New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Edible Films And Coatings Global Market Report 2023" - https://www.reportlinker.com/p06319458/?utm_source=GNW
, JRF Technology LLC, BluWrap, CP Kelco, Nagase & Co. Ltd., FMC Corporation, and MonoSol LLC.
The global edible films and coatings market grew from $2.95 billion in 2022 to $3.2 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The edible films and coatings market is expected to grow to $4.25 billion in 2027 at a CAGR of 7.4%.
The edible films and coatings market consists of sales of protein-based coatings such as collagen films, gelatin films and wheat gluten films.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The edible films and coatings market consists of sales of edible films and coatings and related products by entities (organizations, sole traders, and partnerships) used for preventing moisture loss, maintaining quality, safe transportation, and storage of foods. Edible films and coatings refer to thin layers of edible materials applied to food products that play an important role in their conservation, distribution, and marketing.
North America was the largest region in the edible films and coatings market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this edible films and coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of ingredients in edible films and coatings are protein, polysaccharides, lipids, and composites.Proteins refer to a class of nitrogenous organic compounds that have large molecules composed of one or more long chains of amino acids.
The applications include dairy products, bakery and confectionery, fruits and vegetables, meat, poultry, seafood, and other applications. The various end-users include food and beverages and pharmaceuticals.
The increase in the sales of fruits and vegetables across the globe is expected to propel the growth of the edible films and coating market going forward.Fruits and vegetables are the sources of food that are obtained from plants.
Edible films and coatings are used for the packing of fruits and vegetables as they increase the shelf life and are eco-friendly. According to a report by FreshPlaza, a Netherlands-based media platform for the fresh produce industry, the sale of organic fresh produce reached $2.3 billion in the first quarter of 2022, an increase of 4% from previous years. This increase in the sales of fruits and vegetables across the globe is driving the edible film and coating market.
Technological advancement is a key trend gaining popularity in the edible films and coatings market.Major companies operating in the edible films and coatings market are focusing on product innovation with innovative technologies to strengthen their position in the edible films and coatings market.
For instance, in April 2021, AgroFresh Solutions Inc., a US-based food freshness and quality solutions provider, launched a new plant-based film called VitaFresh Botanicals – Life Ultra that uses a new innovative technology involving a nanoemulsion process that generates smaller particles, thereby offering a superior coating of foods and more protection. This product ensures the freshness of the product, reduces dehydration and reduces the food loss reduction for certain tropical fruits.
In November 2022, Sherwin-Williams Company, a US-based company manufacturer of paint and coatings, reached an agreement to purchase Peter Möhrle Holding and the GP Capital UG partnership, which included Oskar Nolte GmbH and Klumpp Coatings GmbH for an undisclosed amount.With this acquisition, Sherwin-Williams is expected to develop profitably faster in the worldwide industrial wood market and continues to follow its acquisition strategy of complementary, superior, and differentiating companies.
Oskar Nolte GmbH is a Germany-based producer and distributor of industrial coating products.
The countries covered in the edible films and coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The edible films and coatings market research report is one of a series of new reports that provides edible films and coatings market statistics, including edible films and coatings industry global market size, regional shares, competitors with an edible films and coatings market share, detailed edible films and coatings market segments, market trends and opportunities, and any further data you may need to thrive in the edible films and coatings industry. This edible films and coatings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06319458/?utm_source=GNW
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