Press release
Water-Soluble Packaging Market Exclusive Report on Current Trends and Future Insights
The global Water-Soluble Packaging Market Size is valued at 3.21 billion in 2022 and is predicted to reach 6.06 billion by the year 2031 at an 7.53% CAGR during the forecast period for 2023-2031.
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Packaging that dissolves in water and leaves behind a safe, non-toxic aqueous solution is known as water-soluble packaging. They are a preferred packaging material in several industries because of their improved water solubility, little deposit, and superior impact resistance. The product is being utilized increasingly frequently in end-use sectors, where expanding domestic production and rising consumer income levels are significantly increasing in this industry.
Green packaging has become more prevalent in most nations due to escalating environmental concerns. The market is expanding as a result of rising energy and transport expenses. Public pressure to switch to eco-friendly materials and wrong customer impressions of ensuring consistency have fueled industry expansion. The development of the water-soluble packaging market will be constrained during the inspiration phase due to a lack of regulatory frameworks governing the usage of water-soluble packaging in less developed regions and a lack of knowledge regarding its use in emerging nations.
List of Prominent Players in the Water-Soluble Packaging Market:
• Lithey Inc. (India)
• Mondi Group (Austria)
• Sekisui Chemicals (Japan)
• Kuraray Co.Ltd (Japan)
• Mitsubishi Chemicals Holdings (Japan)
• Aquapak Poluymer Ltd (UK)
• Lactips (France)
• Cortec Corporation (US)
• Acedag Ltd. (UK)
• MSD Corporation (China)
• Prodotti Solutions (US)
• JRF Technology LLC (US)
• Amtopak Inc. (US)
Market Dynamics:
Drivers-
The increasing need for environmentally friendly packaging, the safe use of packaging materials, and rising concerns about environmental safety around the world are the main drivers propelling the growth of the global water-soluble packaging market. The global market for water-soluble packaging will grow due to more businesses using water-soluble packaging and growing sustainability reporting concerns. The demand for environmental food packaging is being driven by strict restrictions, a shrinking packaging industry, and technological advancements in the packaging industry for creating packaging using non-petroleum goods. Cutting-edge goods like edible and water-soluble packaging fuel the market for environmental food packaging.
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Challenges:
The prime challenge is the need for more awareness and commercialization regarding bio-based products in developing countries, which is predicted to reduce the growth of the water-soluble packaging market. However, the high cost of water-soluble packaging and the availability of synthetic chemicals are expected to hamper the overall development of the water-soluble packaging market over the coming years. Owing to the COVID-19 pandemic, the number of cases has been increasing, which led to a global or partial shutdown to maintain social distancing. According to a recent update, the industries are facing unprecedented economic losses due to disruptions in global supply chains for key players operating in the global water-soluble packaging market. Distributors, suppliers and retailers have inventory but can't sell, and manufacturers have to stop production from dealing with the shutdown.
Regional Trends:
The North American water-soluble packaging market is expected to register a significant market share in revenue and is projected to grow at a high CAGR shortly. Attributable to customers' busy schedules and the growing need for snack foods. The popularity of ready-to-eat breakfast foods is rising due to urbanization, everyday life, and increasing disposable money. Besides, Asia Pacific had a substantial market share due to its developed economy and growing product adoption. Attributable to customers' busy schedules and the growing need for convenience foods. The demand for fully prepared breakfast foods is rising due to urbanization, extremely tense, and increasing disposable money.
Recent Developments:
• In December 2020, Amcor Ltd. announced steps to dramatically reduce plastic waste in partnership with 35 top consumer goods firms. Amcor and its coalition partners, who collectively have a 1 trillion euro annual revenue, will impose two new design guidelines to produce more recyclable packaging at a lower cost.
• In April 2020, Ball Corporation revealed the five aluminum packaging facilities with the most substantial operational and social sustainability advancements, along with developments in the areas having the most significant sustainability impact across operations, promotion of aluminum packaging sustainability credentials, and involvement in their local communities.
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Segmentation of Water-Soluble Packaging Market-
By Raw Material
• Polymers
• Surfactants
• Fibers
By End Use
• Industrial
• Food & beverage
• Pharmaceuticals
• Agriculture
• Chemicals
• Water treatment
• Residential
By Packaging Type
• Bags
• Pouches
• Pods & capsules
• Solubility Type
• Cold water soluble
• Hot water Soluble
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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