pacific. Rise in consumer awareness toward the mitigation of food wastage in the region has also aided the demand for lactic acid in the food & beverages industry. The changing lifestyles of consumers have inclined them toward convenience food products with higher shelf-life. Owing to the changing consumer preferences, their shift toward convenience food stores, supermarkets, and quick-service restaurants are increasing in countries such as India, China, Australia & New Zealand, and Japan.

The Asia Pacific region for polylactic acid market is projected to grow at the highest CAGR during the forecast period

The polylactic acid market in the Asia Pacific region is largely driven by the increase in preference among consumers for packaged food products is a major factor that is projected to create a significant change in the food packaging industry, leading to a preference for environment-friendly packaging, which creates a growth opportunity for polylactic acid in the region. With the increase in production of PLA-based food packaging, the demand for polylactic acid is projected to remain high. China, India, and Australia & New Zealand are some of the leading markets in the Asia Pacific region.

The lactic acid and polylactic acid market is segmented region-wise, with a detailed analysis of each region. These regions include Asia Pacific, North America, Europe, and RoW (South America, Middle East, and Africa).

Break-up of Primaries

  • By Company type: Tier 1 - 35%, Tier 2 - 25%, and Tier 3 - 40%
  • By Designation: C Level- 40%, D Level- 35%, and Others - 25%
  • By Region: Asia Pacific - 45%, North America - 15%, Europe- 30%, and South America and Middle East & Africa - 10%

Leading players profiled in this report include the following:

  • 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)
  • Qingdao Abel Technology (US)

Research Coverage

This report segments the lactic acid and polylactic acid market on the basis of application, form, and region. In terms of insights, this research report focuses on various levels of analyses-competitive landscape, pricing insights, end-use analysis, and company profiles-which together comprise and discuss the basic views on the emerging & high-growth segments of the lactic acid and polylactic acid market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.

Reasons to buy this report

  • To get a comprehensive overview of the lactic acid and polylactic acid market
  • To gain wide-ranging information about the top players in this industry, their product portfolio details, and the key strategies adopted by them
  • To gain insights about the major countries/regions, in which the lactic acid and polylactic acid market is flourishing
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Cargill
  • Danimer Scientific
  • Foodchem International
  • Jungbunzlauer
  • Qingdao Abel Technology
  • Unitika Ltd
  • MORE

1 Introduction
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
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
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 Lactic Acid Market Size, by Application, 2020 Vs. 2025 (USD Million)
Figure 13 Lactic Acid 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 Lactic Acid Market, by Form, 2020 Vs. 2025 (USD Million)
Figure 16 Lactic Acid Market Share (Value), by Region, 2019
Figure 17 Polylactic Acid Market Share (Value), by Region, 2019

4 Premium Insights
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: Lactic Acid 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 Lactic Acid 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
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
6.1 Introduction
Figure 37 Lactic Acid Market Share (Value), by Application, 2020 Vs. 2025
Table 6 Lactic Acid Market Size, by Application, 2018-2025 (USD Million)
6.1.1 COVID-19 Impact on the Lactic Acid Market, by Application
6.1.1.1 Optimistic Scenario
Table 7 Optimistic Scenario: Lactic Acid Market Size, by Application, 2018-2021 (USD Million)
6.1.1.2 Realistic Scenario
Table 8 Realistic Scenario: Lactic Acid Market Size, by Application, 2018-2021 (USD Million)
6.1.1.3 Pessimistic Scenario
Table 9 Pessimistic Scenario: Lactic Acid Market Size, by Application, 2018-2021 (USD Million)
6.2 Biodegradable Polymers
Table 10 Lactic Acid Market Size in Biodegradable Polymers, by Region, 2018-2025 (USD Million)
6.3 Food & Beverages
Table 11 Lactic Acid Market Size in Food & Beverages, by Region, 2018-2025 (USD Million)
Table 12 Lactic Acid Market Size in Food & Beverages, by Application, 2018-2025 (USD Million) 79
6.3.1 Beverages
6.3.1.1 Use of Lactic Acid in Beverages Helps in Obtaining Superior Shelf Life
Table 13 Lactic Acid Market Size in Beverages, by Region, 2018-2025 (USD Million) 80
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 14 Lactic Acid Market Size in Bakery & Confectionery Products, by Region, 2018-2025 (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 15 Lactic Acid Market Size in Dairy Products, by Region, 2018-2025 (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 16 Lactic Acid Market Size in Meat Products, by Region, 2018-2025 (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 17 Lactic Acid Market Size in Other Food Products, by Region, 2018-2025 (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 18 Lactic Acid Market Size in Personal Care Products, by Region, 2018-2025 (USD Million)
6.5 Pharmaceutical Products
6.5.1 Lactic Acid is Used as Electrolyte in Various Parental & Intravenous Solutions
Table 19 Lactic Acid Market Size in Pharmaceutical Products, by Region, 2018-2025 (USD Million)
6.6 Other Applications
6.6.1 Lactic Acids Are Used in Various Applications Due to Their Non-Toxic Biodegradable Nature
Table 20 Lactic Acid Market Size in Other Applications, by Region, 2018-2025 (USD Million)

7 Lactic Acid Market, by Form
7.1 Introduction
Figure 38 Lactic Acid Market Size, by Form, 2020 Vs. 2025 (USD Million)
Table 21 Lactic Acid Market Size, by Form, 2018-2025 (USD Million)
7.1.1 COVID-19 Impact on the Lactic Acid Market, by Form
7.1.1.1 Optimistic Scenario
Table 22 Optimistic Scenario: Lactic Acid Market Size, by Form, 2018-2021 (USD Million)
7.1.1.2 Realistic Scenario
Table 23 Realistic Scenario: Lactic Acid Market Size, by Form, 2018-2021 (USD Million)
7.1.1.3 Pessimistic Scenario
Table 24 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 25 Liquid Lactic Acid Market Size, by Region, 2018-2025 (USD Million)
7.3 Dry
7.3.1 Dry Form Enables Improved Accuracy of Dosages
Table 26 Dry Lactic Acid Market Size, by Region, 2018-2025 (USD Million)

8 Polylactic Acid Market, by Application
8.1 Introduction
Figure 39 Polylactic Acid Market Size (Value), by Application, 2020 Vs. 2025
Table 27 Polylactic Acid Market Size, by Application, 2018-2025 (USD Million)
8.1.1 COVID-19 Impact on the Polylactic Acid Market, by Application
8.1.1.1 Optimistic Scenario
Table 28 Optimistic Scenario: Polylactic Acid Market Size, by Application, 2018-2021 (USD Million)
8.1.1.2 Realistic Scenario
Table 29 Realistic Scenario: Polylactic Acid Market Size, by Application, 2018-2021 (USD Million)
8.1.1.3 Pessimistic Scenario
Table 30 Pessimistic Scenario: Polylactic Acid Market Size, by Application, 2018-2021 (USD Million)
8.2 Packaging
Table 31 Polylactic Acid Market Size in Packaging, by Region, 2018-2025 (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 32 Polylactic Acid Market Size in Fiber & Fabrics, by Region, 2018-2025 (USD Million)
8.4 Automobiles
8.4.1 Increase in Preference for a Tensile Alternative to Plastic Encourages the Demand for Polylactic Acid
Table 33 Polylactic Acid Market Size in Automobiles, by Region, 2018-2025 (USD Million)
8.5 Electronics & Electricals
8.5.1 Usage of Polylactic Acid in the Electronic Industry Remains Low
Table 34 Polylactic Acid Market Size in Electronics & Electricals, by Region, 2018-2025 (USD Million)
8.6 Agriculture
8.6.1 Polylactic Acid Could Replace Mulch Films in the Agriculture Industry
Table 35 Polylactic Acid Market Size in Agriculture, by Region, 2018-2025 (USD Million)
8.7 Other Applications
8.7.1 Polylactic Acids Are Used in Various Applications Due to Their Biocompatible Nature
Table 36 Polylactic Acid Market Size in Other Applications, by Region, 2018-2025 (USD Million)

9 Lactic Acid Market, by Region
9.1 Introduction
Table 37 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 38 Lactic Acid Market Size, by Region, 2018-2025 (USD Million)
Table 39 Lactic Acid 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 40 Optimistic Scenario: Lactic Acid Market Size, by Region, 2018-2021 (USD Million)
9.1.1.2 Realistic Scenario
Table 41 Realistic Scenario: Lactic Acid Market Size, by Region, 2018-2021 (USD Million)
9.1.1.3 Pessimistic Scenario
Table 42 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 43 North America: Lactic Acid Market Size, by Country, 2018-2025 (USD Million)
Table 44 North America: Lactic Acid Market Size, by Country, 2018-2025 (Kt)
Table 45 North America: Lactic Acid Market Size, by Application, 2018-2025 (USD Million)
Table 46 North America: Lactic Acid Market Size in Food & Beverages, by Subapplication, 2018-2025 (USD Million)
Table 47 North America: Lactic Acid Market Size by Form, 2018-2025 (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 48 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 49 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 50 Mexico: Lactic Acid Market Size, by Application, 2018-2025 (USD Million)
9.3 Europe
Table 51 Europe: Lactic Acid Market Size, by Country, 2018-2025 (USD Million)
Table 52 Europe: Lactic Acid Market Size, by Country, 2018-2025 (Kt)
Table 53 Europe: Lactic Acid Market Size, by Application, 2018-2025 (USD Million)
Table 54 Europe: Lactic Acid Market Size in Food & Beverages, by Subapplication, 2018-2025 (USD Million)
Table 55 Europe: Lactic Acid Market Size, by Form, 2018-2025 (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 56 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 57 Italy: Lactic Acid 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 58 Spain: Lactic Acid 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 59 France: Lactic Acid 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 60 UK: Lactic Acid 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 61 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 62 Asia-Pacific: Lactic Acid Market Size, by Country, 2018-2025 (USD Million)
Table 63 Asia-Pacific: Lactic Acid Market Size, by Country, 2018-2025 (Kt)
Table 64 Asia-Pacific: Lactic Acid Market Size, by Application, 2018-2025 (USD Million)
Table 65 Asia-Pacific: Lactic Acid Market Size in Food & Beverages, Subapplication, 2018-2025 (USD Million)
Table 66 Asia-Pacific: Lactic Acid Market Size, by Form, 2018-2025 (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 67 China: Lactic Acid 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 68 Japan: Lactic Acid 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 69 India: Lactic Acid 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 70 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 71 Rest of Asia-Pacific: Lactic Acid Market Size, by Application, 2018-2025 (USD Million)
9.5 RoW
Table 72 Row: Lactic Acid Market Size, by Country, 2018-2025 (USD Million)
Table 73 Row: Lactic Acid Market Size, by Country, 2018-2025 (Kt)
Table 74 Row: Lactic Acid Market Size, by Application, 2018-2025 (USD Million)
Table 75 Row: Lactic Acid Market Size, by Food & Beverage Subapplication, 2018-2025 (USD Million)
Table 76 Row: Lactic Acid Market Size, by Form, 2018-2025 (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 77 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 78 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 79 Africa: Lactic Acid Market Size, by Raw Material, 2018-2025 (USD Million)

10 Polylactic Acid Market, by Region
10.1 Introduction
Table 80 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 81 Polylactic Acid Market Size, by Region, 2018-2025 (USD Million)
Table 82 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 83 Optimistic Scenario: Polylactic Acid Market Size, by Region, 2018-2021 (USD Million)
10.1.1.2 Realistic Scenario
Table 84 Realistic Scenario: Polylactic Acid Market Size, by Region, 2018-2021 (USD Million)
10.1.1.3 Pessimistic Scenario
Table 85 Pessimistic Scenario: Polylactic Acid Market Size, by Region, 2018-2021 (USD Million)
10.2 North America
Table 86 North America: Polylactic Acid Market Size, by Country, 2018-2025 (USD Million)
Table 87 North America: Polylactic Acid Market Size, by Country, 2018-2025 (Kt)
Table 88 North America: Polylactic Acid Market Size, by Application, 2018-2025 (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 89 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 90 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 91 Mexico: Polylactic Acid Market Size, by Application, 2018-2025 (USD Million)
10.3 Europe
Figure 44 Europe: Market Snapshot
Table 92 Europe: Polylactic Acid Market Size, by Country/Region, 2018-2025 (USD Million)
Table 93 Europe: Polylactic Acid Market Size, by Country/Region, 2018-2025 (Kt)
Table 94 Europe: Polylactic Acid Market Size, by Application, 2018-2025 (USD Million)
10.3.1 Germany
10.3.1.1 Increase in Demand for Biopolymer Automobile Components Drives the Market Growth in Germany
Table 95 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 96 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 97 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 98 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 99 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 100 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 101 Asia-Pacific: Polylactic Acid Market Size, by Country/Region, 2018-2025 (USD Million)
Table 102 Asia-Pacific: Polylactic Acid Market Size, by Country/Region, 2018-2025 (Kt)
Table 103 Asia-Pacific: Polylactic Acid Market Size, by Application, 2018-2025 (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 104 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 105 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 106 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 107 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 108 Rest of Asia-Pacific: Polylactic Acid Market Size, by Application, 2018-2025 (USD Million)
10.5 Rest of the World (Row)
Table 109 Row: Polylactic Acid Market Size, by Country/Region, 2018-2025 (USD Million)
Table 110 Row: Polylactic Acid Market Size, by Country/Region, 2018-2025 (Kt)
Table 111 Row: Polylactic Acid Market Size, by Application, 2018-2025 (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 112 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 113 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 114 Africa: Polylactic Acid Market Size, by Application, 2018-2025 (USD Million)

11 Competitive Landscape
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 115 Lactic Acid: Degree of Competition
Table 116 Polylactic Acid: Degree of Competition
Table 117 Lactic Acid Market: Company Application Footprint
Table 118 Lactic Acid Market: Company Region Footprint
Table 119 Polylactic Acid Market: Company Application Footprint
Table 120 Polylactic Acid Market: Company Region Footprint
11.6 Competitive Scenario
11.6.1 Expansions & Investments
Table 121 Expansion & Investment, 2018-2020
11.6.2 New Product Launches
Table 122 New Product Launches, 2018-2020

12 Company Profiles
Business Overview, Products Offered, Recent Developments, SWOT Analysis, Analyst's 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, Analyst's View Might Not be Captured in Case of Unlisted Companies.

13 Appendix
13.1 Discussion Guide
13.2 Knowledge Store: Subscription Portal
13.3 Available Customizations
13.4 Related Reports
13.5 Author Details

Note: Product cover images may vary from those shown
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  • Cargill
  • Cofco Biochemical
  • Corbion
  • Danimer Scientific
  • Dow
  • Dupont
  • Foodchem International
  • Galactic
  • Godavari Bio-Refineries
  • Henan Jindan Lactic Acid Technology
  • Henan Xinghan Biotechnology
  • Jungbunzlauer
  • Musashino Chemical
  • Proagro Gmbh
  • Qingdao Abel Technology
  • Spectrum Chemicals
  • Sulzer
  • Unitika Ltd
  • Vaishnavi Bio-Tech
  • Vigon International
Note: Product cover images may vary from those shown
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