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.
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- Market Coverage
- Market number available for – 2019-2025
- Base year- 2019
- Forecast period- 2020-2025
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
India PLA Market by Raw Material
- Corn-based PLA
- Sugar-based PLA
- Cassava-based PLA
- Others
India PLA Market 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.
The Report covers:
- Comprehensive research methodology of the India PLA market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the India PLA market.
- Insights about market determinants which are stimulating the India PLA market.
- Detailed and extensive market segments with regional distribution of forecast revenues.
- Extensive profiles and recent developments of market players.
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