The water soluble packaging market is projected to grow at a CAGR of 5.0%
NEW YORK, Jan. 7, 2020 /PRNewswire/ --
The water soluble packaging market is projected to grow at a CAGR of 5.0%.
The global water soluble packaging market is estimated to be valued at USD 2.8 billion in 2019 and is projected to reach USD 3.7 billion by 2025, recording a CAGR of 5.0%. Factors such as the increasing awareness about the side-effects of single-use plastics and sustainability factors associated with water soluble packaging are projected to drive the growth of the water soluble packaging market during the forecast period.
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• By raw material, the polymer segment is accounted for the largest share in 2018.
The polymer segment accounted for a major share in the global water soluble market, on the basis of raw material, in 2018.Polymers such as polyvinyl alcohol are majorly used as the water soluble material for manufacturing of packaging.
Due to varied application of such polymers, along with higher availability of sources such as petrochemicals and plants (starch), the segment has accounted to have a significant share in the water soluble packaging market.
By end use, the industrial segment in the water soluble packaging market is estimated to account for the largest share.
Based on end use, the water soluble packaging market is segmented into industrial, residential, and others.The industrial sector is estimated to account for the largest share for water soluble packaging, because most of the industrial manufacturing companies are focusing toward reduction of waste generation from their manufacturing units and showing interest in making their processes more sustainable by replacing the usage of plastics.
Also, in industries such as agriculture and detergents where chemical handling is the critical process, use of water soluble packaging makes it harmless for the workers to deal with chemicals. Thus, the demand for water soluble packaging is higher in industrial sectors.
North America accounted for the largest share in the water soluble packaging market, due to the higher acceptability and growing awareness toward sustainability issues.
The water soluble packaging market in the North American region is largely driven by growing consumer awareness toward environmental sustainability.Packaging waste is one of the significant issues faced in developing and developed countries.
Moreover, the involvement of government with proposed legislation in California for a 75% reduction in plastic waste by 2030 also encourages the manufacturers to shift their interest toward water soluble packaging. Strong investment in R&D and technological advancements (such as barrier protection and better tensile strength) are expected to have a positive impact on the domestic production of water soluble packaging in North America.
The global water soluble packaging market is segmented region-wise, with a detailed analysis of each region. These regions include North America, Europe, Asia Pacific, South America, and RoW (the Middle East & Africa).
Break-up of Primaries
• By Company Type: Tier 1 - 45%, Tier 2 - 30%, and Tier 3 - 25%
• By Designation: C-level - 25%, D-level - 40%, and Others* - 35%
• By Region: Asia Pacific - 55%, Europe - 20%, North America - 15%, and RoW** - 10%
*Others include sales managers, marketing managers, and product managers.
**RoW includes the Middle East & Africa.
Leading players profiled in this report include the following:
• Lithey Inc. (India)
• Mondi Group (Austria)
• Sekisui Chemicals (Japan)
• Kuraray Co. Ltd. (Japan)
• Mitsubishi Chemical Holdings (Japan)
• Aicello Corporation (Japan)
• Aquapak Polymer Ltd (UK)
• Lactips (France)
• Cortec Corporation (US)
• Acedag Ltd. (UK)
• MSD Corporation (China)
• Prodotti Solutions (US)
• JRF Technology LLC (US)
• Amtopak Inc. (US)
• SmartSolve Industries (CMC Group) (US)
• Guangdong Proudly New Material (China)
• Arrow Greentech Ltd. (India)
• Amtrex Nature Care Private Ltd. (India)
• Solupak (UK)
• Decomer Technology (Estonia)
Research Coverage
This report segments the water soluble packaging market, on the basis of raw material, end-use, solubility type, packaging type, and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the water soluble packaging market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.
Reasons to buy this report
• To get a comprehensive overview of the water soluble packaging market
• To gain wide-ranging information about the top players in this industry, their product portfolio details, and the key strategies adopted by them
• To gain insights about the major countries/regions, in which the water soluble packaging market is flourishing
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