Global Water Soluble Packaging Films Market, By Application (Bags, Pouches, Sachets, Others), Raw Materials (Polymers, Surfactants, Fibers), Solubility Type (Hot Water Soluble, Cold Water Soluble), End Use Products (Agriculture Chemicals, Industrial Chemicals, Laundry Detergents, Disinfectants, Water Treatment Chemicals, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
With the increase demand from the pharmaceuticals and food and beverages sector globally, there has been a significant rise in the adoption of water soluble packaging films. These films aid in the protection of industrial workers from coming into direct contact with hazardous materials in the chemical industry, increasing its usage across end users and increasing traction for the market.
Global Water Soluble Packaging Films Market was valued at USD 355.10 million in 2021 and is expected to reach USD 557.49 million by 2029, registering a CAGR of 5.80% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Application (Bags, Pouches, Sachets, Others), Raw Materials (Polymers, Surfactants, Fibers), Solubility Type (Hot Water Soluble, Cold Water Soluble), End Use Products (Agriculture Chemicals, Industrial Chemicals, Laundry Detergents, Disinfectants, Water Treatment Chemicals, Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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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) and Noble Industries Inc., (India)
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Market Opportunities
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Market Definition
Water soluble packaging films come with features that help machinability targets and are extensively used in applications such as sachets, bags, pouches and end user companies prefer water soluble packaging films which generate less waste and lead to minimal downtime during production.
Water Soluble Packaging Films Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Increased Demand across Agricultural Sector
The demand for better crop yield is increasing as the world's population grows, which has increased the focus on crop yield improvement worldwide. Various agrochemicals are used, and depending on the crop type, safer as well as optimal dosage is required. This will help to increase demand for water soluble film packaging because the correct amount of chemical can be packed, making it safe to use because the chemicals can be used directly without removing the packaging water soluble film. Irrigation water can be treated with chemicals to provide essential nutrients to crops. Agriculture chemicals are toxic in nature, causing pollution and endangering living beings' health. As a result, a limited or required quantity in smaller packs can work efficiently while reducing pollution to the environment.
- High Demand for Sustainable Packaging
Sustainable packaging is made from biodegradable materials and helps to reduce environmental damage. Growing public awareness of environmental issues has resulted in increased demand for environmentally friendly packaging and processing operations in both developed and developing countries. Furthermore, the expansion of various industries and factories has increased the demand for a sustainable packaging solution in recent years. Because the packaging industry has the greatest environmental impact, the demand for eco-friendly packaging solutions propels the growth of the water soluble packaging market. Consumers are becoming more concerned with environmental protection, sustainability, ethics, safety, product cost, and quality when purchasing products. As a result, the water soluble packaging films market is projected to have an accelerated growth over the forecast period.
- Expansion of Pharmaceutical Industry
In emerging economies, the pharmaceutical industry is expanding rapidly. Advanced manufacturing processes, technological innovations, and increased company integration have resulted in the industry's rapid growth. The pharmaceutical industry's expansion is propelling the market for water soluble films. The fastest growth is expected in emerging economies such as Brazil, Russia, India, and China. Increasing income levels and growing awareness of the benefits of good healthcare systems and healthier lifestyles are driving market growth in these countries. According to the World Bank, healthcare expenditure in Brazil, China, and India in 2019 was approximately 9.5 percent, 5.1 percent, and 3.5 percent of GDP, respectively, representing a significant increase from 2015.
Furthermore, these films are used to package detergents, agrochemicals, water treatment chemicals, food ingredients, pharmaceutical drugs, and dyes in specific unit doses. Aside from that, the films are used in the production of embroidery and laundry bags.
Opportunities
- Consumer Preference and Government Policies
Furthermore, shift in consumer preference toward eco-friendly packaging and other applications in the agriculture and composting industries further extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the positive attitude of governments on green procurement policies will further expand the future growth of the water soluble packaging films market.
Restraints/Challenges
- High Costs
The high cost of water soluble packaging films is a major impediment to market growth. The water soluble packaging films typically has a production cost that is 60-140 percent higher than conventional plastic films. This is primarily due to the high polymerization cost of biodegradable plastics, as most processes are still in development and have not yet achieved economies of scale. Higher research and development and production costs due to small-scale production, as well as the significant price difference between water soluble packaging films and traditional petroleum-based plastics, are key factors limiting the penetration of water soluble packaging films across various industries.
- Supply Chain Disruptions
With the rising number of restrictions around the globe due to pandemic, there has been a hit in the demand and supply of packaging solutions. Also, the fluctuations in the prices of raw materials will prove to be a demerit for the water soluble packaging films market. As a result, this factor will challenge the water soluble packaging films market growth rate.
This water soluble packaging films market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the water soluble packaging films market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Water Soluble Packaging Films Market
The recent outbreak of coronavirus had an overall negative influence on the water soluble packaging films market. The detergent, water treatment chemicals, pharmaceutical, and food and beverage industries are all heavily reliant on the market. APAC countries had taken early preventive measures, such as social distancing, to halt the virus's spread. Asian countries with the most people are China, India, Bangladesh, Sri Lanka, and Central Asian countries. According to the IMF, the region's GDP growth rate will fall to 0% in 2020. Economic growth will be slow in China, India, and South Korea. China's GDP growth rate is expected to slow by 1.2 percent in 2020.
Recent Development
- In October 2020, Cortec Corporation announced that its patented EcoSol water soluble pouches are now being manufactured at the company's European bioplastics plant in Croatia. This expansion will aim to deliver and meet the needs of European and Asian customers.
- In July 2020, Kuraray opened a new manufacturing facility in Lebanon, Indiana (US). In Indiana, the company now has four factories, including one in LaPorte and two in Portage.
Global Water Soluble Packaging Films Market Scope
The water soluble packaging films market is segmented on the basis of application, raw materials, solubility type and end use products. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Application
- Bags
- Pouches
- Sachets
- Others
Raw Materials
- Polymers
- Surfactants
- Fibers
Solubility Type
- Hot Water Soluble
- Cold Water Soluble
End Use Products
- Agriculture Chemicals
- Industrial Chemicals
- Laundry Detergents
- Disinfectants
- Water Treatment Chemicals
- Others
Water Soluble Packaging Films Market Regional Analysis/Insights
The water soluble packaging films market is analyzed and market size insights and trends are provided by country, material type, form, thickness and end-user industry as referenced above.
The countries covered in the water soluble packaging films market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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. The market growth over this region is attributed to the rising awareness among the people concerning the need for reduction of single-use plastics in the region within the region.
Asia-Pacific, on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the high utilization of water-soluble films in sectors such as pharmaceutical, food packaging, textiles, agriculture, building and construction and others in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Water Soluble Packaging Films Market Share Analysis
The water soluble packaging films market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to water soluble packaging films market.
Some of the major players operating in the water soluble packaging films market are
- 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)
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