Edible Packaging Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024
Over the last two decades, global food industry has gone through vast changes in terms of consumer preferences. Demand for ready-to-use food is gaining momentum, which in turn, is expected to create demand for enhanced food packaging solutions. With global food industry players introducing novel products following trends in customer behavior, food packaging has also seen significant changes in terms of visual graphics, physical and chemical characteristics and biodegradability. Edible packaging is also a result of these trends in the food packaging industry.
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Traditional packaging creates pollution and takes too much time to decompose. Regulations from various government and environmental agencies has led packaging manufacturers to reduce utilization of plastics by introducing biodegradable packaging. Edible packaging is a breakthrough in the field of food packaging, which creates zero waste after consumption of food product. Edible packaging can be used for several applications including poultry, meat, fruits, vegetables and other such food products. Edible packaging provides barrier to oxygen and carbon dioxide between food and atmosphere, leading to enhanced shelf life of the product. Rising consumer awareness, coupled with regulations from various government & non-government organizations, the demand for edible packaging is expected to grow at a significantly high CAGR over the forecast period of 2016-2026.
Global Edible Packaging Market Dynamics
The demand for edible packaging, due to its several beneficial properties such as ecofriendly nature and biodegradability, is expected to grow significantly over the coming years. It also possess the potential in reducing waste of food packaging generated by corporate and residential areas across the globe. Further, environmental regulations to reduce the use of plastics for food packaging is pushing its demand to grow over the forecast period.
The major challenges with edible packaging is that it possesses inferior mechanical properties as compared to conventional packaging. For proper safety, edible packaging requires additional packaging over it which directly increases its cost, making it difficult to deliver at a cost comparable with that of the traditional packaging. Being relatively new in the market, consumers are less aware about the benefits of edible packaging technology, which pose a significant challenge for marketing products with edible packaging. Also, due to its biodegradable nature, edible packaging cannot be used for long term storage.
Since manufacturers and consumers are emphasizing on the use of edible packaging due to rising awareness and environmental concerns, the demand for edible packaging is expected to grow significantly over the forecast period of 2016-2026. Reduction in overall manufacturing cost can further fuel up the demand for edible packaging, leading to increased revenue for market players associated with this market.
Global Edible Packaging Market Segmentation:-
Global edible packaging market is segmented on the basis of raw material, end-use and region. By raw material, global edible food packaging market is segmented as the following:
On the basis of end-use, global edible packaging market is segmented into:
Global Edible Packaging Market: Regional Outlook
Geographically, the global edible packaging market is segmented by major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific excluding Japan (APEJ), Middle East and Africa and Japan. North America, APEJ and Europe are expected to be the major regions in the global edible packaging market throughout the forecast period.
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Global Edible Packaging Market Players
Key players reported in the value chain of edible packaging include WIKIFOODS Inc., MONOSOL Inc. etc. Market players in the edible packaging industry are highly focused to reduce the overall manufacturing cost, making it comparable with that of the conventional packaging.
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