(MENAFN- GetNews) According to a recent report published by Grand View Research Inc., the trend for green food packaging is in the rise as there is an increasing awareness regarding the adverse effect of rampant plastic usage. Most pressing environmental concerns with the overwhelming amount of disposable plastics are fueling the market expansion
The global edible packaging market size is expected to reach USD 456.6 billion by 2027, registering a CAGR of 5.2%, as per a new report by Grand View Research, Inc. The market is prominently driven by the growing demand for convenience food products due to alternative eating habits and changes in lifestyle expected to bolster the market growth.
The industry exhibits rapid expansion for portable food packs and single-serve. Increasing disposable income of buyers due to rising per capita income is anticipated to boost the growth. The urban population has an inclination towards the consumption of ready-to-eat meals. This will create growth opportunities for edible food packaging. In addition, concerns regarding food contamination are predicted to bolster the adoption of effective packaging solutions.
Product innovation to ensure environment-friendly packaging is a prominent trend attributable to the industry expansion. Emergence of technologies including active packaging, Modified Atmosphere Packaging (MAP), and printing technologies have drawn attention of the key players. Introduction of sustainable packaging materials by key manufacturers and increasing packaged food consumption by buyers will provide an impetus to the market in the coming years.
Edible Packaging Market Highlights
The exploration of nano technology and microbiology has opened up the understanding of its application in improving the shelf-life and quality of food. The focus on 'green synthesis has tailored the development of edible nanocoatings that can inhibit biofilm formation, maintain flavor, and selectively bind to eliminate pathogens
Companies are determined to address the problem of excessive plastic contamination by developing edible tableware, wrappers, and more. The Ooho water bottle is incredibly famous which is made from fast-growing and renewable seaweed. Amid the Covid-19 pandemic, the Ooho water bottles were sold in thin plastic bags to refrain from contamination. These are easy to carry and need not be sold in hard plastic bottles
Scientists from India's National Institute of Ocean Technology (NIOT) has developed a variant of bio-plastic using PEG-3000 and marine seaweed. In a densely populated country like India, the bio-plastic is expected to be a game-changer in the plastic industry
Flexible packaging is projected to exhibit the highest CAGR of 6.0% in terms of revenue during the forecast period, owing to its high performance, cost-effectiveness, and constant innovations made by major manufacturers
The market in Asia Pacific accounted for an overall revenue of USD 112.2 billion in 2019. The region is likely to witness a major boom in near future due to increasing urbanization, growing population, and rising disposable income of customers
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Edible Packaging Market Segmentation
Grand View Research has segmented the global food packaging market on the basis of type, material, application, and region:
Food Packaging Type Outlook (Revenue, USD Billion, 2016 - 2027)
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Rigid
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Semi-rigid
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Flexible
Food Packaging Material Outlook (Revenue, USD Billion, 2016 - 2027)
Food Packaging Application Outlook (Revenue, USD Billion, 2016 - 2027)
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Bakery & Confectionary
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Dairy Products
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Fruits & Vegetables
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Meat, Poultry, & Seafood
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Sauces & Dressings
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Others
Food Packaging Regional Outlook (Revenue, USD Billion, 2016 - 2027)
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North America
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Europe
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Germany
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France
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U.K.
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Italy
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Asia Pacific
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China
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Japan
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India
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Australia
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Central & South America
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Middle East & Africa
List of Key Players of Edible Packaging Market
WikiCell Designs, Inc.
MonoSol, LLC
Tate and Lyle Plc
JRF Technology LLC
SAFETRACES, Inc.
Devro; Evoware
Ingredion, Inc.
NAGASE & CO., LTD.
Bluwrap.
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About Grand View Research
Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.
Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.
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