Global Edible Films and Coating Market: Overview
The growth rate charted by global edible films and coating market from 2019 to 2027 will be impressive and that would lead to a steep and upward facing growth curve. A people move towards eco-friendly packaging solutions, demand for edible films and coatings that are biodegradable and environmentally sustainable is set to grow. Additionally, innovation in the market – a product of proactive player approach – will add to the upward trend. Besides, the fact that these are known to improve shelf life without compromising safety of consumer of environment massively goes in favor of their already growing popularity, particularly over the forecast period, as per Transparency Market Research.
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Global Edible Films and Coating Market: Notable developments
The market boasts of a decent number of players who are quite competitive in their approach to growth. The last few years have seen a notable increase in their numbers, making the vendor landscape more fragmented. The new players have gained significant clout, credit new product launches and effective growth strategies – organic and inorganic.
2017: Brands such as Lactips are good examples of players focusing upon new offerings to capture growth in the market. It recently created pellets that were made of casein, a milk-based protein. It is biodegradable, and 100% natural. The launch created intense competition in the market.
Top players in the Edible Films and Coating Market include:
- Dupont de Nemours Inc.
- Tate & Lyle
- Dohler Group, D
- Ingredion Incorporated
- Koninklijke DSM N.V.
Range of strategies applied by top players is wide, and falls across the organic-inorganic continuum. These include forging key alliances and advancement of technology to bring innovation to fore.
Global Edible Films and Coating Market: Key trends and driver
The global edible films and coatings market is growing due to interplay of various trends and drivers. One of the biggest growth factors in the market, as identified by Transparency Market Research, is its viability as substitute to plastic packaging. More details along with a glimpse into other factors is below:
- Environmental concerns are really propelling consumers to opt for green choices and materials in their everyday life. It is quite significant to make note of the profile of woke millennial consumer who is concerned of his carbon footprint and impact of his choices on the environment.
- Additionally, harmful impact of plastics is also garnering eyeballs, leading to demand for better alternatives, driving global edible films and coatings market forward. It is notable here that these can be consumed with food without creating a hazard for consumer. Besides, these are effective in keeping the shelf life proper.
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Global Edible Films and Coating Market: Regional Analysis
In terms of value share, the North American region will lead the market over the forecast period. The dominance will lead it to a high market share claim. In terms of growth, a moderate value would be registered. It is also quite significant to note here that a very high growth would be registered over the forecast period by the Asia Pacific (APAC) region. It is pertinent to note here that China is set to be at the forefront of projected growth, with massive contributions – a result of high demand for xanthan gum. It is one of the most commonly used films in the country. The region overall is also investing towards research and development to come up with better films and coatings.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.