The global edible packaging market Growth Accelerated by Sustainability concerns

-

Edible packaging made from materials that are safe, non-toxic and eco-friendly and provide protection from damage and contamination during transportation and storage of food products. Edible packaging is manufactured using materials that add nutritional value and increase shelf life of food items. These materials include seaweed, algae, chitosan, and others.

The global edible packaging market is estimated to be valued at US$ 1067.15 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Sustainability concerns regarding usage of conventional plastic packaging materials is expected to drive the growth of global edible packaging market during the forecast period. Growing awareness about environmental hazards of petroleum-based plastic disposal and stringent government regulations to curb plastic pollution has compelled packaging manufacturers to adopt eco-friendly solutions. Edible packaging offers a sustainable solution as it eliminates the need for disposal and can be safely consumed along with the product. Manufacturers are investing in research & development of newer edible polymers and films from biodegradable sources such as wheat, tapioca, vegetables and fruits to expand application in food packaging industry.

Segment Analysis

The global edible packaging market size is segmented by packaging type into seaweed-based, edible film & coatings, and others. The seaweed-based segment dominates the market and is expected to witness high growth during the forecast period. Seaweed-based edible packaging offers various benefits like biodegradability, sustainability and printability that makes it a preferred choice for packaging of food products like confectioneries and bakeries.

Key Takeaways

The global edible packaging market is expected to witness high growth during the forecast period of 2023 to 2030. The market size was valued at US$ 1067.15 Mn in 2023.

Regional analysis:
Asia Pacific region holds a dominant share in the global edible packaging market currently. The high growth in the region can be attributed to the presence of major seaweed cultivation industries in countries like China and Indonesia. The region is also expected to grow at the fastest rate during the forecast period driven by increasing demand from food industries in emerging nations of the region.

Key players:
Key players operating in the edible packaging market are MonoSol, Kuraray Co. Ltd., JRF Technology, WikiFoods Inc., Safetraces Inc., and Tate and Lyle Plc. New Zealand Manuka Group, Hispanagar, Acroyali Holdings Qingdao Co., Ltd., Industrias Roko, S.A., Neogen, Merck Group, Agarindo Bogatama, Setexam, and Norevo GmbH. MonoSol and Kuraray are the market leaders and have strong global presence across various regions.

Comments

Post a Comment

Popular posts from this blog

The global Ion Exchange Membrane Market Growth Accelerated by Increasing Industrialization and Urbanization

-
Image
Ion exchange membranes are selectively permeable membranes that transport ions from one solution to another by ion exchange. They are used in various applications such as water purification, wastewater treatment, chlor-alkali industry, and fuel cells. The increasing industrialization and urbanization is creating a huge demand for water and power. Ion exchange membranes help provide clean water and green energy production through desalination and fuel cells. The global Ion Exchange Membrane Market is estimated to be valued at US$ 908.33 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increasing industrialization and urbanization is one of the key trends driving the growth of the ion exchange membrane market. As industries expand production and urban populations increase globally, the demand for drinking water and power rises substantially. Ion exc
Read more

Healthcare IT (HCIT) is fastest growing segment fueling the growth of Drug for Abuse Testing Devices Market

-
Image
The global Drug For Abuse Testing Devices Market is estimated to be valued at US$ 1.65 Bn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Drug for abuse testing devices help identify the presence of drugs or metabolites in the body by analyzing samples such as urine, blood, hair, oral fluid etc. These products play an important role in drug screening programs by ensuring job security, public safety and health. Market key trends: The adoption of healthcare IT solutions is one of the key trends witnessed in the drug for abuse testing devices market. Integration of IT with diagnostic products helps generate faster and accurate test results while streamlining workflow. IT solutions also enable efficient data management and sharing of reports between labs and law enforcement agencies. This significantly improves monitoring and prevention of drug abuse in the s
Read more

Electric Powertrain Market Growth Accelerated by Adoption of Stringent Emission Regulations

-
Image
The electric powertrain incorporates electric motor, power electronics, and transmission and helps convert energy from external power supply into mechanical energy in electric vehicles. Growing demand for zero-emission and fuel-efficient vehicles coupled with stringent emission regulations imposed by regulatory bodies globally are anticipated to drive the demand for electric powertrains. Additionally, development of high-performance lithium-ion batteries with high energy density at affordable costs has facilitated automakers to adopt electric powertrains in their vehicles. The global Electric Powertrain Market is estimated to be valued at US$ 81.7 Bn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: Adoption of stringent emission regulations imposed by governmental organizations across the globe to curb carbon emissions is a key trend fueling the growth of
Read more