Global Bio-polylactic Acid (PLA) Films Market: Overview
- Bio-polylactic acid (PLA) is a common bio-based plastic synthesized from bio-based monomers. PLA is an aliphatic polyester produced by the polymerization of lactic acid. Bio-PLA films can hold creases or twists, unlike plastic films. Physical properties of PLA make it an ideal substitute for fossil-based plastics in several applications of low-density polyethylene (LDPE), high-density polyethylene (HDPE), polypropylene (PP), and polyethylene terephthalate (PET).
- The use of bio-based materials as food packaging materials is growing rapidly, owing to their advantages over fossil-fuel-based plastics, such as biodegradability of the finished product
Key Drivers of Global Bio-polylactic Acid (PLA) Films Market
- Growth of the global food & beverages industry and increase in the demand for food packaging for prolonged preservation drive the global bio-PLA films market. Rapid adoption of bio-PLA films in agricultural applications, such as cultivation of soft fruits and vegetables, has reduced adverse effects on the environment. Growing production of genetically modified corn and rising usage of bio-PLA films in 3D printing are likely to create lucrative opportunities for the global bio-PLA films market during the forecast period.
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High Costs of Bio-polylactic Acid (PLA) Films to Hamper Global Market
- Higher costs of bio-PLA films than synthetic and semi-synthetic films are expected to restrain the global bio-PLA films market during the forecast period
Key Segment of Global Bio-polylactic Acid (PLA) Films Market
- The pharmaceutical segment is expected to hold a major share of the global Bio-polylactic acid (PLA) Films market during the forecast period. Non-toxic and non-carcinogenic effects of polylactic acid on the human body make it ideal for use in biopharmaceutical applications such as sutures, clips, and drug delivery systems (DDS). Food & beverages and agriculture segments are anticipated to provide lucrative opportunities to the global bio-PLA films market during the forecast period. In the food & beverages sector, bio-PLA is used in packaging systems such as form-fill-seal yogurt containers or coffee capsules.
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Europe to Hold a Major Share of Global Bio-polylactic Acid (PLA) Films Market
- Europe is expected to dominate the global Bio-polylactic acid (PLA) Films market, in terms of both value and volume, during the forecast period. The market in Asia Pacific is expected to expand at a rapid pace, owing to increase in the demand for bio-PLA for use in food packaging and medical applications. Increasing consumer awareness about and government support for use of eco-friendly products in countries such as China, India, Japan, and Thailand are projected to boost the global bio-PLA films market from 2019 to 2027.
- Rapid growth in the consumption of bio-PLA films in China can be attributed to advancements in packaging and medical sectors. The packaging industry in the country is growing rapidly, due to rising demand for FMCG goods. Increase in the demand for eco-friendly packaging has benefitted the packaging sector in China. High demand for ready-to-cook products from the food & beverages industry is fueling the demand for high-quality packaging in the country, thereby driving the Bio-polylactic acid (PLA) films market in China.
- Presence of leading manufacturing companies in North America, including Nature Works LLC and Total Corbion PLA, is anticipated to have a positive impact on the bio-PLA market in the region during the forecast period
- Rise in the consumption of biodegradable polymers is likely to create opportunities for the bio-PLA films market in North America during the forecast period
Key Players Operating in Global Market
The global Bio-polylactic acid (PLA) Films Market is highly fragmented, with the top manufacturers accounting for approximately 45%–50% share of the global market. Key players operating in the global bio-polylactic acid market are:
- NatureWorks LLC
- Tate & Lyle
- Total Corbion
- TORAY INDUSTRIES, INC.
- Taghleef Industries
- Amcor plc
- TOYOBO CO., LTD.
Global Bio-polylactic Acid (PLA) Films Market: Research Scope
Global Bio-polylactic Acid (PLA) Films Market, by Technology
- Atomic Layer Deposition (ALD)
Global Bio-polylactic Acid (PLA) Films Market, by End-use Industry
- Food & Beverages
- Home & Personal Care
Global Bio-polylactic Acid (PLA) Films Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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