Nano-enabled Packaging Market Size Is Surpassing USD 78 Billion by 2033, Growing at Projected 13% CAGR
Nano-enabled Packaging market size from USD 23 Billion in 2023 to USD 78 Billion in 10 years. Rising demand for packaged food will drive the Nano-enabled Packaging market’s growth.
Newark, April 24, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 23 Billion Nano-enabled Packaging market will reach USD 78 Billion by 2033. Rapid technological advancements in the Nano-enabled Packaging and rapidly growing environmental concerns in the global market may fuel the growth of the Nano-enabled Packaging Market. The swift pace of technological progress in Nano-enabled Packaging holds the potential to fuel market growth, particularly with its expanding application in biodegradable solutions. In today’s fiercely competitive market, there’s a notable emphasis on adopting environmentally friendly practices. This trend not only presents vast opportunities but also addresses customer demands adeptly by offering dynamic solutions that minimize environmental impact over time
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Nano-enabled Packaging Market Size by Application (Food & Beverages, Pharmaceuticals, Personal Care & Cosmetics, Consumer Electronics, Others), Technology (Intelligent & Smart Packaging, Active Packaging), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033
APAC has emerged as the predominant force in the global Nano-enabled Packaging market, commanding a significant 57% share, driven by heightened food and beverage consumption in the region. With populous nations like India and China leading the pack, the demand for food and beverages remains robust. Meanwhile, North America is poised to witness the most rapid growth within the region, propelled by accelerated technological innovations in the global market landscape.
The food & beverage industry has dominated the market accounting for 45% of the total market. The food & beverage industry has dominated the market accounting for 45% of the total market. Owing to rapid technological advances in Nano-enabled packaging solutions, rising research & development expenditures, and increased shelf life of the product in the market. Whereas the pharmaceutical industry is expected to provide a lucrative growth rate in the future, owing to increased spending in the pharmaceutical industry.
Active Packaging has dominated the Nano-enabled Packaging market. Thereby acquiring 48.2% in the year 2023
Active Packaging has dominated the Nano-enabled Packaging market. Thereby acquiring 48.2% in the year 2023. Further, it is expected to be the fastest-growing in the market, owing to the increasing need for higher protection in the food & beverages industry, rising shelf life, and increased safety of the food products.
Latest Development:
• In March 2023, Amcor established a partnership agreement with Nfinite Nanotechnology Inc. The primary aim of this collaboration was to offer advanced technological alternatives to end-users and improve a range of recyclable and composite packaging solutions within the competitive market.
• In December 2021, Sealed Air Singapore experienced a significant technological breakthrough, enabling manufacturers to offer a multitude of packaging solutions to end-users. With this advancement, manufacturers are poised to not only provide dynamic solutions to end-users but also to capture a larger share of the global market.
Market Dynamics
Drivers: Rising demand for packaged food
The surge in demand for packaged food has significantly propelled the expansion of Nano-enabled Packaging in the global market. This innovative technology not only extends shelf life but also offers consumers enhanced food protection, shields against external environmental factors, and contributes to mitigating food scarcity issues.
Restraint: High costs associated with Nano-enabled Packaging
One major factor that may hamper the growth of Nano-enabled Packaging is the high costs associated with the same. Increasing raw material costs and rising operation costs have hampered the growth of the market players in the competitive market, which is an area of improvement.
Opportunity: Rapid technological advancements in Nano-enabled Packaging
The swift pace of technological progress in Nano-enabled Packaging holds the potential to fuel market growth, particularly with its expanding application in biodegradable solutions. In today’s fiercely competitive market, there’s a notable emphasis on adopting environmentally friendly practices. This trend not only presents vast opportunities but also addresses customer demands adeptly by offering dynamic solutions that minimize environmental impact over time
Challenge: Lower awareness in the Nano-enabled Packaging
Lower awareness in the Nano-enabled Packaging is one major factor that may pose a challenge in the market. With majority of the businesses and consumers not aware of the potential benefit of the same and hesitant attitude of them towards adopting the same in the market has led to limited adoption of the Nano-enabled Packaging Market in the period forecasted.
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Some of the major players operating in the Nano-enabled Packaging market are:
• Amcor
• Klockner Pentaplast
• Sealed Air
• Tetra Pak International S.A.
• Sonoco Products Co.
• CCL Industries Inc
• BASF SE
• DuPont Teijin Films
• Avery Dennison
• Checkpoint Systems Inc
Key Segments cover in the market:
By Application:
• Food & Beverages
• Pharmaceuticals
• Personal Care & Cosmetics
• Consumer Electronics
• Others
By Technology:
• Intelligent & Smart Packaging
• Active Packaging
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About the report:
The global Nano-enabled Packaging market is analysed based on value (USD trillion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter’s five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client’s objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client’s requirements whether they are looking to expand or planning to launch a new product in the global market.
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