Global Nano-enabled Packaging Market to Gain Impetus due to Rising Demand from Food and Beverages Industry
Published On : Feb 03, 2016
Nano-enabled packaging for food and beverages has been drawing immense popularity in the global arena, thanks to the safety and hygiene it offers to food products by curbing microbial development, impeding oxidation, and improving tamper visibility.
In 2013, the worldwide nano-enabled packaging for food and beverages market stood at a value of US$6.5 bn. It is estimated to rise at a healthy CAGR of 12.70% between 2014 and 2020 and reach a value of US$15 bn by the end of 2020.
Intelligent Packaging Technology to be Propelled by Increasing Demand
Active packaging technology and intelligent packaging technology are the two main nano-enabled packaging technologies applied for food and beverages packaging. Major international food and beverages suppliers are giving preference to intelligent packaging technology over active packaging technology, as consumers are mostly drawn towards noticeable packaging, which provides information about the product.
The increasing demand for intelligent packaging for food and beverages, specifically for fruits, is propelling the application of intelligent packaging technology in the food and beverages industry to a great extent.
Market experts projected the intelligent packaging technology segment to reach US$2,752 mn by 2015 in terms of revenue. The active packaging technology segment stood at US$3,547 mn in 2011.
Increased Demand for Food and Beverages Products Stimulates Nano-enabled Packaging Application in Food and Beverages Industry
Bakery products, beverages, meat products, fruit and vegetables, and ready-made food are the prime application areas for nano-enabled packaging for food and beverages. The increasing need for food and beverage products across the world has stimulated the application of nano-enabled packaging in the food and beverages industry significantly and the trend is projected to continue in the forthcoming years.
Historically, the nano-enabled packaging market for beverages stood at a value of US$1,006.8 mn in 2010. The revenue generated from the nano-enabled packaging markets for meat products and other food items reached US$1,377.3 mn and US$269.9 mn in 2011, respectively and the other food items segment is expected to reach US$672.4 mn by 2020.
Analysts also estimated the nano-enabled packaging market for fruits and vegetables to reach US$1,047 mn by the end of 2015 from a total of US$750 mn in 2012. The nano-enabled packaging market for ready-made food is likely to reach US$975 mn by 2017.
Asia Pacific: Leading Regional Market for Nano-enabled Packaging for Food and Beverages
Asia Pacific, North America, Europe, and the Rest of the World are the key regional markets for nano-enabled food and beverages packaging, among which, Asia Pacific has occupied the leading position at present. In Asia Pacific, Japan has emerged as the largest market for nano-enabled packaging for food and beverages.
The nano-enabled packaging markets for food and beverages in North America and Europe are also anticipated to maintain a steady growth rate over the next few years.
The global nano-enabled packaging market for food and beverages is highly fragmented and extremely competitive. Sonoco Products Co., Sealed Air Corp., Klöckner Pentaplast Group, BASF SE, Chevron Phillips Chemical Co. LLC, Bemis Co. Inc., Tetra Pak International S.A., Honeywell International Inc., DuPont Teijin Films, and Amcor Ltd. are some of the key players operating in this market.
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