by Water soluble films have become an important part of various industrial applications such as packaging, coating, and chemical processes owing to its easy peel nature, recyclable feature, and sustainability. Water soluble films are made up of polyvinyl alcohol and find use in food packaging, detergent packaging, agrochemical packaging, and laundry bags. The ability of water soluble films to dissolve completely in cold or warm water makes it suitable for waste management.
The global Water Soluble Films Market is estimated to be valued at US$ 408.14 Mn in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing demand for sustainable packaging from the food packaging industry has been driving the water soluble films market. Water soluble films help reduce plastic waste and are suitable for packaging of items like spices, sauces etc. Their easy dissolution in water allows for simplified disposal of packages without risk of blockages in drain systems. They also help reduce carbon footprint as they eliminate the need for separate waste collection and processing. Furthermore, favorable government regulations around the world for use of eco-friendly packaging are also contributing to the increased demand for water soluble films.
SWOT Analysis
Strength: Water soluble films offer convenience in use as they dissolve in water without leaving behind any waste. This makes them an eco-friendly packaging solution.
Weakness: The cost of producing and processing water soluble films is higher compared to traditional plastics which can limit their mass adoption. These films also have a limited shelf life.
Opportunity: Rising environmental concerns and sustainability initiatives across industries are increasing the demand for biodegradable and soluble packaging materials. Water soluble films can replace many single-use plastic applications.
Threats: Stringent regulations regarding the type of materials approved for food contact applications can impede the growth potential of certain water soluble films. Volatility in raw material prices is also a challenge.
Key Takeaways
The Global Water Soluble Films Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Water Soluble Films Market is estimated to be valued at US$ 408.14 Mn in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030.
The Asia Pacific region currently dominates the global market and is expected to continue its dominance over the forecast period. This is attributed to the rapidly growing packaging, pharmaceutical, and agrochemical industries in countries like China, India and other Southeast Asian countries. North America is another major regional market for water soluble films driven by the stringent regulations favoring sustainable packaging in the US and Canada.
Key players
Key players operating in the water soluble films market are Chattanooga International, Humares , Prime Pacific Health , Herrmann Apparatebau, Transcom, CleanColon Italy, Prometheus Group, Shenzhen Lifotronic Technology, PPHIC, Comba UK, Enteromed Group, Lifotronic, Dotolo Research , TECNO-GAZ. These companies are focusing on new product launches, partnerships and expansions to strengthen their presence in the market. For instance, Lifotronic launched its new biodegradable water soluble pouch for pharmaceutical and nutraceutical packaging applications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
