PUBLISHER: Grand View Research | PRODUCT CODE: 1363496
PUBLISHER: Grand View Research | PRODUCT CODE: 1363496
The global nanotechnology market size is expected to reach USD 36.85 billion by 2030, registering a CAGR of 33.1% from 2023 to 2030, according to a new report by Grand View Research, Inc.. The market growth is driven by the increasing adoption of nanotechnology in various end-use verticals such as energy, agriculture, healthcare, and manufacturing, coupled with rising investment by major key players in nanotechnology. For instance, in October 2021, Meta Materials Inc., an advanced materials and nanotechnology company, announced the acquisition of Nanotech Security Corp. The acquisition intends to accelerate metamaterials' scale, growth, and commercialization.
The market's expansion is propelled by the escalating demand for nanotechnology-based tools and devices in the food and agriculture sector. This demand surge stems from the potential of nanotechnology to elevate the quality and safety of food products. The application of nanomaterials in food processing encompasses a range of innovations, including the incorporation of nutraceuticals, fortification with minerals and vitamins, propagation of nutrients, and the nano-encapsulation of flavors. A significant development is the emergence of nanofoods, encompassing products cultivated, processed, or packaged with nanotechnology. This advancement promises to enhance various aspects of food production and consumption.
Moreover, when employed in data processing, the convergence of nanotechnology with smart processors facilitates the collection and analysis of substantial volumes of large volumes of data. This capability empowers companies to analyze business trends and adapt their models accordingly. The integration of nanotechnology holds the potential to invigorate diverse businesses, fostering heightened productivity within workplaces. By harnessing nanotechnology, organizations can streamline communication complexities and enhance the efficiency of their systems and processes.