Nanotechnology Packaging Market Size, Share & COVID-19 Impact Analysis, By Packaging Type (Improved Packaging, Active Packaging, and Smart or Intelligent Packaging), By End-use Industry (Food & Beverage, Personal Care & Cosmetics, Pharmaceuticals, and Others), and Regional Forecast, 2023-2030

The global nanotechnology packaging market size was valued at USD 22.83 billion in 2022 and is projected to be USD 26.13 billion in 2023 to USD 73.10 billion by 2030, exhibiting a CAGR of 15.83% during the forecast period. Asia Pacific dominated the nanotechnology packaging market with a market share of 43.28% in 2022. Moreover, the nanotechnology packaging market in the U.S. is projected to grow significantly, reaching an estimated value of USD 9.50 billion by 2032, driven by the increased technological advancements and shift towards sustainability.

Manipulating materials at the nanoscale enhances their potential in packaging. This offers benefits such as improved barrier properties, extended shelf life for products, and the creation of active and intelligent packaging solutions. Nanomaterial integration can fortify packaging materials, making them stronger and more flexible. By incorporating nanomaterials, packaging gains unique properties not present in conventional forms. Nanotechnology improves the fundamental functions of packaging, leading to enhanced, active, and intelligent packaging solutions. Traditional packaging manufacturers are exploring innovative technologies to develop packaging solutions that are smarter and more collaborative, meeting a wide range of functional requirements. Typically, organic and inorganic materials, or a combination such as nano clay, are integrated into the polymer matrix to produce packaging products with specific or targeted properties. The ability to customize and offer a wide variety of properties is fueling the growing demand for nanotechnology-based packaging.

NANOTECHNOLOGY PACKAGING MARKET TRENDS

Use of Nanomaterials in Active and Intelligent Packaging Augments Market Size

According to the United Nations, approximately 14% of the food produced globally is lost between harvest and retail due to inadequate storage, packaging, and transport. To address this issue, technologies aiming to reduce waste and enhance product safety have become crucial. Strategies such as real-time quality monitoring, such as time-temperature indicators (TTI), and the development of active and functional materials to extend product shelf life, including antimicrobial active packaging, are vital. The unique properties of nanomaterials, such as antimicrobial attributes, solubility, diffusivity, and optical features, have garnered attention from scientists and manufacturers. They are being employed in the active packaging segment and intelligent packaging segment to maintain or improve food quality. Nanomaterials also serve as signal generators and sensing elements in smart packaging, such as freshness indicators. Each of these types of nanotechnology packaging plays a pivotal role in adding both economic and environmental value to the supply chains in which they are utilized.

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COVID-19 IMPACT

Growing Usage of Antiviral Nanocoatings as a Countermeasure Boosted Market Growth

The COVID-19 pandemic significantly impacted the global market. Initially, disruptions in the supply chain affected the availability of nanomaterials and components, leading to slowed production and innovation in nanotechnology packaging. However, the pandemic underscored the need for advanced packaging technologies that offer resilient antimicrobial action against bacteria and viruses, creating a self-cleaning effect. This heightened awareness resulted in increased interest in nanotechnology packaging, driving escalated R&D activities, particularly in developing new antiviral coatings to combat COVID-19. International research institutions, such as the WHO, played a significant role in supporting the nanotechnology packaging market growth by issuing a 'global guidance framework for the responsible use of life sciences' post-pandemic. The increased utilization of nanomaterials in packaging solutions worldwide is expected to propel rapid industry growth in the post-pandemic era.

GROWTH FACTORS

Rapidly Growing Popularity of Nanocomposites and Nanosensors to Drive Market Growth

Nanocomposites are highly regarded for their ability to enhance the mechanical and barrier properties of polymers. They improve elasticity, gas barrier characteristics, and the stability of packaging products. Nanotechnology in packaging provides dynamic feedback on the actual quality of packaged food and acts as a safeguard against contaminants. Nanotechnology-based indicators or sensors are integrated into the packaging matrix, where they interact with internal and external factors, enabling continuous monitoring of the quality of packaged goods. Features such as improved, smart, intelligent, and active packaging can extend the shelf life of products. Additionally, nanosensors can be applied as labels or coatings to add intelligent functionality to packaging solutions. These sensors, often directly incorporated into the matrix of packaging materials, can detect, measure, and transmit information about various parameters such as temperature, humidity, gas concentration, and even the freshness of perishable goods. The data collected by these sensors can be transmitted in real-time to manufacturers, distributors, or consumers, ensuring a smooth flow in the value chain.

Interactive Medicine Packaging Demand to Fuel Market Growth

The demand for nanotechnology-enabled pharmaceutical packaging is increasing due to its improved barrier properties and superior functionality in packaging. Nanomaterials play a crucial role in protecting drugs from environmental factors such as oxygen, light, and moisture, thereby enhancing their shelf life and preserving their effectiveness. Nanoparticles can be engineered to release drugs in a controlled manner, enabling precise dosing and targeted therapies. Through Nano encapsulation, active pharmaceutical ingredients are encapsulated in nanoscale structures, safeguarding them from degradation and ensuring efficient delivery to specific sites in the body. Nanotechnology-based packaging also contributes to reducing material usage and waste, fostering environmentally friendly practices in the pharmaceutical packaging industry. These advancements underscore the essential role of nanotechnology in enhancing the efficiency, effectiveness, and patient-centeredness of pharmaceutical packaging.

RESTRAINING FACTORS

Scrutiny Around Usage of Diffused Nanomaterials in Packaging of Food Products to Hamper the Market Growth

The examination of nanotechnology in packaging arises from the potential risks associated with nanoparticles migrating from packaging materials into food. These particles might exhibit different properties compared to their counterparts, potentially leading to unforeseen health and environmental consequences. Consequently, regulatory agencies and researchers are focused on comprehending the interactions between nanoparticles and food, assessing their safety, and establishing guidelines to ensure consumer protection and environmental sustainability. These factors could potentially decelerate the market's growth.

NANOTECHNOLOGY PACKAGING MARKET SEGMENTATION ANALYSIS

By Packaging Type Analysis

Improved Packaging Leads with Enhanced Mechanical, Barrier, and Resistance Properties

Based on packaging type, this market is segmented into improved packaging, active packaging, and smart or intelligent packaging. Improved packaging segment holds the largest nanotechnology packaging market share and is projected to multiply during the forecast period. It involves integrating functional nanomaterials into the polymer matrix of packaging products to improve mechanical and physical properties, including gas barrier capabilities, temperature and moisture resistance, and flexibility. It's a widely utilized packaging type in the nanotechnology packaging industry. Nanocoating stands as the most commonly adopted nanotechnology method for improved packaging properties. Various forms of nanomaterial coatings, such as thin layers or films, can cover the product to create a barrier against mass transfer. Furthermore, major players in the nanotechnology packaging industry focus on developing and adding enhanced packaging products to their portfolios, contributing to the increased share of this type in the market.

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By End-use Industry Analysis

Food & Beverage Segment Dominance Led by Rising Demand for Enhanced Food Preservation

Based on end-use industry, the market is classified into food & beverage, personal care & cosmetics, pharmaceuticals, and others. The food & beverage segment dominates the global nanotechnology packaging industry as an end-use sector. This industry is expected to experience the highest growth during the forecast period. Food & beverage products are often sensitive to environmental factors such as light, moisture, and extreme temperatures. Nanotechnology in food packaging, involving films, coatings, surface modification, or incorporation of nanomaterials, creates barriers to protect food items from external factors, preserving their quality and preventing spoilage. Smart or intelligent nanopackaging utilizes nanomaterials to monitor changes in the condition of packaged food during shipping or storage. Food wastage has become a serious global concern in the food and dairy industry, prompting governments and authorities worldwide to focus on improved food preservation and packaging techniques to extend the shelf life of these products. Consequently, the demand for nanotechnology packaging in the food & beverage industry is growing significantly compared to other application areas.

REGIONAL NANOTECHNOLOGY PACKAGING MARKET ANALYSIS

Based on region, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Asia Pacific holds the largest market share in the global nanotechnology packaging industry and is also the fastest-growing region. Leading countries such as Japan and China are at the forefront of manufacturing nanotechnology-enabled packaging products. This growth is propelled by the increasing demand for food safety products and pharmaceuticals, presenting lucrative opportunities for market expansion in this region.

Europe stands as the second-largest region contributing to the market. Its growth is attributed to the presence of well-established laboratories, universities, and research institutions.

North America is also a significant contributor to the market, with the U.S. taking the lead. Factors such as research & development investments, a robust startup ecosystem, sustainability trends, and a strong industrial base influence the North American packaging market.

The Middle East & Africa has witnessed significant growth due to the rising demand for nanotechnology-enabled packaging products, especially for fresh produce.

KEY INDUSTRY PLAYERS

Key Players Use Organic and Inorganic Growth Strategies to Maintain Their Position in the Market

At present, the market is highly fragmented and competitive, with the top 10 companies holding a significant market share. Key players in the industry have invested substantial resources in researching and developing various nanotechnology-enabled packaging products and technologies. Their strengths lie in safe and innovative technology development, efficient operations, strong distribution networks catering to nanotechnology packaging end-users, and diverse product portfolios. To expand their regional presence and product offerings, companies are adopting strategies such as expansion, new product development, and acquisitions.

Major players in the market include Amcor Plc, Cosmo Films, Danaflex Group, DuPont, among others. Several other industry players are dedicated to delivering advanced packaging solutions.

LIST OF KEY COMPANIES PROFILED IN NANOTECHNOLOGY PACKAGING MARKET:

• Amcor plc (Switzerland)


• Cosmo Films (India)


• Danaflex Group (Russia)


• DuPont (U.S.)


• 3M Company (U.S.)


• BASF SE (Germany)


• Avery Dennison (U.S.)


• Daikin Industries, Ltd. (Japan)


• PPG Industries, Inc. (U.S.)


• Sealed Air (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• March 2023 – Amcor, a global leader in developing and producing responsible packaging solutions, entered a joint research project agreement with Nfinite Nanotechnology Inc. to validate the usage of Nfinite’s nanocoating technology for enhancing both recyclable and compostable packaging.


• May 2022 – Avery Dennison Corporation invested over USD 63.13 million to expand its manufacturing capacity and improve factory efficiency in Europe to meet the growing demand for its label and packaging materials.


• May 2022 – Avery Dennison Corporation made substantial investments in Europe, particularly in Champs-sur-Drac and Luxembourg, aimed at enhancing factory efficiency and expanding manufacturing capacity. These strategic investments were made to address the rapidly growing demand for the company's label and active packaging materials. Key components of these investments include the establishment of a new automated warehouse and the installation of a cutting-edge, high-speed hotmelt adhesive coater.


• March 2020 – Avery Dennison acquired Smartrac's transponder business, specializing in radio frequency identification (RFID) products. Avery Dennison announced the location of its next RFID (Radio Frequency Identification) manufacturing facility in Vinhedo (SP). Furthermore, the company partnered with Impinj and NXP to develop world-class RFID tags and incorporate the latest chip technology into its packaging solutions.


• March 2020 – Aptar Food + Beverage, a worldwide leader in a broad range of premium active packaging systems and processing equipment, announced the launch of the 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       

REPORT COVERAGE

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The report provides detailed nanotechnology packaging market analysis and focuses on key aspects such as key players, competitive landscape, product/service types, market segmentation, Porter's five forces analysis, and leading applications of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the above factors, the report encompasses several factors that contributed to the market growth in recent years.

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