According to BlueWeave Consulting, the Global Edible Packaging Market is expected to grow at a significant rate during the forecast period. The Global Edible Packaging Market is projected to reach the valuation of USD 1,087 million by the year 2026 by growing at a CAGR of 5.7 % during the forecast period 2019- 2026. The market is growing owing to various factors.
The increase in popularity of edible packaging solutions can be attributed to government initiatives, advances in packaging technologies, and new sources of edible packaging solutions that can be developed. Edible packaging has seen increased adoption due to factors such as high consumption of processed food products, an increase in people's hygiene concerns, and a rise in packaging waste through the use of synthetic polymers, thus affecting the environment, thus boosting the growth of the edible packaging industry.
The approach of eco-friendly packaging helps to conserve the atmosphere/environment as the products are both edible and harmless for human use, thereby reducing the use of plastic packaging ravage and propelling the growth of the global edible packaging industry. Plastic pollution and waste are considered harmful to the atmosphere as it takes a huge amount of time to recycle plastics. All of these factors helped the development of the edible market for packaging.
The manufacturing of edible packaging incurs a high cost since, during the transit, the packaging needs to meet the sanitary requirements. In fact, the edible layers are more likely to catch soil, germs, and other harmful particles that may contaminate the food product. Therefore, businesses have to spend a lot of money to prevent these layers from collecting dirt and germs.
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Edible Packaging Market: Competitive Landscape
The major market players in the Global Edible Packaging are Nagase America LLC, Devro PLC, Monosol LLC, JRF Technology, Evoware, Notpla LTD, Tipa Corp., Avani, Incredible Foods Inc., Amtrex Nature Care Pvt. LTD., Envi-Green Biotech Pvt. LTD., Regeno Bio Bags, Apeel Sciences, Coolhaus, Do Eat, Ecoactive, and other Prominent Players are expanding their presence in the market by implementing various innovations and technologies.
The plant segment in Source is expected to grow at the highest rate during forecast horizon
Based on Source, the plant segment is supposed to be the most significant contributor in the edible packaging market during the forecast horizon, due to the growing concerns about single-use plastics and their potential ban. Advances in edible packaging sources have also helped to strengthen manufacturers ' prospects. Edible packaging helps to reduce waste otherwise produced from single-use plastics while also providing a sustainable option for foodservice and distribution applications for container applications.
Lessening in Packaging Waste
Edible packaging helps to preserve the environment as the consumer with the food product will consume the box itself, thus reducing the waste from packaging. Edible packaging also includes packaging films made up of vitamins, proteins, and probiotics of milk proteins, which have essential nutrients and are capable of providing the food with an oxygen barrier, thereby avoiding contamination. Plastic pollution and waste are considered harmful to the atmosphere as it takes a huge amount of time to recycle plastics. All of these factors helped the development of the edible market for packaging.
Technological advancement and Innovations
The edible packaging industry is still in its embryonic stage, and the market is making various advances. Nutrition nutritional characteristics are improved through the use of nanotechnology technologies such as Nano encapsulation and multifaceted systems. Nano encapsulation of active composites with edible covers helps protect the food from moisture and heat and prevents the entry of other particles into the food.
North America accounts for the lion’s share of the global Edible Packaging market during the anticipated period.
By geography, the global Edible Packaging Market segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific is projected to grow at the highest CAGR due to the increasing awareness and knowledge of edible packaging benefits among customers. Rising and rising consumers ' disposable income, which affects their daily lives, is also likely to reflect favorably on the demand and popularity for global edible packaging. North America is expected to account for the most extensive user base in edible packaging solutions.
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