Edible Packaging Market To Hit Value .1 Billion By 2025
Posted by Mrudula Anil Karmarkar on April 6th, 2022
The global edible packaging market size is projected to reach USD 1.1 billion by 2025, exhibiting a CAGR of 6.2% over the forecast period, according to a new report by Grand View Research, Inc. Growing innovation in food packaging coupled with rising concerns over the excessive use of plastics is among the key factors driving the growth of the global market.
The primary advantage of edible packaging over traditional synthetic polymers is that it can be consumed along with the packaged products. In addition, even if the package is not consumed along with the product, it gets degraded more readily than polymeric materials as it is extracted from biomass material, which is biodegradable. Furthermore, the product has the potential to enhance the organoleptic properties of packaged foods, provided they contain flavorings, colorings, and sweeteners.
Edible packaging is usually made of polysaccharides, proteins, and lipids and these materials are usually extracted from various biomass including plants, animals, oils, and others. Combination or blend of polysaccharides, proteins, and lipids is used to derive composite edible packing material. The main objective of producing composite edible packaging material is to have a packaging product with improved permeability or mechanical properties.
Key product manufacturing companies are majorly located in North America and Europe. This can be attributed to the higher adoption of edible packing by the food manufacturers in these regions. Moreover, high awareness among the consumers regarding the use of environment-friendly packing materials has attracted consumers to edible packing in the developed regions. Furthermore, increasing innovations in food packing and growing ban over single-use plastic across the world are anticipated to fuel the product demand globally over the next few years. The demand for processed food has been significantly growing globally, which is expected to favorably impact the demand for edible packaging. However, few shortcomings including high packing cost, hygienic issues during transportation, and requirement of secondary packing are anticipated to hamper the growth of the product globally.
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The global market is in its nascent stage; therefore, it is moderately concentrated by the medium-sized players. The key players operating in the market are heavily investing in the R&D to offer unique packaging to the end use industries, thereby, differentiating their product portfolio from the competitors. Top players are majorly located in North America and Europe. New players are expected to enter the global market on account of the rising demand for sustainable packaging solutions mainly in food & beverages industry.
Further key findings from the report suggest:
Some of the key players present in the market include WikiCell Designs, Inc.; MonoSol, LLC; Tate and Lyle Plc; JRF Technology LLC; SAFETRACES, Inc.; Devro; Evoware; Ingredion, Inc.; NAGASE & CO., LTD.; and Bluwrap.
Grand View Research has segmented the global edible packaging market on the basis of material, end use.
Material Outlook (Revenue, USD Million, 2014 - 2025)
End Use Outlook (Revenue, USD Million, 2014 - 2025)
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About the AuthorMrudula Anil Karmarkar
Joined: July 2nd, 2020
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