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Water Soluble Packaging Market to Accelerate at a Rapid CAGR of 5.1% by 2027
Water Soluble Packaging Market, by Raw Material – 2018 and 2027
The water soluble packaging market was valued at US$ 2,751.00 million in 2018 and is projected to reach US$ 4,295.57 million by 2027; it is expected to grow at a CAGR of 5.1% from 2019 to 2027.
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The global water soluble packaging market is concentrated with a few well-established players, such as Amtopack, Inc., Changzhou Kelin PVA Water Soluble Films Co., Ltd, Cortec Corporation, Harke Group, Jiangmen Cinch Packaging Materials Co., Ltd, Kuraray Co., Ltd, Mitsubishi Chemical Corporation, Mondi Group, Sekisui Chemical Co., Ltd, and SmartSolve Industries.
The demand for water soluble packaging has surged in the personal care and cosmetics industry. The personal care and cosmetic product manufacturers are improving their product portfolio and introducing natural as well as organic products to attract new customers. Organic cosmetics are produced with the help of organically farmed ingredients. Such ingredients are cultivated without use of genetically modified organisms (GMO), herbicides, synthetic fertilizers, and other harmful chemicals. Such cosmetics are produced from ingredients that are organically certified by the authorized institutions operating internationally. These cosmetics product manufacturers use the best natural component of plants and flowers, which are good for skin health.
As the demand for organic personal care and cosmetics products is rising, manufacturers are looking forward to a sustainable type of packaging solutions such as water soluble pods. For instance, several manufacturers produce personal care products such as shampoo and body wash in the form of water soluble drops, which are organically certified under authorized institutions. Also, cosmetic companies are involving in strategic partnerships with packaging vendors to develop cost-effective and sustainable packaging solutions for their products. Through an effective research and development strategy, manufacturers are diversifying the use of water soluble pods in the packaging of different types of organic cosmetics.
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The recent COVID-19 outbreak, which first began in Wuhan (China) in December 2019, has spread at a fast pace worldwide. As of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst-hit countries in terms confirmed cases and reported deaths. The COVID-19 pandemic has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global chemicals and materials industry is one of the major industries that are suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns.
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