As per the report published by Allied Market Research, the global water soluble films market was pegged at $352.0 million in 2020, and is expected to reach $644.7 million by 2030, growing at a CAGR of 6.3% from 2021 to 2030.

Rise in demand from pharmaceutical industry, surge in use in detergent packaging, and increase in inclination toward agriculture have boosted the growth of the global water soluble films market. However, high production cost hinders the market growth. On the contrary, consumable water-soluble films are expected to open new opportunities for the market players in the future.

The report segments the global water soluble films market on the basis of product type, dissolution rate, end use, and region.

Based on product type, the cold water soluble films segment held the lion’s share in 2020, accounting for more than half of the market. In addition, the segment is projected to manifest the highest CAGR of 6.5% from 2021 to 2030. The report includes an analysis of the hot water soluble films segment.

On the basis of end use, the pharmaceutical & healthcare segment is expected to register the highest CAGR of 6.8% during the forecast period. However, the consumer goods segment dominated the market in 2020, contributing to nearly two-fifths of the market.

The global water soluble films market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2020, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is anticipated to portray the highest CAGR of 7.2% during the forecast period.

The global water soluble films market report includes an in-depth analysis of the prime market players such as KURARAY Co. Ltd., Mitsubishi Chemical Corporation, AICELLO Corporation, Sekisui Specialty Chemicals, Cortec Corporation, Arrow GreenTech Ltd., ACEDAG Ltd., Soluble Technology Limited, Joyforce Chemical Industrial Co., Ltd., and Jiangmen Cinch Packaging Materials Co., Ltd.