Allied Market Research Says, Global Water soluble films market is anticipated to exceed $644.7 million by 2030, and registering at a CAGR of 6.3% from 2021 to 2030. Water soluble films industry growth is driven by rising demand from pharmaceutical industry, surge in use in detergent packaging, and increase in inclination toward agriculture. However, high production cost hinders the market growth. On the contrary, consumable water-soluble films are expected to open new opportunities for the market players in the future.
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Based on product type, the cold water soluble films segment held the lion’s share in 2020, accounting for more than half of the market. In addition, the segment is projected to manifest the highest CAGR of 6.5% from 2021 to 2030. The report includes an analysis of the hot water soluble films segment.
On the basis of end use, the pharmaceutical & healthcare segment is expected to register the highest CAGR of 6.8% during the forecast period. However, the consumer goods segment dominated the market in 2020, contributing to nearly two-fifths of the market.
The global water soluble films market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2020, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is anticipated to portray the highest CAGR of 7.2% during the forecast period.
BY APPLICATION
1. DETERGENT PACKAGING
2. AGROCHEMICAL PACKAGING
3. PHARMACEUTICAL PACKAGING
4. DISPOSAL BAG
5. LAUNDRY BAG
6. FISHING BAGS
7. OTHERS
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The global water soluble films market report includes an in-depth analysis of the prime market players such as KURARAY Co. Ltd., Mitsubishi Chemical Corporation, AICELLO Corporation, Sekisui Specialty Chemicals, Cortec Corporation, Arrow GreenTech Ltd., ACEDAG Ltd., Soluble Technology Limited, Joyforce Chemical Industrial Co., Ltd., and Jiangmen Cinch Packaging Materials Co., Ltd.
Covid-19 Scenario:
The Covid-19 pandemic negatively affected the end-use industries of water soluble films including agriculture, consumer goods, textile, food & beverages, and packaging. Moreover, the pandemic disrupted the supply chain and created a gap in supply and demand.
The ban on international travel and trade of non-essential items hampered the water-soluble films among the packaging sectors. The shutdown of textile industry hampered the consumption and demand for water-soluble films.
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Key Benefits for Stakeholders
Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
It outlines the current water-soluble films market trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
The profiles of key players and their key strategic developments are enlisted in the report.
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