A new market research study by Technavio on the global food nanotechnology market projects the market to grow at a CAGR of more than 24% during the period 2019-2023. This research report provides an in-depth analysis of the market in terms of revenue, top drivers, and emerging market trends. It also includes detailed insights and forecasts for all the market segments across different geographies.
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Technavio has published a new market research report on the global food nanotechnology market from 2019-2023. (Graphic: Business Wire)
Increasing adoption of novel nanotechnology tools to boost agricultural productivity
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.
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Growing applications of food nanotechnology in nutraceuticals
The growing preference for healthy lifestyle choices is triggering the demand for products from the nutraceuticals segment, including dietary supplements and food additives such as vitamins and natural coloring agents. Nanocapsules protect the active compounds of nutritional supplements from high temperatures during the processing and retain the nutritional properties of the supplements. Food nanotechnology works on natural food components and encapsulates vitamins and health-enhancing nutrients that otherwise do not dissolve well in liquids. Such growing applications of food nanotechnology in the nutraceuticals segment will boost market growth during the forecast period.
According to a senior analyst at Technavio, “Apart from the growing applications of food nanotechnology in nutraceuticals, other factors such as rising global initiatives to improve agricultural output, and the increasing research programs on nanotechnology in food packaging will have a significant impact on the growth of the food nanotechnology market during the forecast period.”
Lack of trained laboratory professionals
The accurate analysis and interpretation of results is very important in experiments involving nanotechnology. Therefore, skilled personnel must perform nanotechnology experiments. However, in developing countries of Africa, APAC, and South America, there is a dearth of trained professionals, which is stunting the growth of the market in these regions. However, the increasing application and awareness of the benefits of food nanotechnology will encourage end-users to provide suitable training programs for individuals to carry out accurate analysis and interpretation of outcomes.
Top players in the global food nanotechnology market:
Some of the key topics covered in the global food nanotechnology market include:
Five Forces Analysis
Technavio is a leading global technology research and advisory company. It provides detailed market research reports that provide clients with actionable insights to help them identify market opportunities and design effective strategies to optimize their market position.
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