Nano-enabled packaging is the fruit of revolution in the packaging industry. Nano-enabled packaging utilizes nano materials, with diameter less than 100 nanometers, for the manufacture of packaging materials. Nano-enabled packaging is extensively employed in food & beverage and pharmaceutical packaging and has exhibited strong acceptance in the market. It provides longer shelf life to perishable food and beverages and has been found to improve attributes such as taste, texture, color and consistency of the packaged food. It increases absorption and the bio availability of nutrients in foodstuffs.
Among the various nano particles used in this industry, nanoclay, silver and titanium nitride have the largest applications. Nanoclay is the most used material owing to its cheap availability and utility in popular thermoplastics such as polypropylene, PET, nylon and thermoplastic polyolefin. Technology can broadly classify nano-enabled packaging into active packaging, controlled release packaging and intelligent packaging. Active packaging refers to the package having functions other just protection and containment of the product. Controlled release packaging, a sub segment of active packaging, enables release of active compounds at a controlled rate over the period of storage of the food product in order to maintain its quality and nutrition quotient. Intelligent packaging has the ability to sense alteration in packaging environment and communicate the same. It can indicate the quality of the packaged product through intelligent sensors. By applications the market can be segmented into pharmaceutical, beverages, bakery products, meat products, fruits and vegetables and prepared food.
As per WiseGuy Reports, the Nano- enabled packaging is estimated at US$8.2 bln in 2016 and is expected to reach US$19.82 bln by 2022 growing at a CAGR of 13.3% from 2015 to 2022. Nano-Enabled packaging finds application in Personal care & cosmetics, Food & beverages, Pharmaceuticals, Prepared foods, Bakery products, Meat products, Fruit and vegetables. The global market is driven by increasing shelf life of the food, convenience and increase in demand for packaged food. Low awareness among the users is hampering the market growth. Active packaging technology holds the largest share in technology segment and smart packaging segment is expected to grow at a faster CAGR during the forecast period. Asia Pacific region accounted for the largest share followed by North America. The growth in Asia pacific region is due to availability of raw material and increasing usage across the industries. India, China and Japan are the prominent countries in Asia Pacific region showing healthy growth. Owing to favourable regulations, North America region holds the second position.
As per Grand View Research, the global nano-enabled packaging market size was US$23.73 bln in 2015 and is expected to witness significant growth to reach US$66.30 bln by 2024. Favorable regulations implemented by the FDA concerning manufacturing of packaging materials that can retain the freshness and enhance the shelf life of the product is expected to escalate future market growth. Increasing demand for pharmaceuticals, personal care, cosmetics, beverages, meat products, vegetables, and ready-to-go meals is projected to boost nano-enabled packaging demand over the forecast period. The key drivers impacting the demand growth include favorable food safety regulations and increasing demand for effective packaging solutions in the food & beverage and pharmaceutical sector. Nanotechnology is one of the most rapidly growing industries which is contributing to the growth of several industries; one such industry is the packaging industry. Increasing usage of nano-enabled packaging in the bakery, meat, fruit & vegetable, and other processed food product are anticipated to boost demand from 2016 to 2024. Asia Pacific is expected to grow at the highest CAGR over the forecast period to occupy the largest share by 2024, amid increasing consumption of ready-to-go meals and changing demographic in China and Japan. Significant investments made in the development of nano-enabled packaging solutions are anticipated to boost the market demand over the coming years. Increasing demand for packaging solutions that can enhance shelf life, maintain product quality and are trackable is expected to augment food & beverage industry application. Rising investments in research & development activities is expected to spur the demand in the pharmaceutical and personal care market.
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