Pune, India, February 9, 2018, /MRFR Press Release/- Market research future published a half cooked research report on the global market. The edible packaging market is expected to grow over the CAGR of around 6.2% during the period 2017 to 2023.
Edible packaging is a sheet of edible coating, which is layered with a food ingredient. Hence, anyone can eat the food with its package. It increases the shelf life of the product due to its high barrier resistance. Edible packaging is also useful in cargo packaging due to its high tensile strength. Major players in the market spend more on packaging innovation rather than on production cost and come up with various advancements in technology such as the introduction of nanotechnology in packaging as well as the addition of healthy proteins in the edible food packaging are expected to provide numerous opportunities to the edible packaging market. This also has a positive influence on the growth of the market. Additionally, edible packaging helps in reducing waste, creates product stability, and provides safety to the product. However, high regulatory requirements, as well as high cost of the edible packaging, are the major factor that may hinder the market growth.
On the basis of the regions, North America region dominates the global edible packaging market. Continuously growing pharmaceuticals industry in the North American region have a positive influence on the growth of the market. The U.S. holds the largest market share in the North American region. Asia Pacific is expected to grow at the highest CAGR during the forecast period. Increasing industrialization and urbanization along with growing demand for packed food is driving the growth of the market. Additionally, availability of raw materials and low labor cost show a positive influence on the market growth.
Global edible packaging market is projected to grow at a CAGR of 6.2% during the forecast period.
Market Research Analysis
Global edible packaging market has been segmented based on material, application, and region. On the basis of the material, the market has been segmented into polysaccharides, lipid, protein films and others. Lipid-based edible packaging dominates the material segment of the market due to their efficient use as a water-vapor barrier in edible films. Polysaccharides are also expected to contribute significantly during the forecast period. It is largely used in the pharmaceutical sector.
On the basis of the application, the market has been segmented into food & beverage, and pharmaceutical. The Food & beverage industry dominates the application segment of the market and is expected to grow at the fastest CAGR during the forecast period. Rising demand for packaged foods & beverages including ready-to-eat meals, frozen meals, and snack foods. Increasing consumer income in countries such as China, India, and Brazil, has led to a growth in the demand for good-quality packaged food. The pharmaceutical industry is also expected to contribute significantly to the market during the forecast period. The rising income level, especially for the lower income groups, along with the government commitments for providing basic health facilities are projected to provide medicines at an affordable cost to the populations, even in the developing regions. This is likely to drive the growth of the pharmaceutical industry and will lead to more usage of the edible packaging.
Global Edible Packaging Market, 2016-2023 (USD Million)
Scope of the Report
This study provides an overview of the global market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global Edible Packaging market by its technology, product, end user, and region.
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.).
Access Full Report Details - Edible Packaging Market trends