Water Soluble Films Market by Type (Cold, Hot), Application (Detergent Packaging, Agrochemical Packaging, Water Treatment Chemical Packaging, Dye Packaging, Food Packaging, Laundry Bags, Embroidery, Pharmaceutical) - Global Forecast to 2029
Water Soluble Films Market
The global water soluble films market is valued at USD 441.8 million in 2024 and is projected to reach USD 586.4 million by 2029, growing at 5.8% cagr from 2024 to 2029. One of the major reasons for a positive outlook for the water soluble films market is the mounting demand for sustainable packaging, shifting consumer preferences, and the need for convenient ready-to-eat foods. The market for water soluble films is growing as a result of regulatory factors as well. Stricter laws are being enacted globally by governments and regulatory organizations with the goal of decreasing plastic waste and encouraging the usage of biodegradable materials. Manufacturers are thus required to use environmentally friendly packaging options, such as water soluble films, to ensure adherence to the regulations. These factors contribute to the dynamic and evolving nature of the market.
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Water Soluble Films Market Dynamics
Driver: Growing demand for convenience food items
The rising demand for convenience food items is boosting the water soluble films market due to several factors. This is also indicative of a shift in customer preferences toward quick-to-prepare, on-the-go food solutions. The ease of preparation and consumption of convenience food items, such as pre-packaged meals, snacks, and single-serve foods, has led to their growing popularity. The increasing emphasis on convenience and time-saving solutions, urbanization, and fast-paced lifestyles are the main reasons for the rising demand. This shift is having an impact on research in advancements in packaging materials as manufacturers make efforts to develop solutions that meet these changing consumer desires. Convenience foods can be preserved for longer periods while maintaining freshness and quality by using water soluble films that are designed to offer protection from oxygen and moisture.
Restraints: Increasing overall packaging costs owing to dynamic regulatory policies
The market for water soluble films is restricted due to the increasing overall packaging costs owing to dynamic regulatory policies. Manufacturers need to invest in research & development to continuously upgrade their products in accordance with the evolving laws, especially as there is a growing emphasis on minimizing the carbon footprint and improving biodegradability. Significant capital expenditure is required for these constant modifications, which can be very costly, particularly for smaller firms. These modifications have to be made at a cost, which is frequently transferred down the supply chain to increase the cost of water soluble films and the goods for which these are used. These factors add to the increase in the total packaging costs, which makes it difficult for manufacturers to produce water soluble films at reasonable prices.
Opportunities: Development of new applications
The market for water soluble films offers enormous potential for expansion because of the development of new applications. A key factor influencing the creation of new applications for water soluble films is environmental sustainability. Conventional plastics have a major role in waste generation and environmental damage as they do not entirely decompose after use. However, water soluble films offer a sustainable substitute while also having a smaller environmental impact and low strain on waste management systems. The development of biodegradable film coatings for agricultural products is one of the new applications in this field that can aid in reducing plastic waste in farming operations. Research is also being undertaken on their application in the production of environmentally friendly detergents and cleaning goods. The films can be used as carriers for concentrated cleaning ingredients that dissolve in water, which reduces the amount of packaging waste.
Challenges: Production complexities of water soluble films
The manufacture of water soluble films is a highly complex procedure due to the numerous steps involved in achieving the best possible quality and results. To obtain the appropriate solubility and functionality, these films, which primarily are made with the use of polyvinyl alcohol (PVA), require precise control over several parameters. The primary challenge is striking a balance between the production and formulation parameters to create a film that satisfies the exacting standards of strength, durability, and solubility. Proper control over temperature, humidity, and mixing times is necessary for manufacturers to develop water soluble films. The solubility rate and mechanical strength of the film are two of the ultimate qualities that are influenced by each of these factors. Furthermore, there are new difficulties brought on by the process of expanding manufacturing from the lab to the commercial scale. Larger-scale variables such as material handling and process stability make it harder to maintain consistency.
Water Soluble Films Market Ecosystem
Prominent companies in this market include well-established, financially stable manufacturers of water soluble films. These companies have been in the business for a long time and offer a broad range of products, cutting-edge technologies, and robust international sales and marketing networks. Prominent companies in this market include Mitsubishi Chemical Group Corporation (Japan), SEKISUI CHEMICAL CO., LTD. (Japan), KURARAY CO., LTD. (Japan), AICELLO CORPORATION (Japan), Ecopol S.p.A. (Italy), Arrow GreenTech Ltd. (India), Cortec Corporation (US), Changzhou Greencradleland Macromolecule Materials Co., Ltd. (China), Jiangmen Proudly Water-soluble Plastic Co., Ltd. (China), AMC (UK) Ltd. (UK), and Noble Industries (India).
Based on type, the cold water soluble films segment is projected to register the highest CAGR in the water soluble films market, in terms of value, during the forecast period.
The cold water soluble films segment is projected to witness the highest CAGR in the water soluble films market during the forecast period. The environmental advantages of cold water soluble films also play a major role in market growth. Demand for environmentally friendly packaging solutions is rising as environmental concerns increase. As these films do not need heating and help lower the product's carbon footprint, using cold water soluble films for packaging helps save energy. This is in line with the wider trend toward sustainability, as companies and customers are looking for methods that minimize their impact on the environment.
Based on application, the laundry bags segment is projected to witness the highest CAGR in the water soluble films market, in terms of value, in 2023.
The laundry bags segment is projected to witness the highest CAGR in the water soluble films market, in terms of value, during the forecast period. An important factor contributing to the estimated rise in the market for water soluble laundry bags is the increased focus on hygiene in healthcare facilities. The growing number of healthcare facilities across the world is a noteworthy factor propelling the increasing need for laundry bags. The demand for water soluble laundry bags is rising because of this expansion, which also increases the need for sanitary and efficient laundry solutions.
North America is projected to be the largest market for the water soluble films market, in terms of value, during the forecast period.
North America holds the position as the largest consumer of water soluble films. North America's sophisticated technological infrastructure is one of the main factors contributing to the region's dominance in the water soluble films market. High-performance water soluble films with improved qualities, such as better solubility, tensile strength, and compatibility with various product formulations, have been created using these technological benefits. The region's ability to manufacture and sell water soluble films on a large scale is further reinforced by the existence of well-established production facilities and a highly skilled workforce.
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Water Soluble Films Market Players
Mitsubishi Chemical Group Corporation (Japan), SEKISUI CHEMICAL CO., LTD. (Japan), KURARAY CO., LTD. (Japan), AICELLO CORPORATION (Japan), Ecopol S.p.A. (Italy), Arrow GreenTech Ltd. (India), Cortec Corporation (US), Changzhou Greencradleland Macromolecule Materials Co., Ltd. (China), Jiangmen Proudly Water-soluble Plastic Co., Ltd. (China), AMC (UK) Ltd. (UK), and Noble Industries (India) are the key manufacturers that secured major market share in the last few years.
Water Soluble Films Market Scope
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Report Metric |
Details |
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Years considered for the study |
2018–2029 |
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Base year considered |
2023 |
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Forecast period |
2024–2029 |
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Units considered |
Value (USD Thousand) |
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Segments covered |
Type, Application, and Region |
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Regions covered |
North America, Asia Pacific, Europe, Middle East & Africa, and South America |
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Companies profiled |
The key players profiled in the report include Mitsubishi Chemical Group Corporation (Japan), SEKISUI CHEMICAL CO., LTD. (Japan), KURARAY CO., LTD. (Japan), AICELLO CORPORATION (Japan), Ecopol S.p.A. (Italy), Arrow GreenTech Ltd. (India), Cortec Corporation (US), Changzhou Greencradleland Macromolecule Materials Co., Ltd. (China), Jiangmen Proudly Water-soluble Plastic Co., Ltd. (China), AMC (UK) Ltd. (UK), and Noble Industries (India).
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This report categorizes the global water soluble films Market based on type, application, and region.
Based on type, the water soluble films Market has been segmented as follows:
- Cold Water Soluble Films
- Hot Water Soluble Films
Based on application, the water soluble films Market has been segmented as follows:
- Detergent Packaging
- Agrochemical Packaging
- Water Treatment Chemical Packaging
- Dye Packaging
- Laundry Bags
- Embroidery
- Food Packaging
- Pharmaceutical
- Other Applications
- Water transfer printing
- Mold release
- Pet waste bags
- Fish bait bags
Based on region, the water soluble films Market has been segmented as follows:
- North America
- Europe
- Asia Pacific
- Middle East & Arica
- South America
Recent Developments
- In October 2023, Ecopol S.p.A. opened its new production facility in Griffin, Georgia, to cater to the unit-dose home care industry in North America.
- In September 2023, A strategic investment in Ecopol S.p.A., the developer and manufacturer of biodegradable films, was completed by the US-based private investor SK Capital Partners through its affiliates to grow in its current end markets and take advantage of its fundamental expertise in the biodegradable film technology to penetrate new industries.
- In July 2020, KURARAY CO., LTD. inaugurated a new production facility in Lebanon, Indiana (US). The company now has four factories in Indiana, including one in LaPorte and two in Portage.
Frequently Asked Questions (FAQ):
Which are the major players in the water soluble films market?
The key players profiled in the report include Mitsubishi Chemical Group Corporation (Japan), SEKISUI CHEMICAL CO., LTD. (Japan), KURARAY CO., LTD. (Japan), AICELLO CORPORATION (Japan), Ecopol S.p.A. (Italy), Arrow GreenTech Ltd. (India), Cortec Corporation (US), Changzhou Greencradleland Macromolecule Materials Co., Ltd. (China), Jiangmen Proudly Water-soluble Plastic Co., Ltd. (China), AMC (UK) Ltd. (UK), and Noble Industries (India).
What are the drivers and opportunities for the water soluble films market?
Rising demand for convenience food items, growing pharmaceutical industry in emerging economies, increased demand from the agricultural industry, edible water soluble films, and the development of new applications are the major drivers and opportunities for this market.
What are the various strategies key players are focusing upon in the water soluble films market?
Expansions and partnerships are some of the strategies adopted by the key players to expand their global presence.
What is the CAGR at which the water soluble films market is projected to grow?
The market is projected to grow at a CAGR of 5.8% in terms of value, during the forecast period.
What are the major factors restraining water soluble films market growth during the forecast period?
Higher cost of water soluble films compared to traditional plastic films and increasing overall packaging costs owing to the dynamic regulatory policies are expected to restrict market demand. .
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The study involved four major activities in estimating the market size for water soluble films market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
Secondary Research
Secondary sources used in this study included annual reports, press releases, and investor presentations of companies; white papers; certified publications; articles from recognized authors; and gold standard & silver standard websites such as Factiva, ICIS, Bloomberg, and others. The findings of this study were verified through primary research by conducting extensive interviews with key officials such as CEOs, VPs, directors, and other executives. The breakdown of profiles of the primary interviewees is illustrated in the figure below:
Primary Research
The water soluble films market comprises several stakeholders, such as raw material suppliers, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized from key opinion leaders in various applications for the water soluble films market. The supply side is characterized by advancements in technology and diverse application industries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
Breakdown of Primary Participants
Note: Tier 1, Tier 2, and Tier 3 companies are classified based on their market revenue in 2022/ 2023, available in the public domain, product portfolios, and geographical presence.
Other designations include consultants and sales, marketing, and procurement managers.
To know about the assumptions considered for the study, download the pdf brochure
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COMPANY NAME |
DESIGNATION |
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Mitsubishi Chemical Group Corporation |
Senior Manager |
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SEKISUI CHEMICAL CO., LTD. |
Innovation Manager |
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KURARAY CO., LTD. |
Vice-President |
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AICELLO CORPORATION |
Production Supervisor |
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Ecopol S.p.A. |
Sales Manager |
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the water soluble films market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry have been identified through extensive secondary research.
- The supply chain of the industry has been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
- All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
Water soluble films Market: Bottom-Up Approach
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Water soluble films Market: Top-Down Approach
Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the water soluble films industry.
Market Definition
Water soluble films are biodegradable films made of polyvinyl alcohol (PVA/PVOH) and are used for packaging of detergents, agrochemicals, water treatment chemicals, disinfectants, and dyes, laundry bag production and in embroidery. Due to its water soluble property, they are widely used for water soluble small dose packaging of detergents, agrochemicals, water treatment chemicals, dyes, and food products. Apart from these applications, water soluble films are used in embroidery and laundry bag manufacturing. Water soluble films disintegrate and dissolve in water and do not leave any harmful residue.
Key Stakeholders
- Water soluble films manufacturers
- Water soluble films suppliers
- Raw material suppliers
- Service providers
- Application sector companies
- Government bodies
Report Objectives
- To define, describe, and forecast the water soluble films market in terms of value
- To provide detailed information regarding the drivers, opportunities, restraints, and challenges influencing market growth
- To estimate and forecast the market size by ingredient type, application, and region
- To forecast the size of the market for five main regions: North America, Europe, Asia Pacific, South America, and the Middle East & Africa, along with their key countries
- To strategically analyze micromarkets1 with respect to their growth trends, prospects, and contribution to the overall market
- To analyze opportunities in the market for stakeholders and provide a competitive landscape for market leaders
- To analyze competitive developments, such as deals and expansions, in the market
- To analyze the impact of the recession on the market
- To analyze the impact of COVID-19 on the market and end-use industries
- To strategically profile key players and comprehensively analyze their growth strategies
Available Customizations
Along with the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Regional Analysis
- Further breakdown of a region with respect to a particular country or additional application
Company Information
- Detailed analysis and profiles of additional market players (up to five)
Generating Response ...
Growth opportunities and latent adjacency in Water Soluble Films Market