by The edible packaging market is a rapidly emerging segment that helps reduce the usage of single-use plastics. Edible packaging is produced from renewable plant-based sources like seaweed, algae, fungi and plant leaves. It is biodegradable and non-toxic in nature. Edible packaging finds wide usage in food & beverage, pharmaceutical and other industries to package products like candies, chewing gums, snacks, pills and more.
The Global edible packaging market is estimated to be valued at US$ 90.06 Bn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the edible packaging market are Tianshui Huatian Technology Co Ltd, Hana Micron Inc., lingsen precision industries Ltd, Formosa Advanced Technologies Co. Ltd (FATC), Advanced Semiconductor Engineering Inc. (ASE Inc.), Amkor Technology Inc., Jiangsu Changjiang Electronics Technology Co. Ltd, Powertech Technology, King Yuan Electronics Corp. Ltd, ChipMOS Technologies Inc., TongFu Microelectronics Co., and Signetics Corporation.
The key opportunities in the Edible Packaging Market Size include growing demand for sustainable packaging from environmentally conscious consumers and favorable government regulations regarding single-use plastics. Technological advancements are leading to development of new edible films and coatings with improved barrier and mechanical properties.
Market drivers
The major market driver is the rising awareness about reducing plastic waste and demand for eco-friendly alternatives. Edible packaging completely breaks down in the environment without harming it. Growing importance of sustainable development goals is also propelling the edible packaging market growth. stringent regulations banning single-use plastics provide a conducive environment for adoption of edible packaging solutions.
Current challenges in Edible Packaging Market:
Edible Packaging Market is still at a nascent stage and is facing several challenges that need to be addressed for widespread commercialization and consumer acceptance. Firstly, the costs associated with edible packaging production are significantly higher compared to conventional plastic packaging. Standardization of production processes and identifying low-cost raw materials can help reduce production costs. Secondly, ensuring uniform mechanical and barrier properties across batches is difficult given the variability in component materials. Researchers are working on developing edible materials with consistent properties. Thirdly, educating consumers about the benefits of edible packaging versus the perceived unfamiliarty is important to drive adoption. Consumer research and marketing initiatives can help address consumer reluctance.
SWOT Analysis
Strength: Edible films offer innovative sustainability benefits over conventional plastics by being biodegradable and reducing waste. They can act as carriers for active compounds and extend shelf-life of perishable foods.
Weakness: Higher costs and lack of infrastructure for large-scale production limit commercial opportunities currently. Producing films with uniform mechanical and barrier properties across batches is challenging.
Opportunity: Growing awareness about environmental impact of plastics and demand for eco-friendly solutions offer scope to scale-up. Partnerships along the value chain can help optimize production processes and costs.
Threats: Stringent regulatory standards and safety certification requirements increase barriers. Competing technologies like bioplastics can capture market share if scaled up faster.
Geographical regions of concentration:
North America currently accounts for the largest share of the global edible packaging market, both in terms of value and volume. This is attributed to higher consumer awareness about sustainability and eco-friendly solutions in the region.
Fastest growing region:
Asia Pacific region is expected to be the fastest growing market for edible packaging during the forecast period. This is due to large population, rapid economic growth, and increasing consumer food packaging demand in densely populated countries like China and India coupled with policy push for sustainable alternatives.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
