Market Size of Bio-polylactic Acid (PLA) Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 2.16 Million tons |
| Market Volume (2029) | 5.5 Million tons |
| CAGR (2024 - 2029) | > 20.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players_Market_-_Key_Plays.webp)
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Polylactic Acid (PLA) Market Analysis
The Bio-polylactic Acid Market size is estimated at 2.16 Million tons in 2024, and is expected to reach 5.5 Million tons by 2029, growing at a CAGR of greater than 20% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, nationwide lockdowns around the globe, disruption in manufacturing activities and supply chains, production halts and labor unavailability negatively impacted the market. However, the conditions started recovering in 2021, thereby restoring the growth trajectory of the market studied during the forecast period.
- The primary factor driving the market's growth is favorable government policies toward bio-plastics.
- On the flip side, the high cost of PLA is expected to hinder the development of the market studied.
- The growing production of genetically modified corn and the increasing usage of bio-PLA in 3D printing are likely to act as opportunities in the future.
- Asia-Pacific dominated the market worldwide, with the most significant consumption from countries like China and Japan.
