The rising application of water-soluble packaging in multiple industries and the growing environmental and sustainability concerns led to a surge in demand for biodegradable packaging.
A holistic view of the industry from 2020 to 2028 as a forecast era, including factors such as market drivers, constraints, opportunities, threats and regulatory overview, is presented by the Adroit Market Research report on the global market for water soluble packaging. From 2018 to 2028, the demand was evaluated, with a base year forecast for 2019 and a prediction for 2020 to 2028. The study covers the current market status and future characteristics, both at the global and national level. Moreover, with Porter's analysis of five strengths, the study also assesses market competition and positions leading players on the basis of their product portfolio, geographic presence, strategic initiatives and overall sales. Prominent players in the global market for composite resins have been extensively analyzed.
The market is projected to reach USD 3.7 billion by 2025. The North American region's water-soluble packaging market is primarily driven by increasing consumer understanding of environmental sustainability. One of the important problems faced in developing and developed countries is packaging waste. In addition, the government's participation in California's new legislation for a 75 percent reduction in plastic waste by 2030 also enables producers to move their interest towards water-soluble packaging. Strong R&D investments and technological developments (such as barrier safety and enhanced tensile strength) are expected to have a positive effect on North America's domestic water-soluble packaging production.
Demand for water-soluble packaging is growing significantly due to the associated benefits, especially in industries where hazardous chemicals need to be dealt with by employees. In order to prevent direct contact, packaging will provide employees with a safer alternative for handling such chemicals. Most companies avoid the use of plastics because it produces a lot of waste, needs a large room to store those plastics, and there is a large amount of disposal expense. The use of water-soluble material for packaging instead contributes to lower labour costs in cleaning and allows the production process more sustainable.
The key players in this market include Kuraray Co. Ltd (Japan), Aicello Corporation (Japan), Cortec Corporation (US), Mondi Group (Austria), Sekisui Chemicals (Japan), Aquapak Polymer Ltd. (UK), and Mitsubishi Chemicals Holdings (Japan).
Key Segments of the Global Water-Soluble Packaging Market
Material Overview, 2018-2028 (USD Million) (Kilo Tons)
End-use Method, 2018-2028 (USD Million) (Kilo Tons)
Solubility type 2018-2028 (USD Million) (Kilo Tons)
- Cold water soluble
- Hot water soluble
Regional Overview, 2018-2028 (USD Million) (Kilo Tons)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America