Press release
The Edible Films and Coatings Market: A Dynamic Growth Path Forecasted to Reach $4.89 Billion by 2028
The Edible Films and Coatings Market
The edible films and coatings market has experienced robust growth, escalating from $3.2 billion in 2023 to an estimated $3.46 billion in 2024, reflecting a Compound Annual Growth Rate (CAGR) of 8.3%. The market is poised for continued strong growth, with projections anticipating an expansion to $4.89 billion by 2028, sustaining a CAGR of 9.0%.
Driving Forces for Market Expansion:
1. Surge in Global Sales of Fruits and Vegetables:
The increasing sales of fruits and vegetables worldwide are expected to drive the growth of the edible films and coatings market. These films and coatings play a pivotal role in packaging fruits and vegetables, enhancing shelf life, and adhering to eco-friendly practices. A report by FreshPlaza notes that the sale of organic fresh produce reached $2.3 billion in the first quarter of 2022, marking a 4% increase. This uptick in global fruit and vegetable sales is a significant contributor to the flourishing edible film and coating market.
2. Growing Demand for Organic Products:
The rising consumer demand for organic products is poised to boost the edible films and coatings market. Organic products, produced and processed according to specific standards, often require specialized packaging to maintain their organic status. Edible films and coatings, crafted from natural and organic ingredients, align seamlessly with the organic branding, ensuring consistency with the organic nature of the contents. The United States witnessed organic food sales surpassing $60 billion in 2022, with total organic sales reaching a record high of $67.6 billion, including both food and non-food products. Organic produce sales constituted $22 billion, making up 15% of total fruit and vegetable sales in the nation.
Explore the Global Edible Films And Coatings Market with a Detailed Sample Report:
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Key Market Players:
Leading companies contributing to the edible films and coatings market include Tate & Lyle PLC, DuPont de Nemours Inc., Döhler GmbH, Royal DSM N.V., and Cargill Inc., among others. These industry leaders play a vital role in meeting the increasing demand for edible films and coatings while ensuring product quality.
Market Trends:
1. Technological Advancements in Edible Films and Coatings:
Technological advancement is a pivotal trend reshaping the edible films and coatings market. Major market players are focusing on innovative technologies to strengthen their position in the market. For instance, AgroFresh Solutions Inc. introduced VitaFresh Botanicals - Life Ultra, a plant-based film utilizing nanoemulsion technology for superior coating, reducing dehydration, and enhancing food preservation.
2. Innovations in Edible Films and Coatings:
Companies in the edible films and coatings market are innovating with new products such as plant-based edible coatings to cater to larger customer bases, increase sales, and boost revenue. Akorn Technology, for instance, launched protein-based edible coatings for fresh produce, effectively extending shelf life and improving quality, safety, and appearance.
Regional Dynamics and Market Segmentation:
North America led the edible films and coatings market in 2023, with Asia-Pacific expected to be the fastest-growing region during the forecast period.
The edible films and coatings market covered in this report is segmented -
1) By Ingredient Type: Protein, Polysaccharides, Lipids, Composites
2) By Application: Dairy products, Bakery and Confectionery, Fruits and Vegetables, Meat, Poultry, and Seafood, Other Applications
3) By End-User: Food and Beverage, Pharmaceuticals
Access the Complete Report for In-Depth Analysis:
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Edible Films And Coatings Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Edible Films And Coatings Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on edible films and coatings market size, edible films and coatings market drivers and trends, edible films and coatings market major players, competitors' revenues, edible films and coatings market positioning, and edible films and coatings market growth across geographies. The edible films and coatings market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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