Fort Collins, Colorado, Oct. 26, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the Edible Packaging Market size was valued at USD 967.2 Million in 2022 and is expected to reach a market size of USD 1,578.9 Million in 2032 with a CAGR of 5.1%.
Consumers are becoming increasingly health-conscious and are seeking healthier food options. Edible packaging aligns with this trend as it often incorporates nutritious ingredients. For instance, some edible wrappers may contain antioxidants, vitamins, or minerals, adding a health benefit to the packaged product. This appeal to health-conscious consumers has enabled the producers to adopt edible packaging. Moreover, the food industry places a high value on presentation and aesthetics. Edible packaging provides an innovative way to enhance the visual appeal of products. Creative and eye-catching edible packaging designs can make a product stand out on store shelves or the digital marketplace, boosting sales and brand recognition.
One of the primary factors fueling the growth of the edible packaging market is the increasing global concern for environmental sustainability. Traditional packaging materials, such as plastic, negatively impact the environment due to their non-biodegradable nature. As a result, there is a growing demand for eco-friendly alternatives, and edible packaging offers a viable solution. It is made from natural and edible materials like seaweed, rice, or potatoes, which decompose easily, reducing the burden of plastic waste on the planet.
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Segmentation Overview:
The global edible packaging market has been segmented into product type, application, end-use, and region. The polysaccharides segment is anticipated to grow significantly during the forecast period. In edible packaging, polysaccharides operate as a strong barrier to oxygen and carbon dioxide under moderate to low humidity conditions.
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Edible Packaging Market Report Highlights:
- The global edible packaging market growth is anticipated at a CAGR of 5.1% by 2032.
- The edible packaging market is experiencing robust growth due to its alignment with environmental concerns, health-conscious consumer preferences, innovative presentation opportunities, regulatory support, and ongoing research and development.
- Films and coatings accounted for a significant share in 2022. Edible films and coatings are thin layers made from edible materials such as starch, proteins, or cellulose.
- The protein segment dominates the market with a major share. Protein films are made from casein, collagen, whey, gelatin, plants, soy, and gluten.
- Some prominent players in the edible packaging market report include Monosol LLC, JRF Technology, Evoware, Nagase America, Notpla Ltd., Avani, Wikicell Designs, Amtrex Nature Care Pvt. Ltd., EnviGreen Biotech Pvt. Ltd., Regeno Bio-Bags, Devro Plc, Apeel Sciences, Coolhaus, Do Eat, Ecoactive, Mantrose UK Ltd., Tomorrow Machine, and Lactips among others.
Industry Trends and Insights:
- In 2022, the emergence of a new soybean processing plant Louis in Ohio is expected to create significant job opportunities. The company plans to invest USD 500 million to construct new plant in Wyandot County.
- A recent publication from the MSU (Montana State University), students and researchers discuss about the innovative ways to produce crops grown in Montana.
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Edible Packaging Market Segmentation:
- By Product: Films & coatings, cutlery & utensils, capsules, others.
- By Material: Protein, polysaccharides, lipids, others.
- By End-use: Food & beverages, pharmaceuticals.
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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