Jersey City, NJ, Jan. 30, 2024 (GLOBE NEWSWIRE) -- “Water-soluble Packaging Market” in terms of revenue was estimated to be worth $3.4 billion in 2023 and is poised to reach $6.06 billion by 2031, growing at a CAGR of 7.71% from 2024 to 2031 according to a new report by InsightAce Analytic.
Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global Water-soluble Packaging market are:
- Growing Environmental Concerns Driving Demand for Sustainable Packaging.
- Consumer Preference for Convenient and Eco-Friendly Packaging Solutions.
- Stringent Regulations Promoting Water-Soluble Alternatives.
The following are the primary obstacles to the Water-soluble Packaging market's expansion:
- Limited Material Strength and Durability
- Higher Initial Costs of Water-Soluble Packaging Materials
- Challenges in Recycling and Waste Management
Future expansion opportunities for the global Water-soluble Packaging market include:
- Expanding Applications in Food and Pharmaceutical Industries
- Collaborations for Research in Biodegradable Water-Soluble Materials
- Market Growth in Developing Economies
- One of the significant concerns restraining industry growth is the consumer awareness and acceptance barriers.
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Market Analysis:
This is because various regional end-user sectors, including food and beverage and household items, are increasingly demanding these packaging solutions. The need for these packaging solutions is also being driven by strict government laws and growing public awareness of the harmful environmental effects of traditional packaging materials. This is explained by the rising demand for cleaning capsules and pods from the home sector, especially for dishwashers and washing machines.
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)
Water-soluble Packaging Market Report Scope:
| Report Attribute | Specifications |
| Market size value in 2023 | USD 3.4 billion |
| Revenue forecast in 2031 | USD 6.06 billion |
| Growth rate CAGR | CAGR of 7.71% from 2024 to 2031 |
| Quantitative units | Representation of revenue in US$ Million, Volume (KT) and CAGR from 2024 to 2031 |
| Historic Year | 2019 to 2023 |
| Forecast Year | 2024-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
| Segments covered | By Raw Materials, End Users And Packaging Type |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Recent Developments:
- In July 2022, Aquapak declared its collaboration with Industrial Physics, a worldwide packaging, material, and product inspection organization. With this collaboration, Aquapak hopes to expand its line of sustainable packaging products, including Hydropol, which is soluble in water.
- In January 2019, Manufacturers like ECOMAVI Srl used sustainable solutions, including water-soluble packaging, after the Italian government started taxing non-recyclable plastic packaging.
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Water-soluble Packaging Market Dynamics:
Market Drivers: Increasing Plasticulture
Plasticulture has several advantages, such as increased yield by up to 50–60%, reduced water usage by up to 60–70%, inhibited weed growth, conserves soil, protects against unfavorable weather, saves up to 30–40% on fertilizer, lower post-harvest losses, and turns cold desert or wasteland into useful land. Up to 50% of the targeted targets in agriculture can also be greatly aided by increased plastic usage. Expanding the application of plasticulture can lower harvest loss and boost productivity, increasing GDP.
Challenges: Consumer Awareness and Acceptance Barriers
The benefits of water-soluble packaging are just unknown to many customers. Due to the established standard of traditional packaging, consumers might feel free to switch. Some people may find the idea of water-soluble packing foreign or even puzzling, making them reluctant to use it. The simplicity and familiarity of the current packaging are adapted to consumers. Modifying disposal practices or comprehending particular dissolving instructions to switch to water-soluble packaging could be necessary.
North America Is Expected To Grow With The Highest CAGR During The Forecast Period
The North American water-soluble Packaging Market is likely to register a significant revenue share and develop at a rapid CAGR soon. This is due to the increased need for non-surgical aesthetic procedures, men's increasing popularity, and the region's expanding trend of ageless beauty. The North American population is preoccupied with ideals of physical appearance and beauty. This has resulted in a significant demand for Water-soluble Packaging, which is used to improve facial features and minimize indications of aging. Furthermore, the region is home to a large number of professional practitioners, including dermatologists, plastic surgeons, and medical aestheticians, who are trained in the use of Water-soluble Packaging.
Segmentation of Water-soluble Packaging Market-
By Raw Material-
- Polymers
- Surfactants
- Fiber.
By End-User-
- Industrial
- Food & Beverage
- Pharmaceuticals
- Agriculture
- Chemicals
- Water Treatment
- Residential
By Packaging Type -
- Bags
- Pouches
- Pods & Capsules
- 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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