The global edible packaging market is expected to grow from US$ 557 million in 2020 to US$ 665 million, at an average annual growth rate of 4.3% by 2025. The food sector is the largest in the world and plays a vital role in the financials of all countries. Food must be well packaged in a resistant and robust way to avoid damage. Containers such as cans, cups, tubs, bottles and sachets are mainly used to pack food. Several suppliers in the food packaging market continuously release packaging materials to help prevent food contamination. Packaging design can have a significant impact on consumer purchasing decisions.
In May 2019, BASF and Lactips announced that the two companies had signed an exclusive contract to manufacture Lactips' 100% biodegradable and water-soluble elements from natural ingredients.
In November 2019, the MonoSol Business Unit of Kuraray announced that it plans to build a new manufacturing facility in Poland to further expand its operations in order to increase the demand for water-soluble and biodegradable films dramatically.
Market Drivers and Restraints:
The increase in consumption and use of processed food and beverages, the development of the disposable income of the consumer, the reduction of packaging waste, the rise of consumer hygiene problems, the prolongation of the shelf life of food and essential changes are key factors that drive the global edible packaging market. On the other hand, this method of eco-friendly packaging helps to preserve the environment as it is renewable and harmless for human use, thus reducing the use of plastic packaging waste. For example, the development of various technologies, such as the beginning of nanotechnology in packaging and the introduction of healthy proteins, is supposed to provide some opportunities and perspectives in the global edible food packaging market.
On the other hand, the high expenditure on edible packaging materials compared to synthetic materials, together with the high regulatory requirements, will probably hamper the development of the global edible packaging market. In addition, there are presumed to be a few disadvantages that hinder the growth of the product worldwide, including high packaging costs, hygiene problems during transportation and secondary packaging requirements.
Report Segmented as:
The global edible food packaging market is broken down by end-user, type of material and region.
In terms of materials, the world market is divided into polysaccharides, surfactants, lipids, composite films and proteins.
In terms of end-users, the global edible food packaging market is divided into pharmaceutical products and food and beverages. In the food and beverage industry, this product is widely used in various food containers, including fresh foods, cakes and confectionery, baby foods, dairy products and functional foods.
In 2018, the North American edible packaging market occupied most of the world demand. The presence of a large-scale processed pharmaceutical and food industry, along with numerous producers of consumable packaging materials support the leading position of North America in the world market. Also, as the innovation of the edible packaging space, especially in the United States, is expected to feed the market during the forecast period.
The Asia-Pacific edible packaging market is foreseen to grow at the highest rate from 2020 to 2025. Along with the ban on disposable plastics, increasing consumer awareness of the excessive use of plastics for food packaging is driving the regional demand. The expansion of the food and beverage and pharmaceutical industries is expected to intensify the demand for products in the coming years.
Key market players:
The main players in the world edible packaging market include WikiCell Designs, Devro Plc., BluWrap, JRF Technology LLC, MonoSol LLC, Safetraces, Inc., Skipping Rocks Lab and Tipa Corp.
Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along with this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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