CHAPTER 9: Potential Benefits and Market Drivers for Nanotechnology in the Food Sector

For emerging technologies, such as nanotechnology, that are still relatively nascent, the willingness of organizations and investors to support the journey from concept to market is heavily influenced by uncertainties surrounding their regulation and eventual reception by the public. This chapter considers the potential channels to market for nanoproducts in the face of such uncertainties, the market drivers that will influence the types of innovation, and the need to understand the interactions of market channels and drivers early on in a product’s development if resources are not be wasted. It considers the influence of a range of activities on a product’s progression to market: the continued debate on the regulatory definitions for nanomaterials; the key dominance of risk management and the need for a common understanding of risk and benefits; the need for new measurement methods for nanomaterials; and the need for early engagement with key stakeholders to identify “safe” areas for development. It also reviews the underlying forces that could drive demand for nanotechnology uses and assesses the technology’s potential, whether by adding value to existing products and markets, or by developing products that would not be possible without nanotechnology, or in enabling applications across other emerging technologies.