Edible Packaging Market Analysis and Growth Forecast 2021-2028
The global edible packaging market size is projected to grow from USD 527 million in 2019 to USD 679 million by 2025, at a CAGR of 4.3%.
Edible packaging materials are made from proteins, polysaccharides, and lipids which are transformed into thin films. These films are converted into bags and pouches, which are then used for wrapping food. They are commonly termed as food wrapped in food. Food packaged in edible packaging material is safe for human consumption. The main purpose of edible packaging is to create a strong barrier between the food and the external environment, to increase its shelf life and quality and also reduces waste generation. A large amount of food packaging material is found in landfills.
Coherent Market Insights have included a latest addition of global market research report titled Edible Packaging Market to its expansive repository. The report studies primary and secondary research in order to analyze the data effectively.
Top Key Players in Edible Packaging market: BluWrap, Devro PLC, JRF Technology LLC, MonoSol LLC, Safetraces Inc., Skipping Rocks Lab, Tate & Lyle Plc, Tipa Corp, Watson, Inc, and WikiCell Designs Inc.
The scope of the Report:
The report segments the global Edible Packaging Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of the market. A magnified look at the segment-based analysis is aimed at giving the readers a closer look at the opportunities and threats in the market. It also addresses political scenarios that are expected to impact the market in both small and big ways. The report on the global Edible Packaging Market examines changing regulatory scenarios to make accurate projections about potential investments. It also evaluates the risk for new entrants and the intensity of the competitive rivalry.
North America is the highest producer and consumer of edible packaging. The U.S. Environmental Protection Agency (EPA), estimated that 30.2% of household waste is from food packaging. Edible packaging is an excellent solution to reduce this waste. This creates a lucrative environment for growth of the edible packaging market in the region.
Edible Packaging Market: Key Developments
- In 2018, WikiCell Designs secured USD 10 million in investment capital from flagship ventures and polaris venture partners. The company aims at making an impact on the world by replacing the plastic and other forms of packaging with delicious natural edible packaging.
- In Jan 2017, BluWrap introduced a new business model that allows customers to license its technology to ship seafood, pork and other proteins globally. There is an increase in demand from global protein suppliers, owing to which it uses a licensing model for its technology used in edible packaging of protein products.
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