Dublin, Sept. 10, 2024 (GLOBE NEWSWIRE) -- The "Edible Packaging Market Report by Material Type, Source, End User, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global edible packaging market size reached US$ 963.8 Million in 2023. Looking forward, the publisher expects the market to reach US$ 1.56 billion by 2032, exhibiting a CAGR of 5.54% during 2023-2032. The growing global concern about environmental issues, increasing awareness among individuals about the benefits offered by edible packaging over traditional packaging, and rising collaboration between edible packaging manufacturers and culinary experts are some of the major factors propelling the market. 
Edible packaging companies are investing heavily in R&D to develop new materials, formulations, and technologies. They focus on improving the taste, texture, and functional properties of edible packaging while ensuring safety and compliance with regulatory standards. Additionally, they are providing customization options for edible packaging, allowing brands to print logos, messages, or branding directly onto the packaging.
Apart from this, many companies are collaborating with food manufacturers, restaurants, and beverage companies to integrate their products into existing packaging processes. These partnerships promote the adoption of edible packaging across different sectors. Furthermore, they are actively engaged in educational campaigns to inform people and businesses about the benefits of edible packaging.
Edible packaging, also known as food-grade packaging, is usually made from natural ingredients like starches, proteins, or plant-based materials. It has moisture-resistant properties to protect the food from moisture and extend its shelf life. It reduces plastic waste and contributes to a more sustainable packaging solution. It is widely used in individual servings of snacks like chips and candies and can be applied to encapsulate liquid products, such as juice or alcohol.
The expansion of hotels, restaurants, fast-food chains and the rise of takeout and food delivery services is catalyzing the demand for edible packaging solutions. Apart from this, the increasing use of edible packaging in catering services for sustainability-focused events, reducing waste and showcasing their commitment to eco-friendly practices is strengthening the growth of the market.
Furthermore, collaboration between edible packaging manufacturers and culinary experts is promoting innovation in the development of creative and gourmet edible packaging solutions. Moreover, leading industry players and research institutions are investing in research and development (R&D) activities to improve the taste, texture, and functional properties of edible packaging.
Edible Packaging Market Trends/Drivers:
Rising environmental concerns
The growing global concern about environmental issues and the rising need for sustainable packaging solutions represent one of the key factors positively influencing the market. Additionally, the increasing awareness among individuals about the benefits offered by edible packaging over traditional packaging solutions is offering a favorable market outlook.
Edible packaging materials are made from natural ingredients and are biodegradable and compostable, which generates less harmful emissions, plastic waste, and promotes circular economies. Apart from this, the widespread adoption of edible packaging to attract environmentally conscious consumers and promote environmental health is strengthening the growth of the market. Furthermore, governments of various countries are undertaking initiatives to promote the use of biodegradable packaging materials.
Technological advancements
Continuous progress in food technology and material science is enabling the development of edible packaging materials with enhanced properties and versatility and expanding their applicability across various industries. Additionally, the introduction of edible packaging materials with improved barrier properties, moisture resistance, and shelf stability is creating a positive outlook for the market.
Apart from this, innovation in edible packaging technology is allowing customization in terms of color, flavor, and design and offering lucrative opportunities to brands for creating unique and durable packaging solutions. Furthermore, collaborations between food companies, material scientists, and packaging manufacturers are favoring the market growth. These partnerships facilitate the development of cutting-edge solutions and drive adoption across various sectors, including food and pharmaceuticals.
Convenience and functional benefits
The convenience and functional benefits offered by edible packaging are driving its adoption in various industries. It eliminates the need for separate utensils and tools to access the enclosed product and allows people to simply consume the packaging along with contents, which makes it ideal for on-the-go consumption. Additionally, packing food products in edible materials minimizes the risk of spills, contamination, and damage during transport and storage. This results in fewer instances of food spoilage and waste, contributing to cost savings for consumers and businesses. Moreover, rapid urbanization and the busy lifestyles of individuals are offering a favorable market outlook.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 147 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $963.8 Million |
| Forecasted Market Value (USD) by 2032 | $1560 Million |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
Key Players
- Devro plc
- Glanbia plc
- Ingredion Incorporated
- JRF Technology LLC
- MonoSol LLC (Kuraray Co. Ltd.)
- Nagase & Co. Ltd.
- Notpla Limited
- Safetraces Inc.
- Tate & Lyle Plc
- TIPA Corp Ltd.
Edible Packaging Industry Segmentation:
Breakup by Material Type:
- Lipids
- Polysaccharides
- Proteins
- Surfactants
- Others
Breakup by Source:
- Plant
- Animal
Breakup by End User:
- Food and Beverages
- Pharmaceuticals
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/xaz2e3
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