Lactic Acid Market size worth over $6bn by 2024

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Lactic Acid Market size worth over 6bn by 2024
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Global Market Scenario of Gas Sensor Market

• Lactic Acid Market size is expected to reach USD
  6.2 billion by 2024. Polylactic Acid Market size
  is expected to reach USD 4.3 billion by 2024
  according to a new research report by Global
  Market Insights, Inc.
• Strong outlook towards bioplastics usage owing to
  environmental awareness and packaging application
  should fuel PLA market size. Increasing consumer
  awareness for biobased content in personal care
  product formulations should drive lactic acid
  market size.
• U.S. lactic acid market size may generate over
  USD 1.5 billion business by 2024. Growing number
  of manufacturing facilities along with increased
  focus on sustainability is likely to have a
  positive influence for regional growth. In
  addition, initiatives from the Obama
  Administration and bioplastics market should fuel
  product demand.

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• Germany PLA market size may witness gains at
  close to 16. Strict environmental regulations
  imposed on biobased plastic materials usage for
  packaging materials may drive regional industry
  growth.
• Lactic acid market size in food beverage
  applications may show gains at 14. It is used as
  emulsifying agents in baking food. It is used as
  acidulant, flavoring and pH buffering agent or
  inhibitor of bacterial spoilage various processed
  foods. PLA market demand in packaging application
  may witness growth at over 18 and register close
  to 1.3 kilo tons by 2024. It is used for
  applications in fruit vegetable packaging and
  in disposable products such as cups and cutlery.
  Bioplastic packaging such as rigid packaging and
  loose fill packaging has witnessed considerable
  regulatory support, with the pressing need for
  reducing GHG emissions.
• Fluctuating raw materials prices including sugar
  and tapioca starch has affected production cost
  and put pressure on lactic acid price trend. PLA
  market price trend follows premium pricing
  compared to conventional polymers such as
  polystyrene and polypropylene (PP).

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U.S. Polylactic Acid (PLA) Market size, by
application, 2013-2024 (USD Million)
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Latest Research Report _at_ https//www.gminsights.c
om/industry-analysis/lactic-acid-and-polylactic-ac
id-market Download Latest Report PDF _at_
https//www.gminsights.com/request-sample/detail/8
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360 Analysis
Application Analysis PLA market size in
packaging applications generated close to USD 300
million sales in 2015. It is used in bottles,
jars, containers, labels for fresh food
packaging. These plastic bottles are disposable
and durable, transparency and gloss. In addition,
is composted easily as compared to petroleum
based products and does not release poisonous
gases on incineration.  Regional
Analysis Germany lactic acid market size
generated over USD 100 million sales in 2015.
Growing number of manufacturing facilities along
with increased focus on sustainability is likely
to have a positive influence in industry growth
in the region. China lactic acid market may
witness gains at over 15. Upstream raw material
includes corn starch and downstream includes
medicine, food and beverage, cosmetics,
electronics and chemical engineering industry.
Strong regulatory framework promoting usage of
biobased materials in should drive industry
growth in the region.  Competitive Market
Share Global polylactic acid market share is
consolidated. Key industry participants include
Pyramid Bioplastics, NatureWorks and Purac. Other
prominent companies include BASF, Danimer
Scientific, Galactic, Futerro, Synbra Technology
and Musashino Chemical.

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