The market size of the Polylactic Acid Market Industry is projected to reach USD 3.3 billion by 2028, at a CAGR of 17.1% from USD 1.5 billion in 2023. The increasing demand from the packaging, agriculture, and textile end-use industry coupled with the new developing technologies, will contribute to the rapid growth in the demand for PLA. Moreover, PLA market growth is primarily driven by the flexible packaging in the food industry, ban on single-use plastics in Europe, and strict regulations and policies against use of conventional plastics products, which has increased the global consumption of PLA for development of biodegradable products.
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Based on grades, the PLA market is segmented into thermoforming grade, injection molding grade, extrusion grade, blow molding grade, and others. Thermoforming grade segment to dominate the PLA market during the forecast period. Thermoforming grade PLA are completely compostable and biodegradable. They have properties similar to that of petroleum-based resins when converted into sheets for thermoforming. They are ideal for food packaging trays for baked goods, fruits, and vegetables. Thermoforming grade offers excellent clarity, strength, and formability, making it a preferred choice for thermoforming processes in industries like food, cosmetics, and retail.
Based on applications, the PLA market is segmented into rigid thermoforms, films & sheets, and bottles. Rigid thermoform application segment to dominate the PLA market during the forecast period. Rigid thermoforming has an inflexible shape or form. ‘Design for recycling’ strategies can help maximize the recovery rate for waste plastics, particularly in packaging applications such as personal care products. Additionally, rigid packaging is ideal for shipping cartons, bags, boxes, containers, cans, and others such as paper & paperboard substrates.
Based on end-use industries, the PLA market is segmented into packaging, consumer goods, agricultural, textile, biomedical, and others. Packaging industry to dominate the PLA market during the forecast period due to its increasing focus on sustainability and eco-friendly solutions. PLA’s properties such as clarity, rigidity, and biodegradability make it an attractive choice for packaging materials. With consumers growing preference for sustainable packaging, industries such as food & beverages, e-commerce, and FMCG are adopting PLA to meet these demands. Additionally, regulatory policies encouraging the use of bio-based materials further contribute to the packaging industry’s dominance in driving the PLA market.
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Europe is the largest and fastest-growing market for PLA. This growth is mainly attributed to the region’s stringent regulations promoting sustainability and reducing carbon emissions, leading to increased demand for eco-friendly alternatives like PLA. Additionally, the well-established infrastructure for waste management and recycling in Europe supports the usage of biodegradable materials like PLA, further contributing to its growth in the market. The increasing application of PLA in end-use industries, such as packaging, agriculture, and biomedical in Europe, is expected to support the PLA market growth during the forecast period.
