The edible films and coatings market is anticipated to expand from US$ 2,210.0 million in 2023 to over US$ 4,871.0 million by 2033 at a CAGR of 8.2%.
This growth is primarily driven by increasing consumer demand for sustainable and eco-friendly packaging solutions. Edible films and coatings offer an attractive alternative to traditional packaging materials, reducing environmental impact and aligning with the global push towards sustainability. Additionally, the rise in health consciousness among consumers is propelling the adoption of edible films and coatings, as they often incorporate natural ingredients and extend the shelf life of food products without the need for synthetic additives.
Request Your Sample Report Now! https://www.futuremarketinsights.com/reports/sample/rep-gb-907
Technological advancements in food processing and packaging are further enhancing the quality and functionality of edible films, making them more appealing to both manufacturers and consumers. The growing trend of convenience foods and ready-to-eat meals is also contributing to the market’s expansion, as edible coatings improve product durability and freshness. Furthermore, supportive regulatory frameworks and increasing investments in research and development are expected to fuel market growth, fostering innovations that cater to diverse food packaging needs.
Key Takeaways in the Market:
- North America holds a significant share of 36.7% in the edible films and coatings market due to the increasing adoption of sustainable packaging solutions and growing consumer demand for safe and eco-friendly products.
- Germany has a market share of 3.8% driven by its emphasis on sustainability and eco-friendly solutions. China, with a CAGR of 7.9%, recognizes the need for sustainable alternatives and solutions.
- India’s food processing industry is leading to a growth trajectory of 6.4% supported by initiatives promoting sustainable packaging practices.
- Polysaccharides contribute to a 43.4% share of the market due to their versatility and effectiveness.
- Fruits and vegetables hold a share of 38.2% as edible films and coatings help prevent post-harvest losses and cater to consumer preferences for natural products.
Competitive Landscape in the Edible Films and Coatings Market
The global market for edible films and coatings is competitive, and several global competitors are crucial to industry growth. Manufacturing businesses are investing extensively in research and development to create alternatives to plastic packaging, and edible films and coatings.
Companies turned their focus to producing eco-friendly and biodegradable edible films and coatings. To strengthen their foothold in the trash bag market, manufacturers used methods such as mergers and acquisitions, new product development, and distribution channel growth.
Latest Developments:
- In April 2021, AgroFresh Solutions Inc., the United States-based provider of food freshness and quality solutions, launched VitaFresh Botanicals – Life Ultra, a new plant-based film. It employs a new innovative technology involving a nanoemulsion process that generates small particles, resulting in the best coating of foods and increased protection.
- Sherwin-Williams Company, a paint and coatings manufacturer based in the United States, agreed to buy Peter Möhrle Holding and the GP Capital UG partnership, which includes Oskar Nolte GmbH and Klumpp Coatings GmbH, for an unknown sum in November 2022. Sherwin-Williams expects to develop economically fast in the global industrial wood market with this acquisition and might continue to pursue its acquisition strategy of complementary, large, and distinguishing enterprises.
Get Full Report Now! https://www.futuremarketinsights.com/checkout/907
Segmentation Analysis of the Edible Films and Coatings Market
By Ingredient Type:
- Polysaccharides
- Protein
- Lipids
- Others (Based on Nano-reinforcements, blends, and encapsulation)
By Application:
- Nutritional Products
- Dairy Products
- Confectionery & Bakery
- Vegetables & Fruits
- Poultry, Meat & Fish
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube