PUBLISHER: Inkwood Research | PRODUCT CODE: 1294758
PUBLISHER: Inkwood Research | PRODUCT CODE: 1294758
The North America edible packaging in food & pharmaceutical market growth is anticipated to progress at a CAGR of 4.14% during the forecast period, 2023-2032. The region's thriving food and pharmaceutical sectors drive the growth of the edible packaging market in North America. The market growth is further propelled by the presence of several edible packaging production businesses and expanding package innovations.
Canada and the United States are evaluated for the North America edible packaging in food & pharmaceutical market growth assessment. In Canada, the market growth is accredited to the increasing consumer awareness of synthetic packaging and the rising environmental conscience. Also, eco-friendly packaging is gaining popularity in Canada's packaging industry. In addition, fiber-based packaging is becoming popular, nudging brands to use more environmental-friendly packaging.
Further, the government stated its plan to outlaw single-use plastics. This has raised the demand for eco-friendly substitutes like edible packaging. Also, the country's food industry is among the major consumers of edible packaging, given the huge demand for ready-to-eat and convenient foods. Besides, there is increased demand for small- and single-size portions of convenience foods and snacks. Moreover, consumers are increasingly spending on items like dried foods, bakery goods, nuts, snack foods, hot cocoa sticks & pouches, etc. Such aspects enable growth opportunities for the Canada edible packaging in food & pharmaceutical market.
Some of the leading players in the market include: Apeel Sciences, MonoSol LLC, Decomer Technology OU, etc.