NEWARK, Del, May 02, 2023 (GLOBE NEWSWIRE) -- The nanotechnology packaging market is anticipated to expand significantly in the coming years, with a projected value of US$ 17,210.0 Million in 2023 rising to US$ 87,412.0 Million by 2033. This growth is driven by various factors, including the continual breakthroughs in nanomaterials and packaging technology that offer countless opportunities for innovation and expansion.
One of the most promising areas for nanotechnology packaging is its potential to revolutionize industries such as food, pharmaceuticals, and electronics. Another important trend in the future of nanotechnology packaging is the development of sustainable and eco-friendly packaging solutions.
Nanotechnology has the potential to play a key role in the development of biodegradable, recyclable, and renewable packaging materials.
For instance, scientists are investigating the use of nanocellulose as a sustainable packaging material capable of replacing plastic and reducing waste.
Smart packaging is another development in the future of nanotechnology packaging. Nanotechnology can enable the development of nanosensors and nanomaterials for smart packaging that can give real-time monitoring and data analysis. To ensure the safe and appropriate use of nanotechnology in packaging, continual research and development is required.
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The active packaging industry is anticipated to be worth $22.8 Billion by 2025, driven by factors such as expanding demand for convenience foods and ready-to-eat meals, growing awareness about food safety and quality, and technological breakthroughs in packaging materials and technologies.
Controlled release packaging is another important segment recording a CAGR of 6.6% in the nanotechnology packaging market. The growth in this market is driven by factors such as increasing demand for functional and innovative packaging solutions, rising awareness about food safety and quality, and advancements in nanotechnology and materials science.
From 2020 to 2026, the food and beverage segment is predicted to increase at a 14.1% CAGR. This growth is driven by factors such as:
- Increased packaged and processed food demand.
- Rising consumer awareness about food safety and quality.
- Technological breakthroughs in packaging materials and technologies.
The pharmaceutical segment is anticipated to be worth US$ 10.9 Billion by 2025, driven by factors such as the rising need for new drug delivery systems, increased knowledge about drug safety and quality, and breakthroughs in nanotechnology and materials science.
The nanotechnology packaging market in North America was valued at US$ 5.96 Billion in 2020, with an expected growth rate of 12.3% from 2021 to 2026. This growth is fueled by the need for sustainable packaging, increased research and development, and the abundance of packaging manufacturers in the region.
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Europe’s nanotechnology packaging market is also anticipated to expand at a CAGR of 11.6% from 2021 to 2026. Germany is a significant market in Europe for nanotechnology packaging, with a growing demand for sustainable and eco-friendly packaging solutions.
Competitive Landscape:
The nanotechnology packaging industry is becoming fragmented as firms focus on transitioning toward nano packaging due to its significant advantages for end-user packaging. The majority of players are still focused on traditional packaging, but different acquisitions, collaborations, and new inventive technologies are transforming the market into a competitive one.
Nov 2019 - The NanoPack Project, which is funded by the EU, conducted a series of antimicrobial efficacy tests on its novel film to demonstrate its capacity to extend shelf life. During the testing, NanoPack's film demonstrated the ability to increase the shelf life of perishable commodities such as bread, cherries, and yellow cheese, even though the film is based on a combination of natural nanomaterials and essential oils to improve food safety and reduce waste.
Key Companies Profiled:
Amcor Limited, 3M Company, Bemis Company, Inc., Chevron Phillips Chemical Company LLC, and Honeywell International Inc.
Key Segments Covered in the Nanotechnology Packaging Market Report
Packaging Type Outlook:
- Active Packaging
- Controlled Release Packaging
- Intelligent Packaging
Application Outlook:
- Food & Beverages
- Pharmaceutical
- Personal Care & Cosmetics
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
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Table of Content (ToC):
1. Executive Summary | Nanotechnology Packaging Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario (TOC Continue...)
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FMCG Packaging Market Analysis: The global FMCG packaging market is expected to reach US$ 418.8 Billion in 2022, with sales growing at a CAGR of 5.7% through 2032. As per the report, rigid packaging is the most preferred type for FMCG packaging, accounting for almost 63.2% of the global FMCG market by 2032. With a favourable demand outlook, the market size is projected to top US$ 726.6 Billion in 2032.
Beverage Packaging Market Outlook: The global beverage packaging market is expected to secure US$ 156.7 Billion in 2032 while expanding at a CAGR of 4.1%. The market is likely to hold a value of US$ 104.8 Billion in 2022.
Flexible Packaging Paper Market Share: The flexible packaging paper market is on track to grow at an estimated CAGR of 4% during 2022 to 2032. Paper film packaging of items produced by manufacturing industries as well as household objects has emerged as the eco-friendly alternative of the plastic packaging and is here to stay. Flexible packaging paper is mainly used for packaging of several food items such as confectioneries, snacks, coffee, sugar, etc.
Packaging Automation Market Demand: The global packaging automation market is projected to register at a moderate-paced CAGR of 8.05% over the forecast period. The packaging automation market is currently valued at US$ 74.53 Billion in 2023. By 2033, demand for Packaging Automation is expected to reach a high of US$ 161.66 Billion.
Packaging Tapes Market Forecast: The global packaging tapes market is set to enjoy a market valuation of US$ 71.7 Billion in 2021, and register a CAGR of 4.8% % to reach US$ 120.1 Billion by 2032. The packaging tapes market revenues are estimated to propel with the top 3 countries projected to hold 30 to 35 % of the global packaging tapes market by the end of 2022.
Packaging Bins Market Size: The Global sales of packaging bins stood at around US$ 1.9 Bn in 2021 and is slated to increase at a CAGR of 4.4% to reach a valuation of US$ 3.0 Bn by 2032.
Packaging Laminates Market Sales: The packaging laminates market size is projected to be valued at US$ 6,274.7 Million in 2022 and is expected to rise to US$ 10,410.2 Million by 2033. The sales of packaging laminates are expected to grow at a significant CAGR of 5.1% during the forecast period.
Packaging Jars Market Growth: The global packaging jars market is projected to have a moderate-paced CAGR of 2.9% during the forecast period. The current valuation of the market is US$ 33,040.4 Million in 2022. The market value of the packaging jars market is anticipated to reach a value of US$ 43,974.3 Million by the year 2032.
Packaging Foam Market Value: The global packaging foam market was valued at US$ 6.6 Bn in 2022 and is projected to record a CAGR of 5.7% during the review period from 2022 to 2026.
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