The global nanotechnologypackaging market size was valued at USD 22.83 billion in 2022. The market isanticipated to expand from USD 26.13 billion in 2023 to USD 73.10 billion in 2030, exhibiting aCAGR of 15.83 % over the estimated period.
Nanotechnology-basedpackaging, often referred to as nano packaging, is a specialized field of
packaging technology that utilizes nanomaterials and nanoscale engineering
techniques to develop packaging solutions with unique and advanced
characteristics. The market is expected to gain grip due to an increasing focus
on sustainable packaging solutions to reduce waste and enhance recyclability.
Fortune Business Insights™ provides this information in its research report, titled “NanotechnologyPackaging Market, 2023-2030”.
Source:
COVID-19 Impact:
IncreasedDemand for Products with Antimicrobial Properties Propelled Market Growth
Thepandemic highlighted the critical need for packaging with resilient
antimicrobial properties. Consumers and industries sought packaging solutions
that could help reduce the risk of bacterial and viral contamination, thus
creating a self-cleaning effect. This increased awareness drove the demand for
nanotechnology packaging amid COVID-19 pandemic.
Segmentation:
ImprovedPackaging Segment to Dominate Due to Widespread Adoption of Nanocoating
In terms of packagingtype, the market is divided into smart or intelligent packaging, improved
packaging, and active packaging. The improved packaging segment is poised to
lead the nanotechnology packaging sector. This is driven by its ability to
provide effective barriers against mass transfer with thin nanomaterial layers.
Report Coverage:
The report gives a comprehensive analysis of theleading factors favoring the industry growth over the coming years. It focuses on key aspects such as producttype, modality, and leading companies. The report further provides insight into the majortrends boosting the global business scenario. The impact of the COVID-19
pandemic on market growth is also included in the report.
Drivers and Restraints:
Surging Popularity forNanocomposites in Packaging to Spur Market Growth
The ability ofnanocomposites to incorporate nanoscale features into packaging materials has
led to the development of enhanced packaging solutions. These solutions have
improved the mechanical and barrier properties of polymers, making packaging
more effective in preserving the quality and freshness of products, which, in
turn, drives market growth.
However, concernsabout the potential risks associated with nanoparticles migrating from
packaging materials into food can hinder nanotechnology packaging market
growth.
Regional Insights:
Asia Pacific to Emerge as Key Region Owing to Rising Demand for Pharmaceutical Products
Asia Pacific is likelyto hold a prominent position in the market by holding a significant
nanotechnology packaging market share. The region’s growth is attributed to the
rising demand for pharmaceutical and food safety products.
The growth of themarket in Europe is attributed to its well-established laboratories,
universities, and research institutions. These research facilities contribute
to innovation and development in the field, supporting market expansion.
Competitive Landscape:
Key Players Strike Partnership Deals to Increase their Product Portfolio
Prominent playersoperating in the nanotechnologypackaging market have adopted various strategies such as mergers,collaborations, and partnerships with an aim to expand their customer base. Additional steps include research initiatives,launch of new products, and R&D initiatives.
