Nanotechnology packaging industry 'to expand 13%'
01 June 2011
Posted by Jayne Kavanagh
The market for packaging made using nanotechnology will expand at a compound annual growth rate (CAGR) of 13 per cent between 2009 and 2013.
This is the prediction made in a new report that pointed to the use of nanoscience to create materials that have enhanced antimicrobial, mechanical and barrier properties.
According to the study from analyst RNCOS, breakthroughs are being made using the manipulation of particles that allow wrappings to monitor the condition of food, with the US, Australia and Japan leading the world in terms of adoption of nano packaging innovations.
"Nanotechnology applications are gradually making inroads in the food and beverage sector to offer their technological advantages," RNCOS stated, pointing to the wide range of areas in which the science is being employed.
In April, RNCOS reported the field of nanomedicine is expanding rapidly and is expected to grow at a global CAGR of 13 per cent from 2009 to 2013, with the anti-cancer therapeutics market predicted to drive the sector over the coming years.