Water Soluble Bag Market Report

The water-soluble bag market is not only booming in traditional industries but also searching for opportunities in various markets. A market like hospitality is expected to be a lucrative market for the water-soluble bag market. According to the data of the National Library of Medicine, the global market for the hospitality industry, which primarily includes hotels, casinos, restaurants, cruise ships, accommodations, etc., was more than US$ 4.6 trillion and is expected to reach the height of US$ 4.8 in the coming years. Thus, the rising demand for the hospitality industry can be considered a great opportunity for the water-soluble bag market. Also, the rising agricultural industry can be considered an opportunity due to its growing industry need. According to the data of the Organization for Economic Co-operation and Development, global food consumption, specifically the main use of agricultural commodities, is forecasted to grow by 1.3% per year for the next decade (2023-2032). The rising food industry can also be a good opportunity for the water-soluble bag market.

The first and foremost challenge that is faced by various manufacturers is the rising awareness about alternative products as well as environmental concerns. Alternative products such as bioplastic are getting famous due to their features. As it is made from natural items, it has higher acceptability compared to a water-soluble bag. Also, the problem of the residue of the bags has been acting as a restraint factor, where the remaining part of the bags may affect the ecosystem and indirectly affect the demand for the water-soluble bag market. Also, maintaining consistent quality also acts as a restraining factor, as due to rising demand, and to fulfill that demand, the manufacturers need to scale up the production, which may hamper the quality of the product. Also, the problem faced by various users is related to the storage. The problem faced by various users is that it is not suitable for long-term storage, as it can dissolve if exposed to moisture for an extended period.

In September 2022, a new garment bag from U.K. outdoor clothing brand Finisterre was said to literally "Leave No Trace." The company, which was the first in its market to be named a B Corp business—a certification that measured a company's entire social and environmental impact—had been, since its beginning in 2003, committed to the belief that it could make a truly exceptional product in a more responsible and sustainable way. In October 2019, hot water-soluble laundry bags, made from Aquapak polymer, were launched by Australian distributor DB Packaging. The bags could be used to contain dirty or contaminated laundry and could be put directly into washing machines without the risk of direct human contact. As the bags dissolved safely in hot water, there was no plastic residue to dispose of or that could potentially cause machine breakdown. While retaining all the functionality of traditional plastic bags, they were also non-toxic, marine-safe, and biodegradable.

The demand for the water-soluble bag market is expected to grow more due to the rising pharmaceutical industry in North America. North America can be considered a lucrative market as the country faces some common diseases such as chronic obstructive pulmonary diseases, diabetes, Alzheimer's, etc. According to the data of the European Federation of Pharmaceutical Industries and Associations, North America in 2022 accounted for 52.3% of world pharmaceutical sales, and also in 2017-2022, a total of 64.4% of sales of new medicine were launched on the US market. Due to this factor, North America can be considered a lucrative market for the water-soluble bag market. It also may gain traction in European countries as it has strictly banned the use of single-use plastic. This may be an advantage for the water-soluble bag market as these regulations create an eco-friendly environment. Thus, the rising need for packaging needs to be fulfilled by the water-soluble bag market in European countries. Thus, strict regulation and stringent policies for plastic usage open up the opportunity for the water-soluble bag market