by The edible packaging market involves the production and use of edible materials for food packaging. These edible materials come in the form of films or coatings made from seaweed, chitosan, and starches that can safely wrap or encase food products. Edible films and coatings provide a barrier to oxygen and moisture while extending the shelf life of foods. They serve as an alternative to traditional petrochemical-based plastics that end up in landfills and oceans.
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 from 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 growing demand for sustainable packaging solutions from the food and beverage industry is driving the Edible Packaging Market Size. Consumers are increasingly concerned about the environmental impact of conventional plastic packaging, creating opportunities for biodegradable edible films and coatings. Several companies in the food sector have started adopting edible wrappers and wraps made from natural polymers and lipids to package products such as snacks, nuts, and confectionaries.
The market is also witnessing increased global expansion as major edible packaging producers expand their geographical footprint. For instance, Tianshui Huatian Technology Co. recently set up a new production plant in North America to meet the growing needs of customers in the region. Several private equity investments and mergers and acquisitions have also accelerated the widespread availability of edible coatings and films across global markets.
Market key trends
One of the major trends in the Edible Packaging Market is the development of packaging solutions from novel raw materials. Research is ongoing to create edible films with barrier properties, flexibility, and strength from biopolymers obtained from agricultural waste such as sugarcane bagasse, rice straw, and orange peel pectin. Developing robust edible coatings and wrappers from these readily available, renewable resources can make packaging cheaper and more sustainable. There is also work on infusing edible films with additives like antimicrobials, anthocyanins, and nutraceuticals to enhance food safety and shelf lifeextension. These innovations will further propel the edible packaging industry in coming years.
Porter’s Analysis
Threat of new entrants: The edible packaging market has moderate threat of new entrants due to high capital required for R&D of new edible materials and manufacturing facilities.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes however quality standards and regulations provide less bargaining power.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute raw materials however suppliers of specialized ingredients and chemicals have some bargaining power.
Threat of new substitutes: Threat of new substitutes is low to medium as traditional plastic packaging is still dominant however bioplastics are emerging as substitutes.
Competitive rivalry: The edible packaging market has high competitive rivalry due to presence of major players and differentiation is difficult.
Geographical Regions
North America accounts for the largest share of around 30% of the global edible packaging market in terms of value due to strict regulations on plastics and early adoption of sustainability.
Asia Pacific region is expected to be the fastest growing region during the forecast period due to rapidly growing food packaging industry in countries like China and India along with supportive government policies for use of biobased and biodegradable materials for food packaging.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
