Asia-Pacific, to witness sustainable growth rate in the global nano-enabled packaging market during the forecast period.
Asia-Pacific is expected to witness a sustainable growth in the overall nano-enabled packaging market during the forecast period. The emerging economies in the region has been persistently putting efforts in the field of research development and technological advancements. At present, the region is well recognized for the presence of major vendors and growing consumer in the nano-enabled packaging market.
The healthcare industry is in rapid expansion stage in Asia Pacific region which has increased the demand for nano-enabled packaging in pharmaceutical industries. The nano-enabled packaging act as a barrier from environmental pollutants, light, moisture and provide stability, durability, safety, and improves shelf-life thus, restoring the medicinal properties of products. Pharmaceutical manufacturers are investing in R&D and adopting nano-enabled packaging solution as tracking device so as to ensure food safety and avoid counterfeiting of product. Furthermore, availability of raw materials, rising food processing, and favourable laws and regulations implemented for the use of nanotechnology in pharmaceutical sector is projected to boost the market in the region.
The key players in the global nano-enabled packaging market are Bemis Company, Inc., Tetra Pack, Amcor Limited, Sealed Air, Sonoco Products Company, 3M, CCl Industries Inc., BASF SE, Klöckner Pentaplast, and Dupont.
Impact of COVID-19
The recent pandemic outbreak of COVID-19 across the globe pose to have significant distress and loss in almost every country. The pandemic has affected the global economy by directly affecting production and demand, disrupting supply chain and market, and by its impact on financial markets & firms. The unprecedented COVID-19 has a negative impact on the nano-enabled packaging market due to prolonged lockdown implementation, the industry sectors where nano-enabled packaging has its application were shutdown temporarily. However, the post pandemic scenario for the nano-enabled packaging market is bright as the global economy will gain momentum.
“The active packaging segment is expected for the largest share of the nano-enabled packaging market in 2033.”
Based on technology, the nano-enabled packaging market is categorised into active packaging, intelligent & smart packaging, and controlled release packaging. In 2028, the active packaging technology segment is expected to account for the largest share of the nano-enabled packaging market. The large share of this segment can primarily be attributed to the various properties such as oxygen scavenging, water vapour removers, ethylene removers and others exhibited by the nanomaterials used in active packaging. This technology provides a barrier to outside influence thereby augmenting the demand of active packaging in pharmaceutical and food sector.
