May 22, 2024
Global Edible Packaging Market

Edible Packaging Market is Driven by Sustainability Concerns

Edible packaging refers to packaging materials that are entirely edible and dissolvable. These include seaweed film that can be used to wrap foods and algae-based films that can be molded into clamshell containers. Edible packaging provides an eco-friendly solution to the growing plastic waste problem, reducing environmental impact of single-use packaging. Edible packaging also protects the product during transport and retail while eliminating the need to discard the packaging material after use. The materials used for edible packaging such as seaweed extracts and algae are abundant natural sources compatible with food products.

The global Edible Packaging Market is estimated to be valued at US$ 1067.15 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends in the edible packaging market is the focus on innovative materials. Manufacturers are exploring new sources of edible and biodegradable materials that can effectively encapsulate food products and retain their freshness. Algae extracts and bacterial cellulose films are emerging as promising innovative packaging materials. Additionally, companies are investing in research to develop materials that can appeal to customers by adding flavors and textures to packaged products. Technologies such as 3D printing are also being applied to develop customized edible shapes and forms of packaging. These developments are expanding applications of edible packaging beyond wrapping films to more complex designs catering to evolving consumer needs.

Porter’s Analysis
Threat of new entrants: Low-moderate, as the edible packaging market requires significant R&D investment and has well-established players. However, new startups can enter with innovative products.

Bargaining power of buyers: Moderate, as buyers have several options to choose from. However, demand for sustainable options is increasing buyer power.

Bargaining power of suppliers: Low, as raw material suppliers depend highly on edible packaging manufacturers. Suppliers have less influence on pricing.

Threat of new substitutes: High, as alternative sustainable packaging continues to emerge and improve. Substitutes like bioplastics pose strong competition.

Competitive rivalry: High, as the market has many global and local players competing on innovation, pricing and sustainability ideals.

Key Takeaways
The Global Edible Packaging Market Size is expected to witness high growth.

Regional analysis:

Asia Pacific dominates currently holding over 35% share due to strong presence of manufacturers in China and emerging biopackaging demand. Europe follows due to stringent regulations favoring sustainable options.

Key players operating in the edible packaging are Tianshui Huatian Technology Co Ltd, Hana Micron Inc., lingsen precision industries Ltd, Formosa Advanced Technologies Co. Ltd (FATC), Advanced Semiconductor Engineering Inc. (ASE Inc.), Amkor Technology Inc., Jiangsu Changjiang Electronics Technology Co. Ltd, Powertech Technology, King Yuan Electronics Corp. Ltd, ChipMOS Technologies Inc., TongFu Microelectronics Co., and Signetics Corporation. Tianshui Huatian Technology is a leader in China for bioplastics.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it