Global Bio-PLA Films Market was valued at $354 million in 2016, and is anticipated to reach $910 million by 2023, growing at a CAGR of 14.5% from 2017 to 2023.

Portland, OR -- (SBWire) -- 03/12/2018 --The physical properties of PLA make it an ideal candidate for replacement of fossil-based plastics in several application areas of low-density polyethylene (LDPE), high-density polyethylene (HDPE), polypropylene (PP), and polyethylene terephthalate (PET).

Positive growth indicators in the food & beverage industry and increase in demand for food packaging for prolonged preservation drive the bio-PLA films market. Moreover, rapid adoption of these films as a synthetic plastic in agricultural applications, such as cultivation of soft fruits and vegetables, has reduced harsh environmental impacts, leading to market growth. However, high product cost in comparison with synthetic and semi-synthetic films restrains the growth. In addition, relatively low vapor barrier and mechanical properties of the product may hamper industry growth in the future.

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The report emphasizes on the different type of technologies used in the market, which include sol-gel, atomic layer deposition (ALD), and multilayer. Based on end user, the market is classified into food & beverages, home & personal care, pharmaceuticals, agriculture, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Technological advancements, such as multilayer films and atomic layer deposition (ALD), have led to the introduction of novel bio-PLA films with key characteristics. The aforementioned trend, increase in consumer awareness towards bio-based product usage, and government initiative supporting usage of these products are expected to present numerous opportunities for market expansion.

The key players profiled in the report are NatureWorks LLC, Futerro, Tale & Lyle, Total Corbion PLA, Hiusan Biosciences, Toray Industries, Inc., Taghleef Industries, Amcor Ltd. Toyobo, and Avery Dennison Corporation.

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The other major players (not profiled in report) in the market include Jiangsu Jiulding, Teijin, Synbra Technology B.V., Zhejiang Hisun Group Co., Ltd., Innovia Films, Biobag International, Mondi Group, and Plastic Union.

Key Benefits:

- This report provides an extensive analysis of the current and emerging market trends & dynamics of the global bio-PLA films market.
- Trend analysis for all the regions is done by constructing estimations for key segments from 2017 to 2023 to identify the prevailing opportunities.
- The report assists to understand the strategies adopted by the leading companies in the industry.
- It evaluates competitive landscape of the bio-PLA films industry to understand the global market scenario.
- Extensive analysis is conducted by key player positioning and monitoring the top competitors in the global market.

Bio-Polylactic Acid (PLA) Films Market Key Segmentation:

By Technology

- Sol-Gel
- Atomic Layer Deposition (ALD)
- Multilayer

By End User

- Food & Beverages
- Home & Personal Care
- Pharmaceuticals
- Agriculture
- Others