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The water soluble packaging market is projected to grow at a CAGR of 5.0%.
According to MarketsandMarkets, the global water soluble packaging market is estimated to be valued at USD 2.8 billion in 2019 and is projected to reach USD 3.7 billion by 2025, recording a CAGR of 5.0%. Factors such as the increasing awareness about the sideeffects of singleuse plastics and sustainability factors associated with water soluble packaging are projected to drive the growth of the water soluble packaging market during the forecast period.
By raw material, the polymer segment is accounted for the largest share in 2018.
The polymer segment accounted for a major share in the global water soluble market, on the basis of raw material, in 2018. Polymers such as polyvinyl alcohol are majorly used as the water soluble material for manufacturing of packaging. Due to varied application of such polymers, along with higher availability of sources such as petrochemicals and plants starch, the segment has accounted to have a significant share in the water soluble packaging market.
By end use, the industrial segment in the water soluble packaging market is estimated to account for the largest share.
Based on end use, the water soluble packaging market is segmented into industrial, residential, and others. The industrial sector is estimated to account for the largest share for water soluble packaging, because most of the industrial manufacturing companies are focusing toward reduction of waste generation from their manufacturing units and showing interest in making their processes more sustainable by replacing the usage of plastics. Also, in industries such as agriculture and detergents where chemical handling is the critical process, use of water soluble packaging makes it harmless for the workers to deal with chemicals. Thus, the demand for water soluble packaging is higher in industrial sectors.
North America accounted for the largest share in the water soluble packaging market, due to the higher acceptability and growing awareness toward sustainability issues.
The water soluble packaging market in the North American region is largely driven by growing consumer awareness toward environmental sustainability. Packaging waste is one of the significant issues faced in developing and developed countries. Moreover, the involvement of government with proposed legislation in California for a 75% reduction in plastic waste by 2030 also encourages the manufacturers to shift their interest toward water soluble packaging. Strong investment in RD and technological advancements such as barrier protection and better tensile strength are expected to have a positive impact on the domestic production of water soluble packaging in North America.
The global water soluble packaging market is segmented regionwise, with a detailed analysis of each region. These regions include North America, Europe, Asia Pacific, South America, and RoW the Middle East Africa.
Breakup of Primaries
By Company Type: Tier 1 45%, Tier 2 30%, and Tier 3 25%
By Designation: Clevel 25%, Dlevel 40%, and Others* 35%
By Region: Asia Pacific 55%, Europe 20%, North America 15%, and RoW** 10%
*Others include sales managers, marketing managers, and product managers.
**RoW includes the Middle East Africa.
Leading players profiled in this report include the following:
Lithey Inc. India
Mondi Group Austria
Sekisui Chemicals Japan
Kuraray Co. Ltd. Japan
Mitsubishi Chemical Holdings Japan
Aicello Corporation Japan
Aquapak Polymer Ltd UK
Cortec Corporation US
Acedag Ltd. UK
MSD Corporation China
Prodotti Solutions US
JRF Technology LLC US
Amtopak Inc. US
SmartSolve Industries CMC Group US
Guangdong Proudly New Material China
Arrow Greentech Ltd. India
Amtrex Nature Care Private Ltd. India
Decomer Technology Estonia
This report segments the water soluble packaging market, on the basis of raw material, enduse, solubility type, packaging type, and region. In terms of insights, this research report focuses on various levels of analysescompetitive landscape, enduse analysis, and company profileswhich together comprise and discuss the basic views on the emerging highgrowth segments of the water soluble packaging market, highgrowth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.
Reasons to buy this report
To get a comprehensive overview of the water soluble packaging market
To gain wideranging information about the top players in this industry, their product portfolio details, and the key strategies adopted by them
To gain insights about the major countries/regions, in which the water soluble packaging market is flourishing
Original Article: Water Soluble Packaging Market by Raw Material Polymer, Surfactant, and Fiber, End Use Industrial, and Residential, Solubility Type Cold Water Soluble and Hot Water Soluble, Packaging Type, and Region Global Forecast to 2025 [Published by MarketsandMarkeNEXT ARTICLE
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