Water-Soluble Packaging Market: A Sustainable Solution for a Greener Future

Water-Soluble Packaging Market to reach over USD 6.06 billion by the year 2031 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of 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"

The global water-soluble packaging market is estimated to reach over USD 6.06 billion by 2031, exhibiting a CAGR of 7.53% during the forecast period.

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Water-soluble packaging dissolves in water and yields a safe, non-toxic aqueous solution. Their enhanced water solubility, low deposit, and better impact resistance make them a favoured packaging material in several sectors. The product is being used increasingly in end-use sectors, where the industry is witnessing a significant increase due to rising consumer income levels and expanding domestic output.

Growing environmental concerns have led to increased use of green packaging in most countries. Rising energy and transportation costs are driving market expansion. The sector has expanded due to incorrect client perceptions about consistency and public pressure to use eco-friendly products. The absence of legal frameworks governing the use of water-soluble packaging in less developed regions and a lack of awareness regarding its use in emerging nations will limit the market growth for this type of packaging during the inspiration phase.

List of Prominent Players in the Water-Soluble Packaging Market:

• Prodotti Solutions (US)
• JRF Technology LLC (US)
• Amtopak Inc. (US)
• 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)

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.

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.

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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.

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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This release was published on openPR.