The growth will mainly come from food & beverage sector, and pharmaceutical sector. Opportunities created by legislations like marijuana legalization, and acceptance of therapeutics for chronic illnesses like cancer will be main drivers to growth
The food segment accounted for 77% of total share in the edible packaging market in 2016. The segment will likely lead growth of the market over the forecast period
ALBANY, New York, Feb. 26, 2020 /PRNewswire/ — Major opportunities for players in the edible packaging market lie in fresh food packaging. It is largely driven by rising awareness about healthy lifestyle, and the trend will likely continue in the same trajectory over the foreseeable future beyond the forecast period. North America will also likely retain its dominant position in total revenue share during the forecast period. The region accounted for 36% total market share in 2016. Recent legalization of marijuana, several new product launches, and growing demand for healthy lifestyle will drive growth in the North America region.
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According to TMR analysts, the growing awareness about various feature of edible packaging, their ease of handling, and essential need of many edible food products to have a longer shelf life will create new opportunities for growth. According to TMR analysts, the high costs of packaging remains a major concern for end-players. Additionally, the atmospheric packaging remains a bright horizon of opportunities for players in the edible packaging market.
Key Findings in the Edible Packaging Market Study
- Biodegradable packaging is emerging as an attractive alternative to conventional packaging in the edible packaging market. The packaging remains attractive from environmental sustainability, and safer options for packaging children’s food products. The trend has quickly gained prominence over the last few years, with increased demand for healthy, and natural varieties of food. Varieties of mushrooms, candies and sweets for children, and growing demand for biodegradable packaging by retail outlets will drive more growth for the edible packaging market.
- Asia Pacific will likely emerge as a key opportunity for growth during the forecast period. The region is witnessing a considerable rise in disposable income. Additionally, the region is also home to several countries like China, Vietnam, and Japan, wherein popular food products like mushrooms have been popular traditionally. The growing demand for ready-made food varieties of these, especially in urban areas remains a key opportunity.
- Packaging mimicking natural foods is also a popular trend in the edible packaging market. For example, recently Wikifoods launched its line of fruit casings, which appear similar to the skin of fruits. The packaging is a novel technique for packaging edible foods, which can help allay concerns of safety, and provide a new way to engage consumers in the edible packaging market.
- High consumption of processed foods, rising awareness about hygiene, and growing use of synthetic polymers remains integral to drive growth in the edible packaging market.
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Major Challenges in the Edible Packaging Market
Limited legalization of edible products like cannabis and high costs of packaging due to high-quality remains a concern in the edible packaging market. Products like Cannabis have been recently legalized in some states in United States. However, the legalization still remains a far prospect in regions like Europe, and Asia Pacific. The growing demand for legalization in the European region, and legalization in places like Amsterdam can pave way for road forward to new opportunities for growth.
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Edible Packaging Market: Region-wise Analysis
The global edible packaging market report will cover all regions including North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Among these, the North America will likely accelerate growth significantly over the forecast period, thanks to rising demand for food products, and other important edible packaging products like surfactants, composite films, among others. The growth in Asia Pacific will also be notable, thanks to growing awareness about edible packaging among consumers.
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Global Edible Packaging Market: Competitive Landscape
The global edible packaging market remains a fragmented, and competitive landscape. Relatively low costs of entering the market, and opportunities for innovation keep the market competitive, with low bars of entry. Some key players in the market like JRF Technology LLC, MonoSol, WikiCell Designs Inc, and Tate and Lyle Plc remain engaged in global partnerships to drive growth. The opportunities for global expansion in new regions, and several new product launches remains the highlight of competitiveness in the edible packaging market.
Analyze Edible Packaging market growth in 30+ countries including US, Canada, Germany, United Kingdom, GCC countries, India, China, and Japan. Request a sample of the study.
The edible packaging market is segmented as follows;
By Material Type
- Polysaccharides
- Lipid
- Surfactant
- Protein Films
- Composite Films
By End User
- F&B Manufacturing
- Fresh Food
- Cakes & Confectionery
- Baby Food
- Dairy Products
- Other Food Products
- Pharmaceuticals
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
Explore Transparency Market Research’s award-winning coverage of the Global Packaging Industry:
Edible Wraps Market – Developed with materials that are decomposable as well as microwave-friendly in nature, the demand for edible wraps is mounting high as more and more processed food brand owners are getting acquainted with the benefits of these wraps.
Baby Food Packaging Market – The increasing demand for stand-up pouches and thin wall containers owing to their hygienic, lightweight, safe, reusable, and easy to carry nature are some of the primary factors driving the global baby food packaging market.
Pet Food Packaging Market – The plastics segment represented 40.8% of the global pet food packaging market in 2017 and was valued at US$3,391.8 mn. The segment is likely to exhibit a strong 6.3% CAGR over the 2017-2022 forecast period to emerge with a market share of 43% by 2022.
Self-heating Food Packaging Market – Significant development in packaging technologies and growing adoption of intelligent packaging devices, including time-temperature indicators, sensors, self-cooling, and self-heating containers wherein electronic displays are embedded, are likely to boost the growth of the self-heating food packaging market during the forecast period.
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