Food Nanotechnology Market to record a CAGR of 24.69% by 2028
Global Food Nanotechnology Market size is projected to reach USD 1,092.87 Billion by 2028 from an estimated USD 233.21 Billion in 2021, growing at a CAGR of 24.69% globally.
The rapid increase in the global population is significantly increasing the need for food, which can be met only through a significant increase in agricultural production. As the traditional methods to augment crop production are unable to meet the demands of the growing population, researchers are working on nanotechnology tools to develop new varieties of plants and increase the productivity of plant systems. Some of the benefits that can be obtained through the use of nanotechnology include minimal agricultural inputs and enrichment of the crops through the absorption of nanoscale nutrients from the soil. This would help to enhance food quality and safety. Therefore, the adoption of innovative nanotechnology tools will boost the growth of the food nanotechnology market size during the forecast period.
Nanotechnology is the science and technology that are used in the food industry to detect bacteria in packaging or produce stronger flavors and color quality, and safety by increasing the barrier properties. Food nanotechnology was introduced by Pasteur and it started from the Pasteurization process to kill the spoilage bacteria (1000 nm), which made the first move to improving food processing and enhancing the quality of food.
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Major Key Players for Food Nanotechnology Market:
- BASF (Germany)
- Valentis Nanotech (Israel)
- Blue California (US)
- PEN (US)
- Frutarom Industries (Israel)
- Southwest Research Institute (US) and other major players.
Market Dynamics and Factors:
Food nanostructured ingredients and food Nano sensing are the two primary groups of nanotechnology applications in the food industry. Consumer concerns about food quality and health benefits are driving academics to find a technique to improve food quality while preserving the nutritional value of the product to the greatest extent possible. The food industry has expanded its need for nanoparticle-based products because many of them include critical nutrients and be non-toxic. They’ve also been discovered to be stable under extreme temperatures and pressures. Food manufacture, processing, and packaging are all made possible by nanotechnology. Nanomaterials make a significant difference in food quality and safety, as well as the health advantages that food provides. Many organizations, researchers, and corporations are developing new nanotechnology-based approaches, procedures, and products in the food science field. Nanotechnology is extending the shelf life of various food products and reducing food waste owing to microbial infestation. As a result, this aspect contributes to the market’s growth throughout the predicted period.
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Food Nanotechnology Market Report Highlight:
- By type, the nanomaterials segment is anticipated to dominate the market over the forecast period. These nanostructures can be employed in food processing as food additives, carriers for smart nutrient delivery, anti-caking agents, antibacterial agents, and fillers to improve the mechanical strength and durability of packaging materials.
- By application, the food packaging segment is expected to hold the maximum Food Nanotechnology market throughout the forecast period. From better packaging material with improved mechanical strength, barrier properties, and antimicrobial films to Nano sensing for pathogen detection and alerting consumers to the safety status of food, Nano-based “smart” and “active” food packaging offers several advantages over traditional packaging methods.
Food Nanotechnology Market Segmentation:
- Nano Materials
- Nano Tools
- Nano Devices
- Food Packaging
- Food Processing
- Food Testing
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Scope of the Report:
The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The Food Nanotechnology Market study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER’s Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.
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