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Global Water Soluble Films Market to Witness Strong Growth Accelerated by Rising Demand for Convenience Food Packaging

Water Soluble Films Market

Water soluble films are made from synthetic and natural polymers which dissolve in water and are highly suitable for packaging of water soluble products. These films provide airtight protection to products like detergents, sports goods, agrochemicals, and pharmaceuticals. Moreover, water soluble films cause zero pollution and are manufactured using recycled materials, making them environment friendly. 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 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Rising demand for convenience food packaging is one of the key factors driving the growth of the global water soluble films market. Consumers increasingly prefer easy to use and ready to eat packaged foods owing to busy lifestyles. Water soluble films are widely used in packaging of frozen vegetables, frozen meat, dried fruits, and coffee pods as their single use packaging dissolves completely in water, offering hassle free disposal of packaging waste. Moreover, growing health awareness is fuelling the demand for packaged nutrition supplements and pharmaceuticals, which boosts the adoption of water soluble films as they prevent contamination of pills and capsules. Increased focus on sustainable packaging solutions further accelerates the market growth.

Segment Analysis

The global water soluble films market is segmented into film type and application. Based on film type, the polyvinyl alcohol (PVA) films segment dominated the market in 2023 and is expected to continue its dominance over the forecast period. PVA films possess excellent chemical resistance and water solubility along with good mechanical properties like tensile strength and elongation. Due to its easy availability and cost-effectiveness compared to other film types, PVA films find wide application in several industries such as chemical, agriculture, pharmaceutical, and food.

Key Takeaways

The Global Water Soluble Films Market Demand is expected to witness high growth over the forecast period. The market in Asia Pacific region is growing at the fastest pace on account of rapid industrialization and urbanization coupled with rising population in countries like China, India. Key players operating in the water soluble films market are Mondi Group, Kuraray Co. Ltd., Cortec Corporation, Arrow GreenTech Ltd., AMC (UK) Ltd., Aicello Corporation, Sekisui Chemical Co. Ltd., Neptun Technologies GmbH, and Mitsubishi Chemical Corporation.

The Asia Pacific region held the largest share of the global water soluble films market in 2023 and is expected to maintain its leading position throughout the forecast period. Factors such as the high population density, rapidly increasing manufacturing activities in industries like pharmaceuticals, agriculture, chemicals in countries like China and India are driving the market growth. Additionally, favorable government policies to promote sustainable packaging formats are also supporting market growth.

Key players operating in the water soluble films market are focusing on expanding their production capacities and product portfolios to strengthen their market position. For instance, Kuraray Co. Ltd. has developed bio-based PVA films using renewable materials. It aims to provide more sustainable water soluble film options to customers. Mondi Group has recently opened a new production line in Germany and expanded its production capacity of water soluble films by 20%.

Explore more information on this topic, Please visit -

https://www.insightprobing.com/water-soluble-films-market-size-and-trends-analysis/ 

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