Edible Packaging Market to Touch USD 1397.72 Million by 2030 on Account of Growing Consumer Awareness and Preference for Eco-Friendly Options | Report by SNS Insider
According to SNS Insider, as the world grapples with the urgent need to address plastic pollution and environmental degradation, edible packaging emerges as a promising alternative that holds significant potential for growth.
Pune, Aug. 07, 2023 (GLOBE NEWSWIRE) — As per the SNS Insider report, “The Edible Packaging Market reached USD 910.75 million in 2022 and is projected to reach USD 1397.72 million by 2030, experiencing a CAGR of 5.5% during the forecast period spanning from 2023 to 2030”.
Market Report Scope
Edible packaging, also known as food-grade packaging or biodegradable packaging, refers to a type of packaging material that is safe for human consumption and can be ingested along with the food it encloses. This innovative packaging solution aims to address the environmental concerns associated with traditional non-biodegradable packaging materials, such as plastic, which contribute to pollution and harm to wildlife. One of the primary advantages of edible packaging is its positive impact on the environment. Traditional plastic packaging takes hundreds of years to decompose, leading to massive accumulations of waste in landfills and oceans.
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Consumers are becoming increasingly conscious of the impact of their purchasing choices on the environment. As eco-consciousness rises, there is a growing demand for products that come in eco-friendly packaging. Edible packaging aligns perfectly with this trend, as it not only reduces waste but also enhances the overall product experience. Brands that embrace edible packaging can attract environmentally-aware consumers, building stronger brand loyalty and positive brand perception. Advancements in food technology and material sciences have led to significant improvements in the taste, texture, and shelf life of edible packaging. Researchers are continuously exploring new materials and processing techniques, leading to safer and more versatile edible packaging options. As these innovations become more refined and cost-effective, the edible packaging market is expected to experience substantial growth.
Edible Packaging Market Overview & Scope:
|Market Size in 2022||USD 910.75 million|
|Market Size by 2030||USD 1397.72 million|
|CAGR||CAGR of 5.5 % from 2023-2030|
|Key Segments||By Raw Material (Polysaccharides, Protein Films, Lipid, Others)
By Source (Plant, Animal)
By Packaging Process (Antimicrobial, Nano-Technology, Micro-organisms, Electro Dynamic, Others)
By End Users (Food, Beverages, Pharmaceuticals)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands,Rest of Europe), Asia-Pacific (Japan, South Korea,China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)|
|20% free customization scope (equivalent to 50 analyst working hours)||If you need specific information as per your business requirement, which is not currently within the scope of the report, we will provide it to you as a part of customization.|
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Impact of Recession
The edible packaging market, like any other sector, is susceptible to the impacts of economic downturns. A recession may lead to short-term challenges, such as reduced demand and supply chain disruptions. However, companies that maintain a focus on innovation, sustainability, and consumer communication can weather the storm and emerge stronger in the post-recession landscape. By adapting strategies to the economic climate, the edible packaging industry can continue its growth trajectory and contribute to a more sustainable and environmentally conscious future.
Impact of Russia-Ukraine War
The Russia-Ukraine war has wide-ranging implications for various industries, and the edible packaging market is no exception. While the conflict brings disruptions and uncertainties, it also presents opportunities for innovation, research, and sustainable growth. As geopolitical situations evolve, businesses in the edible packaging sector will need to adapt to the changing landscape, explore alternative supply chains, and continue to advocate for environmentally friendly solutions amidst challenging times.
Key Regional Development
In North America, the edible packaging market has gained substantial traction due to the region’s robust emphasis on sustainable practices and waste reduction. Government initiatives, public awareness campaigns, and regulations targeting single-use plastics have further bolstered the adoption of edible packaging alternatives. Europe has been a frontrunner in sustainable packaging practices, and edible packaging is no exception. The European Union’s stringent regulations on plastic packaging waste have encouraged manufacturers to explore and invest in eco-friendly packaging solutions. The Asia-Pacific region, home to some of the world’s most populous countries, has been grappling with significant plastic pollution challenges.
Key Takeaway from Edible Packaging Market Study
- As the global drive towards sustainability intensifies, the market is witnessing a seismic shift towards polysaccharides and antimicrobial segments. These cutting-edge technologies offer a multitude of benefits, from reducing plastic waste and promoting circularity to ensuring food safety and extending shelf life.
- As research continues to advance and technologies improve, the polysaccharides segment and antimicrobial packaging will undoubtedly dominate the market, transforming the way we store, transport, and consume food.
Recent Developments Related to Edible Packaging Market
- In a groundbreaking leap towards sustainable packaging, Notpla, a London-based company, has successfully raised a staggering £10 million in funding for its innovative fully edible and biodegradable plastic alternative made from seaweed.
- In a groundbreaking initiative aimed at reducing plastic waste and promoting sustainable practices, Chinese scientists have successfully developed edible food packaging as an eco-friendly alternative to traditional plastic materials.
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Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 Impact of Russia- Ukraine War
4.2 Impact of Ongoing Recession
4.2.2 Impact on major economies
126.96.36.199 United Kingdom
188.8.131.52 South Korea
184.108.40.206 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Edible Packaging Market Segmentation, by Raw Material
8.2 Protein Films
9. Edible Packaging Market Segmentation, by Source
10. Edible Packaging Market Segmentation, by Packaging Process
10.4 Electro Dynamic
11. Edible Packaging Market Segmentation, by End User
12. Regional Analysis
12.2 North America
12.5 Middle East & Africa
12.6. Latin America
13 Company Profile
13.1 Glanbia plc
13.1.1 Market Overview
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Devro Plc
13.3 WIKICELL DESIGNS INC
13.4 Amtrex Nature Care Pvt Ltd
13.5 Mantrose UK Ltd
13.7 Notpla ltd
13.9 NAGASE & CO LTD
13.10 Skipping Rocks Labs
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. USE Cases and Best Practices
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