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The global Water-Soluble Packaging Market Size is valued at 3.39 billion in 2023 and is predicted to reach 6.06 billion by the year 2031 at an 7.71% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- Packaging composed of biodegradable materials that dissolve in water to leave behind a safe and non-toxic aqueous solution is known as water-soluble packaging. They are a preferred packaging material in many industries due to their improved impact resistance, minimal residue in water solubility, and so on.
- The need for sustainable packaging solutions is expected to drive industry growth.
- North America dominated the market and accounted for a global revenue share in 2023.
- One of the significant concerns restraining industry growth is the consumer awareness and acceptance barriers.
The biological components that create the water-soluble packaging dissolve in water to produce a safe, non-toxic aqueous solution. They are a popular material commonly in various sectors due to their better solubility in water with less residue and strong impact resistance. Due to escalating environmental concerns, green packaging has become more popular in most nations.
The market is gaining popularity as a result of rising transport and energy expenses. Government pressure to switch to eco-friendly materials and wrong customer impressions of conventional packaging have fueled industry expansion. Recently, several companies have adopted water-soluble treatments to lessen their carbon footprint. The global market for water-soluble packaging will also continue to expand due to rising government measures to reduce plastics and the growing focus on single-use plastics.
Water-soluble packaging revenue will rise during the forecast period due to increasing customer demands for natural and organic goods and changes in purchasing habits brought on by growing disposable income. The global market for water-soluble packaging will continue to expand due to rising government measures to reduce plastics, raising single-use plastic awareness, and other factors. During the projection period, there will be an increase in demand for items with organic and natural ingredients and changes in consumption habits brought on by consumers' rising disposable income.
Recent Developments:
- In December 2020, Amcor Ltd. announced steps to dramatically reduce plastic waste in partnership with 35 top consumer goods firms. Amcor and its coalition partners, who collectively have a 1 trillion euro annual revenue, will impose two new design guidelines to produce more recyclable packaging at a lower cost.
- In April 2020, Ball Corporation revealed the five aluminum packaging facilities with the most substantial operational and social sustainability advancements, along with developments in the areas having the most significant sustainability impact across operations, promotion of aluminum packaging sustainability credentials, and involvement in their local communities.
Competitive Landscape:
Some of the major key players in the water-soluble packaging market are:
- Lithey Inc. (India)
- Mondi Group (Austria)
- Sekisui Chemicals (Japan)
- Kuraray Co.Ltd (Japan)
- Mitsubishi Chemicals Holdings (Japan)
- Aquapak Poluymer Ltd (UK)
- Lactips (France)
- Cortec Corporation (US)
- Acedag Ltd. (UK)
- MSD Corporation (China)
- Prodotti Solutions (US)
- JRF Technology LLC (US)
- Amtopak Inc. (US)
Market Segmentation:
The water-soluble packaging market is segmented based on raw materials, end users and packaging type. Based on raw materials, the market is segmented into polymers, surfactants and fiber. By end users, the market is segmented into industrial, food & beverage, pharmaceuticals, agriculture, chemicals, water treatment and residential. Based on packaging type, the market is segmented as bags, pouches, pods & capsules, cold water soluble and hot water soluble.
Based on the end users, the industrial segment is a significant contributor to the water-soluble packaging market
The category for industrial is predicted to experience faster CAGR growth in the forecast period. Most companies are reducing their use of plastic because it takes up more space and produces a lot of waste, which will help chemical industries dominate the global water-soluble packaging market in the future. The need for water-soluble packaging in industrial applications is expected to increase because of the wide range of uses for this type of packaging in many industries, including casual dining, petrochemical, home healthcare and products, and medications. The packaging of instant coffee has increasingly used water-soluble materials in recent years. The safety of employees in agricultural fields is also guaranteed by fertilizer packets made of PVA film.
The pouches segment witnessed growth at a rapid rate
The pouches segment is projected to proliferate in the global water-soluble packaging market. This kind of packaging is meant to provide a which was before the product and offer benefits for environmental safety. A container dissolves quickly at any water temperature and incorporates a heat seal coating. Additionally, heat seal treatment is utilized in packing water-soluble pouches since it enables the substance to be transformed into a pouch. Due to the increased use of water-soluble packaging in numerous chemical industries, pouch compounds are expanding in the global market for water-soluble packaging.
The North American water-soluble packaging market holds a significant revenue share in the region.
The North American water-soluble packaging market is expected to register the highest market share in revenue shortly. The fastest growth in the medicines, food & refreshment, chemicals, and healthcare industries in the US and Canada is primarily to blame for this region's most significant market share. The primary driver of North America's water-soluble packaging market is the growing demand for environmentally friendly packaging choices, accompanied by strict government regulations regarding the usage of single-use plastic. In addition, the Asia Pacific region is anticipated to increase in the global water-soluble packaging market. Governments are also making efforts to encourage the adoption of environmentally friendly packaging in this region.
Water-soluble-Packaging Market Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 3.39 billion |
|
Revenue forecast in 2031 |
USD 6.06 billion |
|
Growth rate CAGR |
CAGR of 7.71% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments covered |
Raw Materials, End Users And Packaging Type |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Lithey Inc. (India), Mondi Group (Ausria), Sekisui Chemicals (Japan), Kuraray Co.Ltd (Japan), Mitsubishi Chemicals Holdings (Japan), Aquapak Poluymer Ltd (UK), Lactips (France, Cortec Corporation (US), Acedag Ltd. (UK, MSD Corportation (China, Prodotti Solutions (US, JRF Technology LLC (US, Amtopak Inc. (US) |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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