An extensive study of the product application and services conducted by subject matter experts assessing the market will help product owners to make a wise decision.
New York, United States – May 25, 2020 /MarketersMedia/ —
The Global Water Dissolvable Packaging Market is forecast to reach USD 4.83 billion by 2027. The growing importance of biodegradable, low cost & easy decomposing plastic packaging, increasing proliferation of the smart plastics that diminishes the harm of the plastics, and growing awareness against the usage of non-biodegradable & single-use plastic packaging are predominantly enforcing the growth of the water dissolvable packaging market. Practices that sustain the environmental welfare are being adopted by the packaging industry. The requirement of affordable, sustainable & resilient packaging material are leading to the increased use of the water-soluble plastics for packaging across many industry verticals.
Water dissolvable packaging that do not cost much compared to the conventional plastic packaging can be hugely incorporated by many packaging companies. A joint venture of Solubag and Polye Materials designed the water dissolvable packaging bags that cost about 1.5 times of that of any normal plastic bags. The cost of the bags from the company kept being reduced in the next generations, increasing its chance of wide adaptability by the packaging companies.
This report covers the recent COVID-19 incidence and its impact on Water Dissolvable Packaging Market. The pandemic has widely affected the economic scenario. This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
Industry experts are quite affirmative with the continuous growth of this market as more and more companies are looking for alternatives to the conventional non-biodegradable plastics. Even if the packaging material is composed of the biodegradable plastics, it takes an additional cost to make them reusable or disintegrate in nature. Many start-ups are coming up with technologies that create low cost water dissolving packaging and earning a higher revenue with an immediate global presence and customers.
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Key participants include Kuraray Co. Ltd, Mitsubishi Chemicals Holdings, Cortec Corporation, Mondi Group, Sekisui Chemicals, Aquapak Polymer Ltd. (Hydropol), Lithey Inc., MSD Corporation, Amtopak Inc., and JRF Technology LLC, among others.
For the purpose of this study, Reports and Data have segmented the Water Dissolvable Packaging Market on the basis of raw material, decomposition, products, grade, and region:
Raw Materials Outlook (Revenue, USD Million; 2019-2027)
Decomposition Outlook (Revenue, USD Million; 2019-2027)
• Hot Water
• Warm Water
• Cold Water
Products Outlook (Revenue, USD Million; 2019-2027)
• Films & Wrappers
• Pods & Pouches
Grade Outlook (Revenue, USD Million; 2019-2027)
• Food Grade
• Industrial Grade
• Pharmaceutical Grade
End-Use Verticals Outlook (Revenue, USD Million; 2019-2027)
• Food & Beverages
• Agricultural & Chemicals
• Domestic Applications
• Healthcare Sectors
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Regional Outlook (Revenue in USD Million; 2016–2026)
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia)
Further key findings from the report suggest
• In February 2020, Kuraray Co., Ltd., a Tokyo based Specialty Chemical Company, announced an establishment of a new MonoSol production facility for the polyvinyl alcohol made water-soluble films in Poland. The enormous demand for packaging film for unit dose detergents, medicated products, and others are the main focus behind this company development in Europe.
• The hot water decomposition holds the highest usage as the temperature range that it follows is mostly quite feasible and convenient for the end-use applications. Water temperature usually ranging from 55 to 75 degree Celsius are stable and storable for most applications.
• A high growth rate has been observed in the medical-grade usage due to the growing concerns with medical used wastes. The packaging polymer wastages abandoned from the hospitals, clinics, and other healthcare facilities harbors a high chance of widespread of the highly infectious diseases. Many hospitals are being inclined to adopt this kind of packaging materials to easily decompose them into nature.
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