Water Soluble Packaging Market

Water Soluble Packaging Market Size, Growth (2023-2028)

The Global Water Soluble Packaging Market is estimated to grow significantly for future generations. In 2022, the value of the Water Soluble packaging market was about USD 2.9 Billion, and it is expected to rise to USD 3.7 Billion by 2028, recording the CAGR of 5%.

Market Overview:

Water Soluble packaging is a technology where the packages are believed to be biodegradable. The eco-friendly factor is one of the reasons for the development of this technology. The rise in demand for Water Soluble packages is attributed to the increase in the application of this packaging in various industries. Also, upsurge in the awareness of environmental and sustainability concerns because of pollution is one of the fuelling terms for the growth of the global Water Soluble packaging market.

Recent Developments:

• Mondi Plc., an international company based in Johannesburg, London, has partnered with Unilever, another London based company, to develop a Water Soluble packaging solution. Mondi Kalenobels' key account manager Cuneyt Kursi said that they drive customer-centric approach at Mondi, eco-solutions where they work with their customers to understand their sustainability goals and deliver packaging that is sustainable by design
• Finisterre, an outdoor apparel company that designs functional and sustainable products collaborated with Aquapak Polymer, a company that develops innovative new polymer packaging technologies for the circular economy. The collaboration of these companies was attributed to the commitment made by Fineterre to eradicate single-use, non-degradable plastic in 2018, believing that 'single-use is no use'. Aquapak will develop an alternative to traditional, hydrophobic plastic packaging that gives all the functionality of widely-used plastic while addressing the concerns they bring.
• Perdue Farms, the parent company of Perdue Foods and Perdue AgriBusiness, based Salisbury, Maryland, chooses dissolvable foam for e-commerce packaging. Perdue Farms sells meat like chicken and others. But, when the company recently launched an e-commerce channel, it turned to plant-based foam to boost its sustainable packaging game. KTM Industries Inc. supplies these packages to Perdue with the industrial material called green cell foam.
• Aquapak Polymers Ltd., is seeking the US Laundry bag manufacturers who want to add an eco, no toxic and marine-safe alternative to their range of laundry bags. Aquapak already has an established market for eco laundry bags in Australia, which are having applications in hospitals and hotels to carry dirty or contaminated laundry.

REPORT COVERAGE:

Drivers and Restraints of the Water Soluble Packaging market:

The growing demand for Water Soluble films and their increasing utilization as a sustainable and eco-friendly packaging material is driving the growth of the Water Soluble packaging market. And the features and ease of usage are comforting the manufacturers to adopt them in the workplace, for instance, they allow detergent manufacturers to offer single-use packs which help in preventing wastage, spillage and overdosing by the end-user. And in chemical industries, these Water Soluble films help in protecting the industrial workers for coming into direct contact with the hazardous material.

The growing awareness about environmental concerns across the globe with the usage of plastic packages is one of the main reasons for the growth of the Water Soluble packaging market. These Water Soluble packaging technologies are making people that think that they are safe when compared to plastic packaging because of non-biodegradability. The lifecycle of these Water Soluble packages and the feel of eco-friendly on the people when using them are one of the prime drivers of the increase in the net worth of the Water Soluble packing market in the future.

However, the lack of awareness and proper government regulations for the ban of plastic will act as deterrents for the expansion of this industry.

Water Soluble Packaging Market Segmentation Analysis:

Raw Material

• Polymers
• Surfactants
• Fibers

End-Use

• Industrial
• Food & beverages
• Pharmaceuticals
• Agriculture
• Chemicals
• Water treatment
• Residential

Packaging Type

• Bags
• Pouches
• Pods & capsules

Solubility Type

• Cold water soluble
• Hot water soluble

In the raw material segmentation, the polymer segment has accounted for the larger share in 2020 because of the usage of them, such as polyvinyl alcohol in the manufacturing of packaging. Due to the wide range of applications that polymers have and with higher availability of sources such as petrochemicals and starch(plants), the polymer segment has achieved a significant share in the Water Soluble packaging industry.

By the end-user, the industrial segment is estimated to fuel the growth of the Water Soluble packaging market in the forecast period with a wide range of applications. The associated benefits that these Water Soluble films and packages have for the industrial workers in chemical industries who work with hazardous chemicals such as to avoid direct contact with these chemicals and others are one of the main reasons for the rising demand for these packages. Also, the growth in the usage of these Water Soluble packages in industries like food and beverages is estimated to increase and so as the market.

Water soluble packaging market Region wise analysis:

By Region

• North America
• Europe
• Asia Pacific
• South America
• Rest of the World (RoW)

In the regional segmentation, North America is holding a significant share in the Water Soluble packaging market. Due to the awareness among the people about pollution because of the plastic wastage and the governments' commitments to eradicate the plastic usage are the major forces that drive the growth of the regional Water Soluble market. The involvement of the government legislature of California for a 75% reduction in plastic wastage by 2030 also encourages the manufacturers to adopt these packaging techniques for the forecast period.

Meanwhile, Asia-Pacific is projected to witness significant growth in the share of Water Soluble packaging market because of the increase in population and the rising number of industries in countries like India, China, etc., And also, presence of the more number of Water Soluble packaging solutions and manufacturers is one of the reasons for the growth of Water Soluble packaging business in this region.

Key Players in the Market:

Major Key Players in the Water Soluble Packaging Market are

• Mondi Group
• Lithey Inc
• Sekisui Chemicals
• Kuraray Co. Ltd.
• Mitsubushi Chemical Holdings
• Aicello Corporation
• Aquapak Polymer Ltd.
• Lactips
• Cortec Corporation
• Acedag Ltd.
• MSD Corporation
• Prodotti Solutions
• JRF Technologies LLC.
• Amtopak Inc.
• Watson Inc.