The Global Nanotechnology in Food & Beverage Market is projected to grow at a CAGR of more than 10% in the forecast period of 2023-28, cites MarkNtel Advisors in their recent research report. The market is driven by the expanding millennial inclination toward processed & packaged food. Besides, alarming microbial food contamination prevalence and the rising need for lightweight & durable materials have necessitated the utilization of Nanotechnology in Food & Beverages.
These are the possible reasons encouraging the adoption of metal nanoparticles such as nano zinc oxide (ZnO), silver nanoparticle (AgNP), etc., in edible coating materials. It is done primarily to achieve improved barrier properties, antimicrobial capacities, and controlled release of nutrients. These factors are expected to bolster market growth in the coming years.
Besides, the large influx of investments relating to advancements in nanotechnology-based packaging solutions encourages additional food export activities across the globe and, in turn, paves the way for more research and innovations in the field of nanotechnology, further states the research report, “Global Nanotechnology in Food & Beverage Market Analysis, 2023.”
Owing to Its Antimicrobial Properties Silver Nanoparticles to Thrive During 2023-28
Based on Material Type, Silver Nanoparticles garnered a maximum share in the Global Nanotechnology in Food & Beverage market in the historical period. The swelling demand for fresh food, food with high shelf life, and augmenting need for antimicrobial food packaging to protect against foodborne diseases are factors boosting the demand for silver nanomaterial. Besides, nano silver coatings are applied on vegetables and fruits to make them fresh during transit and storage, as the additional silver layer alter their respiration mechanism. Perhaps, it is why the adoption of silver nanoparticles has surged in recent years, pushing the market upwards during the forecast period.
Prevailing Affinity for Ready-To-Eat Foods Drives the North American Market
In recent years, North America captured the most market share for global nanotechnology in food and beverage, and as per projection, it will continue to dominate in the coming years. The widespread use of nanotechnology in the food business has helped it take the top spot. Since processed food is becoming more popular across North America, the use of nanotechnology to serve this rising demand is anticipated to increase in the upcoming years. Besides, the growing working population, which is driving up demand for ready-to-eat and packaged imported foods, is another element enticing the US nanotechnology industry.
The leading players in the Global Nanotechnology in Food & Beverage Market are Aquanova AG, Nanopack Inc., Pen Inc., Valentis Nanotech.
Key Questions Answered in the Research Report