Advancements in the nano-technology are fueling the growth of the nano-enables packaging market in the food and beverage sector. The exploding market for packaged food backed by demand for packaged fresh food acts as a major growth determinant in the market. Shelf-stable packaging has emerged as a sought after product amongst the manufacturers and retailers, creating a spike in the demand for nano-enabled smart packaging. The safety and traceability offered by such packagings are primarily attracting the consumers towards it. A rise in food-led export activities is also escalating the sale of these packagings which in turn accounts to significant market revenue.
The Asia Pacific is projected to contribute about half of the revenue in the global market. North America, led by the US is expected to obtain a significant position in the global market soon. Such developments are in light of the growing preference for fresh food over the available junk in the region. Besides this growth, the high demand for intelligent packaging in fruit trade also accounts for the growing market in America. Established players in the global nano-enabled packaging market include Chevron Phillips Chemical Company, Chevron Phillips Chemical Company, L.L.C., Klöckner Pentaplast, Tetra Pak International S.A., and Sealed Air.
The advent of nanotechnology has given rise to a wide range of nano-enabled applications, including nano-enabled packaging for food and beverages. This packaging is being increasingly considered ideal for perishable products, such as fresh vegetables, fruits, fish, and meat products. The global nano-enabled packaging for food and beverages market attained revenues worth US$ 6.5 Bn in 2013. The market is estimated at a value worth US$ 15.0 Bn by the end of 2020, expanding at a CAGR of 12.7% over 2014-2020.
Key Market Dynamics
Advances in the world of nanotechnology will continue to fuel the growth of the global nano-enabled packaging for food and beverages market growth. With exploding packaged food market, the demand for fresh packaged food is also propelling since the past few years. This has been a primary factor fueling the demand for advanced packaging techniques, such as nano-enabled packaging. The introduction of innovative applications to the packaging industry is expected to boost the nano-enabled packaging market for food and beverages. Manufacturers and retailers are also increasingly seeking shelf-stable packaging, which will eventually create the proliferated demand for nano-enabled, especially intelligent packaging. In addition, this packaging is safer and traceable, which is expected to compel consumers to prefer it over other available packages in the market. Moreover, immense growth of the food and beverages sector will continue to raise the demand for novel packaging techniques, such as nano-enabled packaging. Rising food-led export activities are expected to be another key factor driving the growth of the market.
Although nano-enabled packaging technology is gaining decent traction in the food and beverages industry, the revenue share of the nano-enabled packaging market for food and beverages is merely 3-4% of the total revenues of the food and beverages industry. Several companies offer nano-enabled packaging solutions but the buyers’ cluster is limited, which prompts at the untapped scope for the market growth.
The global nano-enabled packaging for food and beverages market is segmented on the basis of technology into active packaging and intelligent packaging. Although the active packaging segment is projected to remain dominant throughout the forecast period, the intelligent packaging segment is foreseen to be the fastest growing one, accounting for substantially increased revenues by 2020 end. By application, the global nano-enabled packaging market for food and beverages is segmented into fruits and vegetables, beverages, prepared foods, meat products, bakery, and others. Burgeoning demand for fresh fruits and vegetables is anticipated to boost the market for nano-enabled packaging for fruits and vegetables. Meat products consumption levels are quite high across the globe, and especially in the U.S. and India. These two regions will witness a spurt in the nano-enabled packaging market for meat products. Another major segment will be of prepared foods. While developed nations have been purchasing prepared food packages since years, developed countries are also witnessing a growing trend of prepared food. This is anticipated to fuel the market in developing regions. The bakery segment will however register slight decline over the forecast period.
Asia Pacific, led by Japan, will continue to dominate the active packaging segment with nearly 50% of the revenue share of the global nano-enabled packaging market. Whereas, North America, especially the U.S. will be a key market for intelligent packaging segment. The FDA’s Food Safety and Modernization Act (FSMA - 2011) will remain a key booster for intelligent packaging market across the U.S. Owing to several stringent regulations associated with active packaging, the intelligent packaging market is estimated to gain higher traction across North America and Europe. North America has been an early adopter and a major market for intelligent packaging. With a growing number of Americans shifting their breakfast menus from junk food to fresh foods, the market for intelligent packaging is gaining a strong impetus, which is expected to continue over the forecast period. In addition, growing demand for intelligent packaging in international fruit trade is likely to present highly lucrative opportunities throughout the forecast period.
Key Market Players
A few key players operating in the global nano-enabled packaging market for food and beverages, are Amcor Limited, Bemis Company, Inc., Chevron Phillips Chemical Company, L.L.C., Klöckner Pentaplast, Sealed Air, and Tetra Pak International S.A.
Persistence Market Research recently published a report on the global nano-enabled packaging for food and beverages market. The report examines the global market for nano-enabled packaging specifically for food and beverages, with an extensive assessment of key drivers, restraints, trends, and growth opportunities for the six-year forecast period, 2014-2020. Growing demand for fresh fruits, vegetables, and meat products, coupled with the advent of nanotechnology, is predominantly driving the market for nano-enabled packaging.
The report starts with a brief overview of the nano-enabled packaging technology and the overall status of the global market. This section offers data on the market size, revenues, growth rates, yearly growth pattern, and overall growth prospects for the forecast period. In the next section of drivers, the report differentiates high-impact and low-impact drivers influencing the market growth during the forecast period. The following part of the report elaborates key restraints that are expected to hamper the market growth. The report also provides an in-depth examination of important trends and opportunities in the market in order to highlight the potential growth opportunities.
To allow detailed understanding of the overall market dynamics and product consumption pattern, the global nano-enabled packaging for food and beverages market report provides different segments on the basis of surgery procedure and device type. The section covers an extensive analysis of all the key segments and sub-segments, offering critical insights into the largest and fastest growing segments over the forecast period. This is followed by a section that includes market analysis based on the geographical region. Along with detailed examination of each of the regional markets, the report offers growth prospects and underlying opportunities in each of them.
The last part of the report focuses on an extensive analysis of the competitive landscape, governing the global nano-enabled packaging for food and beverages market. This section profiles all the key companies competing in the markets, along with their strengths and growth patterns. Strategic mergers and acquisitions among key companies also form an important part of this section of the report.
To deduce the global nano-enabled packaging for food and beverages market size, the report considers various aspects based on secondary research. Furthermore, key data points such as region-wise split and market split by product type, vehicle type, and distribution channel; and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated and expected revenue contribution in the global nano-enabled packaging for food and beverages market.
The report begins with sizing the market in terms of value and volume for the base year, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, gathered data is triangulated via different analysis based on supply side and demand side drivers and other key dynamics of the global nano-enabled packaging for food and beverages market. To develop the market forecast, Persistence Market Research has also conducted a factor analysis to understand the impact of various forces/factors on the target market. The report provides forecasts not only in terms of CAGR but also presents a detailed analysis based on key parameters such as Year-on-Year (Y-o-Y) growth to understand market predictability and to identify the right opportunities.
Another key feature of this report is an analysis of the global nano-enabled packaging for food and beverages market and the corresponding revenue forecast in terms of absolute dollar opportunity, usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global nano-enabled packaging for food and beverages market. Further, to understand key segments in terms of their growth and overall global nano-enabled packaging for food and beverages market performance, Persistence Market Research has developed a market attractiveness index to help providers identify existing market opportunities in the global nano-enabled packaging for food and beverages market.
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