Fairfield Market Research anticipates unabated growth for the approximately US$900 Mn edible packaging market during the period of assessment. Greater emphasis on sustainable packaging will drive market growth.
Market Analysis in Brief
The increased focus on sustainable practices has created a global demand for sustainable packaging. In this context, edible packaging has gained traction as an eco-friendly alternative to traditional packaging. Edible packaging materials are biodegradable and reduce plastic waste, which predominantly drives the progress of the edible packaging market. Government and regulatory bodies are also promoting the adoption of edible packaging owing to its sustainability attribute. Apart from this, edible packaging is highly convenient for consumers as it eliminates the need to dispose of the food packaging material.
Adding to its advantages, edible packaging also extends the shelf-life of perishable products and aids in maintaining their freshness, thus reducing food waste and improving the overall quality of food. Such trends are anticipated to strengthen revenue opportunities across the edible packaging market players. Meanwhile, key industry participants, to gain a competitive edge, are exploring innovative technologies and materials to produce visually appealing edible packaging.
Key Report Findings
Increased Focus on Reduced Packaging Waste
According to the Environmental Protection Agency (EPA), food containers and packaging contribute to approximately 30.2% of the household waste. Moreover, plastic packaging is harmful to the environment and takes time to recycle.
On the other hand, edible packaging can drastically reduce waste as individuals can consume the package too. Edible packaging consists of packaging films that are made up of vitamins, milk proteins, probiotic ingredients, and proteins. These ingredients also provide an oxygen barrier to the food, preventing it from being contaminated. Against this backdrop, the global edible packaging market is poised to witness robust expansion in the years to come.
Heightened Adoption of Processed Food Products
In today’s fast-paced world, individuals have a busy lifestyle. As a result, they are seeking processed food products as it saves time and is convenient. However, processed food products require a longer shelf-life. Edible packaging materials such as coatings or films are made from edible plant extracts or natural polymers. These materials can provide a protective barrier to the food and aid in maintaining its freshness and quality for longer durations. Therefore, the burgeoning demand for processed food products is expected to translate into revolutionary revenue opportunities for the edible packaging market.
Continuous Advancements in Technologies
Currently in its nascent stage, the edible packaging industry is experimenting with advanced technologies for product differentiation. Nanotechnological solutions such as multifaceted systems and nanoencapsulation, are among the latest production trends. These modern processes are expected to enhance the nutritional content present in the food product.
For instance, nanoencapsulation of active composites with edible coverings prevents moisture or heat from entering the food. Such advancements in the manufacturing of edible packaging are projected to stimulate robust growth across the global edible packaging market.
Hygienic Requisites Associated with Edible Packaging Transportation
On an upward growth trajectory, the global edible packaging market is restricted by various macro factors. A major hindrance is the sensitivity of edible packaging to environmental variables. Furthermore, edible packaging needs special handling during storage and transit as edible surfaces are also more prone to gather debris, bacteria, and other dangerous elements that might spoil the food product. The hygienic requirements required for the transportation of edible packaging increase their overall cost. This factor is expected to hamper the growth of the edible packaging industry.
Plant-based Sources Gain Momentum
Based on the source, the global edible packaging market is categorised into plant and animal. Over the forecast period, plant-based sources are estimated to hold the lion’s share. Plant-based sources are a more sustainable alternative to conventional packaging materials that are derived from fossil fuels. Additionally, plant-based packaging materials are biodegradable and compostable. This aligns with the current trend of eco-friendly packaging solutions.
Growth Opportunities Across Regions
North America Maintains a Strong Foothold
North America’s edible packaging market is estimated to emerge as the key regional player during the projection period. This is majorly attributed to the large consumer base in North America for edible packaging solutions. Local consumers in the region are preferring edible alternatives as compared to single-use plastics, to reduce packaging waste.
Motivated by similar sustainable reasons, the food and beverage manufacturers, and food service outlets are also incorporating edible packaging solutions. Edible packaging also enables vendors to incentivize through federal tax breaks. The accumulated momentum of these notable factors is enabling North America to gain a competitive edge in the global edible packaging market.
Leading Market Players
Key industry participants in the edible packaging market are implementing various strategies including new product launches, and strategic acquisitions and collaborations, to expand their consumer base while maintaining their market position.
Some of the international players catalysing the growth across the edible packaging market include Monosol LLC (US), Evoware (US), JRF Technology (US), Nagase America (US), Tipa Corp. (Israel), Avani (Indonesia), Notpla Ltd. (UK), Amtrex Nature Care Pvt. Ltd. (India), Wikicell Designs (US), Regeno Bio-Bags (India), EnviGreen Biotech Pvt. Ltd. (India), Apeel Sciences (US), Devro Plc (UK), Do Eat (Belgium), Coolhaus (US), Mantrose UK Ltd. (UK), Ecoactive (US), Tomorrow Machine (Sweden), Dental Development Systems LLC (US), and Lactips (France).
Recent Notable Developments
Regional Classification of the Global Edible Packaging Market is Described Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability
Key Elements Included In The Study: Global Edible Packaging Market
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