According to the new market research report “Water Soluble Films Market by Type (Hot water Soluble, Cold Water Soluble) By Application (Detergent, Agrochemical, Water Treatment Chemical, Dye, Food, Laundry Bags, Embroidery, Pharmaceutical Packaging) – Global Forecasts to 2025“, The water soluble films market is projected to reach USD 476 million by 2025, at a CAGR of 5.5% from USD 364 million in 2020.
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The growth of the water soluble films market is primarily triggered by growing demand for convenience food items. The consumer preference for convenience food items is significantly increasing. The key reasons for this demand are the shift toward a healthy lifestyle and high purchasing power of consumers. The best examples of convenience food in the fresh food segment are salad bags, fresh herbs pack, chopped vegetable bags, vegetable trays, and single-serve salad packaging. The other main reason for the rise in demand for convenience food is the increasingly fast-paced lifestyle in emerging economies. Demographic factors such as increasing number of single parents and working-class women also contribute to the demand for convenience food.
Cold water soluble films accounted for the largest share of the overall water soluble films market, in terms of value, in 2019. There are three sub-types of cold water soluble films, namely, type Z, type C, and type W. They are categorized based on water temperature. Type Z water soluble films can dissolve at 5oC and above, type C can dissolve at 15oC and above, and type W can dissolve at 25oC and above. Cold water soluble films are used in many applications. Detergent packaging is the largest application for this type of water soluble film. Due to its use in a wide range of applications, cold water soluble films dominated the overall market. Due to the limited scope and applications of hot water soluble films, they are used only in specific applications.
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217 – Pages
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The water soluble films market size is projected to reach USD 476 million by 2025 from USD 364 million in 2020, at a CAGR of 5.5%. growing demand for convenience food items is expected to support the growth of the water soluble films market. However, higher cost of water soluble films is restraining the growth of the market. On the other hand, edible water soluble films has created opportunities for manufacturers.
Kuraray Co. Ltd. (Japan), Mitsubishi Chemical Corporation (Japan), Sekisui Chemical Corporation (Japan), Aicello Corporation (Japan), and Arrow Greentech Ltd. (India) are the major players in this market.
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Kuraray Co. Ltd. is one of the the largest players in the water soluble films market. It has a strong brand name in the industry. Kuraray Co. Ltd. is a Japan-based chemical fiber company founded for the purpose of commercializing synthetic rayon. It later expanded its business into high-performance fibers, resins, and chemicals. It offers different products & services through six reportable business segments.
Mitsubishi Chemicals Corporation is a Japan-based global player who manufactures chemical products. It is a major player in the production and selling of water soluble PVOH film. It operates under five business segments, namely, chemicals, performance products, industrial gases, health care, and others.
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