Edible Films and Coatings Market to be Valued at $3,336.7 Million by the End of 2027
Future Market Insights (FMI) in its recent outlook titled “Edible Films and Coatings Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017-2027)”, projects that in terms of value, the global edible films and coatings market revenue will expand at a CAGR of 4.5% during the forecast period. In terms of revenue, the global edible films and coatings market is estimated to account for $2,139.1 Million by 2017 end and this is anticipated to increase to $3,336.7 Million by the end of the forecast period in 2027.
The global edible films and coatings market is segmented on the basis of ingredient type, application, and region. By ingredient type, the market is segmented into protein, polysaccharides, lipids, and others. The protein segment is expected to dominate the global market over the forecast period due to its widespread application in the food and pharmaceutical industry. Improvement of technologies and prices of raw materials are factors that will ensure polysaccharide remains an important ingredient type over the forecast period.
Use of polysaccharides and protein films for the production of edible packaging films can offer lucrative growth opportunities for sustainable solutions due to reduced dependency on fossil fuel. Materials such as composite films, lipid, polysaccharides, and protein-based materials can offer new functionalities such as computability and biodegradability. The protein segment is estimated to account for a relatively high value share of 41% by 2017 end, and is anticipated to register a CAGR of 5.0% in terms of value over the forecast period.
By application the global edible films and coatings market is segmented into dairy products, nutritional products, bakery & confectionary, fruits & vegetables, meat, poultry & fish, and others. The fruits and vegetables and meat, poultry & fish segments are anticipated to capture a large share of the global edible films and coatings market during the forecast period. There is a shift from conventional case-ready packaging to portion-size packaging.
This packaging format uses a primary package for the whole set of portioned fresh food and secondary packages for individual food products. Use of portion-sizes for food products allows consumers to use required amounts of meat and reduce wastage of food products. This, in turn, is expected to create highly lucrative opportunities for food packaging manufacturers by increasing sales and would also boost existing revenue generation of edible films and coatings.
The fruits and vegetables segment is estimated to account for a relatively high value share of 26.0% by 2017 end, and is anticipated to register a CAGR of 4.7% in terms of value over the forecast period. The MEA market for edible films and coatings is also anticipated to witness a substantial consumption rate over the forecast period.
