Polylactic Acid Market Is Expected To Grow Due To Rising Demand For Flexible Packaging Till 2030
Polylactic Acid Industry Overview The global polylactic acid market size was valued at USD 566.74 million in 2021 and is expected to advance at a compound annual growth rate (CAGR) of over 26.6% from 2022 to 2030. Growing demand for the product is mainly driven by the end-use industries such as agriculture, transport, textile, and packaging. Compared to conventional plastics, low carbon emission producing polylactic acid is significantly boosting the demand for the product globally. Rising demand for flexible packaging is fuelling the growth of the packaging industry globally. The increasing need for packaged foods, snacks, and ready-to-eat meals, among others, is substantially propelling the growth of the packaging industry. Thus, the growing packaging industry is further anticipated to create requirements for PLA during the forecast period. Gather more insights about the market drivers, restrains and growth of the Global Polylactic Acid Market ...