Edible Packaging Market
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| Edible Packaging Market |
Market Overview:
The global Edible Packaging Market
is estimated to reach a value of US$
1,004 million by 2022, with a projected CAGR of 6.29% during the forecast period of 2023-2030. Edible packaging refers to the use of food-based
materials that can be consumed along with the packaged product, eliminating the
need for disposal. This innovative packaging solution offers several
advantages, including reduced plastic waste, improved product freshness, and
enhanced sustainability. As consumers become more environmentally conscious,
there is a growing need for products associated with the edible packaging
market.
Market Key Trends:
A key trend observed in the edible packaging market is the increasing demand
for sustainable packaging solutions. With rising concerns over plastic
pollution and the detrimental impact of non-biodegradable packaging materials
on the environment, there is a growing preference for eco-friendly
alternatives. Edible packaging provides a sustainable solution by utilizing
food-based materials that are biodegradable and can be safely consumed. This
trend is driven by consumer awareness and government regulations promoting
sustainable practices. Moreover, companies in the food and beverage industry
are also embracing edible packaging as a way to differentiate their products
and appeal to environmentally conscious consumers.
Segment Analysis:
The edible packaging market can be segmented based on material type and end-use
industry. In terms of material type, the dominating segment is protein-based
edible packaging. This segment is expected to witness significant growth during
the forecast period. Protein-based edible packaging offers various advantages
such as high water resistance, biodegradability, and excellent barrier
properties. These properties make it suitable for packaging applications in the
food and beverage industry. Additionally, the increasing consumer preference
for sustainable packaging solutions and the growing demand for eco-friendly
packaging materials are driving the growth of the protein-based edible
packaging segment.
Key Takeaways:
The global Edible Packaging Market is expected to
witness high growth, exhibiting a CAGR of 6.29% over the forecast period. This
growth can be attributed to several factors, including the increasing consumer
demand for sustainable packaging solutions and the rising awareness about the
harmful effects of plastic packaging. The market is also driven by the growing
preference for eco-friendly and biodegradable packaging materials, as well as
the stringent regulations imposed by various governments to reduce plastic
waste.
In terms of regional analysis, the fastest-growing and dominating region in the
edible packaging market is North America. This can be attributed to the high
consumer awareness about environmental issues and the increasing demand for
sustainable packaging solutions in the region. Moreover, the presence of key
players in the region, coupled with their focus on research and development
activities, is driving the adoption of edible packaging solutions in North
America.
Key players operating in the edible packaging market include MonoSol, Kuraray
Co. Ltd., JRF Technology, WikiFoods Inc., Safetraces Inc., and Tate and Lyle
Plc. These key players are actively involved in product development and
innovation to gain a competitive edge in the market. They are also focusing on
strategic partnerships and collaborations to expand their market presence and
cater to the increasing demand for edible packaging solutions. Other notable
players in the market include New Zealand Manuka Group, Hispanagar, Acroyali
Holdings Qingdao Co., Ltd., Industrias Roko, S.A., Neogen, Merck Group,
Agarindo Bogatama, Setexam, and Norevo GmbH.
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