Global Nanotechnology Packaging Market Overview
Nanotechnology Packaging Market Size was valued at USD 6.5 Billion in 2022. The Nanotechnology Packaging market Packaging Type is projected to grow from USD 7.4 Billion in 2023 to USD 20.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.30% during the forecast period (2023 - 2032). Favourable food safety laws and rising demand in the food, beverage, and pharmaceutical industries for efficient packaging solutions, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Nanotechnology Packaging Market Trends
Functional qualities such as antioxidants and scavenging is driving the market growth
The usage of nanoparticles results in a product with a longer shelf life, and functional properties like antioxidants and scavenging are major drivers of the revenue growth of the worldwide nanotechnology packaging market. Nanoparticles are also used to build nanosensors that measure physical, chemical, and biological changes in food throughout processing and detect food contaminants. Specially designed nanosensors and nanodevices are used to identify diseases, chemicals, and poisons. Bacteriostatic and bactericidal nanoscale compounds reduce microbial activity and prevent growth. Low gas permeability of nanocomposites enhances the barrier properties of the packaging as well as its temperature and moisture resistance. Utilising carbon nanotubes encourages the elimination of CO2 or the assimilation of unpleasant flavours, and is anticipated to further accelerate revenue growth.
The increase in demand for packaged food products around the world is what is driving the nanotechnology packaging market. All end use application industries are beginning to accept and demand nanotechnology packaging due to its tremendous advantages over conventional packaging methods. Over the years, the packaged meat sector has grown exceptionally, which has led to one of the largest needs for packaging nanotechnology. One of the biggest uses for the technology is in packaging for pharmaceutical products. Medical and pharmaceutical developments over the past few decades have necessitated improved packaging for better defence against external elements like light, moisture, and air. Additionally, the significance of medication packaging in modern treatments' drug delivery systems is critical, driving need for improved packaging technologies such drug packaging with nanotechnology.
The food and beverage industry is anticipated to drive the deployment of packaging solutions that can extend shelf life, preserve product quality, and be traceable. The demand in the pharmaceutical and personal care markets is anticipated to increase as a result of rising investments in research and development activities. Demand is expected to increase during the projected period as more processed food products like meat, fruit, and vegetables are packaged using nanotechnology. Government rules encouraging the use of nanotechnology packaging to maintain food safety have further fueled the business. For instance, the FDA suggests using nanotechnology in packaging for food and drinks. Thus, driving the Nanotechnology Packaging market revenue.
Nanotechnology Packaging Market Segment Insights
Nanotechnology Packaging Packaging Type Insights
The Nanotechnology Packaging Market segmentation, based on packaging type, includes active packaging, controlled release packaging, and intelligent packaging. Active packaging segment dominated the global market in 2022. Nanoparticles are used in active nano-enabled packaging to create a barrier against external factors. Oxygen scavengers, water vapour removers, carbon dioxide producers, ethylene removers, and ethanol releasers are a few of the technologies. The food and pharmaceutical industries are expected to see significant demand for this technology. Active packaging incorporates the active component into the food packaging material using nanotechnology, prolonging shelf life and improving food quality and safety. Oxygen scavengers, water vapour removers, carbon dioxide producers, ethylene removers, and ethanol releasers are a few of the technologies used in nanotechnology packaging. One of the main factors driving the growth of this market is the increasing demand for this technology in the food and pharmaceutical industries.
Intelligent and smart packaging is made to detect microbiological or biochemical changes in the food, such as the development of particular infections or the presence of particular gases that might cause food spoiling. Additionally, this technology serves as a tracking tool to guarantee food safety or prevent product fraud.
Nanotechnology Packaging Application Insights
The Nanotechnology Packaging Market segmentation, based on application, includes food & beverages, pharmaceutical, personal care & cosmetics, and others. Food & beverages segment dominated the Nanotechnology Packaging Market in 2022. Nanotechnologies are typically considered advantageous in the context of food packaging for extending product shelf life, identifying rotten ingredients, and overall enhancing product quality. The expansion of this market segment is being driven by the food and beverage sector, one of the areas where nanotechnology is anticipated to have a big impact in the future. In beverage packaging, nanotechnologies are frequently seen as useful for prolonging product shelf life, spotting spoiled ingredients, and improving product quality. The beverage industry, one of the industries where nanotechnology is projected to have a significant impact in the future, is what is driving the growth of this market segment.
Figure 1: Nanotechnology Packaging Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Nanotechnology Packaging Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. Europe Nanotechnology Packaging market dominated this market in 2022 (45.80%). Germany is an important market for nanotechnology packaging in Europe because of the rising demand from several end-use industries, including food and beverage, pharmaceuticals, and personal care. The nation is undergoing a significant shift towards environmentally friendly and sustainable packaging options, which is raising the need for materials based on nanotechnology. Further, the German Nanotechnology Packaging market held the largest market share, and the U.K Nanotechnology Packaging market was the fastest growing market in the European region
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: NANOTECHNOLOGY PACKAGING MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The North America Nanotechnology Packaging Market is expected to register significant growth from 2023 to 2032. Rising consumer electronics demand and a focus on environmentally friendly packaging are the main market drivers in the region. Packaging made with nanotechnology offers improved product performance, lower environmental impact, and better item protection, which is driving up demand for it in local markets. Further, the U.S. Nanotechnology Packaging market held the largest market share, and the Canada Nanotechnology Packaging market was the fastest growing market in the North America region.
The Asia Pacific Nanotechnology Packaging market accounted for the healthy market share in 2022. The consumption of ready-to-eat meals is on the rise, and China's and Japan's demographics are changing, which are the main drivers of the Asia Pacific business. Over the next few years, it is projected that significant expenditures made in the development of packaging solutions with nanotechnology will increase market demand. The food and beverage industry is anticipated to see an increase in demand for packaging solutions that may extend shelf life, preserve product quality, and be traceable. The demand in the pharmaceutical and personal care markets is anticipated to increase as a result of rising investments in research and development activities. Moreover, China’s Nanotechnology Packaging market held the largest market share, and the Indian Nanotechnology Packaging market was the fastest growing market in the Asia-Pacific region.
Nanotechnology Packaging Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Nanotechnology Packaging market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Nanotechnology Packaging Industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Nanotechnology Packaging Industry to benefit clients and increase the market sector. In recent years, the Nanotechnology Packaging Industry has offered some of the most significant advantages to medicine. Major players in the Nanotechnology Packaging market, including Amcor Limited, 3M Company, Bemis Company, Inc., Chevron Phillips Chemical Company LLC, and Honeywell International Inc., are attempting to increase market demand by investing in research and development operations.
Chemical firm PPG Industries Inc. (PPG) produces and sells paints, coatings, optical goods, and speciality materials. It provides sealants, amorphous precipitated silicas, and protective and ornamental coatings. The business serves clients in a variety of end-use industries, including those for industrial equipment and components, packaging materials, aircraft and marine equipment, original equipment manufacturers (OEM) for the automobile industry, automotive refinishing, and industrial and consumer goods. Additionally, it caters to the new construction and maintenance industries for businesses and homes. The business operates in 70 different nations. PPG runs production plants across North America, Latin America, Europe, the Middle East, and Africa (EMEA), as well as Asia-Pacific. In the US, the firm operates research centres in North Carolina and Pennsylvania. In the United States, PPG is based in Pittsburgh, Pennsylvania. PPG announced in November 2021 that its Packaging Coatings Innovation Centre, Europe in Bodelshausen, Germany, would formally open.
Previously known as Sealed Air Corp, SEE (SEE) is a company that offers packaging solutions. The business provides easy-open packaging solutions, trays, films, and equipment systems for packaging. Additionally, the business provides ship-from-anywhere services, fulfilment design and engineering services, shrink machinery updates and additions. The business offers support for the building, consumer packaged goods, electronics, retail food, general manufacturing, production of pharmaceuticals and medical devices, third-party logistics, and transportation sectors. It operates manufacturing facilities, design and packaging studios, research facilities, and customer education centres. Under the brand names OptiDure, Bubble Wrap, Autobag, Sealed Air, TempGuard, and others, the company sells its goods. Several nations in the Americas, Europe, Africa, the Middle East, and Asia-Pacific are served by the company. The U.S. city of Charlotte, North Carolina, is home to Sealed Air's headquarters. Sealed Air Singapore provided innovative and eco-friendly packaging options in December 2021. Both of its QuikwrapTM Nano paper and TemPreserveTM Insulative Foam products received awards at the 'Designed in Singapore Awards' and 'Made in Singapore Awards,' respectively.
Key Companies in the Nanotechnology Packaging market include
Nanotechnology Packaging Industry Developments
March 2021: With the commercial supplier of surfactants made from biomass, Allied Carbon Solutions Co.Ltd (ACS) Japan, BASF forges a strategic partnership that includes an equity participation.
March 2020: The Transponder division of Smartrac has been fully acquired by Avery Dennison Corporation for US $248.09 (€225) million.
June 2019: The purchase of the Bemis Company Inc. by Amcor has been successfully completed. Amcor's industry-leading value proposition will be strengthened by the addition of Bemis' scale, capabilities, and footprint, which will also produce substantial value for shareholders.
Nanotechnology Packaging Market Segmentation
Nanotechnology Packaging: Packaging Type Outlook
- Active Packaging
- Controlled Release Packaging
- Intelligent Packaging
Nanotechnology Packaging Application Outlook
- Food & Beverages
- Personal Care & Cosmetics
Nanotechnology Packaging Regional Outlook
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Latin America
Market Size 2022
USD 6.5 Billion
Market Size 2023
USD 7.4 Billion
Market Size 2032
USD 20.0 Billion
Compound Annual Growth Rate (CAGR)
Market Forecast Period
Market Forecast Units
Value (USD Billion)
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Packaging Type, Application, and Region
North America, Europe, Asia Pacific, and the Rest of the World
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled
Amcor Limited, 3M Company, Bemis Company, Inc., Chevron Phillips Chemical Company LLC, and Honeywell International Inc.
Key Market Opportunities
Increasing attention to sustainable solutions
Key Market Dynamics
Favourable food safety laws and rising demand in the food, beverage, and pharmaceutical industries for efficient packaging solutions
Frequently Asked Questions (FAQ) :
The Nanotechnology Packaging Market size was valued at USD 6.5 Billion in 2022.
The global market is projected to grow at a CAGR of 13.30% during the forecast period, 2023-2032.
Europe had the largest share in the global market
The key players in the market are Amcor Limited, 3M Company, Bemis Company, Inc., Chevron Phillips Chemical Company LLC, and Honeywell International Inc.
The Active Packaging, Packaging Type dominated the market in 2022.
The Food & Beverages Application had the largest share in the global market.
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