PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515555
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515555
Nano-enabled Packaging Market size was valued at USD 44,258.2 Million in 2023, expanding at a CAGR of 10.60% from 2024 to 2032.
Nano-enabled Nano-based packaging is used in a variety of end-user sectors to protect internal products from exterior forces. This method not only extends the product's shelf life but also maintains its texture, color, and taste.
Nano-enabled Packaging Market- Market Dynamics
Growing Demand for Pharmaceuticals
Nanotechnology in pharmaceutical packaging prevents items from being disseminated outside of their intended market and allows brand owners to watch where distributors send their products. This helps to prevent the emergence of an illicit market for medications. Increased investment in the pharmaceutical industry would boost market growth for nano-enabled packaging. For instance, in May 2020, Danaflex Nano LLC introduced packaging materials for COVID test strips, antiseptics, and other personal medical devices.
Nano-enabled Packaging Market- Key Insights
Our research analyst estimates that the global market will develop at a CAGR of approximately 10.60% from 2024 to 2032.
Based on Type segmentation, the Active packaging sector accounted for the biggest revenue share in 2023.
Based on End-user segmentation, in 2023, the Food and beverage sector will dominate the market.
On the basis of region, Asia Pacific was the leading revenue generator in 2023
The Global Nano-enabled Packaging Market is segmented on the basis of Type, End User, and Region.
The market is divided into three categories based on Type: Active Packaging, Intelligent Packaging, and Others. Active packaging is one of the most prevalent manufacturing technologies in 2023. Active nano-enabled packaging protects against external impacts by utilizing nanoparticles. This method employs technologies such as oxygen scavengers, water vapor removers, carbon dioxide producers, ethylene removers, and ethanol releasers. This technology is expected to meet the demands of both the food and beverage industry and the pharmaceutical industry.
The market is divided into five categories based on End Users: Food & Beverages, Pharmaceuticals, Cosmetics, Consumer Electronics, and Others. Food and beverage will be the leading application segment in 2023. Nano-enabled packaging can provide a barrier to light, UV rays, and moisture, thereby preserving the quality or nutritional advantages of food goods. It also provides durability, stability, and safety, as well as the capacity to extend product shelf life. This packaging is primarily suitable for processed foods that spoil quickly.
Nano-enabled Packaging Market- Geographical Insights
Geographically, this market is present in North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These zones are further split based on which countries bring business. In 2023, Asia Pacific is the dominant region in the worldwide nano-enabled packaging industry. The growing demand for clever packaging in pharmaceutical manufacturing propels market expansion in Asia Pacific. Furthermore, the increasing food, beverage, and pharmaceutical industries in Japan, India, and China help to drive regional growth.
North America is the second-largest region and is expected to expand rapidly. The easy availability of raw materials, the existence of important manufacturers, and the growing demand for processed foods and meat products all contribute to the growth of the nano-enabled packaging market in North America.
In the competitive nano-enabled packaging industry, several players are striving for market dominance by providing new packaging solutions based on nanotechnology. Key businesses like as Amcor, Bemis Company, Inc., Tetra Pak, and Sealed Air Corporation are actively developing new nano-enabled packaging materials to improve product protection, shelf life, and sustainability. To stay competitive, these organizations introduce cutting-edge technologies, invest in R&D, and build strategic collaborations.
In March 2023, Amcor signed a collaboration arrangement with Nfinite Nanotechnology Inc. The fundamental goal of this collaboration was to provide innovative technological options to end users and develop a variety of recyclable and composite packaging solutions in a competitive market.
GLOBAL NANO-ENABLED PACKAGING MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Bemis company Inc.
Amcor Limited
Sonoco Products Company
Tetra Pak
BASF SE
The 3M Company
Klockner Pentaplast Ltd
Honeywell International, Inc
Sealed Air Corporation
Chevron Phillips Chemical Company LLC
Others