Bio-polylactic Acid (PLA) Films Market is set to Achieve Stellar Growth Exhibiting 15.0% CAGR, Noted AMR
According to a report by Allied Market Research, the global market for bio-polylactic acid films reached $354.8 million in 2020 and is forecasted to achieve $1.39 billion by 2030, with a growth rate of 15.0% from 2021 to 2030. The report offers comprehensive insights into the top investment opportunities, winning strategies, drivers, opportunities, market size estimations, competitive landscape, and evolving market trends.
Market Drivers and Trends:
The growth of the global bio-polylactic acid films market is driven by increasing consumer awareness regarding health and environmental concerns, a notable rise in demand for food packaging for extended preservation, and widespread adoption of bio-PLA films in agricultural practices, particularly for the cultivation of soft fruits and vegetables. However, the high cost associated with bio-PLA films may pose a challenge to market growth. Nevertheless, government initiatives aimed at promoting bio-PLA films are expected to create lucrative prospects for the industry.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 : https://www.alliedmarketresearch.com/request-sample/3267
Polylactic acid (PLA) is an aliphatic polyester formed by the polymerization of lactic acid. Bio-polylactic acid is a common bio-based plastic produced from bio-based monomers. Bio-PLA films are able to hold twists or, creases, unlike plastic films. The physical properties of polylactic acid make it a suitable alternative for fossil-based plastics in various applications of high-density polyethylene (HDPE), polyethylene terephthalate (PET), polypropylene (PP), and low-density polyethylene (LDPE).
Market Segmentation:
The report provides detailed segmentation of the global bio-polylactic acid films market based on technology, end-use, and region. In 2020, the multilayer technology segment dominated the market, accounting for nearly half of the global market share. Conversely, the atomic layer deposition segment is projected to exhibit the fastest CAGR of 16.7% during the forecast period.
𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.alliedmarketresearch.com/purchase-enquiry/3267
In terms of end-use, the food and beverage sector captured the largest market share in 2020, comprising almost two-fifths of the global market. Conversely, the medical and pharmaceutical segment is forecasted to witness the highest CAGR of 16.8% during the forecast period.
Regional Analysis:
Europe dominated the market in 2020, holding over two-fifths of the global market share. Meanwhile, the Asia-Pacific region is anticipated to register the highest CAGR of 16.7% during the forecast period.
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/bio-polylactic-acid-PLA-films-market/purchase-options
Key Players:
Major players in the global bio-polylactic acid films market include Amcor plc, Futerro, Hubei HYF Packaging Co., Ltd, Mondi Group, Natureworks LLC, Shandong Top Leader Plastic Packing Co., Ltd, Taghleef Industries Inc., Tejin Limited, TotalEnergiesCorbion, and Xiamen Changsu Industries Co., Ltd.
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