Water soluble films are primarily used in packaging applications for detergents, agrochemicals, water treatments chemicals, and other cleaners. They are manufactured using various polymers such as polyvinyl alcohol, pullulan, casein, polyvinylpyrrolidone, and hydroxypropyl methylcellulose. These films dissolve rapidly in water offering advantageous features over conventional plastic materials. They can be used as a replacement for blister packs, shrink wraps, and other sealing formats to package water soluble products and unit-dose formulations. Their biodegradable nature poses no harm to the environment.

The global Water Soluble Films Market is estimated to be valued at US$ 470.18 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the water soluble films market is the growing demand from the pharmaceutical industry. Water soluble films are widely used in the packaging of tablets, capsules, oral disintegrating films, and sachets. They provide protection from moisture and ensure product stability during transportation and storage. Their single-dose format also supports patient compliance. Many pharmaceutical companies are focusing on utilizing water soluble films for unit-dose packaging as against traditional blisters due to their cost-effectiveness and sustainability benefits. The availability of customized film coating in terms of thickness and dissolution rate as per product requirement further drives their adoption in the pharmaceuticals sector.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is low as water soluble films require significant R&D investment for technological know-how and certifications. Significant capital is also required to build manufacturing capacity.

Bargaining power of buyers: The bargaining power of buyers is moderate as there are a few large buyers in end use industries like food and pharma. However, buyers have alternatives like plastic films which limit their bargaining power.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials like PVA and other polymers have some substitutes. However, suppliers still have some control over prices.

Threat of new substitutes: The threat of new substitutes is low as water soluble films have properties better than alternatives like plastic films. Significant R&D is required to develop new substitutes.

Competitive rivalry: The competitive rivalry is high amongst global players. Players compete based on product quality, pricing and customer service.

Key Takeaways

The Global Water Soluble Films Market Demand is estimated to be valued at US$ 470.18 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024 to 2031.

Regional analysis Asia Pacific dominates the global market and is expected to maintain its lead position over the forecast period. This can be attributed to high consumption in packaging applications in countries like China, India etc.

Key players operating in the water soluble films market are Givaudan SA, International Flavors & Fragrances Inc., Firmenich SA, Symrise AG, Takasago International Corporation, Sensient Technologies Corporation, T. Hasegawa Co., Ltd.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it