SOUTH KOREA EDIBLE PACKAGING IN FOOD & PHARMACEUTICAL MARKET FORECAST 2023-2030

South Korea produces seven times more municipal solid waste daily than Finland, amounting to half a million tonnes. A survey conducted in August 2021 revealed that drinks and dairy products accounted for approximately 32.5% of domestic food packaging plastic waste in South Korea, while snacks and desserts contributed to just under 13% of plastic waste from home food packaging. 

Packaging waste constitutes over 50% of municipal solid waste and 46% of all plastic waste in the country. The pandemic also led to a 78% increase in food delivery, a 19% increase in plastic waste, and a 21% overall surge in deliveries in 2020.

There is a high demand for innovative functional bio-packaging materials such as paper, bioplastics, and edible packaging to reduce plastic usage and enhance recycling. The industry also emphasizes eco-friendly aspects, with businesses developing packaging materials like maize starch containers and soybean oil-based take-out cartons. However, South Korea faces a challenge due to the limited variety of domestic packaging materials. Most essential packaging materials are imported, and as demand continues to rise, imports are expected to increase in volume.

The South Korea edible packaging in food & pharmaceutical market segmentation evaluation entails application, component, and source. Market by application covers food and pharmaceutical. 

Edible packaging is primarily used in the pharmaceutical and nutraceutical industry, specifically for capsule packaging. The prevailing trend towards healthier lifestyles is driving the growth in these sectors, as consumers increasingly seek products and services that support their overall health and well-being. This consumer demand is expected to continue fueling the growth of pharmaceutical and nutraceutical products in the forecast period.

In the pharmaceutical industry, edible packaging materials such as sugar or gelatin capsules have become the industry standard. These materials are crucial in carrying pharmaceutical substances and are an integral part of the packaging. Edible packaging offers several potential benefits for pharmaceutical and nutraceutical products.

Furthermore, edible packaging allows for customized dosing. It can be tailored to specific dosages, making it easier for patients to manage their medication regimens effectively. Another advantage of edible packaging is its potential to improve the taste and texture of medicines and supplements. By utilizing edible materials, the palatability and ease of swallowing can be enhanced, providing a more pleasant experience for consumers.

Key company in the South Korea edible packaging in food & pharmaceutical market is NAGASE & Co Ltd.

NAGASE & Co Ltd is a chemical trading firm engaged in the production technology for organic synthesis and blending and enzymatic reactions. It offers functional ingredients through its subsidiary Nagase Food Ingredients for applications like texture-modified diets, animal-based products, nutraceuticals, confectionaries, etc. The company operates globally in the Middle East & Africa, Asia-Pacific, Europe, and the Americas, with headquarters in Tokyo, Japan. 

One of its products, PULLULAN, is a natural, water-soluble polysaccharide produced from starch syrup through fermentation.