The edible films and coatings market is anticipated to expand from US$ 2,210.0 million in 2023 to over US$ 4,871.0 million by 2033 at a CAGR of 8.2%.
The demand for edible films and coatings is propelled by factors like food preservation and quality maintenance, consumer preference for natural and safe products, customization and personalization, regulatory support, and technological advancements.
Challenges exist for companies such as achieving film performance and stability, cost efficiency, scale-up and production scalability, and consumer acceptance and perception. Opportunities for growth in the industry include incorporating functional ingredients, convenience and portability, collaboration and partnerships, and emerging market potential.
Latest trends in the industry include clean label and natural ingredients, active packaging and functional films, intelligent packaging and smart films, novel applications, and online retail and e-commerce.
Key Takeaways in the Market:
- North America holds a significant share of 36.7% in the edible films and coatings market due to the increasing adoption of sustainable packaging solutions and growing consumer demand for safe and eco-friendly products.
- Germany has a market share of 3.8% driven by its emphasis on sustainability and eco-friendly solutions. China, with a CAGR of 7.9%, recognizes the need for sustainable alternatives and solutions.
- India’s food processing industry is leading to a growth trajectory of 6.4% supported by initiatives promoting sustainable packaging practices.
- Polysaccharides contribute to a 43.4% share of the market due to their versatility and effectiveness.
- Fruits and vegetables hold a share of 38.2% as edible films and coatings help prevent post-harvest losses and cater to consumer preferences for natural products.
Competitive Landscape in the Edible Films and Coatings Market
The global market for edible films and coatings is competitive, and several global competitors are crucial to industry growth. Manufacturing businesses are investing extensively in research and development to create alternatives to plastic packaging, and edible films and coatings.
Companies turned their focus to producing eco-friendly and biodegradable edible films and coatings. To strengthen their foothold in the trash bag market, manufacturers used methods such as mergers and acquisitions, new product development, and distribution channel growth.
Latest Developments:
- In April 2021, AgroFresh Solutions Inc., the United States-based provider of food freshness and quality solutions, launched VitaFresh Botanicals – Life Ultra, a new plant-based film. It employs a new innovative technology involving a nanoemulsion process that generates small particles, resulting in the best coating of foods and increased protection.
- Sherwin-Williams Company, a paint and coatings manufacturer based in the United States, agreed to buy Peter Möhrle Holding and the GP Capital UG partnership, which includes Oskar Nolte GmbH and Klumpp Coatings GmbH, for an unknown sum in November 2022. Sherwin-Williams expects to develop economically fast in the global industrial wood market with this acquisition and might continue to pursue its acquisition strategy of complementary, large, and distinguishing enterprises.
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Segmentation Analysis of the Edible Films and Coatings Market
By Ingredient Type:
- Polysaccharides
- Protein
- Lipids
- Others (Based on Nano-reinforcements, blends, and encapsulation)
By Application:
- Nutritional Products
- Dairy Products
- Confectionery & Bakery
- Vegetables & Fruits
- Poultry, Meat & Fish
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa
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