NEWARK, Del, Dec. 15, 2022 (GLOBE NEWSWIRE) -- The edible packaging market is expected to skyrocket, with projections estimating a four-fold increase over the next ten years - from US$1.10 Bn in 2023 up to an incredible US$4.18Bn by 2033.The edible packaging market is primed to skyrocket in the next decade, predicted to grow by an impressive 14.31% CAGR between 2023 and 2033. Edible packaging is rapidly becoming more accepted as an eco-friendly and efficient alternative to traditional methods.
Consumers are now presented with a vast array of possibilities that can improve product stability, quality, safety and diversity in addition to making life easier for customers who benefit from the convenience it brings. Appetite for eco-friendly packaging is prompting an innovation revolution in food storage. Edible wrapping could be the future of convenience as it keeps snacks looking, tasting and feeling fresh - a tantalizing sell that's set to accelerate market growth.
Policy makers are getting behind this movement too; their support helping fuel advancements in innovative biodegradable packing technologies. Get a Sample PDF of the Report URL URL The market for edible packaging is anticipated to increase in response to rising consumer demand for ecologically friendly packaging materials. The extensive usage of single-use plastic and varied restrictions on it are raising environmental concerns.
As a substitute for single-use plastic, edible packaging options have gained acceptance among several manufacturers and consumer organizations. In 2021, North America held the largest market share for edible packaging. The region's efforts to move away from single-use plastics and use edible packaging alternatives to minimize packaging waste, the rising demand for packaged foods, and the presence of major industry players are just a few of the reasons why the region will maintain its market dominance share throughout the forecast period. Key Takeaways: The North American edible packaging market is estimated to expand at a CAGR of 5.7%. Asia Pacific edible packaging market is projected to develop at a CAGR of 8% over the forecast period.The European edible packaging market held 29% of the global market share in 2021.The protein material segment dominated the market in 2021 with 48.9% of the global revenue share Competitive LandscapeIn the water heater market, key players and innovative vendors include JRF Technology, Pace International, BASF SE, WikiCell Designs Inc., Tate & Lyle Plc., Safetraces, Inc., Tipa Corp, MonoSol, LLC, Watson, Inc., Interpack, Coveris Holdings, Devro plc, Dupont de Nemours and Company, Ingredion Inc, Nagase & Co.
Ltd. and others. To increase their market share in edible packaging, these businesses have employed several strategies.
They have employed both organic and inorganic development strategies, such as new product releases, acquisitions, corporate expansions, and partnerships, to extend their clientele and boost revenue. Recent Developments In February 2021, an edible film strip featuring BerryShield Elderberry from INS Farms, a grower, producer, and supplier of black elderberries in North America, was introduced by JRF Technology LLC, a maker of the water-soluble and edible film (Sambucus nigra). To transform soluble polymers into simple-to-use value-added consumer products, JRF Technology offers product formulation and research & development services.In September 2021, Pace International LLC introduced PrimaFresh(r) 60 Organic, a leading supplier of postharvest solutions and technology for the fresh produce sector (OR).
To better control the dehydration in stone fruit and enhance its fresh appeal, Pace developed PrimaFresh 60 OR, a premium range of organic edible plant-based coatings..
Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4.
Technology Roadmap Analysis 1.5. Analysis and Recommendations2. Market Overview 2.1.
Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations3. Market Background 3.1.
Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3.
Opportunity 3.1.4. Trends 3.2..
Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3.
Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.2.
Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer's TOC to be Continued..
View Full Report URL URL Explore Trending Reports of Packaging Domain: Corrugated Box Market : The corrugated box market is anticipated to have an effective CAGR of 5.0% during the period of 2022-2032. The corrugated box market is expected to expand from US$ 134.7 Billion in 2022 to US$ 219.4 Billion in 2032. Previously, the market grew at a faster rate of 2.5% from 2015 to 2021, culminating in a market of US$ 128.1 Billion in 2021.
Intermediate Bulk Container (IBC) Market : Research conducted by Future Market Insights (FMI) shows that the intermediate bulk container market is expected to register positive growth, with the overall valuation forecast to reach US$ 21 Bn in 2021. Sales registered in the market is expected to rise at 6.8% CAGR between 2021 and 2031. Elastic Laminates Market : The global elastic laminates market is slated to grow on a remarkable note between 2022 and 2028 at a CAGR of 5.4%, reaching US$ 8.4 Bn by the year 2028.
Flexible Plastic Packaging Market : The global sales of flexible plastic packaging are expected to exhibit 4.9% year-on-year growth rate in 2021 with sales reaching over 33.6 million tons. Future Market Insights projects flexible plastic packaging market to grow at 5% CAGR between 2021 and 2031 as consumer preference is shifting from traditional packaging products to stand-up pouches and re-closable packaging Collapsible Rigid Containers Market : he global collapsible rigid containers market is set to enjoy a market valuation of US$ 1.6 Bn in 2022, and further grow at a CAGR of 4.9% between 2022 and 2032, reaching around US$ 2.6 Bn by 2032. Rising usage across industries such as automotive, food & beverage, pharmaceuticals, and shipping & logistics is pushing demand in collapsible rigid containers market.
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