The growing demand for fresh fruits and vegetables in different parts of the world is expected to drive the growth of the active packaging segment.
NEW YORK, NY, USA, September 27, 2021 /EINPresswire.com/ – The global nanotechnology packaging market is expected to grow at a CAGR of 13.2%, from $ 36.71 billion in 2019 to $ 99, 68 billion USD by 2027. With increasing requirements for effective packaging solutions especially for food and beverage, the pharmaceutical sector is a key factor in the continued growth of the industry. Apart from this, food safety regulations introduced by governments around the world are further fueling the growth of the market.
The increased investment for the development of efficient packaging solutions is likely to provide a major boost to the industry. The growing awareness of the benefits offered by packaging solutions, especially for food and pharmaceutical products, is having a major positive impact on the industry. Apart from these favorable regulations introduced by organizations like the FDA regarding the manufacture of packaging materials, the growth of the market is expected to further increase. These packaging solutions are extremely beneficial for pharmaceuticals, personal care and cosmetic products, beverages, meat products, vegetables and ready meals, among others. The industry is said to experience significant growth in the Asia-Pacific sector due to the well-established food processing, pharmaceutical and personal care sector in countries like China, Japan and India.
The main factor limiting the growth of the industry is the high cost of materials used in nanoscale packaging, which ultimately makes products using such packaging expensive. Thus, these products become unaffordable for a large part of the population. The main players in the market are trying to formulate strategies in order to cancel this factor.
The impact of COVID-19:
The COVID-19 pandemic is expected to have a major positive impact on the growth of the market. Demand from all sectors would increase dramatically. The use of such packaging materials would become necessary as awareness among people would increase. People would become more aware of the spread of microorganisms and adopt more and more safety measures or equipment. This would create a gap between supply and demand in the industry and large companies in the market must react quickly to the situation. They must increase their production levels and show their social responsibilities. Key players need to strategize for their operations in order to
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Other key findings from the report suggest:
The smart and intelligent packaging technologies segment is gaining popularity due to its utility in the preservation of bakery products, meat products, beverages, fruits and vegetables.
The offline sales channel is popular among small suppliers and producers who are trying to cater to the domestic markets in their respective regions.
Pharmaceutical application is expected to experience significant growth due to the increasing awareness of people about the quality of drugs.
European countries are expected to keep constant growth rate due to strong demand from food and beverage industry as well as personal care and cosmetics industry. The introduction of food safety regulations is expected to drive the market growth
In May 2020, Danaflex Nano LLC launched packaging material for COVID test strips, antiseptics and other personal medical equipment.
In June 2020, BASF SE expanded its production of packaging coatings to southern China to meet growing domestic demand and reduce lead times.
The main players in the market are BASF SE, Danaflex Nano LLC, Amcor Limited, Chevron Philips Chemical Co. LLC, Sonoco Products Co., Honeywell International Inc., Bemis Company Inc., Avery Dennison, Tetra Pak International SA and DuPont Teijin Films.
There have been a number of mergers and acquisitions in the industry, such as Amcor Limited acquired Bemis Company Inc in 2019, BASF SE acquired the polyamide business from Solvay in 2020 and Tetra Pak International SA acquired the southern company -African Gaussian in 2020.
Key Market Players BASF SE, Danaflex Nano LLC, Amcor Limited, Chevron Philips Chemical Co. LLC, Sonoco Products Co., Honeywell International Inc., Bemis Company Inc., Avery Dennison, Tetra Pak International SA and DuPont Teijin Films.
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For the purpose of this report, reports and data have been segmented into the global nanoscale packaging market on the basis of technology, sales channel, application, and region:
Technology Outlook (Revenue, USD Billion; 2020-2027)
Smart and intelligent packaging
Controlled release packaging
Sales Channel Outlook (Revenue, USD Billion; 2020-2027)
Application Outlook (Revenue, USD Billion; 2020-2027)
Food and drinks
Personal care and cosmetics
Regional outlook (revenue, billion USD; 2020-2027)
North America (United States, Canada and Mexico)
Europe (Germany, United Kingdom, France, Italy, Spain, Sweden, BENELUX, Rest of Europe)
Asia-Pacific (China, India, Japan, South Korea, rest of APAC)
Latin America (Brazil, rest of LATAM)
The Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, Nigeria and South Africa)
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The report focuses on the following key questions
Q.1. What are the most lucrative and promising growth prospects in the market?
Q.2. What sectors are expected to generate a high growth rate and what aspects of the industry are involved in this development?
Q.3. Which geographic areas are estimated to show the highest growth a
d the underlying causes?
Q.4. What factors impact the future of the market and what are the driving factors?
Q.5. What are the obstacles and challenges restraining the growth of the industry during the forecast period?
Chapter 1. Market synopsis
1.1. Market definition
1.2. Scope and premise of the research
1.4. Market estimation technique
Chapter 2. Executive summary
2.1. Summary overview, 2019-2027
Chapter 3. Indicative measures
Chapter 4. Nanoscale Packaging Market Segmentation and Impact Analysis
4.1. Materials Segmentation Analysis Of Nano-Activated Packaging Market
4.2. Industrial outlook
4.2.1. Analysis of market indicators
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Customization of the report is available according to user requirements to ensure maximum usefulness to the reader and an increased level of understanding.
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