Rockville, Aug. 15, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a market research and competitive intelligence provider, the global Edible Packaging Market is valued at US$ 1.11 billion in 2023. Worldwide sales of edible packaging materials are projected to increase at a CAGR of 14.2% from 2023 to 2033, according to a new study published by Fact.MR, a market research and competitive intelligence provider. Growing demand for biodegradable packaging solutions and high focus on packaging innovations are leading to rapid market growth.
Edible packaging solutions ensure secure and sanitary transportation of edible food products. The landscape is witnessing significant changes owing to multiple prevailing dynamic forces. Conventional packaging materials generate waste that is harmful to the environment, and edible packaging solutions with zero wastage are therefore becoming popular.
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Several prominent businesses are embracing different types of edible packaging solutions. They work as oxygen barriers for food and are generally manufactured from probiotics, vitamins, and milk proteins.
Key Takeaways from Market Study
- The global edible packaging market stands at US$ 1.11 billion in 2023.
- Demand for edible packaging solutions is predicted to rise at a substantial CAGR of 14.2% through 2033.
- The global market is set to reach a value of US$ 4.19 billion by 2033-end.
- Demand for edible packaging solutions in Germany is predicted to increase at a healthy CAGR of 6.5% from 2023 to 2033.
- The United States market is projected to expand at a 6.6% CAGR through 2033.
- Protein-based edible packaging solutions held a 49% share of the global market revenue in 2022.
- Utilization of edible packaging solutions in the food & beverage sector constituted 80.1% of the market share in 2022.
“Manufacturers in the packaging sector are increasingly adopting lightweight packaging solutions, utilizing air cushion bags, which contributes to the growing acceptance of lightweight and edible food & beverage packaging options,” says a Fact.MR analyst.
Increasing Need for Advanced Recycled Packaging Solutions
Prominent manufacturers are actively adopting nanotechnology techniques, such as multifunctional and nano-encapsulation systems, to enhance the nutritional value of food products and protect them from moisture, heat, and contaminants. Increasingly, multiple end users are limiting the use of single-use plastics, driving the demand for biodegradable packaging solutions and presenting global opportunities for players in the industry.
Well-established Processed Food Industry in the United States
Demand for edible packaging materials in the United States is forecasted to increase at a CAGR of 6.6% from 2023 to 2033. Rising demand for packaged food due to lifestyle changes, business countenancing improvements & developments, and the huge consumer base for edible packaging solutions offer opportunities for suppliers in this country.
The majority of food service outlets and manufacturers from the food & beverages sector are adopting edible packaging solutions to reduce packaging waste. A paradigm shift from conventional single-use plastics to reducing packaging waste is estimated to open up opportunities for key suppliers of edible packaging products in the United States.
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Anticipated Developments in the United States' Edible Packaging Market:
"Surge in Adoption of Edible Packaging Solutions Fueled by Innovations and Tax Incentives"
The United States is poised to witness a notable shift towards the adoption of edible packaging solutions, fueled by innovative business practices and incentivizing tax measures.
Projections indicate that the demand for edible packaging materials in the United States will experience a steady ascent, registering a Compound Annual Growth Rate (CAGR) of 6.6% from 2023 to 2033.
Driven by the dynamics of ever-evolving lifestyles, there is an escalating demand for packaged foods within the United States. This, in turn, has prompted a heightened interest in edible packaging products. Businesses are increasingly veering away from traditional packaging methods, opting for advancements that align with sustainability and efficiency. Concurrently, players in the food service and food & beverage manufacturing sectors are embracing suitable packaging alternatives to curtail waste.
Furthermore, the presence of numerous food packaging manufacturers within the United States contributes to the overall revenue streams within this sector. Notably, the landscape is enriched by federal tax benefits that incentivize end users to opt for edible packaging materials, thereby propelling demand even further.
Winning Strategy
Key players in the industry are investing to introduce improved products to match customer requirements and gain a competitive edge.
For instance:
- In February 2021, JRF Technology LLC introduced an innovative edible film strip containing elderberries from INS Farms.
Prominent manufacturers of edible packaging solutions include WikiCell Designs Inc., Safetraces, Inc., Tate & Lyle Plc., Tips Corp, Watson, Inc., MonoSol, LLC, Internpack, Devro Plc., Coveris Holdings, Dupont de Nemours and Company, Nagase & Co. Ltd., and Ingredion Inc.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the edible packaging market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on material (proteins, polysaccharides, lipids), source (plants, animals), packaging process (nanotechnology, antimicrobial, electrohydrodynamic, coatings, microorganisms), and end use (food & beverages, pharmaceuticals), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Checkout More Related Studies Published by Fact.MR Research:
Fresh Food Packaging Market: Worldwide demand for fresh food packaging market is forecasted to increase at a CAGR of 5% from 2022 to 2032. In 2022, the global fresh food packaging market is valued at US$ 150 billion and is estimated to reach a market size of US$ 245 billion by 2032.
Non-Alcoholic Beverage Packaging Market: The global non-alcoholic beverage packaging market is projected to expand at a steady CAGR of 5.1% through 2033. Worldwide demand for non-alcoholic beverage packaging solutions is predicted to reach a market value of US$ 235 billion by the end of 2033, up from US$ 143 billion in 2023.
Fresh Meat Packaging Market: The global fresh meat packaging market is estimated at US$ 3.1 billion and is predicted to reach a market size of US$ 4.72 billion by 2033. Worldwide demand for fresh meat packaging solutions is predicted to rise at a CAGR of 4.3% from 2023 to 2033.
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