Edible Films and Coatings Market: Current Analysis and Forecast (2022-2028)

Report Description

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The Edible Films and Coatings Market is expected to grow at a CAGR of 7% during the forecasted period (2022-2028). This is mainly due to the increasing focus on the reduction of packaging waste as well as an increase in the government initiatives to reduce the carbon footprint and consumers’ greater willingness to accept eco-friendly packaging options will drive the growth of the market. Moreover, green packaging has become more popular in most nations owing to the rising environmental concerns coupled with rising energy and transportation expenses. Furthermore, consumption of ready-to-eat food has increased due to the consumers’ busy lifestyles, which has also increased the demand for edible films and coatings.

Some of the major players operating in the market include Bayer AG, H.C. Starck GmbH, AGC SEIMI CHEMICAL CO. LTD., BASF SE, DuPont, Merck & Co. Inc., Evonik Industries AG, Sumitomo Chemical Co. Ltd., Heliatek GmbH, and Novaled GmbH.

Insights Presented in the Report

“Amongst ingredients type, polysaccharides are expected to witness the highest CAGR during the forecast period”

Based on the ingredient type, the market is categorized into protein, polysaccharides, lipids, and composites. Polysaccharides hold a significant share in the market. The moisture barrier characteristics of polysaccharide-based films and Coatings are poor, although O2 and CO2 permeability are moderately less. Fruits and vegetables can benefit from polysaccharides because they alter the interior environment of the food product, extending its shelf life.

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“Amongst application, fruits and Vegetables are expected to witness the highest CAGR during the forecast period”

Based on application, the market is categorized into dairy products, bakery and confectionery, fruits and vegetables, meat, poultry, seafood, and other applications. Fruits and vegetables hold a significant share in the market. The edible coatings are widely used for fruits and vegetables as it helps to maintain the textural qualities, mass transfer in fruits and vegetables, lessen oxidative reactions on fruits and vegetables, and increase glossiness and shine on fruits and vegetables.

“North America to witness significant growth during the forecast period”

North America is expected to hold the largest growth rate in the global market during the forecast period owing to the existence of global counterparts, the accessibility of edible films and coatings materials, and consumers’ willingness to pay for goods will all contribute to the market expansion of this area. Furthermore, supportive government regulations and R&D activities for edible films and coatings is further expected to drive the market. For instance, as per the U.S. FDA – Code of Federal Regulations – Sec. 172.210 (Coatings on fresh citrus fruit), coatings may be applied to fresh citrus fruit for the protection of fruit. The coating is applied in the minimum amount required to accomplish the intended effect. Further, coatings may be formulated from the components approved by authorities with each used in the minimum quantity required to accomplish the intended effect.

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Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

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The Global Edible Films and Coatings Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Global Edible Films and Coatings Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global edible films and coatings were the three major steps undertaken to create and analyze the adoption of edible films and coatings in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global edible films and coatings market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:   

Detail secondary study was conducted to obtain the historical market size of the edible films and coatings through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of edible films and coatings, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as ingredient type and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the edible films and coatings industry. Further, we conducted factor analysis using dependent and independent variables such as ingredient type and application. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the edible films and coatings sector across the globe.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global edible films and Coatings, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the edible films and Coatings   across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global edible films and coatings market in terms of ingredient type and application Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

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Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global edible films and coatings market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of ingredient type and application, in the global edible films and Coatings market.

The main objective of the Global Edible Films and Coatings Market Study

The current & future market trends of the global edible films and coatings were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the edible films and coatings market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of ingredient type and application.
• Define and analysis of the regulatory framework for the edible films and coatings industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the edible films and coatings for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the world.
• Company profiles of the edible films and coatings market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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