InsightAce Analytic Pvt. Ltd. has released a market assessment report on the “Global Water-Soluble Packaging Size, Share & Trends Analysis Report By Raw Materials (Polymers, Surfactants And Fiber), End Users (Industrial, Food & Beverage, Pharmaceuticals, Agriculture, Chemicals, Water Treatment And Residential) And Packaging Type (Bags, Pouches, Pods & Capsules, Cold Water Soluble And Hot Water Soluble) – Market Outlook And Industry Analysis 2031.” Read More Business News on our website.
What is Water Soluble Packaging? How much growth it will reach in upcoming years
According to the report, the global water-soluble packaging market is projected to reach USD 6.06 billion by 2031, with a CAGR of 7.53% during the forecast period. Water soluble packaging pertains to packaging materials that have the ability to dissolve in water, resulting in a safe and non-toxic aqueous solution. It is increasingly favored in various industries due to its enhanced water solubility, minimal residue, and excellent impact resistance. The product’s usage is growing in end-use sectors, particularly in regions with expanding domestic production and rising consumer income levels.
The market for green packaging is witnessing significant growth worldwide due to mounting environmental concerns. Factors such as rising energy and transportation costs, public pressure to adopt eco-friendly materials, and consumer perception regarding quality assurance have contributed to the expansion of the water-soluble packaging industry. However, the lack of regulatory frameworks governing water-soluble packaging usage in less developed regions and limited awareness in emerging nations might pose limitations during the initial stages of market development.
The companies included in the list are Lithey Inc. from India, Mondi Group from Austria, Sekisui Chemicals from Japan, Kuraray Co. Ltd from Japan, Mitsubishi Chemicals Holdings from Japan, Aquapak Polymer Ltd from the UK, Lactips from France, Cortec Corporation from the US, Acedag Ltd. From the UK, MSD Corporation from China, Prodotti Solutions from the US, JRF Technology LLC from the US, and Amtopak Inc. from the US.
Market drivers include the growing demand for environmentally friendly and safe packaging materials, increasing awareness of environmental safety, and a rise in sustainability reporting concerns. The market for water-soluble packaging is boosted by businesses adopting such packaging materials and the demand for eco-friendly food packaging due to stringent regulations, the shrinking packaging industry, and advancements in creating packaging from non-petroleum sources, including edible and water-soluble packaging.
Challenges faced by the water-soluble packaging market involve the need for greater awareness and commercialization of bio-based products in developing countries, which might hinder market growth. Moreover, the market’s overall progress is expected to be hindered by the elevated expenses associated with water-soluble packaging and the accessibility of synthetic chemicals. The COVID-19 pandemic has also led to economic disruptions, affecting global supply chains for key players in the water-soluble packaging market.
Regionally, the North American market is expected to hold a significant share in revenue and experience high growth, driven by busy lifestyles and growing demand for snack foods. In Asia Pacific, the market is also substantial due to its developed economy and increasing product adoption, fueled by busy schedules and the need for convenience foods. The report concludes with recent developments in the industry, such as steps taken by Amcor Ltd. to reduce plastic waste in collaboration with consumer goods firms and sustainability advancements by Ball Corporation in aluminum packaging facilities.