The global consumer industry experienced a 17% decline in patent filings in Q3 2024 compared with the previous quarter. The total number of grants dropped by 14%, resulting in overall patent publications decreasing by 17.7%, according to GlobalData’s Patent Analytics. GlobalData’s databook Consumer: Patents Trends Q3 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
Smarter leaders trust GlobalData
Notably, the number of patent applications in the consumer industry was 37,221 in Q3 2024, versus 45,212 in the prior quarter. Filings were down 16% year-on-year and decrease 17% quarter-on-quarter. This compares to a 16% year-on-year decrease in patent grants and 17% decline in quarter-on-quarter.
Most patenting activity has been in the Cosmetics & Toiletries sector, where the number of patents filed Q2 2024 was 3779, a drop of 36% versus the previous quarter. The second-largest patent count was in Food (3720, down 18%) and then Skincare in third (3301, down 12%).
The top five companies accounted for 21% of patenting activity
Analysis of patenting activity by companies shows that the largest number of patents filed over the last quarter was by LG with 2,371, followed by Haier Group with 1,730 and Guangdong Oppo Mobile Telecommunications with 1,500.
Patenting activity was driven by China with a 30% share of total patent filings
The largest share of patent filings in the consumer industry in Q3 2024 was in China with 30%, followed by the US (17%) and Japan (8%). The share represented by China was 10% lower than the 39% share it accounted for in Q2 2024.
For further understanding of GlobalData's Consumer: Patents Trends Q3 2024, buy the databook here.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
