Edible packaging refers to an innovative form of biodegradable and edible packaging materials that are used to package food products. Edible packaging materials are made up of edible ingredients like fruits, vegetables, grains and oilseeds that act as a replacement for conventional plastic packaging. Common examples of edible packaging include seaweed and aloe vera wraps, gelatin films, and coatings made from chitosan. These materials provide necessary protection and extend shelf life while being consumed along with the product.
Market Dynamics:
Increasing demand for biodegradable and environment friendly packaging from consumers as well as stringent regulations regarding use of single use plastics across various regions is a key driver fueling growth of global edible packaging market. According to estimates, over 300 million tons of plastic waste is generated annually worldwide. Growing awareness about negative impact of plastic waste on environment has led various packaging companies and food brands to shift focus towards more sustainable solutions like edible packaging. Additionally, rapid growth of food delivery and takeaway service industry is also boosting adoption of edible wrappers and seals made from materials like seaweed and gelatin that substitute plastic coated papers and foils commonly used today.
SWOT Analysis
Strength: Edible packaging is a sustainable and eco-friendly alternative to traditional plastic packaging. It reduces waste and is completely biodegradable. Edible packaging allows branding opportunities for food products by printing logos directly on the packaging.
Weakness: Edible packaging has a shorter shelf life compared to traditional plastic packaging. Various factors like humidity, temperature fluctuations can impact the shelf life. Additional research is required to develop edible packaging solutions for diverse applications and food products.
Opportunity: Growing consumer preference for green and sustainable packaging opens up opportunities for edible packaging market. The ban on single-use plastic offers a huge market potential. Strategic partnerships between food brands and edible packaging providers can help commercialize the technology.
Threats: Stiff competition from well-established flexible plastic packaging players poses threats. Fluctuating raw material prices of components used in edible packaging like alginate, carrageenan can impact costs. Development of alternative green packaging technologies threatens market displacement.
Key Takeaways
Global Edible Packaging Market Size is expected to witness high growth. Transition towards sustainable packaging drives the demand.
Regional Analysis: Asia Pacific dominates currently due to rapid growth in food processing industries and supportive government regulations pushingalternatives to plastics.
Key players operating in the edible packaging market 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. The market is consolidated with top players accounting for majority share. Players are investing in R&D to develop specialized edible packaging solutions for fresh produce, confectionery, biscuits/bakery, meat and others.
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