India Polylactic Acid (PLA) Market Trends, Size, Forecast - 2019-2025

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India Polylactic Acid (PLA) Market Trends, Size, Forecast - 2019-2025

 

India polylactic acid (PLA) market is expected to grow at a CAGR of around 21.1% during the forecast period. India PLA market is growing significantly owing to the growing food processing and packaging industry in India. The food sector in India has been significantly emerging as a high-profit and high-growth sector as it has high potential for value addition, primarily under the food processing industry. According to the India Brand Equity Foundation (IBEF), the food processing industry in India accounts for a total of 32% of India’s total food market. The food processing sector in India has contributed nearly 14% to India’s GDP in 2016. It signifies the importance of the food processing sector in India. The Indian government has been making efforts for the growth of the food processing industry.

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According to the Ministry of Food Processing Industries (MoFPI), the government has been carrying out efforts to boost investments in the business. The government has accepted proposals for joint ventures, industrial licenses, international collaborations; and 100% export-oriented units. As per the Department of Industrial Policies and Promotion (DIPP), the Indian food processing sector has attracted FDI of nearly $7.5 billion during the period April 2000-March 2017. Moreover, the Indian online food ordering business is at burgeoning stage due to the availability of food delivery companies such as Swiggy, TinyOwl, Zomato, and FoodPanda. This organized food business is expected to witness remarkable growth in the future. According to the IBEF, the online food delivery industry rose at 150% year-on-year with an anticipated Gross Merchandise Value (GMV) of $300 million in 2016. As the food processing industry augments in India, it is expected to increase the demand for PLA for packaging purposes, thereby creating opportunities for the growth of the market over the future years.

A full report of India Polylactic Acid (PLA) Market is available at: https://www.omrglobal.com/industry-reports/india-polylactic-acid-market

India PLA Market Segmentation

B y Raw Material 

  • Corn-based PLA

  • Sugar-based PLA

  • Cassava-based PLA

  • Others

By Application

  • Packaging

  • Construction Material

  • Catering and Tableware

  • Agricultural Material

  • Consumer Goods

  • Electronic Material

  • Automobile

  • Others

Company Profiles

  • Arkema SA

  • BASF SE

  • Corbion N.V.

  • DuPont de Nemours, Inc.

  • Merck KGaA

  • Natur Tec India Pvt Ltd.

  • Shree PLA Private Ltd.

  • thyssenKrupp AG

  • Toray Industries, Inc. 

  • Vexma Technologies Pvt. Ltd.

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Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

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Keywords: size,forecast - 2019-2025

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