The global Edible Packaging Market is estimated to be valued at US$ 1067.15 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: –
Edible packaging products are made from renewable and edible materials like proteins, polysaccharides, and lipids. These edible materials act as protective coatings for food and replace synthetic plastic packaging. Advantages of edible packaging include biodegradability, sustainability, and imparting nutritional value and shelf-life extension to food products.
Market key trends: –
Growing demand for sustainable and eco-friendly packaging solutions is a major factor driving the growth of the edible packaging market. Edible packaging prevents food wastage by extending shelf life of perishable products without using any preservatives. Another key trend is the increasing popularity of minimal food packaging which reduces plastic waste. Researchers are focusing on developing innovative materials from agricultural waste, algae, and by-products for edible packaging. Emerging markets like Asia-Pacific and Latin America offer lucrative growth opportunities owing to rising health-conscious population.
Segment Analysis: –
The edible packaging market is segmented by type into polysaccharides, lipids, and others. Among these, the polysaccharides segment holds the highest share and is expected to remain the dominant segment, accounting for over 40% share of the overall market by 2030. Polysaccharides such as cellulose, chitin, chitosan, and alginates are dominating the market as they possess film-forming properties and are widely used in food packaging applications.
Key Takeaways: –
The Global Edible Packaging Market Size is expected to witness high growth, exhibiting a CAGR of 6.2% over the forecast period, due to increasing awareness about the environmental impact of conventional plastic packaging.
Regional analysis: – Europe accounted for the largest share of over 35% of the global edible packaging market in 2023. However, Asia Pacific is projected to witness the highest growth during the forecast period owing to the rapid industrialization and growing food packaging industry in countries such as China and India.
Key players: – Key players operating in the edible packaging market are MonoSol, Kuraray Co. Ltd., JRF Technology, WikiFoods Inc., Safetraces Inc., and Tate and Lyle Plc.New Zealand Manuka Group, Hispanagar, Acroyali Holdings Qingdao Co., Ltd., Industrias Roko, S.A., Neogen, Merck Group, Agarindo Bogatama, Setexam, and Norevo GmbH. These players are focusing on new product launches and partnerships to strengthen their market position. For instance, in 2022, MonoSol partnered with Setexam, an innovative biomaterial company, to develop new edible packaging solutions for food products.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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