Water soluble films are widely used in food packaging and coating applications owing to their non-toxic and environment friendly properties. These films rapidly dissolve in water and prevent blocking of drainage systems when disposed of through sewers. Their usage has increased in applications such as unit dose packaging in detergents, agrochemicals, water treatment chemicals etc.

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 9.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growth of the packaging industry has significantly contributed to the increased adoption of water soluble films. The demand from industries such as food and beverages, agriculture, detergents etc. has surged in recent years. Also, strict regulations pertaining to the usage of single use plastics have further propelled the demand for environment friendly water soluble film packaging. Recent innovations have enabled the production of water soluble films equipped to dissolve in cold water, thereby saving energy. Their ability to completely dissolve in water with no particle residue makes them suitable for applications were blocked drains need to be avoided. The development of cold water soluble films as well as enhanced application scope is expected to drive the water soluble films market over the forecast period.

SWOT Analysis

Strength: Water soluble films are eco-friendly packaging material as they dissolve in water without leaving any waste or harming the environment. This boosts their adoption.

Weakness: High material and manufacturing costs make water soluble films more expensive than conventional plastics. Changes in raw material prices can negatively impact profit margins.

Opportunity: Growing awareness about sustainable packaging is fueling the demand for water soluble films from various end-use industries like food, beverages, pharmaceuticals etc. Supportive government regulations regarding single-use plastics provide growth opportunities.

Threats: Availability of alternative biodegradable packaging materials can replace water soluble films. Stagnant economy can lower the demand from price-sensitive end-use industries.

Key Takeaways

The Global Water Soluble Films Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. 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 9.8% over the forecast period 2023 to 2030.

The Asia Pacific region dominates the global market and is expected to maintain its leading position over the forecast period. Growing food and pharmaceutical industries coupled with rising awareness about eco-friendly packaging drive the demand for water soluble films in Asia Pacific countries like India and China.

Key players

Key players operating in the water soluble films market are Chattanooga International, Humares , Prime Pacific Health , Herrmann Apparatebau, Transcom, CleanColon Italy, Prometheus Group, Shenzhen Lifotronic Technology, PPHIC, Comba UK, Enteromed Group, Lifotronic, Dotolo Research , TECNO-GAZ. These key players are focusing on new product launches and expanding their production capacities to cater to the rising demand.

For more details on the report, Read- https://www.zupyak.com/p/3972047/t/the-growing-application-areas-for-packaging-and-industrial-films-is-driving-the-water-soluble-films-market