Nanotechnology, No Free Lunch

Abstract

Nanotechnology is the new science and technology of the super small. Particles at the nano-scale, from one to one hundred billionths of a metre, exhibit novel properties. Nanotechnology is an active area of research and rapid commercialization. The food industry has been targeted as a potential recipient of this new technology and engineered nanoparticles are reportedly already in some super-market products. Nanotechnology is currently unregulated, and there are no requirements for mandatory labelling, this leaves consumers unprotected and uninformed. Consumers are largely unaware of nanotechnology, expect labelling on nano-products, are unclear of the cost/benefit balance, and express an unwillingness to purchase nanofood. The asymmetric information status of nanotechnology, together with its undetermined safety, raises issues, opportunities, and risks for food manufacturers and retailers.