Water Soluble Films Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Water-Soluble Films Market Report is Segmented by Type (Cold Water-Soluble Films and Hot Water-Soluble Films), Dissolution Rate (Fast Soluble Films, Medium Soluble Films, and Difficult Soluble Films), End-User Industry (Packaging, Textile, Pharmaceuticals and Healthcare, and Other End-User Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The Market Size and Forecasts are Provided in Terms of Revenue (USD) for all the Above Segments.

Water Soluble Films Market Size

Water Soluble Films Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 431.82 Million
Market Size (2029) USD 565.44 Million
CAGR (2024 - 2029) 5.54 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Water Soluble Films Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Water Soluble Films Market Analysis

The Water Soluble Films Market size is estimated at USD 431.82 million in 2024, and is expected to reach USD 565.44 million by 2029, growing at a CAGR of less than 6% during the forecast period (2024-2029).

Different end-user sectors contributed to the market in different ways during the COVID-19 pandemic. Owing to its dependence on textiles, composite molding, and other factors, the water-soluble film market was negatively impacted in the wake of COVID-19. Meanwhile, the packaging, pharmaceutical, and healthcare sectors have contributed to the overall growth of the market.

The increasing demand for water-soluble laundry bags in the healthcare sector and the surging demand from detergent and agrochemical packaging applications are expected to drive market growth.

On the flip side, limitations associated with water absorption properties, such as difficult processibility and inconsistent quality, are expected to hinder the growth of the market.

Growing regulatory strictness to curb plastic pollution is expected to act as an opportunity for market growth in the future.

North America accounted for the highest market share, whereas Asia-Pacific is likely to register the highest growth rate in the market during the forecast period.

Water Soluble Films Market Trends

Packaging Industry to Dominate the Market

  • Packaging is the major end-user industry for water-soluble films, as the film offers excellent sealing and deep drawing properties while being completely soluble even in cold water. They are considered biodegradable, non-toxic, and non-inhibitory.
  • Water-soluble films are used for packing laundry detergents, dish-washing tablets, cleaning products, swimming pool products, agrochemicals, dyes, fertilizers, cement, food additives, fish bait, seeds, soiled clothes, toilet blocks, powder, liquid detergents, etc.
  • Water-soluble films have good air barriers and offer effective resistance to oil. These films help preserve food for a longer time and keep the food fresh. Additionally, water-soluble films deliver savory flavors to meat products during cooking.
  • The usage of water-soluble films in the packaging of dyes, cement additives, and enzymes is increasing to minimize pollution and provide a consistent dose during the product’s manufacturing process. The mixing operations have become simple using water-soluble films, and the additive measures are more exact.
  • Moreover, water-soluble films encapsulate the entire terminal tackle with dry feed such as crushed boilies and pellets. These water-soluble bags are trendy owing to their strength, high melt rate, and ability to ‘lick’ and stick’ the corners to create aerodynamic water-soluble film parcels for casting. When water-soluble film bags are used to package baits and hooks for deep-water fishing, they prevent interference by fishes in shallow water areas and attract larger fishes for deep-water fishing.
  • Another major application of water-soluble films is liquid detergent packaging. This application uses water-soluble film packaging to deliver unit dosages of liquid detergent products. Active concentrate of liquid detergent ingredients is packed in water-soluble films.
  • The market is driven by the increased usage of environmentally friendly materials in packaging. Eco-friendly packaging is recyclable, biodegradable, reused, and non-toxic, with a low environmental impact.
  • In January 2024, Arrow Greentech Limited (AGTL) announced that it received a grant for a patent titled ‘Improved Water-Soluble Film and Method of Making the Same’ under Patent No. 480889 from the Indian Patent Office. This improved water-soluble film is used in the packaging industry, as it is safe for the environment. Also, these quality films can be used for packaging different active ingredients, such as pharmaceuticals and aggressive agrochemicals, in powder and liquid formats of higher volumes.
  • Thus, with the increasing demand for customized products and minimizing chemical wastage to improve environmental health, the demand for water-soluble films in packaging is growing at a rapid rate.
Water Soluble Films Market, Revenue in USD Million, Packaging, Global, 2019-2029

North America to Dominate the Market

  • The United States is the largest market for water-soluble films and is expected to account for around 78% of the share in 2024.
  • Water soluble films are an ideal preference for packaging applications in the pharmaceutical industry due to their high solvent resistance and gas barrier properties. The changing trends in consumer behavior and the manufacturer’s easier convenience benefitted the industries to grow faster in the country, further benefitting the water-soluble films market.
  • Some companies catering to the water-soluble films market in the United States are Sekisui Specialty Chemicals America, Kuraray Co. Ltd, Medanos Claros HK Limited, and Aicello Corporation.
  • The Canadian water-soluble films market may also see a significant growth rate during the forecast period due to increasing demand from detergent packaging and pharmaceutical industries. The surge in consumer demand for user-friendliness and convenience plays a pivotal role in the market for water-soluble detergent pods.
  • Water-soluble bags are also hitting the Canadian end-user sectors as the country fights to replace traditional plastics, thus creating a demand for water-soluble films. As of October 2020, the Canadian government issued an inclusive plan to completely phase out single-use plastics by 2030.
  • According to the Canadian Institute for Health Information, Canada’s total health expenditure was around USD 344 billion in 2023, an increase of 2.3%. The total health spending was around 12.1% of Canada’s gross domestic product (GDP) in 2023. The Canadian government is expected to spend USD 200 billion on healthcare over the next ten years. So, given the crucial role of water-soluble laundry bags in controlling the spread of contamination from soiled clothes and bedsheets in hospitals, it is expected that this development may stir an escalation in the demand for water-soluble films in the country.
  • Mexico holds a substantial laundry care market, with the expanding hospitality sector supporting the consumption of detergents in hotels. Brands like Ariel, ACE, and Persil are some of the prominent laundry detergent pods used in the country’s homes and hospitality industry.
  • The market studied is expected to find positive prospects in the textile industry. According to the International Trade Administration (ITA), textile production accounted for 3% of Mexico’s manufacturing GDP in 2022. The country is a major textile producer with an annual export of textiles worth around USD 7 billion.
  • Such trends are likely to impact the market’s growth in North America over the forecast period.
Water Soluble Films Market - Growth Rate by Region

Water Soluble Films Industry Overview

The water-soluble films market is partially fragmented, with top-level players accounting for a sizeable share of the global market. The major players (not in any particular order) include Kuraray Co. Ltd, Ecopol SpA, Mitsubishi Chemical Group Corporation, Sekisui Chemical Co. Ltd, and Aicello Corporation.

Water Soluble Films Market Leaders

  1. KURARAY CO., LTD.

  2. Ecopol SpA

  3. Mitsubishi Chemical Group Corporation

  4. SEKISUI CHEMICAL CO., LTD.

  5. AICELLO CORPORATION

*Disclaimer: Major Players sorted in no particular order

Water Soluble Films Market Concentration
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Water Soluble Films Market News

  • September 2023: SK Capital acquired a majority interest in Ecopol SpA and completed a strategic investment in the company. SK Capital announced the formation of a new board of directors, which includes industry leaders with ample experience across the markets of sustainable materials and consumer packaged goods (“CPG”) in Ecopol’s value chains.
  • April 2023: Camm Solutions acquired the production company Green Cycles in Valencia, Spain. At the same time, there has been a change in management, which led to the addition of research and development, strengthening production.

Water Soluble Films Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Demand From Detergent and Agrochemical Packaging Applications

      2. 4.1.2 Increasing Demand for Water-soluble Laundry Bags in the Healthcare Sector

    2. 4.2 Restraints

      1. 4.2.1 Limitations Associated With the Water Absorption Properties

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Type

      1. 5.1.1 Cold Water-soluble Films

      2. 5.1.2 Hot Water-soluble Films

    2. 5.2 Dissolution Rate

      1. 5.2.1 Fast-soluble Films

      2. 5.2.2 Medium-soluble Films

      3. 5.2.3 Difficult-soluble Films

    3. 5.3 End-user Industry

      1. 5.3.1 Packaging

      2. 5.3.2 Textile

      3. 5.3.3 Pharmaceutical and Healthcare

      4. 5.3.4 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 France

        3. 5.4.3.3 United Kingdom

        4. 5.4.3.4 Italy

        5. 5.4.3.5 Benelux

        6. 5.4.3.6 Austria

        7. 5.4.3.7 Czech Republic

        8. 5.4.3.8 Poland

        9. 5.4.3.9 Hungary

        10. 5.4.3.10 Switzerland

        11. 5.4.3.11 Nordic

        12. 5.4.3.12 Slovakia

        13. 5.4.3.13 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Morocco

        4. 5.4.5.4 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 AICELLO CORPORATION

      2. 6.4.2 Arrow Greentech Ltd

      3. 6.4.3 Cortec Corporation

      4. 6.4.4 ECOMAVI SRL

      5. 6.4.5 Ecopol SpA

      6. 6.4.6 Green Cycles

      7. 6.4.7 Guangdong Proudly New Material Technology Co. Ltd

      8. 6.4.8 Foshan Polyva Materials Co. Ltd

      9. 6.4.9 Kuraray Co. Ltd

      10. 6.4.10 Mitsubishi Chemical Corporation

      11. 6.4.11 Noble Industries

      12. 6.4.12 Sekisui Chemical Co. Ltd

      13. 6.4.13 Soltec Development

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Regulatory Strictness to Curb Plastic Pollution

**Subject to Availability
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Water Soluble Films Industry Segmentation

Water-soluble films are thin and transparent films that dissolve quickly and completely in water. They are naturally biodegradable through microbial action, leaving no residue or harmful waste behind. Polyvinyl alcohol (PVA or PVOH) is predominantly used in developing water-soluble films that are used in the form of protective films or bags in various applications, including packaging (laundry detergents, food, agrochemicals, cement, additives, fish bait, etc.), pharmaceuticals and healthcare, textile, and other sectors. Water-soluble films, owing to their easy biodegradability, have less impact on the environment when compared to other ordinary plastic films.

The water-soluble films market is segmented by type, dissolution rate, end-user industry, and geography. By type, the market is segmented into cold-water-soluble films and hot-water-soluble films. By dissolution rate, the market is segmented into fast-soluble films, medium-soluble films, and difficult-soluble films. By end-user industry, the market is segmented into packaging, textile, pharmaceutical and healthcare, and other end-user industries. The report also covers the market sizes and forecasts for 23 countries across the major regions.

For each segment, the market sizing and forecasts have been done based on revenue (USD).

Type
Cold Water-soluble Films
Hot Water-soluble Films
Dissolution Rate
Fast-soluble Films
Medium-soluble Films
Difficult-soluble Films
End-user Industry
Packaging
Textile
Pharmaceutical and Healthcare
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Benelux
Austria
Czech Republic
Poland
Hungary
Switzerland
Nordic
Slovakia
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Morocco
Rest of Middle East and Africa
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Water Soluble Films Market Research FAQs

The Water Soluble Films Market size is expected to reach USD 431.82 million in 2024 and grow at a CAGR of 5.54% to reach USD 565.44 million by 2029.

In 2024, the Water Soluble Films Market size is expected to reach USD 431.82 million.

KURARAY CO., LTD., Ecopol SpA, Mitsubishi Chemical Group Corporation, SEKISUI CHEMICAL CO., LTD. and AICELLO CORPORATION are the major companies operating in the Water Soluble Films Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Water Soluble Films Market.

In 2023, the Water Soluble Films Market size was estimated at USD 407.90 million. The report covers the Water Soluble Films Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Water Soluble Films Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Water Soluble Films Industry Report

Statistics for the 2024 Water Soluble Films market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Water Soluble Films analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Water Soluble Films Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)