Global Water Soluble Packaging Market Forecast and Segment Growth Analysis 2024-2032

The global water soluble packaging market was valued at USD 3.61 billion in 2023 and is projected to grow from USD 3.78 billion in 2024 to USD 5.65 billion by 2032, exhibiting a CAGR of 5.13% during the forecast period. Water soluble packaging technology renders packages biodegradable as these materials dissolve completely in water without leaving any residue. Increasing environmental awareness drives the adoption of biodegradable materials such as polysaccharide protein-based films. This meets consumer demand for eco-friendly packaging options and propels market expansion.

Fortune Business Insights™ provides this information in its research report, titled “Water Soluble Packaging Market, 2024-2032”.

Segmentation:

Polymer Segment Segment Dominates owing to Exceptional Compatibility

In terms of material, the market is segmented into polymers {Polyvinyl Acetate, Polyvinyl Alcohol}, surfactants, and fibers. The polymers segment holds the largest water soluble packaging market share. Polymers exhibit compatibility with diverse product ingredients, including enzymes and aggressive chemicals, making them suitable for various applications, thus boosting segment growth.

Films Segment to Lead the Market Owing to its Ability to Provide Convenient Solution

In terms of product type, the market is fragmented into pouches, sachets, films, bags, and pods & capsules. Films capture the largest share of the market. Water soluble films eliminate the need to handle potentially harmful substances and provide convenient solutions for single-use products such as laundry or dishwasher pods, enhancing their demand and driving segment growth.

In terms of temperature, the market for water soluble packaging is fragmented into cold water and hot water. The hot water segment secures the largest share of the market. With applications spanning in laundry detergents, cleaning agents, and dishwashing detergents, fueling the segment growth.

By end-use industry, the market is divided into food, healthcare, agriculture, household, water treatment, building & construction, and others. The households segment captures the largest share in the end-use industry segment. The convenience offered by water-soluble packaging in household products such as laundry detergent pods and cleaning solutions drives its adoption among households, leading to segment growth.

In terms of region, the market is categorized into Europe, North America, the Asia Pacific, Latin America, and the Middle East & Africa.

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Report Coverage:

The report offers comprehensive market analysis, covering leading companies, competitive landscape, product/service types, and market shares, along with key application insights and industry trends.

Drivers and Restraints:

Surge in Demand for Water Soluble Films with Sustainable Factors to Boost Market Growth

Heightened environmental concerns worldwide are fostering a growing demand for eco-friendly packaging solutions such as water-soluble films, stimulating water soluble packaging market growth. The user-friendly features of water-soluble packaging, such as ease of use and convenience, appeal to manufacturers. They facilitate the production of single-use packs, preventing wastage and spillage among end-users, thus driving market expansion.

However, the elevated cost of water-soluble packaging, exacerbated by fluctuations in raw material prices, presents significant challenges, limiting the affordability for consumers.

Regional Insights:

Asia Pacific Dominates the Market Owing to Government Initiatives for Plastic Reduction

The Asia Pacific region leads the market due to stringent governmental regulations focused on reducing plastic packaging usage. These regulations drive demand for sustainable alternatives such as water soluble packaging, contributing significantly to market growth.

Stringent regulatory measures coupled with growing consumer awareness of the environmental impact of traditional packaging materials serve as primary drivers propelling growth in the North America.

Trends Shaping the Market:

Growth in E-commerce: As e-commerce grows, demand for sustainable packaging solutions, including WSP, is rising to reduce the environmental impact of large-scale shipping and packaging waste.
Innovation in Materials: Companies are investing in R&D to develop improved biodegradable materials with enhanced strength, durability, and cost-effectiveness for WSP applications.
Increasing Consumer Awareness: Consumers are becoming more conscious of their environmental footprint, and demand for products with sustainable packaging is rising, putting pressure on industries to adopt WSP.
Shift Toward Zero-Waste Packaging: With the zero-waste movement gaining momentum, WSP is positioned as a key solution for brands aiming to meet consumer demands for minimal waste.

Competitive Landscape:

Key Industry Participants Focus on Expansion and Innovation to Strengthen their Market Presence

The global water soluble packaging market is highly competitive, with major players dominating through innovative solutions and a focus on expansion and innovation. Leaders such as Mondi, Sekisui Chemicals, Kuraray Co. Ltd., and others drive market dynamics while numerous smaller players contribute to advancements with advanced packaging solutions.

Key Industry Development:

June 2023- Mondi introduced SolmixBag, a water-soluble paper bag for the construction industry, designed to dissolve upon contact with water during the mixing process, integrating with dry construction materials.

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List of Key Players Mentioned in the Report:

Mondi (U.K.)
Sekisui Chemicals (Japan)
Kuraray Co. Ltd. (Japan)
Cortec Corporation (U.S.)
Arrow Greentech Ltd. (India)
Shandong Huazhilin Pharmaceutical Technology Co., Ltd. (China)
MSD Corporation (China)
Green Master Packaging (Australia)
Rovi Packaging (Spain)