The water-soluble market is estimated to be valued at USD 2.8 billion in 2019 and is projected to reach USD 3.7 billion by 2025, recording a CAGR of 5.0% during the forecast period. The increasing demand for sustainable and green packaging drives the market growth for water-soluble packaging.
Key players in this market include Lithey Inc. (India), Mondi Group (Austria), Sekisui Chemicals (Japan), Kuraray Co. Ltd. (Japan), Mitsubishi Chemical Holdings (Japan), Aicello Corporation (Japan), Aquapak Polymer Ltd (UK), Lactips (France), Cortec Corporation (US), Acedag Ltd. (UK), MSD Corporation (China), Prodotti Solutions (US), JRF Technology LLC (US), and Amtopak Inc. (US).
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Kuraray Co. Ltd (Japan) is a key supplier, offering products in categories such as resins, chemicals, fibers, and textiles based on polymer and synthetic technologies. Its operations focus on becoming a specialty chemical company, which is growing sustainably by incorporating new foundational platforms into its own technologies. It is pursuing competitive superiority by creating new demand and by developing high-value-added and customized products and applications such as transfer printing technologies and dust abatement technologies based on client requirements. MonoSol, a subsidiary of Kuraray Co. Ltd., led the way with its unit dose technology, collaborating with marketers to develop laundry detergent products and created a new product category, water-soluble film-packaged products in the detergent industry. It encapsulates laundry and dishwasher pods or packs, which would eliminate the need to pour and measure liquids or powders.
In 2018, the company established a water-soluble film manufacturing facility in Indiana, US. The development helped the company to strengthen its market position in the US.
Aquapak Polymer Ltd (UK) is a privately held company headquartered in Birmingham and one of the leading developers, manufacturers, and distributors of biodegradable and marine safe polymer films for packaging. The company works in collaboration with the brands and retailers, and packaging manufacturers to design circular economy solutions to replace single-use plastic packaging.
Aquapak Polymer Ltd. offers polymer-based products under the brand, Hydropol. Product is categorized as water-soluble, stable & storable, heat-sealable, electrostatic-resistant, and ultraviolet-resistant.
In October 2019, the company launched garment packaging bags made from Aquapak polymer Ltd. in collaboration with Finisterre (UK), a garment company . The company aims to replace traditional packaging with soluble packaging.
Water soluble Packaging Market by Raw Material (Polymer, Surfactant, and Fiber), End Use (Industrial, and Residential), Solubility Type (Cold Water Soluble and Hot Water Soluble), Packaging Type, and Region - Global Forecast to 2025
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