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The water soluble film market is envisaged to grow steadily at a CAGR of more than 5% over the forecast period. With the increasing demand for agrochemicals, the market for water soluble film is expected to have a positive outlook in the coming years. The changing weather patterns and increasing demand from farmers have led to an increasing adoption of agrochemicals for crop production. These chemicals are hyper toxic and are available in the form of a highly concentrated solution, the consumption of which has several health hazards. Water soluble films reduce the chances of such contamination of the product. Overall, water soluble films for agrochemical packaging have several advantages including protection of seeds from wind erosion or being eaten by animals, moisture retention in seeds and allowing them to develop at equal interims, and reduction in the chances of direct contact with toxins.
The increasing use of water soluble films in detergent packaging is one of the emerging trends spurring the growth prospects for this market over the forecast period. Water soluble films are used in the unit packaging of modern-day detergents and other laundry aids. Such detergent packs can be directly introduced in a washer. The water acts a plasticizer and the film containing hygroscopic substances are plasticized. In terms of product differentiation, these detergent packages are biodegradable and provide a competitive edge over companies selling detergents in ordinary packets. Moreover, water-soluble films for detergent packaging also help in cost saving, which will impel this market’s growth over the next four years.
During 2015, the detergent packaging segment led the global water soluble film market and accounted for more than 31% of the market share in terms of revenue. The growth of this segment attributed to the introduction of innovative packaging designs, new product launches, and increasing urbanization and disposable income of people around the world.
North America led the global water soluble film market and is likely to reach more than USD 136 million by 2020. The majority of demand for water soluble films is expected from the US while the demand from other countries is anticipated to decline because of the maturing markets in the region. The increasing demand for packaged foods, beverages, and personal care products with visually appealing labels is one of the key factors driving this market’s growth in the North American region.
The global water soluble film market is highly fragmented and competitive due to the presence of several well diversified global and regional providers. There is intense competition among the market vendors in terms of product differentiation, portfolio, and pricing. The presence of a limited number of players and low entry barriers will result in the entry of many new players in the market during the forecast period.
Key vendors in this market are -
Other prominent vendors in this market are AMC, Amtrex Nature Care, Changzhou Water Soluble, Cinch Packaging Materials, Extra Packaging, HARKE Group, Huntingdon Fusion Techniques, INFHIDRO, KK NonWovens, Neptun Technologies, Noble Industries, Soluble Technology, Soluclean, and Yongan SYF.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Market segmentation by material
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Other prominent vendors
PART 15: Appendix
PART 16: Explore Technavio
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