Edible Packaging Market is Estimated to Witness High Growth Owing...

Edible Packaging Market is Estimated to Witness High Growth Owing to Advances in Bio-Based Technology

Posted 2024-10-24 11:54:22

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Edible packaging refers to edible materials that can be consumed along with the product they wrap or contain. It is made from edible ingredients such as fruits, vegetables, herbs and spices. Edible packaging provides protection against moisture, oxygen, and other potential contaminants while maintaining freshness. It eliminates the need for disposal as they are 100% biodegradable and edible. Rising demand for sustainable packaging from food companies is a major factor driving the growth of the edible packaging market.

The global edible packaging market was valued at US$ 1,004.00 million in 2022 and is expected to exhibit a CAGR of 6.29% over the forecast period (2023-2030).

Key Takeaways

Key players: Key players operating in the edible packaging market are WikiCell Designs Inc, Devro PLC, Nagase America LLC, MonoSol LLC, JRF Technology LLC, Safetraces Inc., BluWrap, Skipping Rocks Lab, Tipa Corp, Watson Inc.

Key opportunities: Growing trend of sustainable packaging solutions and rising focus on organic and environment-friendly products present significant growth opportunities for players in the edible packaging market. Bio-based and edible packaging can help brands communicate their sustainability credentials to consumers.

Technological advancements: Advancements in bio-based technologies allow manufacturers to develop innovative Edible Packaging Market films, coatings and seals from agricultural byproducts and food processing waste. Emerging active and intelligent varieties with antimicrobial properties and ability to extend shelf-life are expanding the applications of edible packaging.

Market drivers: Strict regulations restricting use of plastics and pursuit of sustainability goals by governments and corporations worldwide are major market drivers. Increasing health consciousness and popularity of vegan and plant-based lifestyles also contribute to the growing demand for edible packaging solutions.

Current challenges in edible packaging market:

The Edible Packaging Market Size and Trend is still in a nascent stage of development and commercialization. Converting traditional packaging methods to edible alternatives requires extensive research and testing. Developing packaging materials that can provide adequate shelf life and protection without compromising the edible nature is a major challenge. Ensuring food safety standards and receiving regulatory approvals for new edible packaging solutions is another hurdle. High costs of production and maintaining consistency in material quality are some other issues limiting wider adoption of edible packaging currently.

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