by Edible packaging is primarily packaging material that acts as packaging and as a consumable food item. Edible packaging is made from edible ingredients like lipids, polysaccharides, and proteins that degrade easily in ambient temperatures and dissolve in water. Edible packaging is expected to curb plastic waste since it is sustainable and decomposable. Products associated with edible packaging include fruit coating, dried fruits, nuts, confectionery items, and meat products, and beverages.
The global edible packaging market is estimated to be valued at US$ 1067.15 Mn in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Growing sustainability concerns is one of the key drivers expected to boost the global edible packaging market growth over the forecast period. Plastic packaging has emerged as a major threat to the environment and wildlife. A rise in government initiatives to ban single-use plastic is encouraging manufacturers to adopt sustainable packaging solutions. This is expected to propel the adoption of edible packaging made from natural ingredients such as starch, lipids, and proteins, among others. Moreover, growing demand for packaged convenience food and beverages is anticipated to support market growth. The convenience of single-serve edible packaging for on-the-go consumption will further fuel the demand.
Segment Analysis
The global edible packaging market is dominated by the flexible packaging sub-segment. Flexible packaging accounts for over 60% of the market share as they provide easier sealing and are lightweight. They can be easily molded into any shape facilitating packaging of products of varied shapes and sizes.
PEST Analysis
Political: Governments across the globe are promoting the use of eco-friendly and biodegradable packaging to reduce plastic waste. Various regulations support the use of edible films and coatings.
Economic: High demand from food and beverage industry is driving the market growth. Cost savings for manufacturers using edible films instead of synthetic polymers boost adoption.
Social: Rising health and environmental concerns encourage consumers to choose sustainable packaging options.Preference for natural and clean label products fuels the demand.
Technological: Advances in material science facilitates development of innovative edible films with improved properties. Nanotechnology and active packaging techniques extend shelf-life.
Key Takeaways
Global Edible Packaging Market Size is expected to witness high growth over the forecast period between 2023 to 2030.
Regional analysis:
The Asia Pacific market is projected to grow at the fastest pace during the forecast period. The presence of major food processing companies and growing environmental concerns in densely populated countries like India and China drives growth. Rising disposable incomes support market expansion.
Key players operating in the edible packaging market are Tianshui Huatian Technology Co Ltd, Hana Micron Inc., lingsen precision industries Ltd, Formosa Advanced Technologies Co. Ltd (FATC), Advanced Semiconductor Engineering Inc. (ASE Inc.), Amkor Technology Inc., Jiangsu Changjiang Electronics Technology Co. Ltd, Powertech Technology, King Yuan Electronics Corp. Ltd, ChipMOS Technologies Inc., TongFu Microelectronics Co., and Signetics Corporation. Tianshui Huatian is a dominating player known for innovative edible films made from different polymers and biomaterials.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
