Water soluble films find widespread application in diverse industries like packaging, healthcare, and agriculture due to their solubility in water. Films made of polyvinyl alcohol, proteins and polysaccharides are commonly used as water soluble materials and fabricated into various formats like pouches, packets and wraps. Their ability to readily dissolve in water eliminates the need for waste management and landfill disposal. Water soluble films can be used as a sustainable alternative to conventional plastic films for applications like detergent pods, fertilizer bags, and medical device packaging.
The global Water Soluble Films Market is estimated to be valued at US$ 408.14 Mn in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Water soluble films find extensive application as packaging in various industries such as agriculture, chemicals, food and beverages. Films made from materials such as polyvinyl alcohol and proteins protect products from damage and contamination while allowing visibility of products. They are widely used as wrappers for detergent pods and vegetable fertilizer bags. Their single-use packaging avoids waste accumulation and associated environmental pollution. The solubility feature also enables convenient application and removal of films without leaving residues. Their biodegradability can boost sustainability. Rising commercial cultivation and greater use of soluble packets for agricultural inputs will boost film demand. The growth in e-commerce and last-mile delivery has increased the use of soluble pouches for small packets and doses of consumer products.
Market key trends:
One of the major trends in the global water soluble films market is the shift towards environment-friendly and sustainable packaging solutions. Consumers are increasingly demanding eco-friendly alternatives to plastics and other petroleum-based packaging materials. As a result, manufacturers are investing in R&D to develop novel bio-based materials which can replace plastics and provide solubility in packaging applications. Polymers derived from agricultural raw materials like corn, potatoes and sugarcane are gaining popularity among water soluble film producers. Their biodegradability addresses concerns around plastic pollution and aids in promoting a circular economy. Innovation in material properties to achieve desired strength, barrier and efficiency will expand the scope of applications for water soluble films going ahead.
Porter's Analysis
Threat of new entrants: The threat of new entrants in the water soluble films market is moderate. Significant capital investment is required to build manufacturing facilities. Bargaining power of buyers: The bargaining power of buyers is moderate. Buyers have limited choices of vendors due to patent protection. Bargaining power of suppliers: The bargaining power of suppliers is low as raw materials are accessible and substitutable.
Threat of new substitutes: The threat of new substitutes is moderate as water soluble films have properties that are difficult to substitute.
Competitive rivalry: Competition in the market is high as key players compete on the basis of product offerings and pricing.
Key Takeaways
The Global Water Soluble Films Market Demand is expected to witness high growth. The global Water Soluble Films Market is estimated to be valued at US$ 408.14 Mn in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030.
The Asia Pacific region is expected to dominate the market over the forecast period. Rapid growth in the region can be attributed to increasing demand from end use industries like detergents. Strong economic growth and rising disposable incomes are supporting increased detergent consumption. Key players operating in the water soluble films market include Chattanooga International, Herrmann Apparatebau, and Prime Pacific Health.
Key players related content comprises Key players operating in the water soluble films market are Chattanooga International, Humares , Prime Pacific Health , Herrmann Apparatebau, Transcom, CleanColon Italy, Prometheus Group, Shenzhen Lifotronic Technology, PPHIC, Comba UK, Enteromed Group, Lifotronic, Dotolo Research , TECNO-GAZ. Competition among these players is based on product quality and pricing.
For more details on the report, Read- https://www.ukwebwire.com/water-soluble-films-market-size-and-share/
