Market Overview
Processed foods occupy a significant share of many diets around the globe as these are widely available, cheap, and intensively marketed. The demand for edible packaging is rising dramatically across the globe owing to the growing consumption of processed food in many high-income countries leading to the increase in sales of processed and packaged food. For instance, the sales of packaged food across the globe were nearly USD 2,339.7 billion in 2015 and was gradually increased to USD 2578.9 billion in 2017 and USD 2,644.1 billion in 2019. Furthermore, advancement in technologies used in packaging and the ability of the edible packaging to maintain and prolong the shelf life of products to enhance the quality of the food is also propelling the market growth.
Furthermore, The growth of the edible packaging market across the globe is witnessing growth on account of the increasing packaging waste generation and coupled with the favorable government regulations across the world. For instance, United States generated nearly 80 million metric tons of packaging waste every year, as per Environmental Protection Agency. Nearly, 50% of the packaging waste in the country arises from food and beverage products. Owing to these high packaging waste generation and rising awareness regarding environmental concerns, the U.S. government is opting for alternative sources such as edible packaging.
Global Edible Packaging Market was valued around US$ 515 million in 2020 and is expected to showcase a CAGR of around 5.5% during the forecast period (2021-2027).
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Global Edible Packaging Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Material Type, the market is primarily fragmented into
· Protein
· Polysaccharides
· Lipids
· Composite films
· Others
Amongst Material Type, the market is fragmented into proteins, polysaccharides, lipids, composite films and others. The proteins segment of the global edible packaging market was valued at USD -- billion in 2020 and is likely to reach USD -- billion by 2027 growing at a CAGR of --% from 2021-2027. However, polysaccharides segment is also expected to grow at a substantial CAGR in the projected timeframe.
By Source, the market is primarily segmented into
· Plant
· Animal
By Source, the plant segment dominated the global edible packaging market and will row at --% CAGR to reach US$ -- billion by the year 2027 owing to the growing demand for plant-based packaging material.
By End-Use, the market is primarily segmented into
· Food & Beverages
· Pharmaceuticals
By End-Use, the food & beverages segment dominated the global edible packaging market and will row at --% CAGR to reach US$ -- billion by the year 2027. However, the pharmaceuticals segment is also anticipated to grow at a considerable CAGR during the forecast period.
Edible Packaging Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Italy, France, Spain, and Rest of Europe)
· Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific)
· Rest of the World
Geographically, the North America region dominated the edible packaging market with almost US$ -- billion revenue in 2020 owing to increasing packaging waste generation and coupled with the favorable government regulations.
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Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the edible packaging market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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