Edible Packaging Market is valued at US$ 1,004.00 Mn in 2022 - Coherent Market Insights

Global Edible Packaging Market is valued at US$ 1,004.00 Mn in 2022, according to the Global Edible Packaging Market Report, by Material Type (Polysaccharides, Lipid, Surfactant, Protein Films, and Composite Films), by End Use Type (F&B Manufacturing (Fresh Food, Cakes & Confectionery, Dairy Products, Baby Food, and Other Food Products), Pharmaceuticals, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA), as published by Coherent Market Insights.

Global edible packaging market was valued at US$ 1,004.00 Mn in 2022. Edible packaging market is expected to register a CAGR of 6.29% over the forecast period (2023–2030), to reach US$ 1728.08 Mn by 2030.

Global Edible Packaging Market-Impact of Coronavirus (Covid-19) Pandemic:

In  January 3, 2020 to September 28, 2021, there have been 42,648,573 confirmed cases of COVID-19 with 683,243 deaths, reported to the WHO (World Health Organization). As of September 23, 2021, a total of 389,142,237 vaccine doses have been administered. There is no credible evidence that people can be infected with the COVID-19 virus from food or food packaging. According to a joint press release from the U.S. Department of Agriculture, the U.S. Food and Drug Administration, and the U.S. Centers for Disease Control and Prevention, some scientific studies have identified COVID-19 particles on food packaging, most of that researchers are indulged in finding the genetic fingerprint of the virus and not the live virus that can result in human infection.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/edible-packaging-market-819

Key Trends and Analysis of the Global Edible Packaging Market:

• Growing trend of using lightweight and ease of handling of the packaging is driving the edible packaging market growth. Various companies are focusing on producing sustainable, lightweight, recyclable, tough, and long shelf-life packaging. Moreover, growing preferences for hygienic packaging coupled with the rise in the pharmaceutical industry is projected to foster the edible packaging market growth in the near future.
• Growing research and development programs for developing innovative edible packaging products is an emerging trend in the market. For instance, the researchers are developing an edible packaging film for the food product. The protein-based films are powerful oxygen blockers that help in preventing food spoilage. When used in packaging the protein-based films can prevent food waste during distribution along the food chain. Thus, growing research and development programs by researchers is projected to propel the edible packaging market growth. 

North America Witnessed a Significant Market Growth

• North America is expected to have the highest growth rate during the forecast period. North American region has the highest share for the global edible packaging market in 2022 because of the surging adoption of packed food products in the region; followed by the Europe and Asia Pacific.

Key Takeaways of the Global Edible Packaging Market:

New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities are the key strategies adopted by players in the global edible packaging market. For instance,

• In October 2020, a United Kingdom startup named Notpla created an edible seaweed packaging as an alternative to conventional plastic packaging
• In January 2020, a U.S-based company named Loliware started producing algae and seaweed-based edible straws
• Major players active in the global edible packaging market include MonoSol, Kuraray Co. Ltd., JRF Technology, WikiFoods Inc., Safetraces Inc., and Tate and Lyle Plc.