Rising environmental consciousness, coupled with an intensified commitment to confront pressing environmental issues, is steering the widespread embrace of edible packaging. This innovative packaging solution assumes a pivotal role in alleviating the repercussions of solid waste disposal in landfills, concurrently curbing the generation of excessive packaging material waste. The dual focus on product safety and environmental sustainability underscores the significance of edible packaging in the contemporary landscape.
The edible packaging market is poised for substantial growth, with expectations of reaching a valuation of US$ 4.18 billion by 2033, marking a remarkable CAGR of 14.31% over the forecast period. This significant expansion is driven by several key factors that are contributing to its rapid global development, particularly its ability to provide secure and hygienic packaging for edible products.
The surging interest in edible packaging is fundamentally propelled by its capacity to elevate product safety and prolong shelf life, rendering it a valuable solution across diverse industries. Furthermore, a growing environmental awareness and the urgent imperative to tackle solid waste disposal challenges are steering the widespread adoption of edible packaging.
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Market Growth Factors
Governments worldwide have taken decisive measures to ban single-use plastic, responding to the escalating awareness surrounding the unbridled consumption of plastic and its detrimental impact on the environment. Simultaneously, rising concerns over waste management have intensified, prompting a heightened emphasis on sourcing environmentally friendly materials for food delivery and various other food service applications.
The escalating use of edible packaging as a means to enhance product safety and extend shelf life is driving a substantial demand in the market. This surge is particularly prominent within the food and beverage industry, where businesses are increasingly turning to edible packaging solutions as a sustainable alternative.
Concurrently, the adoption of lightweight packaging has seen notable growth, fueled by the increasing utilization of air cushion bags in the packaging sector. Businesses across various industries are swiftly embracing edible packaging for lightweight food and beverage packaging, establishing it as an increasingly preferred and sustainable option in response to the evolving demands of environmentally conscious consumers.
Key Takeaways:
- The North American edible packaging market is estimated to expand at a CAGR of 5.7%. Asia Pacific edible packaging market is projected to develop at a CAGR of 8% over the forecast period.
- The European edible packaging market held 29% of the global market share in 2021.
- The protein material segment dominated the market in 2021 with 48.9% of the global revenue share
Edible Packaging Market Initiatives: Recent Investments from Well-Known Brands in Start-ups
The edible packaging sector holds significant promise for new businesses and aspiring entrepreneurs. While the industry is in its early stages, it presents a wealth of opportunities for innovation and growth. Emerging startups in the market are actively working to introduce cutting-edge edible packaging solutions. Their strategies often revolve around enhancing market penetration, adapting to the technological needs of specific application sectors, and staying ahead of the competition through product innovation and expansion.
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Key Players:
- WikiCell Designs Inc.
- Tate & Lyle Plc.
- Safetraces, Inc.
- Tipa Corp
- MonoSol, LLC
- Watson, Inc.
- Interpack
- Coveris Holdings
- Devro plc
- Dupont de Nemours and Company
- Ingredion Inc
- Nagase & Co. Ltd.
Competitive Landscape
In the water heater market, key players and innovative vendors include JRF Technology, Pace International, BASF SE, WikiCell Designs Inc., Tate & Lyle Plc., Safetraces, Inc., Tipa Corp, MonoSol, LLC, Watson, Inc., Interpack, Coveris Holdings, Devro plc, Dupont de Nemours and Company, Ingredion Inc, Nagase & Co. Ltd. and others.
To increase their market share in edible packaging, these businesses have employed several strategies. They have employed both organic and inorganic development strategies, such as new product releases, acquisitions, corporate expansions, and partnerships, to extend their clientele and boost revenue.
Recent Developments
- In February 2021, an edible film strip featuring BerryShield Elderberry from INS Farms, a grower, producer, and supplier of black elderberries in North America, was introduced by JRF Technology LLC, a maker of the water-soluble and edible film (Sambucus nigra). To transform soluble polymers into simple-to-use value-added consumer products, JRF Technology offers product formulation and research & development services.
- In September 2021, Pace International LLC introduced PrimaFresh® 60 Organic, a leading supplier of postharvest solutions and technology for the fresh produce sector (OR). To better control the dehydration in stone fruit and enhance its fresh appeal, Pace developed PrimaFresh 60 OR, a premium range of organic edible plant-based coatings.
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Market Segmentation
By Material:
- Protein
- Polysaccharides
- Lipid
- Others
By Source:
- Plant
- Animal
By Packaging Process:
- Antimicrobial
- Nanotechnology
- Electrohydrodynamic
- Coatings
- Microorganism
By End-user:
- Food & Beverages
- Pharmaceuticals
By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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