Research Nester released a report titled “Edible Films and Coatings Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global edible films and coatings market in terms of market segmentation by ingredient type, application, and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with the detailed discussion on current and future market trends that are associated with the growth of the market.
The edible films and coatings are projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029, on account of the increasing prevalence of eco-friendly packaging solutions due to sustainability awareness.
The market is segmented by ingredient type into protein-based, polysaccharides-based, lipids-based, and composites-based. Among these segments, the protein-based segment is anticipated to hold the largest share by the end of 2021 in the edible films and coatings market. It is due to the cheaper packaging option offered by the protein-based packaging than another available packaging.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the edible films and coatings market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. Currently, the market in the Asia Pacific holds the largest share. This can be attributed to the presence of the most populous countries, especially China and India, which are extensively involved in the research and development of innovative packaging solutions.
Increasing Prevalence of Eco-Friendly Packaging Solutions to Drive Market Growth
As per the data provided by the United States Environmental Protection Agency, the containers and packaging category had the most plastic wastage, at over more than 14.5 million tons in 2018 in the United States.
Plastic waste & pollution are some of the major problems faced by many countries. It has been observed that developing countries accumulate most of their plastic waste. Moreover, the rising prevalence of eco-friendly packaging solutions in recent years coupled with governmental initiatives to reduce plastic waste is also expected to boost the market growth in the forecasted period. However, the expensive cost of edible packaging and coatings & lack of awareness in low-income economies are some of the factors that are estimated to restrain market growth in the near future.
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This report also provides the existing competitive scenario of some of the key players of the global edible films and coatings market, which includes company profiling of DuPont (NYSE: DD), Ingredion (NYSE: INGR), Sumitomo Chemical Co. Ltd. (TYO: 4005), Tate & Lyle (LON: TATE), TIPA LTD, JRF Technology LLC, BluWrap, and CP Kelco. The profiling enfolds essential information of the companies, which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global edible films and coatings market that will help industry consultants, equipment manufacturers, and existing players searching for expansion opportunities, new players exploring possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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