New York (US), July 04, 2023 (GLOBE NEWSWIRE) -- Edible Films and Coatings Market Overview
The research documents by MRFR indicate that the “Edible Films and Coatings Market Research Report Information by Region, Application, and Ingredient Type - Forecast Till 2032”, the Edible Films and Coatings market is predicted to grow substantially over the assessment timeframe from 2022 to 2032 at a healthy CAGR of around 8.50%. The reports even share predictions regarding the market's growing revenue share, which will likely reach USD 4.4 Billion by the end of 2032. As per the reports, the market was worth nearly USD 2.1 Billion in 2022.
Due to the growing demand for practical and environmentally friendly food packaging solutions, the edible films and coatings industry is expanding steadily. These natural-ingredient based films and coatings lengthen food shelf life, stop moisture evaporation, and enhance product appeal.
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Competitive Analysis
The catalog of the top leaders across the global Market for Edible Films and Coatings includes players such as:
- Bayer AG
- Sumitomo Chemical Co., Ltd.
- C. Starck GmbH
- Heliatek GmbH
- AGC SEIMI CHEMICAL CO., LTD.
- Novaled GmbH
- BASF SE
- AU Optronics Corp.
- DuPont
- Graphic Packaging International, LLC
- Merck & Co., Inc.
- WestRock Company
- Evonik Industries AG
- Smurfit Kappa
- Berry Global Inc
- Parker Hannifin Corp
- Krones AG
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size 2032 | USD 4.4 Billion |
| Compound Annual Growth Rate (CAGR) | 8.50 % (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Dynamics | Consumers’ increased adaptability to eco-friendly packaging solutions and rising adoption of sustainable packaging to reduce carbon footprints |
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Market USP Covered
Market Drivers
The global Edible Films and Coatings industry has advanced enormously in recent years. The primary aspect causing a surge in market performance is the consumers' increased adaptability to eco-friendly packaging solutions. Furthermore, factors such as consumer demand for plant-based foods, extensive R&D investments, and Interest in ecologically friendly solutions are also projected to impact the market's growth over the coming years positively.
Market Restraints
However, some aspects may limit the market's performance. The main aspect limiting the market's development is the high costs linked.
COVID-19 Impact
The global health hazard of COVID-19 has impacted most industry operations in the last few years. The health emergency affected the industry operations and tremendously impacted public health in nearly 225 nations. The Edible Films and Coatings industry was no exception to this. The supply chain disruptions and partial or complete lockdowns around various regions worldwide led to several disruptions in market operations. However, with the rapid recovery of the global economy, the market is predicted to showcase substantial development over the review era. In addition, several governmental organizations and key market players are collaborating and, therefore, introducing solutions like innovations and research and development processes through excellent funding that will positively impact the global Edible Films and Coatings market over the review timeframe.
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Segment Analysis
Among all the ingredient types, the polysaccharides segment secured the leading position across the global market for edible films and coatings in 2022. materials such as gums, starch, carboxymethyl cellulose, cellulose, carrageenan, etc. are employed to produce edible films and coatings. The moisture barrier properties of polysaccharide-based films and coatings are poor, though O2 and CO2 permeability is moderately less.
Among all the application areas, the fruits and vegetables segment secured the leading position across the global market for edible films and coatings in 2022. The edible coating is highly utilized for fruits and vegetables since it helps to maintain the textural qualities, lessen oxidative reactions on fruits and vegetables, increase glossiness and shine on fruits & vegetables, and mass transfer in fruits & vegetables.
Regional Analysis
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World.
The research documents by MRFR indicate that The North American Region secured the leading position across the global Edible Films and Coatings industry in 2022 with the largest contribution of nearly 45.80%. The region has Mexico, Canada, and the U.S. as the leading development contributors. Further, the U.S. Edible Films and Coatings Market held the largest market share, and Canada was the fastest-growing North American Region. The main aspect supporting regional market expansion is the presence of international competitors across the region. Furthermore, the factors such as consumers' willingness to pay for goods and the existence of the accessibility of edible films & coating materials are also projected to have a positive impact on the growth of the regional market over eth coming years.
The European Region anticipates ensuring the second spot across the global Edible Films and Coatings industry over the coming years. The region has France, Germany, and the U.K. as the leading development contributors. Further, the German Edible Films and Coatings Market held the largest market share, and the U.K. was the fastest-growing Market in Europe. The region's main aspect supporting regional market expansion is switching from single-use plastics to edible options to lower plastic waste. To lower waste and offer their customers nutritional benefits, several local food and beverage producers and the foodservice establishments are deploying edible packaging designs into their operations, which in turn is projected to boost-up the growth of the regional market over the assessment era.
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The Asia-pacific Region is anticipated to grow at the highest pace across the global Edible Films and Coatings industry over the coming years. The regional market is projected to showcase the maximum growth rate over the assessment era. India, China, and Indonesia are the leading development contributors in the region. Further, the China Edible Films and Coatings Market held the largest market share, and India was the fastest-growing market in the Asia-pacific Region. The main aspect supporting regional market expansion is the presence of international competitors across the region. Furthermore, the growing environmental concerns coupled with the accessibility of products are also considered one of the vital parameters influencing the growth of the regional market.
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