Edible Packaging Market is Expected to Surpass US$ 1,723.6 Mn by 2028 - Coherent Market Insights

Edible packaging is designed to be wrapped the food products and can be consumed along with food. For example, ice cream cone – a waffle or sugar-based cone is one of the popular edible packaging. Food &beverage and pharmaceutical are two major end-user of the edible packaging. Advanced edible packaging is produced from milk proteins and casein is used around the food products as these casein films keep the food fresh and are also less exposed to oxygen.

Market Statistics:

The global edible packaging market is expected to surpass US$ 1,723.6 Mn in terms of value by the end of 2028.

Global Edible Packaging Market: Drivers

Growing enhanced quality of packed food is expected to foster the market growth of the edible packaging. Rising health concerns coupled with the growing popularity of edible packaging due to its various benefits offered is again expected to foster the market growth of the edible packaging. For example when edible milk protein is sprayed on cereal, it coats every piece with a milk-resistant shield and it would help cereal to maintain its crunch. Thus, growing demand for improved quality of packed food is augmenting the market growth.

Global Edible Packaging Market: Opportunities

Robust growth in the food &beverage industry is projected to bring new market opportunities in the near future. This is driven by increasing spending on food products by consumers due to the increasing purchasing power of the consumers. According to the Economic Research Service United States Department of Agriculture, in 2019, U.S. consumers, businesses, and government entities spent $1.77 trillion on food and beverages in grocery stores and other retailers and on away-from-home meals and snacks.

Global Edible Packaging Market: Recent Developments

In November 2020, researchers from IIT (Indian Institute of Technology), Kharagpur, developed biodegradable food packaging material from cucumber peels.

In June 2020, EU-funded project named YPACK was launched for development of biodegradable food packaging products which are edible in nature.

In February 2020, a packaging solutions provider named Toppan launched food packaging systems that includes edible packaging products.

Global Edible Packaging Market: Restraints

Handling issues in specific applications are projected to hinder the market growth of the edible packaging. The layer of edible packaging does not offer as handling issues in specific applications. Moreover, edible packaging in the liquid product can be easily punctured and thus require a very gentle handling throughout the production process. This factor is expected to restrict the market growth over the forecast period.

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

In the U.S. from 3 January 2020 to 3:36pm CEST, 28 September 2021, there have been 42,648,573 confirmed cases of COVID-19 with 683,243 deaths, reported to WHO. As of 23 September 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, although some scientific studies have identified Covid-19 particles on food packaging, most of that research is finding the genetic fingerprint of the virus, not live virus that can result in human infection.

To know the latest trends and insights prevalent in the Global Edible Packaging Market, click the link below:

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

Key Takeaways:

• The global edible packaging market was valued at US$ 1,004.8 Mn in 2020 and is forecast to reach a value of US$ 1,723.6 Mn by 2028 at a CAGR of 6.9% between 2021 and 2028.
• The pharmaceutical end-use segment was valued US$ 125.1 Mn in 2020 and is expected to witness a CAGR of 7.2% over the forecast period.

Market Trends:                                                                           

The growing trend of using lightweight and ease of handling is driving the market growth of edible packaging. Various companies are focusing on producing sustainable, lightweight, recyclable, tough, and long shelf-life packaging is also expected to foster the market growth of edible packaging. Moreover, growing preferences for hygienic packaging coupled with the rise in the pharmaceutical industry is further projected to foster the market growth of the edible packaging in the near future.

Growing research and development programs for developing innovative edible packaging products is an emerging trend in the market. For instance, US researchers are developing an edible packaging film for food made from protein-based food product. The protein-based films are powerful oxygen blockers that help prevent food spoilage. When used in packaging, they could prevent food waste during distribution along the food chain. Thus, growing research and development programs by researchers is projected to propel the market growth of the edible packaging.

Global Edible Packaging Market: Competitive Landscape   

Major players operating in the global edible packaging market include, MonoSol, LLC (Kuraray Co. Lyd.), JRF Technology, LLC WikiFoods, Inc., and Tate and Lyle Plc