by Edible packaging refers to packaging materials that are entirely edible and aimed at protecting food products during transportation and storage. Edible packaging is made from edible ingredients like proteins, polysaccharides, lipids among others. It offers several advantages over conventional plastics such as being biodegradable, non-toxic and environment friendly. It also helps improving the shelf life of perishable food items. There is a growing need for sustainable and eco-friendly packaging solutions from food producers and retailers amid rising environmental concerns regarding use of plastics.
The Global Edible Packaging Market is estimated to be valued at US$ 90.06 Bn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period from 2024 to 2030.
Key Takeaways
Key players operating in the Edible Packaging are Tianshui Huatian Technology Co Ltd, Hana Micron Inc., lingsen precision industries Ltd, Formosa Advanced Technologies Co. Ltd (FATC), Advanced Semiconductor Engineering Inc. (ASE Inc.), Amkor Technology Inc., Jiangsu Changjiang Electronics Technology Co. Ltd, Powertech Technology, King Yuan Electronics Corp. Ltd, ChipMOS Technologies Inc., TongFu Microelectronics Co., and Signetics Corporation.
The key opportunities in the Edible Packaging Market Size include development of bioplastics from natural polymers and investments towards commercialization of edible films and coatings. There is a huge scope for edible packaging for seafood, poultry, meat and fruits & vegetables.
Globally, the edible packaging market is expanding due to growing demand from food retailers and producers across North America, Europe and Asia Pacific region. China, US, Canada, UK and Germany currently dominate the edible packaging market. However, other developing nations are also expected to significantly contribute to the overall market growth in coming years.
Market drivers
The primary driver for growth of Edible Packaging Market is the sustainability concerns towards use of plastics. There is a rising demand for eco-friendly solutions from food industry to address plastic waste management issues. Edible packaging helps reduce dependency on petroleum-based plastic products and provide a completely biodegradable packaging film. This enhances the marketability of food brands with rising environmentally conscious consumers.
PEST Analysis
Political: Regulatory bodies like the FDA impose strict checks on the quality and safety of edible packaging to ensure harmlessness for human consumption. Regulations promote use of organic and eco-friendly materials for edible coatings and films.
Economic: The edible packaging market is gaining traction due to rising food waste reduction initiatives. Switching to edible wrappings from plastic packaging helps companies comply with environmental norms and cost-cutting goals.
Social: Consumers demand sustainable and eco-friendly packaging solutions. Edible coatings are preferred for their natural appeal and ability to increase the shelf life of fruits, nuts, etc. without extra waste.
Technological: Advancements in materials research facilitates development of novel biopolymers for edible coatings. Active and intelligent packaging using nanotechnology boosts nutritional and preservative properties. Customizable moisture barriers and antioxidant releasing films are increasing applications.
Geographical Concentration
The Asia Pacific region dominates the edible packaging market in terms of value due to growing processed food industries and rising middle-class population in China and India. These countries are major producers and consumers of fruits and processed seafood that utilize natural coatings for extension of shelf life. North America also accounts for a significant share led by initiatives to replace plastic with edible plant-based coatings in the retail sector of the US and Canada.
Fastest Growing Region
Europe is projected to be the fastest growing regional market for edible packaging during the forecast period on account of stringent government regulations against single-use plastics. Additionally, the ban on microplastics in cleaning products and personal care items in several EU nations is fueling innovation in natural biopolymers to develop fully edible sachets, wraps, and bottles by European manufacturers.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
