Abstract
Summary
The global lactic acid market size is projected to reach USD 2.8 billion by 2028, recording a CAGR of 12.4%, in terms of value. The global polylactic acid market size is anticipated to reach USD 2.9 billion by 2028, recording a CAGR of 17.7%, in terms of value.
“Surging customer demand for sustainable substitutes of petrochemical-based products is significantly driving the growth of the lactic acid market.”
Growing environmental concerns have led to a greater emphasis on eco-friendly solutions. Lactic acid, derived from renewable sources like corn starch or sugarcane, offers a greener alternative to petrochemicals. As businesses strive to reduce their carbon footprint and promote sustainability, the demand for lactic acid has seen a notable surge. The biodegradable nature of lactic acid presents a significant advantage. It can naturally break down without leaving harmful residues or contributing to environmental pollution. This characteristic is particularly advantageous in industries that require biodegradable materials, such as packaging and plastics, where lactic acid can be a viable choice. Governments and regulatory bodies are increasingly promoting the use of sustainable alternatives to petrochemicals. Various initiatives and regulations encourage the adoption of bio-based and renewable materials, providing further impetus to the lactic acid market.
“Europe is anticipated to have the highest share in the polylactic acid market, valued at 33.4% during the forecast period.”
Europe accounts for USD 0.4 Billion of the market size in global market for polylactic acid in 2023. The polylactic acid (PLA) market in Europe is witnessing remarkable growth, driven by the region's strong focus on sustainability and environmental consciousness. There is a growing awareness among consumers, businesses, and governments regarding the negative environmental impact of traditional plastics. As a biodegradable and renewable alternative, PLA is being widely embraced as a solution to reduce plastic waste and carbon footprint. European governments have implemented stringent regulations and policies that encourage the use of sustainable materials and the reduction of plastic waste, providing a favorable environment for the adoption of bio-based and biodegradable plastics like PLA. The volume and environmental impact of some plastic items are both subject to EU regulations. The EU has taken measures to combat plastic pollution. Single-use plastic plates, cutlery, straws, balloon sticks, and cotton buds were outlawed beginning on July 3, 2021, on the markets of EU Member States. This regulatory support incentivizes companies to transition to PLA for packaging, food service products, and other applications, thereby propelling market growth.
“Corn is the most frequently employed raw material in the production of lactic acid.”
Corn is abundantly available and widely cultivated, making it a reliable and cost-effective source for lactic acid production. Its widespread cultivation provides a stable supply chain and ensures consistent availability of raw materials. Additionally, corn contains high levels of starch, which can be easily converted into glucose, the primary substrate for lactic acid fermentation. The efficient conversion of corn starch into glucose enables high yields and cost-effective production of lactic acid. Furthermore, the established infrastructure and expertise in corn processing make it a preferred choice for lactic acid manufacturers, allowing for efficient extraction and processing of the raw material. The utilization of corn as the primary raw material in lactic acid production aligns with its economic viability, availability, and ease of conversion, making it a practical and widely adopted choice in the industry.
“The bakery & confectionery sub-segment of the application segment of lactic acid market is anticipated to be valued the largest at USD 0.3 billion in 2028.”
The market for confectionery and bakery items is gradually rising due to the rise in convenience food demand and consumer desire for enticing, delectable, and textural treats. The availability, affordability, and nutritional value of bakery goods are further elements influencing their continued existence in the modern market. Products from bakeries have become a staple in the diets of many customers. This has increased demand for the various baking ingredients used to create savory and textured baked goods. The American Bakers Association estimates that bakery products represent around 2.1% of the US gross domestic product. Lactic acid serves as a versatile ingredient that enhances the quality and shelf life of bakery and confectionery products. It acts as a natural preservative, inhibiting the growth of mold and bacteria, thereby extending the product's freshness and reducing the need for artificial additives. Moreover, lactic acid contributes to the desirable texture, flavor, and color development in baked goods and confections. It imparts a mild tanginess, which adds complexity and depth to the taste profile of various products, including bread, pastries, and candies. With the rising consumer demand for natural ingredients, lactic acid's ability to perform multiple functions while aligning with clean-label requirements has made it an attractive choice for the bakery and confectionery industry.
“The liquid segment of the global lactic acid market is projected to grow and have the largest market share for the forecasted year.“
In 2023, the market was led by the liquid form category. The versatility of liquid lactic acid is expected to be a significant driver of its market growth. Liquid lactic acid offers a wide range of applications across various industries, including food and beverages, pharmaceuticals, personal care, and cleaning products. Its fluid form allows for easy incorporation into different formulations, making it adaptable to diverse product requirements. In the food industry, liquid lactic acid serves as a natural preservative, pH regulator, and flavor enhancer, enhancing the shelf life and taste of various products. It finds use in dairy, bakery, confectionery, and meat processing, among others. In the pharmaceutical industry, liquid lactic acid is utilized for drug formulation, controlled-release systems, and as a chiral intermediate in the synthesis of active pharmaceutical ingredients. The personal care industry benefits from its use in skincare, hair care, and cosmetic products due to its moisturizing, exfoliating, and pH-balancing properties. Additionally, liquid lactic acid plays a vital role in the production of biodegradable polymers, cleaning agents, and industrial applications. With its wide-ranging applications and versatility, the market for liquid lactic acid is poised for growth as industries increasingly recognize its benefits and utilize it in innovative ways..
The break-up of the profile of primary participants in the lactic acid market:
By Company: Tier 1- 35%, Tier 2- 25%, Tier 3 – 40%
By Designation: Managers – 40%, CXOs – 35%, and Executives- 25%
By Region: North America – 15%, Europe – 30%, Asia Pacific -45%, RoW - 10%
Prominent companies include Corbion (Netherlands), Cargill, Incorporated (US), Galactic (Belgium), Unitika Ltd (Japan), Henan Jindan lactic acid Technology Co., Ltd. (China), TORAY INDUSTRIES, INC. (Japan), Sulzer Ltd (China), and others.
Research Coverage:
In this report, the lactic acid market has been categorized by raw materials (corn, cassava, sugarcane, yeast extract. and others), form (dry, liquid), application (biodegradable polymers, food & beverages, pharmaceutical products), and region. The polylactic acid market has been segmented by application (packaging, fiber & fabrics, agriculture) and region. . The report's coverage includes specific information on the key elements—such as drivers, restraints, challenges, and opportunities—influencing the market for lactic acid. A comprehensive evaluation of the top industry players has been conducted to provide insights into their business overview, products, and services; important strategies; contracts, partnerships, agreements, the introduction of new products and services, acquisitions and mergers, and current trends affecting the lactic acid market. This research covers competitive analysis of future startups in the lactic acid market environment.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall lactic acid market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers (High demand for lactic acid and polylactic acid in end-user applications), restraints (Fluctuations in raw material prices), opportunities (Government regulations and frameworks to encourage the use of bioplastics), and challenges (High initial investment costs involved for small & medium enterprises) influencing the growth of the lactic acid market.
• Product Development/Innovation: Detailed insights on research & development activities, and new product & service launches in the lactic acid market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the lactic acid market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the lactic acid market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Corbion (Netherlands), Cargill, Incorporated (US), Galactic (Belgium), and Unitika Ltd (Japan), among others in the lactic acid market strategies.
Table of Contents
1 INTRODUCTION 38
1.1 STUDY OBJECTIVES 38
1.2 MARKET DEFINITION 38
1.3 STUDY SCOPE 39
1.3.1 REGIONS COVERED 39
1.4 YEARS CONSIDERED 40
1.5 CURRENCY CONSIDERED 40
1.6 UNITS CONSIDERED 41
1.7 STAKEHOLDERS 41
1.8 SUMMARY OF CHANGES 42
1.8.1 RECESSION IMPACT 42
2 RESEARCH METHODOLOGY 43
2.1 RESEARCH DATA 43
2.1.1 SECONDARY DATA 44
- 2.1.1.1 Key data from secondary sources 44
2.1.2 PRIMARY DATA 44
- 2.1.2.1 Key data from primary sources 45
- 2.1.2.2 Key industry insights 45
- 2.1.2.3 Breakdown of primary interviews 46
2.2 FACTOR ANALYSIS 46
2.2.1 INTRODUCTION 46
2.2.2 DEMAND-SIDE ANALYSIS 47
2.2.3 SUPPLY-SIDE ANALYSIS 47
2.3 MARKET SIZE ESTIMATION 48
2.3.1 APPROACH ONE (BASED ON APPLICATION AND FORM, BY REGION) 48
2.3.2 APPROACH ONE (BASED ON APPLICATION, BY REGION) 49
2.3.3 APPROACH TWO (BASED ON GLOBAL MARKET) 50
2.4 DATA TRIANGULATION 51
2.5 RESEARCH ASSUMPTIONS 52
2.6 RESEARCH LIMITATIONS 52
2.7 RECESSION IMPACT ANALYSIS 53
3 EXECUTIVE SUMMARY 58
4 PREMIUM INSIGHTS 64
4.1 ATTRACTIVE OPPORTUNITIES FOR KEY PLAYERS IN MARKET 64
4.2 ATTRACTIVE OPPORTUNITIES IN POLYLACTIC ACID MARKET 64
4.3 GLOBAL LACTIC ACID MARKET: SHARES OF MAJOR REGIONAL SUBMARKETS 65
4.4 GLOBAL POLYLACTIC ACID MARKET: SHARES OF MAJOR REGIONAL SUBMARKETS 65
4.5 NORTH AMERICA: LACTIC ACID MARKET, BY APPLICATION & KEY COUNTRY 66
4.6 EUROPE: POLYLACTIC ACID MARKET, BY APPLICATION & KEY COUNTRY 66
4.7 GLOBAL LACTIC ACID MARKET, BY RAW MATERIAL & REGION 67
4.8 GLOBAL LACTIC ACID MARKET, BY FORM 68
4.9 GLOBAL LACTIC ACID MARKET, BY APPLICATION 68
4.10 LACTIC ACID MARKET, BY FOOD & BEVERAGE SUB-APPLICATION 69
4.11 GLOBAL POLYLACTIC ACID MARKET, BY APPLICATION 69
5 MARKET OVERVIEW 70
5.1 INTRODUCTION 70
5.2 MARKET DYNAMICS 72
5.2.1 DRIVERS 72
- 5.2.1.1 High demand for lactic & polylactic acid in end user applications 72
- 5.2.1.2 Rising demand for environmentally friendly resources 73
- 5.2.1.3 Technological advancements to encourage production of lactic & polylactic acid 74
5.2.2 RESTRAINTS 75
- 5.2.2.1 Fluctuations in raw material prices 75
- 5.2.2.2 Quality of packaged food & beverage products to become major concern for manufacturers 76
5.2.3 OPPORTUNITIES 76
- 5.2.3.1 Multi-functionalities of lactic & polylactic acids leading to increased demand for biopolymers and cosmetic products 76
- 5.2.3.2 Government regulations and frameworks encouraging use of bioplastics 77
5.2.4 CHALLENGES 77
- 5.2.4.1 Lack of process-specific technology for usage of lactic & polylactic acids in emerging economies 77
- 5.2.4.2 High initial investment costs borne by small & medium enterprises 78
6 INDUSTRY TRENDS 79
6.1 INTRODUCTION 79
6.2 VALUE CHAIN ANALYSIS 79
6.2.1 RESEARCH AND PRODUCT DEVELOPMENT 80
6.2.2 RAW MATERIAL SOURCING 80
6.2.3 PRODUCTION AND PROCESSING 80
6.2.4 DISTRIBUTION 81
6.2.5 MARKETING AND SALES 81
6.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 81
6.4 TARIFF AND REGULATORY LANDSCAPE 82
6.5 REGULATORY FRAMEWORK 85
6.5.1 NORTH AMERICA 86
6.5.2 EUROPE 86
6.5.3 ASIA 88
6.5.4 OTHERS 89
6.6 PATENT ANALYSIS 89
6.7 TRADE ANALYSIS 91
6.8 PRICING ANALYSIS 92
6.8.1 AVERAGE SELLING PRICE TREND ANALYSIS 92
6.9 LACTIC ACID MARKET: ECOSYSTEM MARKET MAP 93
6.9.1 DEMAND SIDE 93
6.9.2 SUPPLY SIDE 93
6.10 TECHNOLOGY ANALYSIS 95
6.10.1 IMMOBILIZED BIOREACTOR DESIGN FOR LACTIC ACID (LA) PRODUCTION 95
6.10.2 GENETIC AND METABOLIC ENGINEERING 96
6.11 CASE STUDIES 96
6.11.1 ENHANCED RESOURCE EFFICIENCY WITH NEW ENZYME DEVELOPMENT IN ADJUNCT BREWING 96
6.12 PORTER’S FIVE FORCES ANALYSIS 97
6.12.1 INTENSITY OF COMPETITIVE RIVALRY 97
6.12.2 BARGAINING POWER OF SUPPLIERS 97
6.12.3 BARGAINING POWER OF BUYERS 98
6.12.4 THREAT OF SUBSTITUTES 98
6.12.5 THREAT OF NEW ENTRANTS 98
6.13 KEY STAKEHOLDERS AND BUYING CRITERIA 99
6.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 99
6.13.2 KEY STAKEHOLDERS AND BUYING CRITERIA 99
6.13.3 KEY STAKEHOLDERS AND BUYING CRITERIA 100
6.13.4 BUYING CRITERIA 101
6.14 KEY CONFERENCES AND EVENTS (2023-2024) 102
7 LACTIC ACID MARKET, BY RAW MATERIALS 104
7.1 INTRODUCTION 105
7.2 CORN 106
7.2.1 COST-EFFECTIVENESS AND APPROPRIATE COMPOSITION TO MAKE IT PREFERRED RAW MATERIAL 106
7.3 CASSAVA 107
7.3.1 HIGH CONTENT OF STARCH IN CASSAVA TO MAKE IT APPROPRIATE RAW MATERIAL 107
7.4 SUGARCANE 108
7.4.1 SUGARCANE BAGASSE TO BE OBTAINED FROM AGRICULTURE AND DISTRIBUTED FOR RECYCLING 108
7.5 YEAST EXTRACT 109
7.5.1 YEAST EXTRACT TO FACILITATE FERMENTATION PROCEDURE 109
7.6 OTHERS 110
7.6.1 LIGNOCELLULOSIC AGRICULTURAL WASTE TO BE FOUND IN ABUNDANCE 110
8 LACTIC ACID MARKET, BY FORM 112
8.1 INTRODUCTION 113
8.2 LIQUID 114
8.2.1 EASE OF USE IN VARIOUS APPLICATIONS TO ENCOURAGE LACTIC ACID USAGE IN LIQUID FORM 114
8.3 DRY 115
8.3.1 DRY FORM TO ENABLE IMPROVED ACCURACY OF DOSAGES 115
9 LACTIC ACID MARKET, BY APPLICATION 117
9.1 INTRODUCTION 118
9.2 BIODEGRADABLE POLYMERS 119
9.3 FOOD & BEVERAGES 120
9.3.1 BEVERAGES 122
- 9.3.1.1 Use of lactic acid in beverages for superior shelf life 122
9.3.2 BAKERY & CONFECTIONERY PRODUCTS 123
- 9.3.2.1 Usage of lactic acid to increase shelf life of bakery & confectionery 123
9.3.3 DAIRY PRODUCTS 124
- 9.3.3.1 Mineral salts of lactic acid to fortify dairy products 124
9.3.4 MEAT PRODUCTS 125
- 9.3.4.1 Lactic acid to preserve taste and tenderness of meat & products 125
9.3.5 OTHER FOOD PRODUCTS 126
- 9.3.5.1 Lactic acid to replace acetic acid and vinegar as food additives 126
9.4 PERSONAL CARE PRODUCTS 127
9.4.1 CONSUMER PREFERENCE TO ENCOURAGE DEMAND FOR CLEAN-LABEL PERSONAL CARE AND COSMETIC PRODUCTS 127
9.5 PHARMACEUTICAL PRODUCTS 128
9.5.1 LACTIC ACID TO BE USED AS ELECTROLYTE IN PARENTERAL & INTRAVENOUS SOLUTIONS 128
9.6 OTHER APPLICATIONS 129
9.6.1 LACTIC ACID TO BE USED IN VARIOUS APPLICATIONS DUE TO ITS NON-TOXIC BIODEGRADABLE NATURE 129
10 POLYLACTIC ACID MARKET, BY APPLICATION 131
10.1 INTRODUCTION 132
10.2 PACKAGING 134
10.2.1 RIGID PACKAGING 135
- 10.2.1.1 Polylactic acid-based rigid packaging to be used in biodegradable and compostable food services packages 135
10.2.2 COMPOST BAGS 135
- 10.2.2.1 Usage of composite bags to mitigate organic waste 135
10.2.3 LOOSE-FILL PACKAGING 135
- 10.2.3.1 Loose-fill packaging to help reduce freight cost 135
10.3 FIBER & FABRICS 136
10.3.1 RENEWABLE NATURE AND TRANSFORMATION ENERGY OF PLA TO DRIVE DEMAND IN TEXTILE 136
10.4 AUTOMOBILES 137
10.4.1 INCREASED PREFERENCE FOR TENSILE PLASTIC ALTERNATIVE TO FUEL DEMAND 137
10.5 ELECTRONICS & ELECTRICALS 138
10.5.1 USAGE OF POLYLACTIC ACID IN ELECTRONICS TO REMAIN LOW 138
10.6 AGRICULTURE 139
10.6.1 POLYLACTIC ACID TO REPLACE MULCH FILMS IN AGRICULTURE 139
10.7 OTHER APPLICATIONS 140
10.7.1 POLYLACTIC ACID TO BE USED IN VARIOUS APPLICATIONS DUE TO ITS BIOCOMPATIBLE NATURE 140
11 LACTIC ACID MARKET, BY REGION 142
11.1 INTRODUCTION 143
11.2 NORTH AMERICA 145
11.2.1 NORTH AMERICA: RECESSION IMPACT 146
11.2.2 US 151
- 11.2.2.1 Increase in investments, expansions, and product launches to encourage growth of bioplastics & biopolymers 151
11.2.3 CANADA 152
- 11.2.3.1 Reducing plastic waste and enhancing environmental sustainability to increase demand for alternative materials and packaging solutions 152
11.2.4 MEXICO 153
- 11.2.4.1 Use of biodegradable plastics in various food packaging applications to drive demand for lactic acid 153
11.3 EUROPE 154
11.3.1 EUROPE: RECESSION IMPACT 155
11.3.2 GERMANY 159
- 11.3.2.1 Government regulations to encourage recycling of packaging waste 159
11.3.3 ITALY 160
- 11.3.3.1 Ban on conventional plastic items to enhance demand for bioplastic materials 160
11.3.4 SPAIN 161
- 11.3.4.1 Growing awareness regarding use of biodegradable polymers to boost market 161
11.3.5 FRANCE 162
- 11.3.5.1 Demand for lactic acid as functional additive to drive market growth 162
11.3.6 UK 163
- 11.3.6.1 Demand for bioplastic & biopolymer products projected to grow during forecast period 163
11.3.7 REST OF EUROPE 164
- 11.3.7.1 Poland, Netherlands, and Belgium to be major consumers of lactic acid 164
11.4 ASIA PACIFIC 165
11.4.1 ASIA PACIFIC: RECESSION IMPACT 166
11.4.2 CHINA 171
- 11.4.2.1 High demand for lactic acid among key players to drive growth of biodegradable polymers 171
11.4.3 JAPAN 172
- 11.4.3.1 Advancements in pharmaceuticals to drive market growth 172
11.4.4 INDIA 173
- 11.4.4.1 Advancements in technology for lactic acid usage in food & beverage applications to drive market growth 173
11.4.5 AUSTRALIA & NEW ZEALAND 174
- 11.4.5.1 Rising demand for natural and safe ingredients in personal care products to lead to market growth 174
11.4.6 REST OF ASIA PACIFIC 175
- 11.4.6.1 Food & beverage manufacturers to opt for lactic acid as alternative to traditional chemicals 175
11.5 ROW 176
11.5.1 ROW: RECESSION IMPACT 176
11.5.2 SOUTH AMERICA 180
- 11.5.2.1 Biodegradable polymers to witness significant demand as key companies set up manufacturing units in South America 180
11.5.3 MIDDLE EAST 181
- 11.5.3.1 Expansion of food processing industry to drive market growth 181
11.5.4 AFRICA 182
- 11.5.4.1 Rising plastic usage to lead to increased demand for lactic acid in Africa 182
12 POLYLACTIC ACID MARKET, BY REGION 183
12.1 INTRODUCTION 184
12.2 NORTH AMERICA 186
12.2.1 US 189
- 12.2.1.1 Rising awareness for reducing plastic waste to drive market growth 189
12.2.2 CANADA 190
- 12.2.2.1 Government regulations to deter plastic use to drive market growth 190
12.2.3 MEXICO 191
- 12.2.3.1 Increased demand for biodegradable bags to drive market growth 191
12.3 EUROPE 192
12.3.1 GERMANY 195
- 12.3.1.1 Increased demand for biopolymer automobile components to fuel market growth 195
12.3.2 ITALY 196
- 12.3.2.1 Increased awareness for environmentally friendly products among Italian customers to drive market growth 196
12.3.3 SPAIN 198
- 12.3.3.1 Rising demand for processed food products to boost market growth 198
12.3.4 UK 199
- 12.3.4.1 Growth opportunities for manufacturers in automobile industry to drive market growth 199
12.3.5 FRANCE 200
- 12.3.5.1 Expansion of key players to drive market growth 200
12.3.6 REST OF EUROPE 201
- 12.3.6.1 Industrial developments to enhance use in packaging and agriculture 201
12.4 ASIA PACIFIC 202
12.4.1 CHINA 206
- 12.4.1.1 Biodegradable nature of PLA to fuel its demand in various industries 206
12.4.2 JAPAN 207
- 12.4.2.1 Advancements in automobile industry to drive market growth 207
12.4.3 INDIA 208
- 12.4.3.1 Rising demand for processed food to encourage growth of eco-friendly food packaging applications 208
12.4.4 AUSTRALIA & NEW ZEALAND 209
- 12.4.4.1 Decrease in raw material prices to encourage usage of PLA 209
12.4.5 REST OF ASIA PACIFIC 210
- 12.4.5.1 Manufacturers to opt for PLA as an alternative to traditional plastics 210
12.5 REST OF THE WORLD (ROW) 211
12.5.1 SOUTH AMERICA 214
- 12.5.1.1 Increased export of biopolymers to drive market growth 214
12.5.2 MIDDLE EAST 215
- 12.5.2.1 Key manufacturers to opt for biodegradable materials for usage in industrial applications 215
12.5.3 AFRICA 216
- 12.5.3.1 Sluggish economic growth and low-technological development to lead to muted market demand 216
13 COMPETITIVE LANDSCAPE 217
13.1 OVERVIEW 217
13.2 STRATEGIES ADOPTED BY KEY PLAYERS 217
13.3 HISTORICAL REVENUE ANALYSIS OF KEY PLAYERS 219
13.4 MARKET SHARE ANALYSIS 220
13.5 COMPANY EVALUATION QUADRANT (KEY PLAYERS) 221
13.5.1 STARS 221
13.5.2 EMERGING LEADERS 221
13.5.3 PERVASIVE PLAYERS 221
13.5.4 EMERGING COMPANIES 221
13.5.5 COMPETITIVE BENCHMARKING 223
13.6 LACTIC ACID MARKET: EVALUATION QUADRANT OF STARTUPS/SMES 225
13.6.1 PROGRESSIVE COMPANIES 225
13.6.2 STARTING BLOCKS 225
13.6.3 RESPONSIVE COMPANIES 225
13.6.4 DYNAMIC COMPANIES 225
13.6.5 COMPETITIVE BENCHMARKING 227
13.7 COMPETITIVE SCENARIO 228
13.7.1 PRODUCT LAUNCHES 228
14 COMPANY PROFILES 232
14.1 KEY PLAYERS 232
14.1.1 CORBION 232
14.1.2 CARGILL, INCORPORATED 237
14.1.3 GALACTIC 243
14.1.4 UNITIKA LTD 245
14.1.5 SULZER LTD 247
14.1.6 TORAY INDUSTRIES 250
14.1.7 HENAN JINDAN LACTIC ACID TECHNOLOGY CO., LTD 252
14.1.8 MUSASHINO CHEMICAL LABORATORY, LTD 256
14.1.9 VIGON INTERNATIONAL, LLC 258
14.1.10 HENAN XINGHAN BIOTECHNOLOGY CO. LTD 259
14.1.11 DANIMER SCIENTIFIC 261
14.1.12 JUNGBUNZLAUER SUISSE AG 262
14.1.13 FOODCHEM INTERNATIONAL CORPORATION 264
14.1.14 VAISHNAVI BIO TECH INTERNATIONAL LIMITED 265
14.1.15 SPECTRUM CHEMICAL 266
14.1.16 GODAVARI BIOREFINERIES LTD 268
14.1.17 PROAGRO GMBH 269
14.1.18 QINGDAO ABEL TECHNOLOGY CO. LTD 270
14.1.19 ABMCOMPOSITE 270
14.1.20 JIAAN BIOTECH 271
15 ADJACENT & RELATED MARKETS 272
15.1 INTRODUCTION 272
15.2 LIMITATIONS 272
15.3 BIOPLASTICS & BIOPOLYMERS MARKET 272
15.3.1 MARKET DEFINITION 272
15.3.2 MARKET OVERVIEW 274
15.3.3 BIOPLASTICS & BIOPOLYMERS MARKET, BY PRODUCT TYPE 274
15.3.4 BIOPLASTICS & BIOPOLYMERS MARKET, BY REGION 278
15.4 ORGANIC ACID MARKET 280
15.4.1 MARKET DEFINITION 280
15.4.2 MARKET OVERVIEW 280
15.4.3 ORGANIC ACID MARKET, BY APPLICATION 280
15.4.4 ORGANIC ACID MARKET, BY REGION 281
16 APPENDIX 283
16.1 DISCUSSION GUIDE 283
16.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 289
16.3 CUSTOMIZATION OPTIONS 291
16.4 RELATED REPORTS 291
16.5 AUTHOR DETAILS 292