Global Edible Films and Coatings Market is Expected to Grow at a CAGR of 29%

Posted by Persistence Market Research on August 5th, 2019

Edible films & coatings are material that are utilized to coat food product offerings in an attempt to improve the shelf life, as they prevent the damage caused to foods by moisture, microorganisms, and oxygen. Edible films & coatings are prepared of food-grade constituents including film-forming matrix, solvents, plasticizers, and other components, owing to which they can consumed along with foods, with or without its removal.

The recently published study by XploreMR on the edible films & coatings market provides crucial insights pertaining to the global market for edible films & coatings. According to the comprehensive market research study, the edible films & coatings is anticipated to register a strong growth with 5% CAGR in terms of value throughout the period of forecast.

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Demand for Eco-friendly Sustainable Food Packaging to Boost the Consumption of Edible Films and Coatings

The XploreMR study opines that the ingredients types in which the market for edible films & coatings has been divided include polysaccharides, lipids, proteins, and others, amongst which the proteins segment will take the leading position with a high market share as a result of the rising demand from the end-use sectors. The report also states that the utilization of polysaccharides is likely to grow substantially owing to its comparatively lower prices. The increasing demand for eco-friendly and sustainable solutions for packaging foods has majorly driven the utilization of polysaccharides and proteins for edible films & coatings.

The growing trend of using composite films based on lipids, polysaccharides, and proteins is driven by the significant technological advancements and their ability to provide enhanced and unique functionalities. The XploreMR study states that with a healthy growth rate of more than 5% CAGR registered by the protein segment, it is estimated to hold 40 percent market share in terms of value.

Penetration of Portion Size Packaging in Fruits & Vegetables to Propel Demand

When segmented based on its end-use, market for edible films & coatings is divided into meat, bakery & confectionary, poultry & fish, dairy products, nutritional products, fruits & vegetable, and others. According to the study, among these end-use segments, the fruits & vegetables segment is likely to hold a significant market share with the increasing popularity for effective, safe, and environmental-friendly packaging solutions utilizing space and the growing popularity of portion size packaging. The XploreMR study states that the fruits & vegetables segment is likely to hold 25% value share in the market for the edible films & coatings, recording a strong CAGR over the period of forecast.

North America to Capture Leading Position in the Regional Market for Edible Films & Coatings

The global market for edible films & coatings is segmented based on key regions which include Latin America, North America, the Middle East & Africa, South Asia, Oceania, Europe, and East Asia. According to XploreMR study, North America is likely to lead the regional market and is estimated to hold a significant share through the period of assessment, holding 30% market share in terms of value in 2019.

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Anticipated to showcase major growth at about 4% CAGR through the assessment period, North America will offer numerous opportunities for the manufacturers of edible films & coatings. The growth of the region is driven by the portion size packaging trend observed across the region along with the growing demand for sustainable products.

XploreMR reveals that the growing opportunities resulted by dynamically transforming meat and fruits & vegetables industries in the East Asia and South Asia regions are likely to result in a high growth of these regions. Moreover, the Oceania and Latin America markets for edible films & coatings are also predicted to grow substantially over the period of forecast.

Edible Films & Coatings Market Competition

XploreMR’s comprehensive market study sheds light on the various trends and opportunities in the market for edible films & coatings. The report profiles prominent participants in the edible films & coatings market and discusses the key developments and strategies implemented by them.

Some of the key players discussed in the report include Proinec, Tate & Lyle PLC, Takikawa Oblate Corporation, Limited, Ingredion Inc., Pace International LLC., DuPont, Watson Foods CO. INC., DSM, FMC Corporation, Kerry Group PLC, MonoSol LLC., Cargill Inc., Nagase & Co. Ltd., Devro Plc, and others.