New York, NY -- (SBWIRE) -- 10/16/2017 -- 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.

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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.

Segment Analysis

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.

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Regional Analysis

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.