Edible Packaging Market Likely To Touch New Heights By End Of Forecast Period 2016 - 2024

 Edible packaging market is primarily food wrapped using food. It substitutes plastic or paper for packaging material and instead something edible is used. This way wastage of packaging material is also eliminated.

Main idea behind edible packaging is consumption of packaging material too, once the food inside is finished. The packaging method is likely to gain momentum in coming years.

For instance, in November 2018, researcher from University of Nottingham invented an edible and purely biodegradable food film. The film was developed using plant carbohydrates and proteins. It was derived using starch and konjac flour, proteins or cellulose. Besides biodegradable packaging, it also helps in improvement of safety, storage, and shelf life of food products.

Indeed it is a great concept, however, there are several challenges involved. The challenges may slow down growth of the global edible packaging market.

However, consistent development of new sources for edible packaging by products, advancement in packaging technologies, and initiatives undertaken by government bodies are, conjointly, contributing to growth of the global edible packaging market.

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Global Edible Packaging Market: Snapshot

The global market for edible packaging derive much of its growth from the increasing consumption of processed products, rising household income, and the increasing preference of consumers for hygienic and durable products. Apart from this, the fast-paced urbanization in emerging economies, together with the high growth of the population base is also strengthening the potentials of this market.

Over the forthcoming years, the increasing usage of edible packaging materials for the packaging of food products will boost this market substantially. The growing awareness about the attributes of edible packaging, such as the ease of handling while maintaining the quality and the shelf life of products, are also projected to drive the growth of this market in the near future. However, the high cost of the packaging machines and quality films used in edible packaging may limit its uptake to some extent in the years to come. The burgeoning adoption of modified atmosphere packaging may also prove to be a challenge for this market over the next few years.

The global edible packaging market was worth US$0.77 bn in 2016. Analysts expect this market to expand at a CAGR of 6.90% between 2016 and 2024, reaching a sum of US$1.3 bn by the end of 2024.

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Demand for Edible Packaging to Remain High from Food and Beverage Manufacturing

Food and beverage manufacturing and pharmaceuticals are the two main end users of edible packaging across the world. Among these, the food and beverage manufacturing segment has occupied the leading position in this market.

It dominated the market with a share of more than 77% in 2016 and is anticipated to continue its leading streak over the next few years. The demand edible packaging is stronger in fresh food packaging and the scenario is likely to remain in the near future.

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