According to Market Research Future (MRFR), the global edible packaging market is projected to witness significant growth by 2027, registering an impressive CAGR during the forecast period (2020-2027). Factors substantiating the market growth include rising population and improving economic conditions that increase consumer’s purchasing power.
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Additionally, the rapidly growing pharmaceutical and food beverages sectors worldwide contribute to the overall market growth. Restricted use of plastic packaging material has become the major reason for the rising demand for edible packaging. Simultaneously, government initiatives for promoting eco-friendly packaging materials provide a huge impetus to market growth.
Brands and manufacturers confront endless choices and tradeoffs when it comes to food packaging. Rising demand for more sustainable packaging solutions that look the most natural and have less plastic and less material overall influences the market growth.
From a packaging perspective, the assessment of sustainability becomes more complex for food contents. Furthermore, plastic packaging, one of the biggest sources of greenhouse gas emissions when mismanaged and wasted, creates substantial market demand.
Factors Affecting Edible Packaging Market
Key players in the market incur more expense on packaging innovation instead of on production cost and come up with several developments in technology such as the usage of nanotechnology in packaging as well as the addition of healthy proteins in the edible food packaging are likely to give several opportunities to the edible packaging market. This also has a positive impact on the growth of the market.
Moreover, edible packaging results in reduced waste, assure product stability and gives safety to the product. High regulatory demands with the expensive cost of edible packaging, are some of the factors which cause inhibition in the expansion of the market.
Global Edible Packaging market is very competitive because of several large and small enterprises playing across the regional market. The most important strategies traced from the analysis of recent advancements of the key players include acquisition and expansion, agreement partnership,product launch. Apart from this, companies are also spending on brand building,RD, and creating strong relationships with customers to aid their competitive position.
For these innovations to have a longer life, it must be noted that the contribution to the present packaging waste must be stopped. After the analysis, it was concluded that these solutions do exactly that- tackle issues from single-use plastic straws to supporting marine life sustainability. It can be deduced that edible packaging can lessen and control plastic waste but it is all dependent on the consumer or retailer, for how long they would be willing to entertain it.
Global Edible Packaging – Market Segments
The MRFR analysis is segmented into materials, applications, and regions. The material segment is sub-segmented into lipid, polysaccharides, protein films, and others. Among these, the lipid segment accounts for the largest market share, witnessing extensive uses of neutral glycerin lipids acting as a barrier against oxygen, water vapors and protecting the food from getting contaminated.
However, the protein film segment is expected to grow at the highest CAGR during the forecast period. The application segment is sub-segmented into pharmaceuticals, food beverages, and other industries. By regions, the market is sub-segmented into Americas, Asia Pacific, Europe, and rest-of-the-world.
Global Edible Packaging Market – Geographical Analysis
North America dominates the global edible packaging market. The largest market share attributes to the higher disposable income, driving significant demand for efficient packaging of meat, poultry, and seafood. Furthermore, the burgeoning e-commerce industry fueled by the increasing cross-border trade and huge demand for online shopping boost the edible packaging market size.
Europe is another promising market for edible packaging. Changing lifestyles and the increasing demand for bioactive packaging materials for meat, poultry, and seafood packaging in the region are major edible packaging market trends. Moreover, the emergence of inexpensive eco-friendly packaging technologies substantiates the edible packaging market growth.
The Asia Pacific edible packaging market accounts for a substantial share. Factors such as rapidly spreading awareness about the growing environmental concerns and adverse effects of plastic packaging drive the market growth. Besides, huge exports of pharmaceuticals and food beverages from China and India foster the region’s edible packaging market share.
Global Edible Packaging Market – Competitive Analysis
The highly competitive edible packaging market appears fragmented due to several big small market players forming a competitive landscape. Key players are adopting the strategic trends of business expansion in emerging markets.
Manufacturers rely on innovation to survive and create new markets. Therefore, they keep themselves abreast of the new technological developments and latest consumer trends by developing human capital. They don’t hesitate to continually invest their time money into the new age developers for the latest technologies which can increase productivity and add value.
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Major Players
Eminent leaders fostering the global edible packaging market include WikiCell Designs Inc. (U.S.), Nagase Co. Ltd. (Japan), JRF Technology, LLC (U.S.), Tipa Corp (Israel), Interpack (U.S.), Pace International LLC (U.S.), Ingredion Inc (U.S.), Safetraces, Inc. (U.S.), Dupont de Nemours and Company (U.S.), Tate Lyle Plc. (U.K), Coveris Holdings, (U.S.), MonoSol, LLC (U.S.), Evoware (Indonesia), Watson, Inc. (U.S.), and Devro plc (U.K).
Industry/ Innovation /Related News:
May 21, 2021 --- Researchers at Fraunhofer-Gesellschaft announced the development of an innovative and sustainable solution for food packaging as part of the Bioactive Materials project. This eco-friendly coating for paper packaging can make wrapping paper and re-sealable bags for fresh, cooked, or frozen foods.
The team made the coating from protein and waxes with bio-based additives. They are applied in liquid form using standard roll-to-roll technology. These new packaging solutions keep the food fresh for longer, and the antioxidants in the coating even extend the shelf life of the food.
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