Global nano-enabled packaging market to reach US$15.0 billion by 2020
Persistence Market Research (persistencemarketresearch.com) has released a new report about the global nano-enabled packaging market. The report, titled ‘Global Market Study on Nano-Enabled Packaging For Food and Beverages: Intelligent Packaging to Witness Highest Growth by 2020’, predicts that the nano-enabled packaging market will enjoy a healthy CAGR of 12.7% during the report’s forecast period of 2014-2020, and will expand from its 2013 market value of US$6.5 billion to US$15 billion in 2020.
The report analyzes the global nano-enabled packaging market according to three criteria. According to the type of technology, the nano-enabled packaging market is divided into two categories: active packaging and intelligent packaging. The former has a larger 2013 market share but the latter is expected to enjoy a higher growth rate due to the increasing demand for fresh foods and higher number of legislative restrictions on active packaging.
Six applications have major shares in the nano-enabled packaging market, viz. bakery products, beverages, meat products, fresh fruits and vegetables, prepared foods, and others. Beverages, meat products, and fresh and prepared foods are rapidly expanding categories expected to leave the segment of bakery products behind.
The report looks into four regional submarkets for nano-enabled packaging: North America, Europe, Asia Pacific, and Rest of World. Increasing research into the nascent field of nanotechnology is expected to drive the nano-enabled packaging market. Increasing globalization means that the transport of consumables around the world will be a rapidly growing industry in the coming years. This will aid nano-enabled packaging, which aims to keep packaged food fresh for longer periods of time than conventional packaging. Tetra Pak International S.A., Chevron Phillips Chemical Company, L.L.C., Amcor Limited, and Sealed Air are some of the major players in a highly competitive and fragmented nano-enabled packaging market.