Meticulous Research®, a leading global market research company, has recently published an in-depth report titled, ‘Edible Packaging Market Size, Share, Forecast, & Trends Analysis by Source (Plant, Animal), Raw Material (Seaweed & Algae, Polysaccharides, Lipids), Packaging Process (Antimicrobial, Nanotechnology, Microbial), End Use—Global Forecast to 2031.’ According to the report, the edible packaging market is projected to reach a substantial $1.98 billion by 2031, exhibiting a CAGR of 7.3% over the forecast period from 2024 to 2031.
The growth of the edible packaging market is driven by the increasing need to reduce packaging waste, rising consumption of processed foods, and the growing demand for eco-friendly alternatives to traditional packaging materials. Despite these positive trends, the market faces challenges such as the high costs of edible packaging materials and stringent regulatory requirements. Nonetheless, advancements in packaging technologies and innovations in the edible packaging industry are expected to create significant growth opportunities for stakeholders.
Detailed Analysis Report@https://www.meticulousresearch.com/product/edible-packaging-market-5933?utm_source=linkedin&utm_medium=social&utm_campaign=product&utm_content=04-07-2024
Key Insights and Market Segmentation:
- Source: The market is segmented by source into plant and animal categories. In 2024, the plant segment is anticipated to dominate with a 67.0% market share, driven by rising concerns over single-use plastics and increased adoption of veganism and vegetarianism.
- Raw Material: The seaweed & algae segment is expected to hold the largest share of 44.3% in 2024, attributed to its renewable and sustainable nature. However, the polysaccharides segment is projected to grow at the highest rate during the forecast period due to its biodegradability and cost-effectiveness.
- Packaging Process: The antimicrobial segment is forecasted to be the largest in 2024, driven by the need to inhibit the growth of harmful microorganisms and enhance food safety.
- End Use: The food & beverages segment is expected to account for a substantial 78.1% market share in 2024, supported by the increasing demand for processed foods and changing consumer lifestyles. The pharmaceuticals segment is anticipated to grow at a higher rate due to the convenience and compliance benefits of edible packaging for medications.
- Geography: North America is projected to lead the market with a 42.5% share in 2024, followed by Europe and Asia-Pacific. The Asia-Pacific region is expected to witness the highest growth rate during the forecast period, driven by changing consumer lifestyles, rising disposable incomes, and government initiatives to ban single-use plastics.
Key Players: Prominent players in the edible packaging market include Notpla Limited (U.K.), Xampla Limited (U.K.), JRF Technology, LLC (U.S.), MonoSol, LLC (U.S.), Evoware (Indonesia), Nagase America LLC (U.S.), Devro Limited (U.K.), TIPA Corp. Ltd. (Israel), Lactips (France), Mantrose-Haeuser Co., Inc. (U.S.), Do Eat (Belgium), Amtrex Nature Care Pvt. Ltd. (India), Glanbia plc (Ireland), and Pace International, LLC (U.S.).
The comprehensive study also evaluates industry competitors and analyzes the market at both regional and country levels, providing critical insights for businesses and investors.
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Key Questions Addressed in the Report:
- Which are the high-growth market segments in terms of source, raw material, packaging process, end use, and geography?
- What is the historical market size for edible packaging products globally?
- What are the market forecasts and estimates for the period 2024–2031?
- What are the major drivers, restraints, opportunities, challenges, and trends in the edible packaging market?
- Who are the major players and their market shares in various regions?
- What is the competitive landscape of the edible packaging market?
- What growth strategies are adopted by the major players in the edible packaging market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the emerging local players, and how do they compete with established players?
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The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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