Edible Food Packaging Market| COVID-19 Analysis, Competitive Dynamics, Trends, Demand, Global Size, Outlook And Forecast To 2023

[sagar]

The global market of Edible Food Packaging is growing and is expected to gain prominence over the forecast period. The global Edible Food Packaging market is estimated to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, digit CAGR of 6.1% during the estimated period (2017-2023). Innovation plays a major role in driving the growth of Edible Food Packaging market. Therefore, advanced technology in packaging has allowed companies to innovate products instead of sticking to traditional packaging methods. Due to this, many companies are in their product designs. Adopting sustainable and smart innovation will help improve the safety of food and at the same time will enhance the visual appeal for the consumers. Companies spend more on packaging innovation rather than on production cost so as to enhance the performance of the packaging technique.

Global Edible Food Packaging market has been segmented based on material, application, and region. On the basis of material, the market has been segmented into polysaccharides, lipid, protein films and others. Lipid based Edible Food Packaging dominates the material segment of the market. Lipid compounds contain neutral lipids of glycerides. Lipids are used in Edible Food Packaging as they are excellent barrier of oxygen and water vapor and prevents the food from contamination.

The prominent players in the Edible Food Packaging market include WikiCell Designs Inc. (U.S.), Tate & Lyle Plc. (U.K), Safetraces, Inc. (U.S.), JRF Technology, LLC (U.S.), Tipa Corp (Israel), MonoSol, LLC (U.S.), Watson, Inc. (U.S.), Devro plc (U.K), Interpack (U.S.), Evoware (Indonesia), Coveris Holdigs, (U.S.), Dupont de Nemours and Company (U.S.), Ingredion Inc (U.S.), Nagase & Co. Ltd. (Japan), and Pace International LLC (U.S.).

On the basis of regions, global Edible Food Packaging market is segmented as North America, Europe, Asia Pacific and Rest of the World (RoW). North America dominates the global Edible Food Packaging market. Increasing demand packaged food in this region driving the growth of the market. U.S. accounted for the largest market share in North America. Rise in preference of hygienic packaging and the growth of pharmaceutical industry in this region is also fuelling the growth of the market. Europe is expected to be another major market in terms of demand for Edible Food Packaging and is expected to contribute significantly during the forecast period. The packaging industry holds a strong ground in Europe owing to high demand for packaging coupled with speedy rates of product innovation and development. South America and the Middle East & Africa regions are also expected to show a positive growth during the forecast period due to rising demand from the e-commerce sector.

Asia Pacific region is expected to be the fastest growing region for the market. Rapid growth in packaging industry in Asia Pacific region is the major factor driving the growth of the market. Growing industrialization and urbanization in the developing countries such as China and India, provides boost to the market. Additionally, the availability of raw materials and low labor cost, together form a positive influence on the market growth. China, Japan, India, Australia, and Indonesia are the major markets of Asia Pacific. China accounts for the largest market share in the region mainly due to rapid growth in urbanization and industrial development.

 

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[AnthonyBridges]

Edible food packaging has got a lift in this COVID-19 stage. Keep sharing more blogs with us. The industry of packaging has got a boost in this era. You can get grademiners reviews to complete thesis task easily. People are ordering foods and other belongings being at home.