Edible Packaging Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe
global edible packaging market size is projected to reach
USD 1.1 billion by 2025, exhibiting a CAGR of 6.2% over the forecast period,
according to a new report by Grand View Research, Inc. Growing innovation in
food packaging coupled with rising concerns over the excessive use of plastics
is among the key factors driving the growth of the global market.
The primary
advantage of edible packaging over traditional synthetic polymers is that it
can be consumed along with the packaged products. In addition, even if the
package is not consumed along with the product, it gets degraded more readily
than polymeric materials as it is extracted from biomass material, which is
biodegradable. Furthermore, the product has the potential to enhance the
organoleptic properties of packaged foods, provided they contain flavorings,
colorings, and sweeteners.
Edible
packaging is usually made of polysaccharides, proteins, and lipids and these
materials are usually extracted from various biomass including plants, animals,
oils, and others. Combination or blend of polysaccharides, proteins, and lipids
is used to derive composite edible packing material. The main objective of
producing composite edible packaging material is to have a packaging product
with improved permeability or mechanical properties.
Key product
manufacturing companies are majorly located in North America and Europe. This
can be attributed to the higher adoption of edible packing by the food
manufacturers in these regions. Moreover, high awareness among the consumers
regarding the use of environment-friendly packing materials has attracted consumers
to edible packing in the developed regions.
Furthermore,
increasing innovations in food packing and growing ban over single-use plastic
across the world are anticipated to fuel the product demand globally over the
next few years. The demand for processed food has been significantly growing
globally, which is expected to favorably impact the demand for edible
packaging. However, few shortcomings including high packing cost, hygienic
issues during transportation, and requirement of secondary packing are anticipated
to hamper the growth of the product globally.
Further key
findings from the report suggest:
- Protein segment
is anticipated to reach USD 518.1 million by 2025, exhibiting a CAGR of
6.6% from 2019 to 2025
- Pharmaceutical
segment is expected to witness the highest growth rate over the forecast
period, in terms of revenue, owing to rising pharmaceutical market across
the world
- Increasing
innovations in food
packaging and ban over single-use plastic across the world are
anticipated to fuel growth of the global market over the forecast period
- Some of the key
companies present in the market are WikiCell Designs, Inc.; MonoSol, LLC;
Tate and Lyle Plc; JRF Technology LLC; SAFETRACES, Inc.; Devro; Evoware;
Ingredion, Inc.; NAGASE & CO., LTD.; and Bluwrap.
Access
full research report on global edible packaging market:
www.grandviewresearch.com/industry-analysis/edible-packaging-market
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Created on Nov 8th 2019 06:23. Viewed 462 times.