The global nano-enabled packaging market is estimated to reach US $ 89.0 billion by 2026 growing at a CAGR of 12.7% during the forecast period, according to a new study published by Polaris Market Research. The report ‘Nano-Enabled Packaging Market Share, Size, Trends, & Industry Analysis Report, By Type (active, intelligent, others); By End-User (food and beverages, pharmaceutical, personal care, others); By Regions: Segment Forecast, 2018 – 2026’ provides an extensive analysis of present market dynamics and predicted future trends. In 2017, the food and beverage segment accounted for the highest market share. Asia-Pacific is expected to be the leading contributor to the global market revenue in 2017.
Nano-enabled packaging in food & beverage segment
The increasing demand for packaged food products, growth in eCommerce, and an increasing proportion of technologically inclined consumers support the market growth. Increasing demand for fresh fruit and vegetables and stringent government regulation to promote the use of nano-enabled packaging for improved food safety boosts the market growth.
Nano-enabled packaging in pharmaceutical industry
The growing use in the pharmaceutical industry, development of intelligent packaging, and rise in food-led export activities would accelerate the adoption of nano-enabled packaging solutions during the forecast period. Various brands operating in the packaging market are adopting nano-enabled and smart packaging to enhance shelf appeal and brand exposure. New marketing techniques incorporating smartphone apps and codes are being used to attract consumers, thereby increasing the industry size.
Use of nano-enabled packaging is expected to increase significantly during the forecast period. Use of nanotechnology in food packaging increases the shelf life of food products, minimizes spoilage, ensures food safety, and repairs the tears in packaging. Nano-enabled packaging solutions are also capable of alerting consumers about the safety of the product, and sometimes release preservatives to extend shelf life of food in package.
A wide range of nanosensors is used in the food packaging industries, which include electronic noses, array biosensors, nanocantilevers, nanoparticle in solution, and nano-test strips among others. Packaging with nanosensors is useful to trace the external or internal conditions of food products, pellets, and containers throughout the food supply chain.
Asia-Pacific generated the highest market share in terms of revenue in 2017 and is expected to lead the global nano-enabled packaging market throughout the forecast period. The growing population, rising disposable incomes, and a transition from traditional markets to the purchasing of packaged consumer goods, especially in the food and beverage segment have accelerated the market growth in the region. The food and beverage, and food delivery industry is on a significant rise in the region. The increasing demand for fresh fruits and vegetables, and meat products is generating numerous opportunities for the nano-enabled packaging industry.
The well-known companies profiled in the report include Amcor, BASF SE, Bemis, Sonoco Products, Danaflex Nano LLC, Honeywell International, Tetra Pak International S.A., DuPont Teijin Films, Chevron Phillips Chemical Company LLC, and Klöckner Pentaplast. These companies launch new products and collaborate with other leaders in the industry to innovate and launch new products to meet the increasing needs and requirements of consumers.
Polaris Market Research is a global market research and consulting company. The company specializes in providing market intelligence and in-depth business research services to its clientele spread across different enterprises. Polaris serves a diverse customer base present across the industries of healthcare, technology, and semiconductor.