Lactic Acid and Poly Lactic Acid (PLA) Market size was valued at USD 4.23 Billion in 2024 and is projected to reach USD 9.15 Billion by 2033, exhibiting a CAGR of 9.5% from 2026 to 2033.
In 2022, the global lactic acid market was valued at approximately USD 3.36 billion, with projections indicating growth to USD 3.37 billion in 2023 and further to USD 5.80 billion by 2030, reflecting a compound annual growth rate (CAGR) of 8.0% from 2024 to 2030. The polylactic acid (PLA) market, a significant derivative of lactic acid, was valued at USD 1.5 billion in 2023 and is projected to reach USD 3.3 billion by 2028, growing at a CAGR of 17.1% from 2023 to 2028. Regionally, North America held a substantial share of the lactic acid market, accounting for 39.92% in 2023. The Asia Pacific region is experiencing rapid growth in the PLA market, driven by increasing demand for biodegradable plastics in countries like China and India. Europe also represents a significant market, with stringent regulations promoting the use of sustainable materials. Opportunities in these regions are bolstered by government initiatives supporting biodegradable polymers and growing consumer awareness of eco friendly products.
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BASF
Danimer Scientific
Henan Jindan Lactic Acid Technology
Synbra Technology
Dow Chemical
Corbion
Natureworks
Teijin
Wei Mon Industry
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Lactic Acid and Poly Lactic Acid (PLA) Market
Starch-based Raw Material
Sugarcane-based Raw Material
Corn-based Raw Material
Others
Lactic Acid
Poly Lactic Acid (PLA)
Packaging
Biomedical
Agriculture
Textiles
Food & Beverages
Others
Packaging Industry
Automotive Industry
Consumer Goods
Healthcare Industry
Textile Industry
Liquid
Solid
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Lactic Acid and Poly Lactic Acid (PLA) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Lactic Acid and Poly Lactic Acid (PLA) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Lactic Acid and Poly Lactic Acid (PLA) Market, By Type
6. Global Lactic Acid and Poly Lactic Acid (PLA) Market, By Application
7. Global Lactic Acid and Poly Lactic Acid (PLA) Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Lactic Acid and Poly Lactic Acid (PLA) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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