According to the report published by Zion Market Research, global edible films and coatings market was valued at approximately USD 2,420 Million in 2019, and is expected to generate revenue of around USD 3,825 Million by end of 2026, growing at a CAGR of around 8.1% between 2020 and 2026.
According to the report published by Zion Market Research, global edible films and coatings market was valued at approximately USD 2,420 Million in 2019, and is expected to generate revenue of around USD 3,825 Million by end of 2026, growing at a CAGR of around 8.1% between 2020 and 2026.
Global Edible Films and Coatings Market: Overview
Edible films and coatings help in extending the shelf lives of various products. Growing consciousness about ecological problems that are mainly related to the disposal of solid waste and decreasing the amount of waste generated are among the major factors behind food producers’ increasing focus on recyclable packaging solutions. The growing popularity and demand for global edible films and coatings market can be attributed to the fact that these packaging solutions aid the producers in decreasing their raw material waste.
Global Edible Films and Coatings Market: Growth Factors
The major growth driver in the global edible films and coatings market is the rising focus on waste reduction related to packaging materials by the food manufacturers. Other factors fuelling the expansion of the global market for edible films and coatings include growing consumption of easy-to-make food items due to busy and hectic lifestyles, especially in developed countries, governmental initiatives for reducing the carbon footprint by the food industry, and increasing use of edible films and coatings as an alternative to additives. Furthermore, edible films and coatings help in increasing the shelf lives of products and effective usage of packaging space. This is also contributing to the popularity of this market.
The lack of local producers and import dependence of edible films and coatings might prove to be a growth restrain for edible films and coatings market.
Global Edible Films and Coatings Market: Segmentation
The edible films and coatings market can be divided based on ingredient type and application. On the basis of ingredient type, the market for edible films and coatings is classified into lipids, polysaccharides, protein, and others. The protein segment is anticipated to dominate the global market for edible films and coatings in the coming future, due to its extensive application in the pharmaceutical and food sectors. Based on application, the edible films and coatings market can be categorized into nutritional products, dairy products, fruits and vegetables, bakery and confectionary, and poultry, fish, and meat, among others.
Global Edible Films and Coatings Market: Regional Analysis
Based on regions, the global market for edible films and coatings can be divided into five main regions: North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. The North American region is projected to dominate the global market for edible films and coatings during the forecast period. As edible films and coatings help in reducing carbon footprints by producers and manufacturers, it is increasingly being adopted by the key market players of this region owing to strict environmental protection laws. The Asia Pacific region is anticipated to show a good rate of growth in the market for edible films and coatings market in the future. This is due to the region’s altering phase toward global producers of fresh vegetables and fruits.
Global Edible Films and Coatings Market: Competitive Players
Some of the key players of the global market for edible films and coatings include Takikawa Oblate Corporation, Production and Innovation on Edible Coatings SL, Pace International, Mantrose-Haeuser Co., Watson Foods Co., W Hydrocolloids, Fuerst Day Lawson Holdings Limited, WikiCell Designs, CP Kelco, MonoSol, Cargill, Nagase & Co. Ltd., Devro Plc., FMC Corporation, Kerry Group, Ingredion, Ashland, DSM Company, DuPont de Nemours and Company, and Tate & Lyle PLC, among others.
Edible Films and Coatings Market: Regional Segment Analysis
FrequentlyAsked Questions
The global food packaging market has seen a soaring growth in recent years owing to growing consumption of packaged foods. This consumption has also been fueled by the changing consumer preferences. Further, the demand for packaging material that help in extending the shelf life of a product has increased over the years. These factors have been driving the global market.
According to the report published by Zion Market Research, global edible films and coatings market was valued at approximately USD 2,420 Million in 2019, and is expected to generate revenue of around USD 3,825 Million by end of 2026, growing at a CAGR of around 8.1% between 2020 and 2026.
The North America edible films and coatings market is projected to hold the largest share globally in the future. The region has dominated the global market owing to greater emphasize but by packaging companies in reducing their carbon footprints.
Some main participants of the Edible Films and Coatings market are Takikawa Oblate Corporation, Production and Innovation on Edible Coatings SL, Pace International, Mantrose-Haeuser Co., Watson Foods Co., W Hydrocolloids, Fuerst Day Lawson Holdings Limited, WikiCell Designs, CP Kelco, MonoSol, Cargill, Nagase & Co. Ltd., Devro Plc., FMC Corporation, Kerry Group, Ingredion, Ashland, DSM Company, and DuPont de Nemours and Company.
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