Press release
Edible Packaging Market 2024: Trends, Innovations, and Growth Prospects
Edible-Packaging Market
"Edible-Packaging Market" in terms of revenue was estimated to be worth $608.84 Mn in 2023 and is poised to reach $1,054.6 Mn by 2031, growing at a CAGR of 7.30% from 2024 to 2031 according to a new report by InsightAce Analytic.
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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global Edible-Packaging market are:
* Growing Environmental Awareness Fostering Demand for Sustainable Packaging
* Innovation in Food Technology Enhancing Edible Packaging Solutions
* Regulatory Support for Eco-Friendly Alternatives
The following are the primary obstacles to the Edible-Packaging market's expansion:
* Limited Shelf Life and Durability
* Production Challenges in Maintaining Taste and Texture
* Cost Constraints in Large-Scale Adoption
Future expansion opportunities for the global Edible-Packaging market include:
* Expansion in Ready-to-Eat and On-the-Go Food Markets
* Collaboration for Research in Novel Edible Materials
* Increased Consumer Acceptance and Education
Market Analysis:
The market for edible packaging has grown as a result of factors like the rising consumption of processed foods, growing public concerns about hygiene, and an increase in packaging waste due to the use of synthetic polymers that affect the environment.
List of Prominent Players in the Edible-Packaging Market:
* MonoSol (US)
* JRF Technologies (US)
* Evoware (Indonesia)
* Nagase America LLC (US)
* Notpla Ltd. (UK)
Edible-Packaging Market Report Scope:
Report Attribute
Specifications
Market size value in 2023
USD 608.84 Mn
Revenue forecast in 2031
USD 1,054.6 Mn
Growth rate CAGR
CAGR of 7.30% from 2024 to 2031
Quantitative units
Representation of revenue in US$ Million, Volume (KT), and CAGR from 2024 to 2031
Historic Year
2019 to 2023
Forecast Year
2024-2031
Report coverage
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends
Segments covered
By Product Type, Material, End-use Industry
Regional scope
North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Recent Developments:
* In August 2022, The leading coatings manufacturer, Nippon Paint China, collaborated with BASF to launch new edible packaging that is environmentally friendly and compatible with the Nippon Paint dry-mix mortar family of products.
* In September 2021, PrimaFresh Registered 60 Organic is a premium line of organic edible plant-based coatings that was introduced by Pace International LLC. By better controlling dehydration, the product was created with the express purpose of enhancing the stone fruits' fresh attractiveness.
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Edible-Packaging Market Dynamics:
Market Drivers: Introduction of Nanotechnology and Advanced Packaging Technology
Using cutting-edge packaging and nanotechnology is a growing trend that is essential to the expansion of the market. Nanotechnology is a vital instrument for extending the shelf life of food goods. Natural polymers are widely used in developing edible coatings because they are affordable, easily obtainable, and non-toxic. The packaging's functionality is increased using nanotechnology containing vitamins, bioactive ingredients, antioxidants, antimicrobials, and minerals. Food's nutritional value is increased via nanotechnological solutions, such as multifunctional systems and nanoencapsulation.
Challenges: High Upfront Costs and Strict Requirements by the Governments
More edible packaging is produced than any other type of traditional packaging. The global market's growth is hampered by this packaging solution's greater cost when compared to alternatives that use fossil fuels. Additionally, the market's expansion is hampered by the need for secondary packaging for goods packaged with edible ingredients because of their susceptibility to dirt, pathogens, and hazardous particles. Furthermore, to prevent contamination of the layers, producers must invest more in packaging solutions, which raises the cost relative to conventional packaging and impedes market expansion. Furthermore, the Food and Drug Administration's stringent regulations are thought to harm the market, which demands that edible films be approved as safe, hygienic, and healthy. Additionally, water-soluble polymers and additives must be used to produce the films, which must be made on equipment meant for food processing. All these constraints are expected to restrict the industry's growth.
North America Is Expected To Grow With The Highest CAGR During The Forecast Period
The North American edible packaging market will likely register a significant revenue share and develop at a rapid CAGR shortly. This is because of several significant companies in the edible packaging market, the advancement of edible packaging research and development, and the growth of government financing for environmentally friendly packaging initiatives. Furthermore, the area boasts a thriving food processing sector that produces a substantial volume of food waste that can be used as input for edible packaging solutions. This has simplified manufacturers' process of locating the raw materials required to create edible packaging solutions. For example, Apeel Sciences sources leaves, stems, fruits, and flowers that are approved by Health Canada, the US Food and Drug Administration (FDA), and the World Health Organization (WHO) to obtain the necessary elements for creating edible covering.
Segmentation of Edible-Packaging Market-
By End-User-
* Food
* Fresh foods
* Bakery & confectionery products
* Frozen foods
* Beverages
* Non-alcoholic beverages
* Alcoholic beverages
* Pharmaceuticals
By Source
* Plant
* Animal
By Packaging processes -
* Antimicrobial
* Nanotechnology
* Electrohydrodynamic
* Coatings
* Microorganisms
By Raw Material-
* Seaweed And Algae
* Polysaccharides
* Lipids
* Others (Surfactants, Composites, Carbohydrates)
By Region-
North America-
* The US
* Canada
* Mexico
Europe-
* Germany
* The UK
* France
* Italy
* Spain
* Rest of Europe
Asia-Pacific-
* China
* Japan
* India
* South Korea
* Southeast Asia
* Rest of Asia Pacific
Latin America-
* Brazil
* Argentina
* Rest of Latin America
Middle East & Africa-
* GCC Countries
* South Africa
* Rest of Middle East and Africa
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Media Contact
Company Name: InsightAce Analytic Pvt. Ltd
Contact Person: Diana D'Souza
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=edible-packaging-market-2024-trends-innovations-and-growth-prospects]
Country: United States
Website: https://www.insightaceanalytic.com/
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