Pune, India, July 17, 2023 (GLOBE NEWSWIRE) -- The global edible packaging market size was valued at USD 680 million in 2022 and is projected to grow from USD 710 million in 2023 to USD 1,050 million by 2030, exhibiting a CAGR of 5.6% during the forecast period.
Edible and biodegradable packaging is referred to as edible packaging. It is primarily made of natural materials, plant-based, biodegradable that can be eaten without processing disposal, recycling, or packaging waste collection. It plays a significant role in providing consumers with an effective alternative to conventional packaging solutions. Packaging with edible materials meets the growing demand from consumers for maintainable products, increase shelf-life, and limits waste hence is expected to drive the edible packaging market share during the forecast period.
Fortune Business Insights™ provide this information in its report titled "Edible Packaging Market Size, Share and Report Forecast, 2023-2030."
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List of Key Players Mentioned in the Edible Packaging Market Report:
- XAMPLA (U.K.)
- Notpla Ltd. (U.K.)
- JRF Technology (U.S.)
- MonoSol, LLC (U.S.)
- Evoware (Indonesia)
- Biome Bioplastics (U.K.)
- Decomer Technology OÜ (Estonia)
- Lactips (France)
- FlexSea (U.K.)
- Nagase America (U.S.)
COVID-19 Impacts:
Stringent Lockdown Regulations Hindered Supply Chains and Market Growth
Globally, the COVID-19 pandemic affected every industry, including the packaging sector. Due to lockdown restrictions, the supply chains got affected negatively. However, essential products and clinical trials packaging sectors suffered a lesser impact than other markets. The rapid increase and demand for this type of packaging to combat the pandemic boosted market performance. Robust efforts by the packaging industry boosted market growth during COVID-19.
Segmentation:
Protein to Dominate the Segment with Varied Features
On the basis of material type, the market is segmented into proteins, lipids, and polysaccharides. Amongst all the packaging materials, the market dominated the segment globally. Proteins are excellent materials used to develop non-edible or edible coatings and films. The material is plant-based and is experiencing large demand owing to the features such as water vapor resistance, strong gas barrier, the ability to produce transparent and malleable films, and high immunity.
The Largest Share is Held by Films Owing to Product Protection and Safety
According to application, the market is segmented into coatings, spoons & forks, films, and others. The dominating segment of the global market films. Barrier and protection offered to food and pharmaceutical products is the crucial factor that drives the market growth. Films also enhance the quality of food products and safety and prolong their shelf-life and functionality.
Food and Beverages Segment Dominates the Market Owing to the Demand for Packaging of Food Products
As per end use, the market is divided into food & beverages (bakery & Confectionary, fresh food, dairy products, and others. The food and beverages segment dominates the global market. Packaging is mostly used in the food & beverage industries to package various items such as infant food, fresh food, dairy products, functional foods, bakery and confectionary, and many others.
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https://www.fortunebusinessinsights.com/edible-packaging-market-107722
Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Recent industry developments include product launches, partnerships, mergers, and acquisitions.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 5.6 % |
| 2030 Value Projection | USD 1050 Million |
| Market Size in 2023 | USD 710 Million |
| Historical Data | 2019-2021 |
| No. of Pages | 210 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Edible Packaging Market Growth Factors | Increasing Environmental & Product Safety Concerns to Propel Market Growth |
| An upsurge in Demand for Biodegradable Films and Portion-size Packaging Contribution to Drive Market Growth |
Drivers and Restraints:
Increase in Demand for Portion-size and Biodegradable Films Packaging to Propel Market Growth
The increasing consumption of ready-to-eat and processed products, changing preferences for hygienic products, and the growing levels, contribute majorly to the edible packaging market growth. The fast growth in urbanization in developing countries and the increase in population worldwide also bolster market growth. They are an important alternative to petroleum-based films and can be developed using proteins, lipids, and polysaccharides.
On the other hand, high costs and stringent requirements by the governments are predicted to hamper market growth.
Regional Insights:
Europe held the largest share to dominate the edible packaging market growth. Due to the rising awareness regarding the harmful effects of excessive use of plastic in this region.
North America is the second dominating region in the edible packaging industry due to the presence of key manufacturers, pharmaceutical industries, processed food, and increasing innovations in the market in this region.
Asia Pacific is the fastest-growing segment of the market. The reason for the growth in this region is the growing government policies make the region a proper fit for the market.
Competitive Landscape:
Market Players Focus on New Product Launches to Strengthen Market Position
Leading companies in the market companies are competing to increase their market share by providing solutions that are specific to particular sectors. These players strategically work with and take over local rivals to gain a solid regional footing. These companies prioritize developing innovative products and effective marketing strategies to capture a larger market share. It is projected that the growing volume of international trade will present lucrative opportunities for market players.
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Key Industry Development:
- October 2021: Gousto started the launch of an edible packaging solution. Stock cube wrapper was launched by Gousto and developed in partnership with Xampla, which is the first packaging which is edible, developed from pea protein globally.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
- Impact of COVID-19 on the Edible Packaging Market
- Global Edible Packaging Market Analysis (USD Million), Insights and Forecast, 2019-2030
- Market Analysis, Insights, and Forecast – By Material
- Protein
- Polysaccharides
- Lipid
- Others
- Market Analysis, Insights, and Forecast – By Product Type
- Films
- Coatings
- Spoon & Fork
- Others
- Market Analysis, Insights, and Forecast – By End Use
- Food & Beverages
- Fresh Food
- Bakery & Confectionary
- Dairy Products
- Others
- Pharmaceuticals
- Food & Beverages
- Market Analysis, Insights, and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Market Analysis, Insights, and Forecast – By Material
TOC Continued…!
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