In terms of value, the water soluble films market is estimated to grow from USD 441.8 million in 2024 to USD 586.4 million by 2029, at a CAGR of 5.8%. The market for water soluble films is primarily driven by rising environmental consciousness and the subsequent shift towards sustainable materials. Conventional plastic packaging has drawn criticism for its effects on the environment as it leads to plastic pollution and the buildup of non-biodegradable waste in landfills and ocean. Water soluble films, which dissolve in water and leave no toxic residues behind are a desirable alternative for companies looking to reduce their environmental impact and support global sustainability.
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Based on type, the water-soluble films market is segmented as cold water soluble films and hot water-soluble films. From them, cold water soluble films segment accounted for largest market share, in terms of value, in 2023 and continue to dominate during the forecast period. This dominance is attributed to its adaptability and wide usage of these films in various applications. Cold water soluble films are frequently used in the detergent business for packaging of dishwashers and laundry detergents. To save energy and protect delicate fabrics, consumers are increasingly using cold wash cycles, and these cycles provide the ease of pre-measured doses while ensuring that the film dissolves entirely.
Based on application, the water soluble films market is segmented into detergent packaging, agrochemical packaging, water treatment chemical packaging, dye packaging, laundry bags, embroidery, food packaging, pharmaceutical, and other applications. The detergent packaging segment is estimated to be the largest application. Water soluble films dissolve easily in water, providing a mess-free and convenient way to use single-dose laundry and detergents. This eliminates the need for measuring and reduces the risk of spills. The need for convenient handling and less wastage of products in the developed markets will boost the use of water soluble films for detergent packaging.
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Based on region, Asia Pacific is projected to witness the highest CAGR during the forecast period. This growth is due to the rapid industrialization, robust economic growth, increasing population, rising disposable incomes, and favorable government regulations. Consumer expenditure on packaged goods, personal care items, and medications is expanding owing to the growing middle-class incomes. The need for innovative and sustainable packaging solutions, including water-soluble films, that satisfy the demands of ecologically conscious customers drives the market.
The key players profiled in the water-soluble films industry report include Mitsubishi Chemical Group Corporation (Japan), SEKISUI CHEMICAL CO., LTD. (Japan), KURARAY CO., LTD. (Japan), AICELLO CORPORATION (Japan), Ecopol S.p.A. (Italy), Arrow GreenTech Ltd. (India), Cortec Corporation (US), Changzhou Greencradleland Macromolecule Materials Co., Ltd. (China), Jiangmen Proudly Water-soluble Plastic Co., Ltd. (China), AMC (UK) Ltd. (UK), and Noble Industries (India). These companies have reliable manufacturing facilities as well as strong global footprint across key regions, such as North America, Europe, and Asia Pacific. They have an established portfolio of reputable products and services, a robust market presence, and strong business strategies.
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