Edible Packaging Market Research Report - Global Forecast to 2028

Edible Packaging Market Research Report, by Material (Polysaccharides, Lipid, Protein Films and Others), by End User (Food & Beverage, and Pharmaceutical) and by Region – Forecast to 2028

ID: MRFR/PNT/3989-HCR | February 2021 | Region: Global | 185 pages

Edible Packaging Market Overview


Edible Packaging Market is projected to be worth USD 1.87 billion by 2028, registering a CAGR of 6.41% during the forecast period (2021 - 2028)., The market was valued at USD 783.32 million in 2021.


Over the forecast period ending in 2023, the global edible packaging market is expected to undergo a reliable figure growth. The global forecast period of 2017-2023, is likely to experience the global market surpassing its previous records and achieving new heights. Innovation has a major role to play in the wide-scale adoption and increase of the adoption of the edible packaging market trends. Innovation is usually combined with the development and advancement of the available technology that has a major role to play in the edible packaging market. This is further pushing the key market players to invest hugely in the development of products that stand out in competition, have a positive impact on the target audience, and end up improving their revenues and sales figures. The companies are on the rise to adopt smart, as well as sustainable king of innovation that will ensure that all the food-related safety standards are met, and the food items have an impact on the customers as a result of their appeal.


As per the current market trends, edible packaging solutions have gained a lot of momentum. The main reason behind this is the initiatives being started by the government to expose the consumers to healthy food that meets the standard requirements for consumption. Also, the technology used in packaging and advancement is on the rise along with the focus of the key market players that are shifting towards the availability of new kinds of sources dedicated to edible solutions for food packaging. The market expects to grow at a rising CAGR of 6.1% by the end of the market forecast in 2023.


Regional Analysis


The North American market consisting of the USA, and Canada market is expected to have the largest share in the edible packaging market size. The main reason behind this is an increased demand for packaged food owing to lifestyle changes. Also, the companies are allowing innovations and ditching the traditional ways of packaging. The European nations are also expected to grow at a reliable growth rate as this market has a strong hole in the European market. Also, other regions like South America, as well as, the MEA regions, are showing signs of positive growth in the market.


Further, the APAC region is likely to register a very fast growth by the end of the global forecast in 2023. The main reason behind this is industrialization, as well as, growing urbanization in these countries. China is accounting to have the largest share owing to the quantum of its industrial development, as well as, urbanization.


Competitive Landscape


The edible packaging industry is indicated to be highly fragmented and competitive. To judge the market competitiveness, understand the revenue models, and key growth strategies of the players belonging to different regions, the presence of the players should be understood. And for the same, it is important to know which are the prominent players in the edible packaging industry.


They are as follows: 



  • WikiCell Designs Inc. (U.S.)

  • Nagase & Co. Ltd. (Japan)

  • JRF Technology, LLC (U.S.)

  • Tipa Corp (Israel)

  • Interpack (U.S.)

  •  Pace International LLC (U.S.)

  • Ingredion Inc (U.S.)

  • Safetraces, Inc. (U.S.) 

  • Dupont de Nemours and Company (U.S.)

  • Tate & Lyle Plc. (U.K)

  • Coveris Holdings, (U.S.)

  • MonoSol, LLC (U.S.)

  • Evoware (Indonesia)

  • Watson, Inc. (U.S.)

  •  Devro plc (U.K) 


COVID 19 Analysis


The outrageous spread of the novel coronavirus pandemic amongst various locations of the world had sent us into deep analysis of our healthcare system, as well as, the basic lifestyle followed by the people all around the globe. The spread of the pandemic has forced the government to imply various kinds of restrictions and lockdowns owing to the kind of situation in various locations around the globe. These lockdowns have forced the migrant laborers to return back to their hometowns. This has further caused the unavailability of labor. The further consequence of this that many businesses have shut down their manufacturing, as well as, production units. Due to the lockdown, the demand for the edible packaging market initially declined but increased later on as the restrictions were eased.


Owing to the severity of the situation, people are opting for edible packaging solutions that are emerging as healthier and safer options. Also, these solutions are being widely adopted to eliminate the sources through which the virus is spread like wildfire. Also, the target audience is demanding innovative and creative packaging solutions that are emerging the key players to deploy workforce amid the pandemic to think out of the box.


Segmentation: Global Edible Packaging Market


 Edible Packaging


Segment Overview


The edible packaging market growth is expected to rise owing to the performance of the market segments. The market is segmented based on the following heads:


Material


Based on material, the market contains segments like lipid, polysaccharides, as well as, protein films, amongst others. Lipids are the segment that is emerging as a dominant player. It contains the neutral lipids of glycerine and is used in packaging owing to its function of acting as a barrier against oxygen, water vapors, and protecting the food from getting contaminated. During the current forecast period of 2021-2028 the market segment of protein films is expected to emerge as a dominant player in the market.


Application


Based on the application segment, the market includes segments like pharmaceuticals, food beverage industry.


Geographical region


Europe, North American nations, the APAC region, along with the nations of the rest of the world (RoW).


Market Dynamics


Drivers


Algae, as well as, seaweed, are emerging as the most used sources as raw materials when it comes to the manufacturing of edible packaging solutions. Seaweed is known to be a source of food that is rich in important nutrients of the body and hence, owing to the richness, there is no need for adding extra chemicals for the production. These raw materials can be adopted across different kinds of food and beverage applications and can further be processed in various kinds of forms. Hence, the manufacturers are witnessing a very high degree of flexibility in the lane of production.


Opportunities


The industry for food services is taking up initiatives and investing in the research and development department to integrate the idea of providing edible packaging solutions in their product lines, that are inclusive of containers, wrapping paper, as well as, developing a replacement for the plastic sachets.


Technology Analysis


There is a major growing environmental concern related to the wide usage of single-use plastic and ways to ban it potentially. These packaging solutions have gained a lot of significance amongst various manufacturers, as well as, consumer groups. There is an advancement in the sources for edible packaging solutions and are helping the prospects amongst various manufacturer groups. Adapting these solutions is going to help in reducing waste that is generated from the use of plastic. There is a growing need for the development of sustainable alternates in the edible packing market size.


Recent Developments 



  • The Asian Pacific countries like India, Indonesia, as well as, China are emerging as the key regions for the market in the eye of the manufacturers wishing to expand their services on a global scale. 

  • The key market players of the USA market of the North American region are developing strategies that help in processing ways of hygienic packaging. Also, there is a rise of the pharmaceutical industries in this region that is expecting the market to grow at the expected rate. 

  • The governments of different countries belonging to the countries of the APAC region are rolling out growth strategies, initiatives, and support from the government side for extending a helping hand and favoring the edible packaging solutions, as well as, the establishment of the raw materials extracted from the plant-based sources. There are going to play a major role in helping the market to register good growth by the end of the global forecast period of 2017-2023. 

  • The key players of the APAC region are supplying the required raw materials in the form of commercial seaweed farming to the industries and are seeing this as a sustainable source to meet the requirements of the industry. 


Intended Audience



  • Manufacturers, as well as, suppliers, of the edible packaging solutions 

  • Institutes carrying out research and development programs 

  • Edible packaging market solutions distributors 

  • Bodies functioning on behalf of the government 

  • End-users of the market 

  • Importers, as well as, exporters of the edible market solutions 


Report Overview


During the current forecast year of 2021-2028 the global edible packaging market is expected to rise at a considerable CAGR and this report is a clear depiction of the same. The market report is inclusive of the impact of the COVID 19 pandemic on the market, as well as, the attempts of the key market players to draw the market dynamics. Also, the report includes the view of the industry experts that is likely to play a major role in the market growth owing to its wide-scale implementation. The market report also consists of the historic and expected performance of the market segments and the key market players that is a reflection in the recent developments. Also, the report consists of the functioning of these players in various regions across the globe for a competitive market landscape.



Report Scope:
Report Attribute/Metric Details
  Market Size   2028: USD 1.87 billion
  CAGR   6.41% CAGR (2021-2028)
  Base Year   2020
  Forecast Period   2021-2028
  Historical Data   2019
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Material, End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   WikiCell Designs Inc. (U.S.), Nagase & Co. Ltd. (Japan), JRF Technology, LLC (U.S.), Tipa Corp (Israel), Interpack (U.S.), Pace International LLC (U.S.), Ingredion Inc (U.S.), Safetraces, Inc. (U.S.) , Dupont de Nemours and Company (U.S.), Tate & Lyle Plc. (U.K), Coveris Holdings, (U.S.), MonoSol, LLC (U.S.), Evoware (Indonesia), Watson, Inc. (U.S.), Devro plc (U.K)
  Key Market Opportunities

  • Product lines
  • Inclusive of containers
  • Wrapping paper
  • Developing a replacement for the plastic sachets
  •   Key Market Drivers

  • Most used sources as raw materials
  • Owing to the richness
  • Nutrients of the body
  • No need for adding extra chemicals for the production


  • Frequently Asked Questions (FAQ) :


    The edible packaging market is supposed to expand at 6.41% CAGR.

    APAC is estimated to exhibit the fastest rate of growth.

    The edible packaging market, by material, is segmented into polysaccharides, protein films lipid, and others.

    The lipid segment is anticipated to dominate the edible packaging market.

    The key players are WikiCell Designs Inc. (U.S.), Safetraces, Inc. (U.S.), Tate & Lyle Plc. (U.K), JRF Technology, LLC (U.S.), MonoSol, LLC (U.S.), Tipa Corp (Israel), Watson, Inc. (U.S.), Interpack (U.S.), Devro plc (U.K), Evoware (Indonesia), Nagase & Co. Ltd. (Japan), Dupont de Nemours and Company (U.S.), Coveris Holdings, (U.S.), Ingredion Inc (U.S.), and Pace International LLC (U.S.).