Edible Films and Coatings Market: A Delectable Future with Projected Growth to Exceed US$ 4,871.0 Million by 2033 at a Remarkable 8.2% CAGR

The edible films and coatings market is anticipated to expand from US$ 2,210.0 million in 2023 to over US$ 4,871.0 million by 2033 at a CAGR of 8.2%.

The demand for edible films and coatings is propelled by factors like food preservation and quality maintenance, consumer preference for natural and safe products, customization and personalization, regulatory support, and technological advancements.

Challenges exist for companies such as achieving film performance and stability, cost efficiency, scale-up and production scalability, and consumer acceptance and perception. Opportunities for growth in the industry include incorporating functional ingredients, convenience and portability, collaboration and partnerships, and emerging market potential.

Latest trends in the industry include clean label and natural ingredients, active packaging and functional films, intelligent packaging and smart films, novel applications, and online retail and e-commerce.

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Key Takeaways in the Market:

1. North America holds a significant share of 36.7% in the edible films and coatings market due to the increasing adoption of sustainable packaging solutions and growing consumer demand for safe and eco-friendly products.
2. Germany has a market share of 3.8% driven by its emphasis on sustainability and eco-friendly solutions. China, with a CAGR of 7.9%, recognizes the need for sustainable alternatives and solutions.
3. India's food processing industry is leading to a growth trajectory of 6.4% supported by initiatives promoting sustainable packaging practices.
4. Polysaccharides contribute to a 43.4% share of the market due to their versatility and effectiveness.
5. Fruits and vegetables hold a share of 38.2% as edible films and coatings help prevent post-harvest losses and cater to consumer preferences for natural products.

Competitive Landscape in the Edible Films and Coatings Market

1. The global market for edible films and coatings is competitive, and several global competitors are crucial to industry growth. Manufacturing businesses are investing extensively in research and development to create alternatives to plastic packaging, and edible films and coatings.
2. Companies turned their focus to producing eco-friendly and biodegradable edible films and coatings. To strengthen their foothold in the trash bag market, manufacturers used methods such as mergers and acquisitions, new product development, and distribution channel growth.

The Major Key Players Are:

1. Amcor Plc
2. Berry Global Group
3. Sealed Air Corporation
4. DS Smith plc
5. Crown Holding, Inc.
6. Smurfit Kappa Group
7. Huhtamaki Oyj
8. Genpak LLC
9. Pactiv LLC
10. Georgia-Pacific LLC
11. Winpak Ltd.
12. WestRock Company
13. Sabert Corporation
14. International Paper Company
15. Fabri-Kal
16. Reynolds Group Holding Limited
17. Detpak
18. Dart Container Corporation

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Latest Developments:

1. In April 2021, AgroFresh Solutions Inc., the United States-based provider of food freshness and quality solutions, launched VitaFresh Botanicals - Life Ultra, a new plant-based film. It employs a new innovative technology involving a nanoemulsion process that generates small particles, resulting in the best coating of foods and increased protection.
2. Sherwin-Williams Company, a paint and coatings manufacturer based in the United States, agreed to buy Peter Möhrle Holding and the GP Capital UG partnership, which includes Oskar Nolte GmbH and Klumpp Coatings GmbH, for an unknown sum in November 2022. Sherwin-Williams expects to develop economically fast in the global industrial wood market with this acquisition and might continue to pursue its acquisition strategy of complementary, large, and distinguishing enterprises.

Rigid Food Containers Market Outlook By Category

By Material:

Plastic
Paper & Paperboard
Metal
Glass

By Packaging Type:

Trays & Clamshell
Bottles & Jars
Cans
Cups & Tubs
Boxes & Cartons
Others (Bowls, etc.)

By Application:

Meat, Poultry & Seafood
Dairy Products
Bakery & Confectionary
Ready-to-eat Food
Baby Food
Produce Food
Other Foods (Spices, Sauces, etc.)

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.