Water soluble packaging films boast diverse applications and use across industries. They find extensive use in the pharmaceutical sector for unit-dose packaging, reducing medication errors, and ensuring precise dosing. In the food industry, these films package single-serving products, reducing waste. Water soluble films also play a crucial role in textile manufacturing, aiding in embroidery and printing processes. Their eco-friendly and biodegradable nature makes them an ideal choice for agricultural applications, aiding the controlled release of fertilizers. These films dissolve in water, leaving no residue, ensuring convenience and environmental sustainability.
According to Data Bridge Market Research the Global Water Soluble Packaging Films Market accounted for USD 355.10 million in 2021 and is expected to reach USD 557.49 million by 2029. The market is expected to grow with a CAGR of 5.80% in the forecast period of 2022 to 2029.
“Increased demand across the agricultural sector boosts the market’s growth”
The water-soluble packaging films market is witnessing growth due to increased demand across the agricultural sector. As sustainable agricultural practices gain prominence, farmers and growers are adopting water-soluble films for packaging fertilizers, pesticides, and other agrochemicals. These films dissolve in water, eliminating the need for manual disposal and reducing environmental impact. Additionally, water-soluble films aid in precise and controlled dosing of agricultural inputs, enhancing efficiency and ensuring optimum crop protection. This rising demand from the agricultural industry is driving market expansion.
What restraints the growth of the global water soluble packaging films market?
“High-cost restraints the market’s growth”
High costs are a significant restraint on the growth of the water-soluble packaging films market. The specialized materials and manufacturing processes required to produce these films contribute to their expensive nature. As industries seek cost-effective and sustainable solutions, the higher price of water-soluble films can limit their widespread adoption. Manufacturers need to address cost concerns and explore more affordable alternatives to unlock the full potential of water-soluble packaging films and drive broader market acceptance and growth.
Segmentation: Global Water Soluble Packaging Films Market
The global water soluble packaging films market is segmented on the basis of application, raw materials, solubility type and end use products.
- On the basis of application, the water soluble packaging films market is segmented into bags, pouches, sachets, and others.
- On the basis of raw materials, the water soluble packaging films market is segmented into polymers, surfactants, and fibers.
- On the basis of solubility type, the water soluble packaging films market is segmented into hot water soluble, and cold water soluble.
- On the basis of end use products, the water soluble packaging films market is segmented into agriculture chemicals, industrial chemicals, laundry detergents, disinfectants, water treatment chemicals, and others.
Regional Insights: North America dominates the Global Water Soluble Packaging Films Market
North America dominates the water soluble packaging films market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029 due to increasing awareness among people about the necessity to reduce single-use plastics. As environmental consciousness rises, consumers are actively seeking eco-friendly alternatives, such as water-soluble packaging films, to minimize plastic waste and its impact on the environment, spurring demand in the region.
Asia-Pacific, on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029 owing to widespread adoption of water-soluble films in various sectors, including pharmaceuticals, food packaging, textiles, agriculture, building, and construction. These films offer convenience, precise dosing, and eco-friendliness, making them valuable solutions across multiple industries, driving their high utilization and demand in the region.
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Recent Developments
- In October 2020, Cortec Corporation has revealed that it is now producing its patented EcoSol water-soluble pouches at its European bioplastics plant in Croatia. This strategic expansion is intended to cater to the demands of European and Asian customers, ensuring efficient delivery and enhanced customer service in these regions.
- In July 2020, Kuraray has recently inaugurated a new manufacturing facility in Lebanon, Indiana, USA. With this addition, the company now operates four factories in Indiana, including one in LaPorte and two in Portage.
The Prominent Key Players Operating in the Global Water Soluble Packaging Films Market Include:
- Kuraray Co. Ltd. (Japan)
- Sekisui Chemical Co. Ltd. (Japan)
- Mitsubishi Chemical Corporation (Japan)
- Aicello Corporation (Japan)
- Arrow Greentech Ltd. (India)
- Cortec Corporation (U.S.)
- Changzhou Greencradleland Macromolecule Materials Co. Ltd. (China)
- Guangdong Water Soluble Proudly Co. Ltd. (China)
- AMC (U.K.) Ltd (U.K.)
- Arkema (France)
- LyondellBasell Industries Holdings B.V. (Netherlands)
- Exxon Mobil Corporation (U.S.)
- Mitsui Chemicals Inc., (Japan)
- Braskem (Brazil)
- Noble Industries Inc., (India)
Above are the key players covered in the report, to know about more and exhaustive list of global water soluble packaging films market companies contact, https://www.databridgemarketresearch.com/ko/contact
Research Methodology: Global Water Soluble Packaging Films Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
