Environmental consciousness as well as individual’s demand for ready to eat food, recently, has changed the trends in food packaging leading to the development of biodegradable and edible packaging. Emulsified edible films have better transparency, superior mechanical properties and provide barriers to water and other atmospheric gases. Edible films if not consumed, biodegrad chemically. In present study, edible films were, initially, prepared using Chitosan and Aloe vera at different concentrations. Films were then subjected to physical and mechanical testing. Films with 20% Aloe vera had low thickness as compared to films with no Aloe vera. These films also had superior mechanical properties and lower water vapor permeability. Films with 20% Aloe vera were, then, selected and beeswax was dispersed in Chitosan-Aloe vera solution at concentration upto 2.0% followed by film preparation through casting technique. Thickness and water vapor permeability were observed to be improved with increase in concentration of beeswax. Tensile strength of edible films was also improved 1.3 times when concentration of beeswax increased from 0.5 to 2.0%. Percentage elongation decreased with increase in beeswax concentration in the emulsified films. No change in particle size was observed with change in concentration of beeswax. Emulsions were also stable at room temperatures. Decrease in transparency of emulsified edible films was observed with increase in beeswax content in the emulsified films. In addition, cost analysis of the films proved them reasonable to be used as an alternate of synthetic packaging materials.