The latest market report published by Credence Research, Inc. “Global Nanotechnology Packaging Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global nanotechnology packaging market has witnessed steady growth in recent years and is expected to continue growing at a CAGR of 18.20% between 2023 and 2030. The market was valued at USD 15.1 billion in 2022 and is expected to reach USD 48.67 billion in 2030.
The global nanotechnology packaging market is highly competitive, with key players such as Avery Dennison, PPG Industries, Klöckner Pentaplast, Sealed Air, Tetra Pak International, Asahi Kasei, Dow, Plasmatreat, Sciessent, Toyo Seikan Kaisha, Valentis Nanotech, Amcor Limited, Honeywell International, BASF SE, Chevron Phillips Chemical, Sonoco Products Company, and Danaflex Nano LLC. These players focus on product innovation, expanding their distribution channels, and mergers and acquisitions to maintain a competitive edge in the market.
Active packaging is the most popular type of nanotechnology in the market, offering functional properties such as antioxidants, scavenging, and longer shelf life. Controlled-release packaging holds the highest CAGR segment, showcasing promising growth potential. In terms of applications, the food and beverages category dominates the market, with North America leading the market growth.
Nanotechnology packaging market drivers are a result of the increasing demand for sustainable and eco-friendly packaging solutions. With consumers becoming more environmentally conscious, there is a need for innovative packaging materials that reduce waste and carbon emissions. Nanotechnology provides an effective solution to this problem by enabling the production of lightweight and biodegradable packaging materials. Additionally, nanotechnology offers superior barrier properties that help preserve food quality and extend shelf life. This technology also enhances product safety by preventing contamination and reducing the risk of spoilage.
The usage of nanoparticles is a significant driver for the global nanotechnology packaging market. Nanoparticles offer functional properties that enhance packaging, such as antioxidants, scavenging capabilities, and longer shelf life. Nanosensors built with nanoparticles are used to measure physical, chemical, and biological changes in food processing, detect contaminants, and identify diseases, chemicals, and poisons. Nanoscale compounds with bacteriostatic and bactericidal properties reduce microbial activity and prevent growth. The low gas permeability of nanocomposites enhances barrier properties, temperature resistance, and moisture resistance of the packaging. These factors contribute to the demand for nanotechnology packaging. However, challenges exist, including the potential migration of nanoparticles from packaging to food, the cost of nano packaging compared to conventional packaging, and regulatory considerations such as FDA regulations. Furthermore, the use of nanoparticles as fillers may impact the biodegradability of composite materials.
Despite the challenges, the global nanotechnology packaging market presents significant growth opportunities. Ongoing research and discoveries in nanotechnology fuel market growth and innovation. The market benefits from the increasing demand for environmentally friendly and sustainable packaging options. Demographic changes and the rising consumption of ready-to-eat meals also drive the demand for nanotechnology packaging. However, the market needs to address challenges related to research laboratories, which may face a shortage of skilled personnel, affecting market growth.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Nanotechnology Packaging Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the Application and Type
- Major nations in each region with their import/export statistics
- The global Nanotechnology Packaging Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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