Global Edible Packaging Market is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Highest Growth
- Vikas Kumar
- September 29, 2021
- CONSUMER GOODS, NEWS
- Edible Packaging Market, Edible Packaging Market Growth, Edible Packaging Market News, Edible Packaging Market share, Edible Packaging Market Size, Edible Packaging Market Trend
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Global edible packaging market is expected to reach the market valuation of USD XX billion by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2028) from USD XX billion in 2020. Edible packaging is the type of wrapping or coating that is used for covering various food materials and drugs. These are made up of film-forming material, plasticizers, and additives.
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The product used to wrap or protect goods, including food, beverages, medication, and cosmetic products is called packaging. Different packaging products provide sales & marketing benefits. However, the waste generated by these packaging and packaging materials is enormous and represents a major part of the total global waste that includes single-use plastic food packaging. For instance, in 2018, the packaging waste generated in the EU was estimated at 174.1 kg per inhabitant varying from 67.8 kg per inhabitant in Croatia and 227.5 kg per inhabitant in Germany. Also, in the EU, During 2008-2018, paper and cardboard was the leading packaging waste material with around 31.8 million tonnes in 2018. This material is followed by plastic and glass generating 14.8 million tonnes & 14.5 million tonnes of waste in 2018, respectively. Owing to the increasing waste generation coupled with lowered recycling rate is causing a negative impact on the earth’s environment which in turn is driving the growth of the edible packaging market as it helps in reducing the packaging waste.
Furthermore, the edible packaging market is witnessing an uptick because of the fast-paced modern lifestyle and high-income levels of the consumers in the region have led to a rise in the consumption of processed food products. For instance, processed foods products account for more than 60% of the American diet. However, some of the major restraints in the market include the high regulatory guidelines, high cost of manufacturing edible packaging, and the low tensile strength of this packaging in comparison to traditional plastics are impeding the growth of this market globally.
For a detailed analysis of the market drivers of edible packaging browse through https://univdatos.com/get-a-free-sample-form-php/?product_id=9958
Based on material type, the market is divided into proteins, polysaccharides, lipids, composite films, and others. The proteins segment dominated the edible packaging market and grabbed XX% market share in 2020 and will witness a considerable CAGR of XX% during the forecast period (2021-2027F) as protein films are frequently used for packaging as they have better mechanical properties. For instance, Casein from milk protein is an effective oxygen blocker that prevents spoiling of food and is being as a great substitute for plastic films and food coatings.
Based on source, the global edible packaging market is segmented into plant and animal. The plant segment occupied the largest share and is expected to grow at a CAGR of XX% during the forecast period 2021-2027. The segment generated revenue of US$ XX billion in 2020 owing to the growing demand for plant-based packaging among manufacturers and consumers. Fibrous vegetables, starch, carbohydrates, and seaweed are some of the most common plant sources.
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Additionally, the report provides detailed report also provides insights of global edible packaging market according to the regions such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of USD XX billion in 2020 owing to an overall increase in consumer awareness and a rise in the consumption of processed food products in the region. At the same time, Asia-Pacific is also identified as a potential market offering significant growth opportunities for several market players in the global edible packaging market.
Ingredion, JRF Technology LLC, Evoware, Bluwrap, Tate & Lyle Plc., MonoSol LLC, WikiCell Designs Inc., Devro plc, Tipa Corp, Nagase America LLC, Inc. are some of the key players operating in the global edible packaging market. Several M&As along with partnerships have been undertaken by these players to develop new edible packaging material.
Global Edible Packaging Market Segmentation
Market Insight, by Material Type
- Composite films
Market Insight, by Source
Market Insight, by End-Use
- Food & Beverages
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- JRF Technology LLC
- Tate & Lyle Plc.
- MonoSol LLC
- WikiCell Designs Inc.
- Devro plc
- Tipa Corp
- Nagase America LLC