Water Soluble Film Market

Market Overview:

The global water soluble film market size reached US$ 395.6 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 611.1 Million by 2032, exhibiting a growth rate (CAGR) of 4.8% during 2024-2032. The burgeoning packaging industry, increasing demand for small or unit dose packs for household items, and the growing concerns for protecting industrial workers from coming in direct contact with hazardous materials represent some of the key factors driving the market.

Escalating Demand for Water Soluble Film in Food Packaging Strengthening Market Growth

Presently, hectic working schedules and increasing demand for convenience and ready-to-eat (RTE) food items are increasing the demand for water soluble film. It is made from edible materials, such as starch and cellulose, which are safe for human consumption. In addition, it is used in the packaging of candy, dried fruits, and snacks, which eliminates the need for separate packaging and reduces waste. Moreover, it is employed for single-serve packaging of products, including coffee, tea, and hot chocolate. Additionally, water soluble film is utilized to wrap perishable foods, such as meat, poultry, and fish, for preserving their freshness and extending their shelf life.

Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is fragmented with several small and large players operating in the industry due to low product differentiation. The volume of new entrants is moderate in the water soluble film industry due to the presence of a large number of players, minimum capital investments, and easy access to distribution networks.

What is Water Soluble Film?

Also known as polyvinyl alcohol (PVA/PVOH) film, water-soluble film is a synthetic polymer, which is soluble in water. It is colorless, odorless, biodegradable, and non-toxic and possesses high tear and tensile strength, puncture resistance, and adhesive properties. It offers smooth mechanical operations, enhanced productivity, cost-effectiveness, and flexibility in packaging. It also provides high solvent resistance, gas barrier performance and excellent heat-sealing properties, and printability. As a result, water soluble film is gaining traction in diverse applications, such as packaging agricultural chemicals and pharmaceuticals, printing curved surfaces, and as base materials for wigs and embroidery. It is also used for laminating, packaging, and wrapping applications in a wide range of industries across the globe.

COVID-19 Impact:

The COVID-19 pandemic outbreak imposed unprecedented challenges on manufacturing companies and led to a partial or complete shutdown of facilities. It also created a serious disturbance in the packaging sector and hampered the supply chains, which resulted in labor shortages and an increment in the price of raw materials. This further caused a significant drop in the production of water soluble film and order delays for the packaging companies. Moreover, the movement of raw materials required for manufacturing water-soluble film, including polyvinyl alcohol (PVA), polyacrylic acid (PAA), ethane, polyoxyethylene glycol (PEG), sodium hydroxide (NaOH), auxiliary agent, and water also impacted the production of water soluble films. However, the impact is currently limited, as many providers are involved in managing the supply chain and overcoming the unprecedented pandemic effect.

Water Soluble Market Trends:

At present, water soluble films are employed in the packaging of disinfectants and detergents on account of their non-toxic and biodegradable properties. They also facilitate a barrier for odor, aromas, bacteria, and gases. Product benefits, in confluence with the burgeoning packaging industry and increasing demand for water soluble films as a sustainable and eco-friendly packaging material, represent one of the key factors positively influencing the market across the globe. In addition, the widespread adoption of water soluble films in the chemical industry for protecting industrial workers from coming in direct contact with hazardous materials is bolstering the market growth. Additionally, water soluble films are gaining immense popularity in the food and beverage (F&B) industry on account of their air- and oil-resistant properties, which are offering lucrative growth opportunities to key market players. Furthermore, governments of various countries are implementing stringent environmental protection laws and regulations, which is strengthening the market growth. Besides this, leading market players are heavily investing in research and development (R&D) activities to introduce new products and enhance their existing product portfolio. They are also focusing on producing unique and advanced structures of technologies based on polymer, synthetic chemistry, and carbon material chemistry, with technologies and expertise, which is stimulating the growth of the market around the world.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global water soluble film market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on material, application and end-use industry.

Material Insights:

• PVA/PVOH 
• Xylan
   

The report has provided a detailed breakup and analysis of the water soluble film market based on the material. This includes PVA/PVOH and Xylan. According to the report, PVA/PVOH represented the largest segment due to the increasing demand for eco-friendly and biodegradable packaging material. Moreover, it is employed in diverse packaging applications including agrochemicals, cement, pharmaceuticals, detergents, and dyes on account of its high tensile strength and flexibility.

Application Insights:

• Detergent Packaging
• Agrochemical Packaging
• Water Treatment Chemical Packaging
• Pharmaceutical Packaging
• Others
   

A detailed breakup and analysis of the water soluble film market based on the application has also been provided in the report. This includes detergent packaging, agrochemical packaging, water treatment chemical packaging, pharmaceutical packaging, and others. According to the report, detergent packaging accounted for the largest market share on account of the growing utilization of water soluble films in single-use packs, which helps in preventing wastage, spillage, and overdosing by the end user. In addition, water soluble films are widely employed for detergent packaging applications on account of their properties, such as resistance to oil and organic solvents, barrier protection, and biodegradability.

End-Use Industry Insights:

• Textile
• Agriculture
• Consumer Goods
• Healthcare
• Others
   

A detailed breakup and analysis of the water soluble film market based on the end-use industry has also been provided in the report. This includes textile, agriculture, consumer goods, healthcare, and others. According to the report, consumer goods accounted for the largest market share on account of the emerging trend of nuclear families and the elevating urbanization levels are increasing the demand for small or unit dose packs of food and personal care items. In line with this, several detergent manufacturers are introducing single-use packs as a means to expand their customer base and avoid wastage and spillage by the end-user, which is catalyzing the demand for water soluble films. Furthermore, the growing environmental consciousness among consumers and the escalating need for green packaging solutions are also stimulating the market.  

Regional Insights:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. According to the report, Asia Pacific was the largest market for water soluble film. Some of the factors driving the North America water soluble film market included the rising demand for water-soluble films in flexible packaging materials for extensive applications across the agrochemicals, pharmaceuticals, and textile industries. In addition, the continuous development of numerous manufacturing plants in the region is propelling the demand for water soluble film in the region. Furthermore, the introduction of green procurement policies by government bodies and shifting consumer preferences towards eco-friendly packaging materials, are driving the demand for water soluble film.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global water soluble film market. Some of the companies covered in the report include:

• Kuraray Co. Ltd.
• Nippon Synthetic Chemical Industry Co. Ltd.
• Sekisui Chemical Co., Ltd.
• Aicello Corporation
• Arrow GreenTech Ltd.
• Cortec Corporation
• Changzhou Kelin PVA Water Soluble Films Co., Ltd.
• Jiangmen Proudly Water-soluble Plastic Co., Ltd.
• AMC (UK) Ltd.
• 3M Company
• Mitsubishi Chemical Corporation
• DuPont de Nemours, Inc.
• Fujian Zhongsu Biodegradable Films Co., Ltd.
• Dezhou Huamao Textile Co. Ltd.
• Neptun Technologies GmbH
   

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global water soluble film market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global water soluble film market?
• What is the impact of each driver, restraint, and opportunity on the global water soluble film market?
• What are the key regional markets?
• What is the breakup of the market based on the material?
• Which is the most attractive material in the water soluble film market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the water soluble film market?
• What is the breakup of the market based on the end-use industry?
• Which is the most attractive end-use industry in the water soluble film market?
• What is the competitive structure of the global water soluble film market?
• Who are the key players/companies in the global water soluble film market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the water soluble film market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global water soluble film market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the water soluble film industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.