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Redding, California - June 19, 2024

Edible Packaging Market to be Worth $1.98 Billion by 2031

Edible Packaging Market Size, Share, Forecast, & Trends Analysis by Source (Plant, Animal), Raw Material (Seaweed & Algae, Polysaccharides, Lipids), Packaging Process (Antimicrobial, Nanotechnology, Microbial), End Use - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Edible Packaging Market Size, Share, Forecast, & Trends Analysis by Source (Plant, Animal), Raw Material (Seaweed & Algae, Polysaccharides, Lipids), Packaging Process (Antimicrobial, Nanotechnology, Microbial), End Use—Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the edible packaging market is projected to reach $1.98 billion by 2031, at a CAGR of 7.3% during the forecast period 2024–2031. The growth of the edible packaging market is primarily driven by the rising need to reduce packaging waste, the growing consumption of processed foods, and the increasing demand for eco-friendly alternatives to traditional packaging materials. However, the high costs of edible packaging materials and stringent regulatory requirements restrain the growth of this market. Moreover, advancements in packaging technologies and innovations & new product development in the edible packaging industry are expected to generate significant growth opportunities for the stakeholders in this market. However, handling, taste, and texture issues are a challenge in the edible packaging market. Additionally, functional edible packaging and sustainable packaging are the latest trends in the edible packaging market.

Key Players

Some of the key players operating in the edible packaging market are Notpla Limited (U.K.), Xampla Limited (U.K.), JRF Technology, LLC (U.S.), MonoSol, LLC (U.S.), Evoware (Indonesia), Nagase America LLC (U.S.), Devro Limited (U.K.), TIPA Corp. Ltd. (Israel), Lactips (France), Mantrose-Haeuser Co., Inc. (U.S.), Do Eat (Belgium), Amtrex Nature Care Pvt. Ltd. (India), Glanbia plc (Ireland), and Pace International, LLC (U.S.).

The edible packaging market is segmented based on source (plant and animal), raw material (seaweed & algae, polysaccharides, lipids, and others), packaging process (antimicrobial, nanotechnology, electrohydrodynamic, coatings, and microbial), end use (food & beverages and pharmaceuticals), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on source, in 2024, the plant segment is expected to account for the larger share of 67.0% of the edible packaging market. The segment’s large share is mainly attributed to the rising concerns over single-use plastics, the growing adoption of veganism and vegetarianism, and governments’ & regulatory bodies’ implementation of strict regulations and policies to reduce plastic pollution and promote sustainable practices.

Moreover, the plant segment is also expected to register the highest growth rate during the forecast period 2024–2031. The growth of this segment is driven by the rising demand for plant-based foods owing to their health benefits, such as the reduced risk of chronic diseases, including heart disease, diabetes, and obesity. Also, growing concerns about the environmental impacts of animal agriculture, including greenhouse gas emissions, deforestation, and water usage, are encouraging consumers to choose plant-based alternatives.

Based on raw material, in 2024, the seaweed & algae segment is expected to account for the largest share of 44.3% of the edible packaging market. The large market share of this segment can be attributed to the advantages of seaweed & algae, including their abundance, renewable nature, and sustainability. In addition, seaweed & algae are rich sources of natural polysaccharides, such as carrageenan, agar, and alginate, which possess excellent gelling, film-forming, and barrier properties. These properties make them ideal for producing edible packaging materials.

However, the polysaccharides segment is projected to witness the highest growth rate during the forecast period 2024–2031. The growth of this segment is driven by the desirable properties of polysaccharides, such as biodegradability, cost-effectiveness, and non-toxicity.

Based on packaging process, in 2024, the antimicrobial segment is expected to account for the largest share of the edible packaging market. Antimicrobial packaging processes help inhibit the growth of harmful microorganisms, such as bacteria and fungi, thereby extending the shelf life of perishable foods and reducing the risk of foodborne illnesses. Thus, the increased focus on food safety drives the demand for antimicrobial packaging solutions in the edible packaging market.

Based on end use, in 2024, the food & beverages segment is expected to account for the larger share of 78.1% of the edible packaging market. Edible packaging is widely used to package various products in the food & beverages industries, including fresh food, functional foods, baby food, dairy products, and bakery & confectionery products. The rising demand for processed foods and consumers’ changing lifestyles support the segment's expansion. Also, the increasing use of edible packaging to enhance the presentation and visual appeal of food & beverage products supports the growth of this segment. Edible packaging can be used for decorative purposes, such as in the form of edible wrappers for chocolates or garnishes for cocktails, to make them visually appealing and unique.

However, the pharmaceuticals segment is projected to witness the higher growth rate during the forecast period 2024–2031. The growth of this segment is driven by the increasing emphasis on patient compliance and convenience. Edible packaging offers a user-friendly and easy-to-administer method for delivering medications, especially for individuals who may have difficulty swallowing pills or tablets. This innovative approach not only enhances the patient experience but also improves medication adherence, leading to better treatment outcomes. In addition, the increasing demand for capsules for packaging pharmaceutical and nutraceutical ingredients is driving the growth of this segment.

Based on geography, in 2024, North America is expected to account for the largest share of 42.5% of the edible packaging market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The edible packaging market in North America is estimated to reach $513.7 million in 2024. North America’s significant market share can be attributed to the region’s well-established food processing industry, the presence of several key players in the region’s edible packaging sector, increased R&D related to edible packaging, and government funding to develop eco-friendly packaging projects.

However, Asia-Pacific is slated to register the highest growth rate during the forecast period. The growth of this regional market is driven by consumers’ changing lifestyles, increasing disposable incomes, growing awareness about the benefits of edible packaging, and government efforts to ban single-use plastics in the region.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5933

Key Questions Answered in the Report:

Which are the high-growth market segments in terms of source, raw material, packaging process, end use, and geography?
What is the historical market size for edible packaging products across the globe?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, opportunities, challenges, and trends in the edible packaging market?
Who are the major players in the edible packaging market, and what are their market shares?
Who are the major players in various countries, and what are their market shares?
What is the competitive landscape like in the edible packaging market?
What are the growth strategies adopted by major players in the edible packaging market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the edible packaging market, and how do they compete with the other players?

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Redding, California - June 19, 2024

Edible Packaging Market to be Worth $1.98 Billion by 2031

Edible Packaging Market Size, Share, Forecast, & Trends Analysis by Source (Plant, Animal), Raw Material (Seaweed & Algae, Polysaccharides, Lipids), Packaging Process (Antimicrobial, Nanotechnology, Microbial), End Use - Global Forecast to 2031

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