The Water Soluble Packaging Market More and more of today’s consumers across the world are concerned with single-use plastics. Such plastic products are often more difficult to recycle or simply don’t get recycled, contributing to huge amounts of landfill waste and environmental degradation. With more advocacy for environmental issues, an increased awareness drives consumers to products with more environmentally friendly choices. In addition to this, an increase in awareness of the water soluble plastic products available boosts consumer trust in these alternatives. Conventional plastics are generally derived from petroleum products and cannot be broken down, whereas water soluble products are created using sugars from cornstarch and other agricultural by-products. This means that the plastics can easily biodegrade, decreasing waste and greenhouse gas production with less environmental impact. Due to these consumer trends in environmentalism, the water soluble packaging market is expected to grow significantly during the forecast period. Namely, this industry was valued at 2.8 billion in U.S. dollars for 2018 and is forecasted to grow at a compound annual growth rate of 4.8% through 2027.
Notable Industry Developments
North America was a dominant force for the global market for water soluble plastics. Consumer awareness of the issues is high here, and North American manufacturers continue to provide products for laundry soaps, dishwasher detergents, and many other industries.
Increasing interest and manufacturers in the Asia Pacific region means that this area is forecasted to see the highest rate of growth. Consumers here may be willing to pay higher prices for more eco-friendly products such as these, further fueling the industry growth in the region.
Polymers from plant sources and petroleum chemical sources are used in the water soluble plastics industry and in the raw materials segment, polymers hold a huge share of the whole market.
New product developments in the field, as well as governmental initiatives and consumer awareness will propel the water soluble plastics industry. Increasing investments in the industry and interest in more eco-friendly products in emerging markets will fuel a greater demand.
Contact SmartSolve Today If you’d like more information about what water soluble packaging can do for your product or industry, please contact SmartSolve at your earliest convenience. We can provide samples, quotes, and further insight into the quickly rising global market.