Inkwood Research predicts the Global Edible Packaging in Food & Pharmaceutical Market to propel with a 4.11% CAGR by 2032, and is estimated to be valued at $1202.06 million during the forecast period, 2023-2032.
“Browse 55 market data Tables and 54 Figures spread over 250 Pages, along with an in-depth TOC on the Global Edible Packaging in Food & Pharmaceutical Market Forecast 2023-2032.”
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As environmental awareness grows, edible packaging emerges as a potential substitute for plastic. Still in its early stages, the development of edible packaging relies on research and development efforts, as well as regulatory support. Commercializing edible packaging requires cost reduction and scalability to compete with synthetic plastic films, which are currently more cost-effective. Continued research and larger-scale production are essential for successfully commercializing edible packaging.
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Popularity of Processed Food and Beverages Drives the Market Growth
The demand for processed food and beverages is rising due to the convenience, longer shelf life, and increased accessibility they offer. Consumers in both developed and developing countries seek healthier options with reduced sugar, salt, and fat and higher levels of whole grains, fruits, and vegetables. This trend toward nutritious processed products is driving the development and production of such offerings.
Food is Set to Lead the Application Segment
Edible packaging finds extensive use in the food industry, encompassing various products such as bakery goods, fresh foods, frozen foods, ready-to-eat meals, infant food, and functional foods. As the demand for processed food rises worldwide due to changing lifestyles, the edible packaging market is poised for significant growth in the forecast period.
Dominating Region: North America
The North America edible packaging in food & pharmaceutical market is driven by factors such as the rise of food, beverage, and nutraceutical sectors, a shift towards sustainable alternatives, and the presence of thriving processed food and pharmaceutical industries.
The global market is experiencing growth opportunities, particularly in the fresh produce industry. Manufacturers employ competitive strategies such as portfolio development and partnerships to strengthen their market position. Innovation, brand identity, and transparency influence buyer behavior, resulting in intense competitive rivalry.
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About Inkwood Research
Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, the Middle East, Europe, Asia, and Africa.