The global packaging industry experienced a 79% decline in the number of environmental sustainability-related patent applications in Q4 2023 compared with the previous quarter. The total number of environmental sustainability-related grants dropped by 84% in Q4 2023, according to GlobalData’s Patent Analytics. GlobalData’s databook Packaging: Patents Trends Q4 2023 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
Notably, the number of environmental sustainability-related patent applications in the packaging industry was 898 in Q4 2023, versus 4,198 in the prior quarter.
The top five companies accounted for 10% of patenting activity
Analysis of patenting activity by companies shows that LG filed the most environmental sustainability patents within the packaging industry in Q4 2023. The company filed 29 environmental sustainability-related patents in the quarter, compared with 46 in the previous quarter. It was followed by SK with 19 environmental sustainability patent filings, Dai Nippon Printing (18 filings), and Nestle (12 filings) in Q4 2023.
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Patenting activity was driven by China with a 31% share of total patent filings
The largest share of environmental sustainability related patent filings in the packaging industry in Q4 2023 was in China with 31%, followed by the US (19%) and Japan (11%). The share represented by China was 46% lower than the 78% share it accounted for in Q3 2023.
For further understanding of GlobalData's Packaging: Patents Trends Q4 2023, buy the databook here.
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