Bizizz Market Research has recently published a research report, “Edible Packaging Market By Source Type (Plant and Animal), Payload (Up to 25 Kg, Up to 150 Kg, Up to 600 Kg, Above 600 Kg), Materials (Seaweeds and algae, Lipids, Polysaccharides and Others (Carbohydrates, Composites, and Surfactant)), Packaging process (Antimicrobial, Microorganisms, Nanotechnology, Electrohydrodynamic and Coatings)), Enduser (Food & Beverages and Pharmaceutical) Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Edible Packaging Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 712.14 Mn by 2027, witnessing a CAGR of 5.2 % during the forecast period. Key drivers of the market are advancement in the technologies and several government initiatives are contributing to the market growth.
Globally the market of edible packaging is growing by the contribution of the innovative packaging production. The government initiatives are also one of the contributing factors for the development of Edible Packaging Market. Increase in the consumption of packaged food in the global market are substantially supporting the demand rise of Edible Packaging products. The key consumers of the packaged good includes the younger generation population that are stimulating the demand for edible packaging market. Moreover the shift in the lifestyle of the customers globally has surged the demand of edible packaging market.
The Edible Packaging market is anticipated to register a CAGR of over 5.2% during the forecast period.
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By End-user, Food & Beverages and Pharmaceutical segment held a prominent share in Global Edible Packaging Market in 2018.
The growth could be attributed to the increasing usage of food & beverages and pharmaceutical that needs to be packaged for maintaining their shelf life and decrease edible product decomposition. Lifestyle changes of the customers is also encouraging the demand of packaged food and beverages coupled with pharmaceutical products intake to treat through lifestyle related illnesses. This packaging food could be attributed to the high demand by the children and young adults who are much inclined towards consuming packaged food.
North America is Anticipated to Dominate the Global Edible Packaging Market during the Forecast Period
The region has increased production of the packaged food that is supporting the growth of edible packaging market. The working population in this region is high that stimulates them to consume packaged food product. Its growth could be coupled with the increase in the disposable income of the individuals that are contributing to the market growth. The presence of numerous food processing companies are contributing to the growth of edible packaging market.
Global Edible Packaging market was moderately consolidated with key players accounting for significant share in 2018. The food processors are investing heavily into the innovative technologies to increase their competition in the global market.
Prominent players operating in the Global Edible Packaging Market are: Tipa Corp, WikiCell Designs Inc, Tate & Lyle Plc, Watson, Inc., JRF Technology LLC, Safetraces, Inc., Skipping Rocks Lab, BluWrap, MonoSol, LLC, Devro plc., Evoware, NAGASE & CO., LTD, and Ingredion, Inc., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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