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Edible Packaging Market is Expected to Witness a Healthy Growth at a CAGR of 6.79% By 2030

Sep 22, 2022 9:00 PM ET

Edible Packaging Market is Expected to Witness a Healthy Growth at a CAGR of 6.79% By 2030

Edible packaging refers to a kind of packaging that’s done for packing food materials and other edibles. The material used for wrapping the food is pretty thin and in no way harms or destroys the food. This material is also used to extend the quality of the food material for an increased number of days. It is very important for any material used in food packaging to be approved by the required organisation for safe-food ingredients. This is done by organisations like Food and Drug Administration FDA. The packaging material must be extracted from organic materials or biomass that leaves no harm to the food or the consumer.

The edible packaging is manufactured from multiple materials like lipids, polysaccharides, and composite and protein films. After use, the materials can be easily biodegraded and thus causes no harm to the environment. The Edible Packaging Market stood at $727.6 million in the global market in 2018. Estimating all the factors driving and restricting the market, the market rate is again predicted to showcase a growth of $2.14 billion by the end of its forecast period. The market’s forecast period is predicted from 2022 to 2030, amid which many factors are expected to influence its rate at the global level. The market also demonstrated a healthy and substantial annual growth rate of 6.79% CAGR. With global urbanisation, there is an evident change in the lifestyle of the people. Consumers prefer food materials with the least amount of plastic constituent, and edible packaging stores the food in the most efficient way possible. The packaging is also known to be water soluble, as a result of which there are pretty less chances of the food being damaged. Edible packaging solves half of the problems regarding the increasing need for hygienic and processed food, and factors like such have majorly been known to drive the market trends.

The Edible Packaging Market, however, has been facing certain restraints due to the high cost of packaging used for sanitary requirements. The packaging is vulnerable to all kinds of dirt and dust that can damage the food quality. Apart from this, the maintenance of the packaging consumes much time, and factors like such have hampered the growth and development of the market.

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Market Segmentation

The Edible Packaging Market is majorly segmented into its materials and end-user types.

The market is divided into lipids, protein films and polysaccharides by material. The material is divided into pharmaceutical, food and beverage by the end-user type.

Regional Analysis

With the increasing demand for the usage of hygienic food worldwide, the Edible Packaging Market is broadly spread over. This covers parts like India and China in the Asia Pacific, the US in North America and Italy, and Russia in Europe. This is enhancing the market dynamics by the day.

Key Players

The prominent players in the edible packaging market include WikiCell Designs Inc. (U.S.), Tate & Lyle Plc. (U.K.), Safetraces, Inc. (U.S.), JRF Technology, LLC (U.S.), Tipa Corp (Israel), MonoSol, LLC (U.S.), Watson, Inc. (U.S.), Devro plc (U.K.), Interpack (U.S.), Evoware (Indonesia), Coveris Holdigs, (U.S.), Dupont de Nemours and Company (U.S.), Ingredion Inc (U.S.), Nagase & Co. Ltd. (Japan), and Pace International LLC (U.S.).  

Industry News

The Edible Packaging Market had a major collaboration with key players like Notpla in London and Loliware in New York. These collaborations were based on producing edible packaging with seaweed and algae.

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