Global edible packaging market is expected to grow at a notable CAGR of 7.3% during the forecasted period. Moreover, the global edible packaging market is expected to grow with high pace during the forecasted period due to the rapid increase in intake of processed food & beverages, rise in hygiene concerns among people and rise in shelf life of products. The increasing disposable income of the consumers also influencing the standard of living of the people which also a key factor for the growth of edible packaging market globally.
The global edible packaging market is segmented into end user type such as pharmaceuticals, f&b manufacturing, fresh food, cakes & confectionery, baby food, dairy products, other food products and other end users. Among these segments, f&b manufacturing is the fastest growing segment. Edible packaging gives a barrier to carbon dioxide and oxygen between the air and food items which promotes the time span of usability of the product. With the increasing revolutions, edible films can also be used as water soluble films and flavored mouth fresheners. Several companies have started marketing edible films for oral hygiene and as teeth whitening strips.
In terms of regional platform, Asia Pacific countries such as China, India and Japan accounted for the fastest growing market of global edible packaging in terms of revenue in 2017 due to the increasing urbanization and industrialization along with growing demand for packed food. Availability of raw materials and low labor cost also stimulates the market growth in this region.
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North America is expected to hold the largest market for edible packaging due to the increase in demand for packaging food. U.S. being both a prominent consumer and producer of edible packaging which pushes the edible packaging market in North America region.Apart from this, Europe showcases a promising growth to the global edible packaging market due to the growth of food & beverages segment in this region.
Rising demand for Edible Packaging from Food and Beverage Manufacturing
Food and beverage manufacturing segment occupied the leading position in Edible Packaging Market. It is estimated that the market share of food and beverages in edible packaging was more than 63% in 2016. The demand for edible packaging is stronger in fresh food packaging and the scenario will expected to remain the similar during the forecasted period.
Demand for processed food products was amplified over past few years. These food products contain fats, salts, added sugar and oil to enhance the flavor and taste of the food. These processed foods require longer shelf life packaging which edible coatings are capable of providing. Due to large intake of processed foods and ready to eat snack foods help in stimulating the growth of edible packaging market growth globally.
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Developing economies such as China, India and Brazil has led to the growth of edible packaging market due to the increase in disposable income of consumers and demand for good quality packaged food.
The report titled “Edible Packaging Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global edible packaging market in terms of market segmentation by material type, by end user type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the edible packaging market which includes company profiling of WikiCell Designs Inc., MonoSol LLC, Tipa Corp., Watson Inc., Devro plc., Tate & Lyle Plc., JRF Technology LLC, Safetraces, Inc., BluWrap and Skipping Rocks Lab. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global edible packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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