Portland, OR -- (SBWIRE) -- 09/08/2017 -- Allied Market Research recently published a report titled "Edible Packaging Market by Material and End Users- Global Opportunity Analysis and Industry Forecast, 2017–2023". According to the detailed report, the global edible food packaging market, with a value of $697 million in 2016, is estimated to garner $1,097 million by 2023. Accurate data acquired from primary and secondary research carried out by expert analysts included in the report is supported by vital statistics, charts, tables, and figures.

A comprehensive quantitative and qualitative analysis provides a deeper understanding of the market. The factors affecting the dynamics of the market such as key drivers, restraints, and opportunities are included extensively in the report. The influence of the buyers, suppliers, new entrants, substitute products, and the intensity of competitive rivalry on the market is analyzed using Porter's Five Forces Analysis. On analyzing, the bargaining power of the buyers and suppliers was found to be moderate, whereas the threat of new products and substitutes in the market is high. Due to the availability of a wide range of products, the competitive rivalry among the players in the market is moderate.

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The packaging of food is one of the most important concerns of manufacturers in the food industry. With innovative packaging methods such as edible packaging developed, there has been a considerable drop in the waste generated. A rise in demand for processed food products with a longer shelf life act as the driving factors of the global edible packaging market. However, the cost of edible packaging is higher compared to the conventional packaging techniques. The high regulatory requirements and the costs associated act as the biggest hindrance to the growth of the edible packaging market.

The report segments the global edible packaging market based on the type of material, end user, and the region. The materials used in edible packaging include lipids, polysaccharides, proteins, composite films, and surfactants. The lipids segment is projected to grow at a remarkable CAGR of 6.1% during the forecast period. The end user segment is further divided into pharmaceuticals and food & beverages. The pharmaceuticals segment accounted for 27.56% share of the market. The report includes the region-wise analysis of the edible packaging market in North America, Asia-Pacific, Europe, and LAMEA. The U.S. accounted for more than 42% share in the North America edible packaging market, making it the largest shareholder of that market.

The leading players in the market include WikiCell Designs Inc., MonoSol LLC, Tate & Lyle PLC, JRF Technology LLC, Safetraces Inc., BluWrap, Skipping Rocks Lab, Tipa Corp, Watson Inc., and Devro PLC. The company overview, business performance, key strategic moves and developments of the key players included in the report offer a critical insight into the current market scenario.

Key Points to be considered

- The report highlights the most lucrative investment pockets in the global market, thus enabling potential investors to take informed decisions.

- Geographically, the global edible packaging market is expected to be dominated by Europe, followed by North America and Asia-Pacific.

- Lipid-based edible packaging offers excellent protection from oxygen and water vapor thus garnering maximum revenue share of the market.

- The protein-based film segment is anticipated to grow at the highest CAGR of 7.5% followed by the composite films at a CAGR of 7.2%.

- The food and beverages segment accounted for 72% share in the end users segment.

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