Canada nano-enabled packaging market is predicted to grow at a CAGR of 8.3% during the forecast period (2020-2027).

Posted July 15, 2020 by shrushti

Canada nano-enabled packaging market is estimated to account for around US$ 481.3 million in terms of value in the year 2019 and it predicted to grow at a CAGR of 8.3% during the forecast period (2020-2027).

Rising demand for anti-counterfeit products is expected to foster the market growth of the nano-enabled packaging. Manufacturers are rapidly adopting advanced packaging solutions such as nano-enabled packaging in order to reduce the anti-counterfeit product in the market. The high presence of counterfeit products not only impacts the revenue but also affect the brand image. But with the adoption of nano-enabled packaging manufacturers can track their product by using RFID technology, thus reduce the risk of counterfeit products.

Market Opportunities

Growing demand for meat products with anti-microbial packaging is expected to augment the market growth of the Canada nano-enabled packaging. Moreover, increasing consumption of frozen food products coupled with the rising adoption of intelligent packaging solutions in frozen food is expected to have a positive impact on the market growth of the nano-enabled packaging. Furthermore, the growing focus of the government in Canada to expand the food industry is further anticipated to bolster the market growth over the forecast period.

Market Restraints

Complexity in the design and development of tailor-made packaging is expected to hinder the market growth. Moreover, different food requires a different type of packaging for maintaining longer shelf-life until it consumed. This increases the complexity in the packaging process which is expected to restrict the growth of the Canada nano-enabled packaging market in the near future.

Key Takeaways:

On the basis of application, prepared foods segment dominated the Canada nano-enabled packaging for food and beverage market in 2019 with a 21.1% of market share in terms of value, followed by beverages and dairy segments respectively.

On the basis of technology, the controlled packaging segment dominated the Canada nano-enabled packaging for food and beverage market in 2019 with 57.3 % of market share in terms of value, followed by active packaging and intelligent packaging respectively.

Market Trends

The growing focus of researchers to develop bio-based active packaging in response to the growing demand for biodegradable packaging solutions is expected to augment the market growth of Canada's nano-based packaging. For instance, in April 2017, Scientists at Research Laboratories in Sciences Applied to Food (RESALA) and Canadian Irradiation Centre (CIC) have developed biodegradable, ‘active’ packaging materials that can be used in food packaging applications. It is developed by using raw renewable materials, such as starch or proteins with nanocellulose, which is a natural polymer that contains nano-sized cellulose fibers, and then irradiated them.

COVID-19 Impact on Food Packaging Industry

The coronavirus outbreak has led to sharpest decline in demand for certain types of packaging which has affected the food packaging industry. The pandemic has caused the food service outlets and restaurants to shut down, demand for packaged food products is expected to rise. The rising demand for packaged food is expected to increase demand for packaging products. As crude oil prices have fallen owing to pandemic’s effect on demand, cost of oil-based raw materials such as plastic resins is expected to fall.

The pandemic will affect packaging choices, favoring packaging designs that will address hygiene and consumer safety, like those which minimize possibility of virus survival on packaging surface. According to Coherent Market Insights, consumers across the globe will be increasingly inclined to buy products through e-commerce channels and other home delivery services. This is expected to drive demand for packaging products from these sectors.

Competitive Section:

Company Names

3M Company
Amcor Limited
Crown Holdings Incorporated
E. I. du Pont de Nemours and Company–DuPont
Honeywell International, Inc.
Bemis Company, Inc.
Sealed Air Corp.
Multisorb Technologies, Inc.
AMCOL International Corporation – Nanocor Inc.
Few Recent Developments
In February 2020, BASF and packaging manufacturer Fabbri Group have partnered to develop a new cling film for fresh food packaging. As part of the partnership, Fabbri Group has developed the stretch film Nature Fresh using certified compostable and biobased bioplastic BASF’s ecovio.

-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Country United States
Categories Food
Tags canada nano enabled packaging for food
Last Updated July 15, 2020