Water Soluble Films Market driven by Food Industry Application
The water soluble films market comprises a type of film made from polyvinyl alcohol (PVA) or polyvinyl acetate which can dissolve in water when heated. This type of films offers several advantages like portability, storage & transport convenience. They are extensively used in detergent packaging, agrochemical packaging, laundry bags, unit dose packaging and water treatment chemicals packaging.
The Global Water Soluble Films Market is estimated to be valued at US$ 470.18 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the water soluble films market are Givaudan SA, International Flavors & Fragrances Inc., Firmenich SA, Symrise AG, Takasago International Corporation, Sensient Technologies Corporation, T. Hasegawa Co., Ltd., Kerry Group, Mane SA, and Huabao International Holdings Limited. The demand for water soluble films is growing significantly mainly due to its rising application in food industry for packaging of ingredients, capsules, sachets and wrappers. Major companies are also expanding their global footprint to leverage growth opportunities in emerging markets of Asia Pacific and Latin America.
Market drivers
The primary driver for the growth of Water Soluble Films Market Trends is its increasing application in food industry for packaging of different products. It is a convenient way to package water-soluble ingredients like flavors, vitamins, minerals and other supplements. The product effectively protects the contents from light, moisture and other environmental damages during storage and transportation before use. Its eco-friendly properties and ability to dissolve completely in water also make it an attractive substitute to conventional plastic packaging materials. This is increasingly pushing several food brands to adopt water soluble films.
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