Edible Packaging Market Overview
In 2021, the global Edible Packaging Market trends were expected to hold a market value of USD 783.32 million and is anticipated to acquire a market value of USD 2.14 billion by the end of the year 2030. Further, this market is estimated to register a CAGR of 6.79% in the review period of 2022 to 2030.
The demand for the Edible Packaging Market share is increasing due to the rising innovation in the field of edible packaging. Moreover, the growth performance of the market segments is projected to fuel global market growth in the forecast period. The global market is driven due to several important factors such as the richness, nutrients of the body, most used sources as raw materials, and do not require adding extra chemicals for production.
Additionally, the global market for Edible Packaging has lucrative opportunities for the key players due to the product lines, wrapping paper, and development of a replacement for plastic sachets, and inclusive of containers.
Market Segmentation
The Edible Packaging Market trends have been classified depending on various applications, packaging processes, and material types. On the basis of the application segment, the global market for edible packaging has been classified into the food and beverage industry, pharmaceuticals, and others. Based on the packaging process segment, the global market for edible packaging has been segregated into packaging process, nanotechnology, antimicrobial, coatings, microorganisms, and electrohydrodynamic.
In terms of the material type segment, the global Edible Packaging Market trends have been categorized into polysaccharides, lipid, protein films, and others. Out of all, the lipids segment is registered to account for the leading position in the global market for edible packaging. In general, the lipid includes the neutral lipids of glycerine that is widely used for packaging due to its function of protecting the food from getting contaminated, by water vapors, and acting as a barrier against oxygen. For instance, the protein films segment is further predicted to dominate the market between the research period of 2022 to 2030.
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Regional Analysis
Geographically, the global Edible Packaging Market trends has been segregated into different locations like North America, Asia Pacific, Europe, South America, and the rest of the world.
Of these, the North American market for edible packaging Value Chain Analysis is predicted to register the largest market size in the review period of 2022 to 2030. In this region, the presence of the greatest market player is fuelling market growth. Also, this region is taking initiatives to reduce packaging waste by bringing alternatives to the use of single-use plastics. The manufacturers of food and beverages in this region are widely adopting the solution of edible packaging to reduce wastage, which is boosting the growth of the global market for edible packaging. Moreover, the Asia Pacific market is expected to expand its market value by generating the highest CAGR.
Industry News
In January 2020, the market player Loliware, which is a New York-based company, began its production of seaweed-based edible straws and algae. For instance, In October 2020, Notpla — a London-based startup company, created an alternative to conventional plastic packaging, which is edible seaweed packaging.
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