Edible Packaging Market Growth Rate, Trends, Analysis, Future scope, Size, Share, Forecast to 2023
Edible Packaging Market provides information on
Global Edible Packaging Industry Size, Share, Trends, Growth, Regional Analysis
and Segmentation By Material (Polysaccharides, Lipid, Protein Films and
Others), by End User (Food & Beverage, and Pharmaceutical) and by Region –
Forecast To 2023
Market Scenario
Edible
packaging is a sheet of edible coating, which is layered with a food
ingredient. Hence, anyone can eat the food with its package. It increases the
shelf life of the product due to its high barrier resistance. Edible packaging
is also useful in cargo packaging due to its high tensile strength. Major
players in the market spend more on packaging innovation rather than on
production cost and come up with various advancements in technology such as the
introduction of nanotechnology in packaging as well as the addition of healthy
proteins in the edible food packaging are expected to provide numerous
opportunities to the edible packaging market. This also has a positive
influence on the growth of the market. Additionally, edible packaging helps in
reducing waste, creates product stability, and provides safety to the product.
However, high regulatory requirements, as well as high cost of the edible packaging,
are the major factor that may hinder the market growth.
On the
basis of the regions, North America region dominates the global edible
packaging market. Continuously growing pharmaceuticals industry in the North
American region have a positive influence on the growth of the market. The U.S.
holds the largest market share in the North American region. Asia Pacific is
expected to grow at the highest CAGR during the forecast period. Increasing
industrialization and urbanization along with growing demand for packed food is
driving the growth of the market. Additionally, availability of raw materials
and low labour cost show a positive influence on the market growth.
Global
edible packaging market is projected to grow at a CAGR of 6.2% during the
forecast period.
Key Players
The
prominent players in the edible packaging market include –
WikiCell
Designs Inc. (U.S.)
Tate
& Lyle Plc. (U.K.)
Safetraces
Inc. (U.S.)
JRF
Technology LLC (U.S.)
Tipa
Corp (Israel)
MonoSol
LLC (U.S.)
Watson
Inc. (U.S.)
Devro
plc (U.K.)
Interpack
(U.S.)
Evoware
(Indonesia)
Coveris
Holdigs (U.S.)
Dupont
de Nemours and Company (U.S.)
Ingredion
Inc (U.S.)
Nagase
& Co. Ltd. (Japan)
Pace
International LLC (U.S.)
Market Research Analysis
Global Edible
Packaging Market has been segmented based on
material, application and region. On the basis of the material, the market has
been segmented into polysaccharides, lipid, protein films and others.
Lipid-based edible packaging dominates the material segment of the market due
to their efficient use as a water-vapor barrier in edible films.
Polysaccharides are also expected to contribute significantly during the
forecast period. It is largely used in the pharmaceutical sector.
On the
basis of the application, the market has been segmented into food &
beverage, and pharmaceutical. The Food & beverage industry dominates the
application segment of the market and is expected to grow at the fastest CAGR
during the forecast period. Rising demand for packaged foods & beverages
including ready-to-eat meals, frozen meals, and snack foods. Increasing
consumer income in countries such as China, India, and Brazil, has led to a
growth in the demand for good-quality packaged food. The pharmaceutical
industry is also expected to contribute significantly to the market during the
forecast period. The rising income level, especially for the lower income
groups, along with the government commitments for providing basic health
facilities are projected to provide medicines at an affordable cost to the
populations, even in the developing regions. This is likely to drive the growth
of the pharmaceutical industry and will lead to more usage of the edible
packaging.
Scope
of the Report
This
study provides an overview of the global market, tracking three market segments
across four geographic regions. The report studies key players, providing a
five-year annual trend analysis that highlights market size, volume, and share
for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The
report also provides a forecast, focusing on the market opportunities for the
next six years for each region. The scope of the study segments the global
Edible Packaging market by its technology, product, end user, and region.
·
By Material
·
Polysaccharides
·
Lipid
·
Protein Films
·
Others
·
By Application
·
Food & Beverage
·
Pharmaceutical
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