EDIBLE PACKAGING MARKET ANALYSIS

Edible Packaging MarketSize and Trends

The global edible packaging market was valued at US$ 1,004.00 million in 2022 and is expected to exhibit a CAGR of 6.29% over the forecast period (2023-2030).

Figure 1. Global Edible Packaging Market Value Share (%), By Region, 2022

North America dominated the global edible packaging market in 2022, accounting for 35.7% share in terms of revenue, followed by Europe and Asia Pacific. Middle East and Africa were accounted for the least market share in the year 2022.

Market Trends

Growing preference for reducing wastage of products is one of the growing trends in the market. Edible packaging reduces waste on landfills and increases the shelf-life of the products. Moreover, growing environmental concerns around the globe and the need for a sustainable environment are projected to foster the edible packaging market growth. Continuous product innovation by the edible packaging manufacturer in a sustainable packaging solution, is one of the emerging trends in the market, which is expected to foster the market growth. For instance, in November 2020, researchers of the University of Nottingham developed 100% biodegradable and edible food packaging, made from plant carbohydrates and proteins to replace polluting plastic materials and improve storage, safety, and shelf life of food/product. This move is in response to the growing need for environmental sustainability.

Figure 2. Global Edible Packaging Market Value Share, By Material Type, 2022

Edible Packaging Market, Segment Analysis by Material Type:

Based on material type, the market is segmented into Polysaccharides, Lipid, Surfactant, Protein Films, and Composite Films. The Protein Films segment accounted for the largest market share in the global edible packaging market and accounted for 31.8% share in 2022.

Increasing health awareness among millennial population is expected to drive the market demand for this segment as they are more aware about the hygienic foods and packaged products