Global Edible Films And Coatings market segments 2024, Forecast To 2033

The edible films and coatings market has seen robust growth, progressing from $3.2 billion in 2023 to $3.46 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period is attributed to increased efforts in food preservation and shelf-life extension, consumer demand for natural and sustainable packaging, a reduction in food waste, regulatory compliance for food safety, and a heightened focus on environmental concerns. Anticipating sustained strong growth in the next few years, the market size is expected to reach $4.89 billion in 2028, supported by a consistent CAGR of 9.0%. Growth in the forecast period is attributed to plant-based and vegan edible coatings, increasing efforts in food security and traceability, the use of functional ingredients in edible coatings, a growing need for cost savings and efficiency, and the expansion of emerging markets. Major trends in the forecast period include technological advancements in food packaging, industry collaboration and research, innovative edible packaging materials, the integration of smart packaging and QR codes, and a focus on clean label and transparent packaging.