Food Nanotechnology Market was valued at USD 150 billion in 2019 and is expected to reach USD 693.17 billion by the year 2026, at a CAGR of 24.69%.
Nanotechnology is the science and technology of manipulating nanomaterials for a variety of purposes. It plays an important role in the food and agriculture industries, contributing to crop improvement, improving food quality and safety, and promoting human health through the novel and innovative approaches. Nanotechnology has been dubbed "one of the most fascinating areas in the field of food science and technology." The usage of food-grade structures at nanoscale levels has shown promising results, and it has been recommended as a new technique to improve food safety and quality while simultaneously developing new and novel food products with unique attributes.
Food waste costs the food sector a lot of money. According to the UN's Food and Agriculture Organization, more than 1.3 billion metric tonnes of consumable food is lost or wasted every year throughout the supply chain, primarily due to poor post-harvest procedures, storage, and transportation facilities, as well as market and consumer food loss. Nanotechnology is used in the food business for all processes, including food production, processing, storage, and distribution. It improves security by employing Nanosensors to detect any pathogen or containments in food, resulting in the food nanotechnology market growth over the forecast period.
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Major Key Players for Food Nanotechnology Market:
· Aquanova
· BASF
· NanoPack
· PEN
· Valentis Nanotech
· Blue California
· Frutarom Industries
· Southwest Research Institute
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.
· APAC is expected to account for major market share growth during the forecast period. In APAC, China and Singapore are the most important countries for the food nanotechnology market. Furthermore, market growth in this region will be faster than in Europe, South America, the Middle East, and Africa. Food nanotechnology market expansion in APAC will be driven by rapid industrialization and urbanization, as well as increased awareness through social media platforms for healthier, safer, and more nutritious food during the forecast period.
Key Industry Development:
In December 2021, Godrej Appliances, a division of Godrej & Boyce, the Godrej Group's flagship firm, has been expanding its product portfolio in response to a market movement toward greater health and hygiene awareness. To meet this rising demand, the company has added innovative 'Nano Disinfection Technology' to its frost-free refrigerator line, for which it has also filed a patent.
Food Nanotechnology Market Segmentation:
By Type
· Nano Materials
· Nano Tools
· Nano Devices
By Application
· 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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