The global nanotechnology packaging market size was valued at USD 22.83 billion in 2022. The market is anticipated to expand from USD 26.13 billion in 2023 to USD 73.10 billion in 2030, exhibiting a CAGR of 15.83 % over the estimated period.

Nanotechnology-based packaging, often referred to as nano packaging, is a specialized field of packaging technology that utilizes nanomaterials and nanoscale engineering techniques to develop packaging solutions with unique and advanced characteristics. The market is expected to gain grip due to an increasing focus on sustainable packaging solutions to reduce waste and enhance recyclability.

Fortune Business Insights™ provides this information in its research report, titled “Nanotechnology Packaging Market, 2023-2030”.

Source:

https://www.fortunebusinessinsights.com/nanotechnology-packaging-market-108811

COVID-19 Impact:

Increased Demand for Products with Antimicrobial Properties Propelled Market Growth

The pandemic highlighted the critical need for packaging with resilient antimicrobial properties. Consumers and industries sought packaging solutions that could help reduce the risk of bacterial and viral contamination, thus creating a self-cleaning effect. This increased awareness drove the demand for nanotechnology packaging amid COVID-19 pandemic.

Segmentation:

Improved Packaging Segment to Dominate Due to Widespread Adoption of Nanocoating

In terms of packaging type, the market is divided into smart or intelligent packaging, improved packaging, and active packaging. The improved packaging segment is poised to lead the nanotechnology packaging sector. This is driven by its ability to provide effective barriers against mass transfer with thin nanomaterial layers.

Report Coverage:

The report gives a comprehensive analysis of the leading factors favoring the industry growth over the coming years. It focuses on key aspects such as product type, modality, and leading companies. The report further provides insight into the major trends boosting the global business scenario. The impact of the COVID-19 pandemic on market growth is also included in the report.

Drivers and Restraints:

Surging Popularity for Nanocomposites in Packaging to Spur Market Growth

The ability of nanocomposites to incorporate nanoscale features into packaging materials has led to the development of enhanced packaging solutions. These solutions have improved the mechanical and barrier properties of polymers, making packaging more effective in preserving the quality and freshness of products, which, in turn, drives market growth.

However, concerns about the potential risks associated with nanoparticles migrating from packaging materials into food can hinder nanotechnology packaging market growth.

Regional Insights:

Asia Pacific to Emerge as Key Region Owing to Rising Demand for Pharmaceutical Products

Asia Pacific is likely to hold a prominent position in the market by holding a significant nanotechnology packaging market share. The region’s growth is attributed to the rising demand for pharmaceutical and food safety products.

The growth of the market in Europe is attributed to its well-established laboratories, universities, and research institutions. These research facilities contribute to innovation and development in the field, supporting market expansion.

Competitive Landscape:

Key Players Strike Partnership Deals to Increase their Product Portfolio

Prominent players operating in the nanotechnology packaging market have adopted various strategies such as mergers, collaborations, and partnerships with an aim to expand their customer base.  Additional steps include research initiatives, launch of new products, and R&D initiatives.