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Water Soluble Packaging Market by Product Type (Pouches, Bags, Films, Others), by Solubility Type (Hot Water Soluble, Cold Water Soluble, Others), by Raw Material (Fibers, Polymers, Surfactants), by Application (Industrial, Residential) - Growth, Future Prospects, And Competitive Analysis, 2019 - 2027

"Rising demand for eco-friendly packaged products will boost the market."

The global water-soluble packaging market is growing competently, expected to grow at a CAGR of 4.8% during the estimated period from 2019 to 2027, starting from US$ 2.3 Bn in 2018.

The plastic used for packaging products is considered a loss for the economy only after a single use. According to the World Economic Forum 2016, 95% of the plastic used in packaging material, valued at about $80-$120 billion annually, is considered waste for an economy only after one-time use. The report also suggests that nearly 8 tons of plastic are discharged into the oceans. The aforesaid reasons will drive the water-soluble packaging market during the forecasted period. Moreover, efforts taken by various companies to reduce plastic waste used in packaging also contribute to the growth of the market. For instance, Unilever has implemented The Unilever Sustainable Living Plan (USLP). USLP aims to reduce environmental impact by half. In addition, Procter & Gamble declared sustainability through a 30% reduction in plastic packaging in fabric care products.

The rising inclination of consumers towards recycled products is boosting the market. For instance, according to a research study and news from 2018, 49% of UK consumers preferred products made from recycled plastic, and 72% preferred products packaged with recycled plastic.

Market Synopsis

Application Analysis

"Reduction of waste generation among industries worldwide will spark market growth."

The application segment is subdivided into industrial, residential, and others. The industrial segment records to hold the utmost position in 2018. Industries are focusing on reducing plastic consumption to make the manufacturing process sustainable. Various initiatives by the government to reduce the consumption of plastic is a prominent factors driving the growth of the industrial segment. Various food industries started using edible and soluble packaging for their products. According to the World Economic Forum 2016, 8 million pieces of plastic are disposed into oceans annually. To elucidate the above problem, detergent industries also commenced using water-soluble packaging.

"The growing government initiatives worldwide will boost the industrial segment."

The industrial segment will grow with the fastest CAGR owing to increasing government initiatives such as, in January 2019, a broadcasting company Sky joined the UK government. This collaboration aims to provide funds to start-ups that are devoting to the plastic crisis. Moreover, government initiatives to ban single-use plastic is a key factor propelling the market's growth. For instance, in March 2018, the government of Maharashtra (India) declared a ban on the use of plastic.

Regional Analysis

"The development of new products leads to dominance."

In 2018, North America led the water-soluble packaging market, increasing people's awareness of the ill effects of plastic and environmental sustainability. Moreover, the involvement of the government in reducing plastic waste is pushing manufacturers to produce and use soluble plastic, which is one of the key factors driving the market. For instance, in May 2019, the California government passed an act to the reduction of plastic waste in the region. The California Circular Economy and Plastic Pollution Reduction Act aim to reduce 75% of the waste generated from single-use packaging products by 2030.

Major manufacturers in the North American region are developing new water-soluble plastic packaging and expanding their reach globally. Therefore, the aforementioned reasons also contribute to the market's growth within the region.

List of Companies Covered:

  • Lithey Inc.
  • Mondi
  • Aquapak
  • Watson Inc.
  • Arrow GreenTech Ltd.
  • Sekisui Specialty Chemicals America.

Key Industry Developments:

  • In January 2020, Aquapak launched a hot-water soluble polymer. The hot-water soluble is made from polyvinylalchol by using the latest technology. The hot-water soluble bag is non-toxic and marine-safe.
  • In August 2017, Mondi launched a new water-soluble film. Mondi water-soluble film is designed for packing powder, granules, and tablets. Mondi's water-soluble film provides multiple layers of protection.

Historical & Forecast Period

This study report represents analysis for each segment from 2017 to 2027, considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.

Segmentation Product Type (2017–2027; US$ Bn)

  • Pouches
  • Bags
  • Films
  • Others (Capsules and Pods)

 Solubility Type (2017–2027; US$ Bn)

  • Hot Water Soluble
  • Cold Water Soluble
  • Others

 Raw Material (2017–2027; US$ Bn)

  • Fibers
  • Polymers
  • Surfactants

 Applications (2017–2027; US$ Bn)

  • Industrial
  • Residential

 Geography (2017–2027; US$ Bn)

  • North America (U.S., Canada)
  • Europe (U.K., Germany, Spain, Italy, Rest of Europe)
  • Asia Pacific (Japan, China, India, Rest of Asia Pacific)
  • Rest of the World (Latin America, Middle East & Africa)

The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities to understand the water-soluble packaging market better. The global report also represents the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.

Frequently Asked Questions

The market for Water Soluble Packaging is expected to reach US$ 2.3 Bn in 2028.

The Water Soluble Packaging market is expected to see significant CAGR growth over the coming years, at 4.8%.

The report is forcasted from 2015-2022.

The base year of this report is 2021.

Lithey Inc., Mondi, KURARAY CO. LTD., AICELLO CORPORATION, Aquapak, PACKSPEC, Watson Inc are some of the major players in the global market.

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Published Date:  Jan 2020
Category:  Packaging
Report ID:   60145
Report Format:   PDF
Pages:   150
Rating:    4.4 (69)
Delivery Time: 24 Hours to 48 Hours   
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