With a projected Compound Annual Growth Rate (CAGR) of 5.6%, the global water soluble bags market is poised to hit US$ 1.7 billion by 2022, marking a substantial expansion. Looking ahead, the market size is anticipated to soar to US$ 2.9 billion by 2032, reflecting the escalating demand for environmentally friendly packaging solutions. In 2022, the water soluble bags market is expected to showcase a Year-on-Year (Y-o-Y) growth rate of 5.3%, underscoring the steady momentum within the industry. This growth trajectory underscores the increasing adoption of water soluble bags across various sectors, driven by sustainability concerns and regulatory pressures.
Polyvinyl alcohol (PVA) material serves as a water-soluble resin, boasting biodegradability. These bags, crafted from PVA, dissolve entirely in both cold and hot water, as endorsed by the Environmental Protection Agency (E.P.A.). Particularly in agro and chemical packaging, PVA bags are deemed completely biodegradable and environmentally safe. Leveraging their inherent biological structure, PVA bags dissolve seamlessly in water, leaving no trace of sediment, waste, or residue in nature, aligning with eco-friendly practices and contributing to the sustainable evolution of packaging solutions.
The India water-soluble packaging market delineates segments encompassing polymers, fibers, and surfactants, with polymers claiming the predominant share in 2018. According to the report, the India water-soluble bags market is poised for a notable surge, projecting a 6.2% increase in sales over the forecast period. This growth trajectory underlines the market’s responsiveness to evolving preferences and sustainable packaging solutions in the Indian landscape. Polymers emerge as a key driver, signifying the market’s emphasis on versatile materials, while the overall projection reflects a rising demand for water-soluble bags and a burgeoning interest in eco-friendly packaging practices within the Indian market.
Request our Sample Report now: https://www.futuremarketinsights.com/reports/sample/rep-gb-14976
Business Growth:
- Environmental Concerns: Increasing awareness about environmental pollution and the need for sustainable packaging solutions drive the demand for water-soluble bags. These bags offer eco-friendly alternatives to traditional plastic bags, reducing plastic waste and pollution.
- Regulatory Compliance: Stringent regulations imposed by governments and environmental agencies to reduce plastic usage and promote biodegradable materials boost the market for water-soluble bags. Manufacturers are compelled to adopt sustainable packaging solutions to comply with these regulations.
- Growing End-Use Industries: Industries such as healthcare, detergents, agrochemicals, and food packaging require safe and hygienic packaging solutions. Water-soluble bags offer convenience and safety, especially in applications where direct contact with the contents is undesirable, driving their adoption in these sectors.
- Convenience and Versatility: Water-soluble bags are versatile and can be tailored to various shapes and sizes, making them suitable for a wide range of applications. The convenience of use, coupled with their biodegradability, attracts consumers and industries alike.
- Innovations in Material Science: Advancements in material science and technology have led to the development of water-soluble polymers with enhanced properties such as strength, durability, and dissolution rate, further expanding the market scope.
- Health and Safety Concerns: In sectors like healthcare and pharmaceuticals, where contamination risks are high, water-soluble bags offer a sterile packaging solution. The emphasis on maintaining hygiene and preventing cross-contamination drives the demand for these bags.
Industry Trends:
- Cost Considerations: Water-soluble bags tend to be more expensive than conventional plastic bags due to the use of biodegradable materials and specialized manufacturing processes. This higher cost can deter price-sensitive consumers and industries from widespread adoption.
- Limited Load-Bearing Capacity: Although advancements have been made in enhancing the strength and durability of water-soluble bags, they generally have lower load-bearing capacities compared to traditional plastic bags. This limitation restricts their use in certain applications, such as heavy-duty packaging.
- Dissolution Rate: The dissolution rate of water-soluble bags can vary based on factors like temperature and humidity. In some cases, premature dissolution or delayed dissolution may occur, affecting product integrity and user experience, especially in demanding environments.
- Perceived Performance: Despite improvements, some consumers and industries may perceive water-soluble bags as less durable or reliable compared to traditional plastic bags. Overcoming these perceptions and building trust in the performance of these bags remains a challenge for market players.
- Supply Chain Challenges: Developing a robust supply chain for water-soluble materials and ensuring consistent quality control throughout the manufacturing process can be challenging. Variations in material sourcing, processing, and handling may impact product quality and reliability.
- Compatibility Issues: Water-soluble bags may not be compatible with certain packaging processes or storage conditions. Compatibility issues with existing machinery and packaging formats could hinder their adoption in some industries.
Competition Landscape
- POLYE MATERIALS CO., LTD,
- Chromogreen,
- ESCARRÉ AUTOMATIZACIÓN Y SERVICIOS,
- S.L.,
- Acedag Limited,
- Extra Packaging Corporation,
- TREVOR OWEN LIMITED,
- EOS Plast Srl,
- DESCO INDIA,
- Rovi Packaging, S.A.,
- FOSHAN POLYVA MATERIALS CO., LTD,
- Adventpac,
- Green Tech Bio Products,
- Shanghai Yifu Packaging Products Co., Ltd,
- Aquapak,
- United States Plastic Corporation.
For instance:
- In October 2021, Garment packaging bags made of Aquapak polymer will be released by the Finisterre garment industry, according to Aquapak Polymer Ltd. (UK). The startup intends to use soluble packaging to replace traditional packaging.
- In June 2020, Powerflute Group, a branch of Nordic Packaging and Container Holdings, was bought by Mondi Group (Austria) in order to boost its innovative packaging business in Europe.
- In March 2020, Kuraray Co. Ltd. (Japan) has opened a water soluble film production plant in Indiana, United States. The development will aid the company’s ability to expand its production capabilities.
Key Takeaways:
- Based on material type, sales in the polyvinyl alcohol (PVA) segment are slated to increase at a 5.4% CAGR over the forecast period.
- In terms of applications, demand in the chemicals and agrochemicals sector will grow at a 6.1% CAGR through 2032.
- The U.S. water soluble bags market will expand at a 4% CAGR over the assessment period.
- India will emerge as a lucrative pocket, with demand growing at a 6.2% CAGR over the forecast period.
Buy Now/Purchase: https://www.futuremarketinsights.com/checkout/14976
Key Segmentations:
By Material Type:
- Polyvinyl Alcohol (PVA)
- LDPE (Low Density Polyethylene)
- HDPE (High Density Polyethylene)
By Capacity:
- Less than 100 ml
- 101 to 200 ml
- 201-300
- Above 300 ml
By Application:
- Chemical & Agrochemical
- Personal Care & Cosmetics
- Home Care
- Food
- Pharmaceuticals
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
