Nano-enabled Packaging Market Size, Share, & COVID-19 Impact Analysis, By Technology (Intelligent & Smart Packaging and Active Packaging), By Application (Food & Beverages, Pharmaceuticals, Personal Care & Cosmetics, Consumer Electronics, and Others), and Regional Forecast, 2024-2032

Nano-enabled packaging uses nanomaterials with diameters less than 100 nanometers to develop efficient packaging solutions. Nano-enabled packaging is gaining traction among food & beverage, and pharmaceutical industries as it controls the material's moisture, pH, temperature, and freshness, provides accurate information for consumers, and boosts the product's shelf life. Nano-enabled packaging is also experiencing huge demand due to the changing consumption patterns among consumers. It effectively provides a barrier from UV rays and light, which further retains the quality & nutritional benefits of foods. Growing demand for nano-enabled packaging for processed foods which tend to perish quickly is estimated to boost the market growth. The continuous investments and government initiatives to implement nanotechnologies in several applications will generate profitable growth opportunities in the projected timeframe.

• For instance, the National Nanotechnology Initiative (NNI) released a supplement to the president in the 2019 Budget. It revealed that the progressive funding for the initiative since 2001 has increased to almost USD 27 billion. The National Nanotechnology Initiative is an imperative research and development initiative that offers a framework to coordinate nanoscale research.

The consumer shift toward hygienic food, coupled with the rising digitalization of food records, are the major factors thriving the market growth. Fresh fruits, vegetables, and meat consumption rapidly increases in several countries worldwide. Such foods require effective packaging to maintain their quality, prevent harm from external factors, and improve shelf life for further use, which in turn, encourages the manufacturers to use nano-enabled packaging. Nanoparticles such as nano clay, titanium, and silver, along with intelligent packaging solutions such as RFID and barcodes, make the packaging more convenient for consumers. The growing pharmaceutical industry is boosting the demand for nano-enabled packaging in its products, such as films and blisters, as it protects the drugs from air, moisture, and light. Such factors altogether are driving the growth of the nano-enabled packaging market worldwide.

The expensive initial costs of the raw materials required for nano-enabled packaging are the major factors restraining the market growth. The high initial costs further lead to high final product costs, thus limiting its demand among small countries. Moreover, the excessive usage of nanoparticles may also cause toxic effects, which is thus expected to hinder the nano-enabled packaging market growth globally.

IMPACT OF COVID-19 ON THE NANO-ENABLED PACKAGING MARKET

The outbreak of COVID-19 harmed varied end-use industries worldwide. The rapid coronavirus spread, coupled with the lockdowns & shutdowns imposed by the government, inhibited the growth of the nano-enabled packaging market globally. The decline in food service sales also led to a reduction in demand for nano-enabled packaging. For instance, according to the International Foodservice Distributors Association, the food service industry, which accounted for USD 300 billion, experienced a decline in sales of about 60% to 90% during the mid-pandemic phase. However, the market is projected to flourish with rising consumer awareness regarding food safety and health issues associated. Moreover, the growing pharmaceutical industries will also thrive in the market’s growth.

SEGMENTATION

KEY INSIGHTS

The report will cover the following key insights:

• Recent Advancements in the Nano-enabled Packaging Market


• Key Industry Trends


• Regulatory Landscape for the Nano-enabled Packaging Market


• Key Industry Developments (Mergers, Acquisitions, and Partnerships)


• Impact of COVID-19 on the Market

ANALYSIS BY TECHNOLOGY

Based on technology, the market is segmented into intelligent & smart packaging and active packaging. Active packaging is the leading technology segment of the global nano-enabled packaging market. The active technology utilizes nanoparticles to offer product protection against harmful external substances. Using oxygen scavengers, ethylene removers, ethanol releasers, and carbon dioxide producers in the production of packaging material boosts the shelf life of products and maintains the food quality. Several nanomaterials, such as carbon nanotubes, nano-copper oxide, nano-titanium dioxide, nano magnesium oxide, and nano silver, are beneficial in providing antimicrobial properties, which drive segmental growth.

ANALYSIS BY APPLICATION

Based on application, the market is segmented into food & beverages, pharmaceuticals, personal care & cosmetics, consumer electronics, and others. Food & beverage holds the largest application share and is projected to attain crucial demand in the forthcoming years. Utilizing nanotechnology in food packaging helps enhance the flavor & texture, reduce fat contents, encapsulate nutrients, and boost shelf life. The enabled nano-sensors provide consumers the condition of the food inside the packaging. The augmenting demand for such packaging solutions from the food & beverage industries is thus propelling the segment’s growth.

REGIONAL ANALYSIS

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The nano-enabled packaging market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is the dominating region of the global nano-enabled packaging market. The increasing demand for intelligent packaging for pharmaceutical manufacturing drives market growth in the Asia Pacific. Moreover, the growing food & beverage & pharmaceutical industries in Japan, India, and China contribute to regional growth. North America is the second-largest region and is forecasted to grow significantly. The ease in availability of raw materials, the presence of key manufacturers, and the growing demand for processed foods & meat products bolster the nano-enabled packaging market in North America. The introduction of the Actipack project in Europe, which uses active packaging technology to develop mold-free foods & expand their shelf life, is enhancing the nano-enabled packaging market demand in the European region. Augmenting consumer demand for convenient packaging of foods and rising health concerns in Latin America are boosting market growth. The Middle East & Africa region is projected to experience steady growth due to the rising healthcare industry.

KEY PLAYERS COVERED

The report will include profiles of key players such as Amcor, Klöckner Pentaplast, Sealed Air, Tetra Pak International S.A., Sonoco Products Company, CCL Industries Inc., BASF SE, DuPont Teijin Films, Avery Dennison, Checkpoint Systems, Inc., among others.

KEY INDUSTRY DEVELOPMENTS:

• March 2023 - A global leader manufacturing responsible packaging solutions, Amcor, declared a joint research project agreement with Nfinite Nanotechnology Inc. The agreement is piloted to validate the use of Nfinite's nanocoating technology and to improve both the recyclable & compostable packaging solutions of Amcor.


• March 2020 - Aptar Food + Beverage, a worldwide leader in a broad range of premium active packaging systems & processing equipment, announced the launch of InvisiShield platform technology. It is an anti-pathogenic packaging solution impeccably integrated into sealed packages, protecting fresh-cut produce from harmful pathogens such as bacteria, viruses, and fungi.