Global Edible Packaging Market Overview
Recently, lot of progress has been made in food technology such as 3D printed food to innovative kitchen robots that program some of the routine aspects of cooking. But one thing that thrilled the food technology is edible packaging. Imagine completely removing the waste that’s the byproducts of food packaging.
Edible packaging is basically a thin continuous layer of edible material which is placed on or between the foods or food components. The idea behind this technology is that it takes away the plastic and paper waste from packaging foods and wraps it in something which can be eaten as a part of the whole food product. Edible packaging provides numerous benefits such as it helps in reducing waste, provides safety to the product, creates product solidity, provides convenience to the consumers and there is no concession to the product's quality as well. It is expected that the global market for edible packaging will showcase a positive growth over the forecasted period.
Market Size and Forecast
The edible packaging market, in terms of value, is estimated around USD 702.13 Million in 2017 and is expected to grow during the forecasted period at a CAGR of around 7.3%. Increase in intake of processed food & beverages, rise in hygiene concerns among people, increase in shelf life of products, reduction in packaging wastage, growth in disposable income of consumers and rise in standard of living are bolstering the growth of edible food packaging market globally. Companies spend more on packaging innovation rather than on production cost so as to improve the performance of the packaging method.
North America holds the largest market share in terms of revenue due to the increase in demand for packaged food. It was found that North America acquired a share of more than 33% of edible packaging market globally in 2016. It was seen that U.S. being both a prominent consumer and producer of edible packaging which pushed the edible packaging market in North America region.
Asia Pacific is anticipated to be the fast growing market due to the increasing urbanization and industrialization along with growing demand for packed food. Availability of raw materials and low labor cost also stimulates the market growth in this region. The increasing disposable income of the consumers also influencing the standard of living of the people which also a key factor for the growth of edible packaging market in this region. Europe is projected to showcase a promising growth to the global edible packaging market followed by North America and Asia-Pacific due to the growth of food & beverages segment in this region. The packaging industry holds a solid ground in Europe due to high demand for food packaging coupled with speedy rates of product development and innovation. Latin America and Middle East and Africa regions are also expected to show an optimistic growth during the forecasted period due to growing demand for the e-commerce sector.
Our-in depth analysis of the global edible packaging market includes the following segments:
By Material Type
By End User Type
Global edible packaging market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Major drivers for the growth of edible packaging market are growing awareness about the qualities of edible packaging such as shelf life of products and comfort of handling while maintaining the quality of product. The number of employed population is significantly rising which increases the demand for processed food.
The edible packaging market is still at its promising stage and various innovations are being made in the market. The nutritive features of food are enriched by the usage of Nano technological solutions such as multifaceted systems and Nano encapsulation. Technological advancements and reduction in packaging waste are some of the factors contributing to the growth of edible packaging market. However, the high cost of manufacturing edible packaging since it needs to meet the sanitary desires while in shipment. Contamination of food is the major barrier in the growth of edible packaging market as edible layers are prone to catch germs, dirt and other harmful particles.
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