Impact of COVID-19 on Edible Films and Coating Market : Implications on Business
The growth rate charted by global edible films and coating market from 2019 to 2027 will be impressive and that would lead to a steep and upward facing growth curve. A people move towards eco-friendly packaging solutions, demand for edible films and coatings that are biodegradable and environmentally sustainable is set to grow. Additionally, innovation in the market – a product of proactive player approach – will add to the upward trend. Besides, the fact that these are known to improve shelf life without compromising safety of consumer of environment massively goes in favor of their already growing popularity, particularly over the forecast period, as per Transparency Market Research.
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lobal Edible Films and Coating Market: Notable developments
The market boasts of a decent number of players who are quite competitive in their approach to growth. The last few years have seen a notable increase in their numbers, making the vendor landscape more fragmented. The new players have gained significant clout, credit new product launches and effective growth strategies – organic and inorganic.
2017: Brands such as Lactips are good examples of players focusing upon new offerings to capture growth in the market. It recently created pellets that were made of casein, a milk-based protein. It is biodegradable, and 100% natural. The launch created intense competition in the market.
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Top players in the Edible Films and Coating Market include:
- Dupont de Nemours Inc.
- Cargill
- Tate & Lyle
- Dohler Group, D
- Ingredion Incorporated
- Koninklijke DSM N.V.
Range of strategies applied by top players is wide, and falls across the organic-inorganic continuum. These include forging key alliances and advancement of technology to bring innovation to fore.
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Global Edible Films and Coating Market: Key trends and driver
The global edible films and coatings market is growing due to interplay of various trends and drivers. One of the biggest growth factors in the market, as identified by Transparency Market Research, is its viability as substitute to plastic packaging. More details along with a glimpse into other factors is below:
- Environmental concerns are really propelling consumers to opt for green choices and materials in their everyday life. It is quite significant to make note of the profile of woke millennial consumer who is concerned of his carbon footprint and impact of his choices on the environment.
- Additionally, harmful impact of plastics is also garnering eyeballs, leading to demand for better alternatives, driving global edible films and coatings market forward. It is notable here that these can be consumed with food without creating a hazard for consumer. Besides, these are effective in keeping the shelf life proper.
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