Global Edible Packaging Market: Snapshot
The global market for edible packaging derive much of its growth from the increasing consumption of processed products, rising household income, and the increasing preference of consumers for hygienic and durable products. Apart from this, the fast-paced urbanization in emerging economies, together with the high growth of the population base is also strengthening the potentials of this market.
Over the forthcoming years, the increasing usage of edible packaging materials for the packaging of food products will boost this market substantially. The growing awareness about the attributes of edible packaging, such as the ease of handling while maintaining the quality and the shelf life of products, are also projected to drive the growth of this market in the near future. However, the high cost of the packaging machines and quality films used in edible packaging may limit its uptake to some extent in the years to come. The burgeoning adoption of modified atmosphere packaging may also prove to be a challenge for this market over the next few years.
The global edible packaging market was worth US$0.77 bn in 2016. Analysts expect this market to expand at a CAGR of 6.90% between 2016 and 2024, reaching a sum of US$1.3 bn by the end of 2024.
Demand for Edible Packaging to Remain High from Food and Beverage Manufacturing
Food and beverage manufacturing and pharmaceuticals are the two main end users of edible packaging across the world. Among these, the food and beverage manufacturing segment has occupied the leading position in this market.
It dominated the market with a share of more than 77% in 2016 and is anticipated to continue its leading streak over the next few years. The demand edible packaging is stronger in fresh food packaging and the scenario is likely to remain in the near future.
North America to Retain Dominance in Global Edible Packaging Market
North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa are the key regional markets for edible packaging across the world. North America, among these, has been leading the global market and acquired a share of more than 36% in 2016. The U.S., being both, a prominent producer and consumer of edible packaging, has been driving the North America market for edible packaging. Analysts project a dominance of this regional market over the next few years; however at a reduced share in the overall market, as a result of the maturing state of the market for edible packaging in North America.
Among others, the Asia Pacific edible packaging market is likely to exhibit significant potential for future growth, thanks to the increasing awareness among consumers pertaining to the benefits of edible packaging. The rise in disposable income of consumers, influencing their standard of living, is also expected to reflect positively on the demand for edible packaging in this region over the forthcoming years.
MonoSol, LLC, WikiCell Designs Inc., JRF Technology LLC, and Tate and Lyle Plc. are the key players operating in the global market for edible packaging.
Global Edible Packaging Market: Overview
This Transparency Market Research report examines the global edible packaging market for the forecast period 2016-2024. The primary objective of the report is to identify opportunities in the market and present updates as well as insights pertaining to various segments of the global edible packaging market.
Nowadays, edible packaging is one of the most accepted packaging approach for fresh food, dairy food and other products. Edible packaging provides barrier to oxygen and carbon dioxide between food and atmosphere, leading to enhanced shelf life of the product. Edible packaging is a common technique of extending the shelf life of food related products without adversely impacting their quality. Edible packaging is segmented on the basis of material type, end use and region. New and innovative developments which includes production of edible packages that holds light-weight packaging are accumulating value to the edible packaging market.
Robust consumption of convenience and processed food has been the major growth drivers of the global edible packaging market. Rising awareness about minimal wastage of products and good quality have become consumers’ foremost urgency. This has accelerated the demand for edible packaging globally. Through edible packaging, there are no danger of wastage, impurity and degradation of content. Preservative use can be totally removed, helping the use of organic products. Apart from this, speedy industrialization in the emerging clusters of the globe, coupled with higher population growth is anticipated to bolster the growth of global edible packaging market during the period 2016-2026.
Global Edible Packaging Market: Research Methodology
The report analyses the global edible packaging market in terms of value (US$ Mn) and volume (Mn Units). It begins with an overview of the global edible packaging market, evaluating market performance in terms of revenue, followed by TMR’s analysis of key trends, drivers, and restraints witnessed in the global market. Impact analysis of the key growth drivers and restraints based on the weighted average model is also included in the report.
To compute the market size, in-depth secondary research is done. Data points such as regional splits and market split by material type, and end use has been assimilated to arrive at appropriate market estimates. The report comprises the forecast of the global revenue generated by the sales of Edible Packaging Market. TMR triangulates the data via different analysis based on supply side, demand side as well as the dynamics of Edible Packaging Market. Researchers not only conduct forecasts in terms of value, but also evaluate the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
Global Edible Packaging Market: Segmentation
Another vital feature of this report is the analysis of the Edible Packaging Market by region, material type, end use and the corresponding revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as to identify potential resources from a sales perspective of the global edible packaging market.
To understand key segments in terms of their growth and performance in the edible packaging market, Transparency Market Research has developed a market attractiveness index. The resulting index should help providers identify existing market opportunities in the global edible packaging market.
Companies Mentioned in this Report
In the final section of the report, edible packaging market competitive landscape is included to provide a dashboard view of companies that manufacture and provide services of edible packaging market. The report contains company profiles of some of the key players in the global edible packaging market. Key market players featured in this report are MonoSol, LLC (Kuraray Co. Lyd.), WikiCell Designs Inc., JRF Technology LLC., and Tate and Lyle Plc.
The global edible packaging market is segmented into:
By Material Type
- Protein Films
- Composite Films
By End User
- F&B Manufacturing
- Fresh Food
- Cakes & Confectionery
- Baby Food
- Dairy Products
- Other Food Products
- North America
- Latin America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)