DUBLIN--(BUSINESS WIRE)--The "North America Water Soluble Packaging Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Raw Material; Product Type; Solubility Type; Application" report has been added to ResearchAndMarkets.com's offering.
The North America market was valued at US$ 934.9 million in 2018 and is projected to reach US$ 1,451.9 million by 2027; it is expected to grow at a CAGR of 5.0% from 2019 to 2027.
Water soluble packaging refers to the type of packaging made from biodegradable materials that dissolve in water leaving behind a harmless and non-toxic aqueous solution. It is best suited for water owing to its better solubility in water with minimum residue and good impact resistance. However, Water soluble packaging is manufactured in different grades, including cold water and hot water soluble PVA grades. Water soluble packaging products such as films, bags and pouches are manufactured using polyvinyl alcohol (PVOH), which is a synthetic polymer highly soluble in water. Water soluble packaging is mainly used in the packaging of dyes, detergents, agrochemicals, and other industrial chemicals.
Additionally, they are used in the manufacture of disposal bags, laundry bags, and shopping bags. Water-soluble packaging is considered to be an environment friendly alternative over single-use plastic. The growth in various industries and factories has increased the demand for a sustainable packaging solution over the past few years. As the packaging industry has the biggest impact on the environment, the demand for eco-friendly packaging solutions drives the growth of water soluble packaging market.
Based on raw material, the North American water soluble packaging market is segmented into polymers, fibers and surfactants. In 2018, the polymers segment held the largest share of the North America water soluble packaging market; however, the fibers segment is expected to grow at the highest CAGR during the forecast period. Water soluble polymers are environmentally biodegradable and thus help in effective waste management and environmental protection. Polymers are extensively used in the production of water soluble packaging products such as bags, pouches, pods, and films.
For instance, polyvinyl alcohol (PVA or PVOH) is used in manufacturing water soluble bags and films, as it dissolves fast when it comes into contact with water. Furthermore, its biodegradable and non-toxic properties propel its usage in the water soluble packaging production. Fiber-based packaging utilizes reusable, renewable, and biodegradable materials in the process of production. Fibers such as seaweed and collagen are used as a raw material in the production of water soluble packaging. Surfactants are one of the key raw materials in the production of water soluble packaging products such as films, bags, and pouches.
Overall size of the North American water soluble packaging has been derived in accordance to primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Additionally, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America water soluble market.
Reasons to Buy
- Highlights key business priorities to assist companies realign their business strategies.
- Features key findings and crucial progressive industry trends in the North America water soluble packaging market, thereby allowing players to develop effective long-term strategies.
- Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
- Scrutinizes in-depth market trends as well as key market drivers and restraints.
- Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
- Ban on Single-Use Plastics
- Rising Demand for Sustainable Packaging
- High Production Cost of Water Soluble Packaging
- Increasing Demand for Personal Care and Cosmetic Application
- Introduction of Plant-Based Raw Material Sources for Production of Water Soluble Packaging
- Cortec Corporation
- Smart Solve Industries
- Kuraray Co., Ltd
- Amtopack, Inc.
- Sekisui Chemical Co., Ltd.
- Mitsubishi Chemical Corporation
- Mondi Group
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