The global consumer industry experienced a 9% decline in patent filings in Q2 2024 compared with the previous quarter. The total number of grants rose by 3%, resulting in overall patent publications decreasing by 9.1%, according to GlobalData’s Patent Analytics. GlobalData’s databook Consumer: Patents Trends Q2 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.
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Notably, the number of patent applications in the consumer industry was 39,808 in Q2 2024, versus 43,772 in the prior quarter. Filings were down 19% year-on-year and decrease 9% quarter-on-quarter. This compares to a 19% year-on-year decrease in patent grants and 9% decline in quarter-on-quarter.
Most patenting activity has been in the Cosmetics & Toiletries sector, where the number of patents filed Q1 2024 was 5040, a rise of 1% versus the previous quarter. The second-largest patent count was in Food (3870, down 4%) and then Skincare in third (3368, up 7%).
The top five companies accounted for 22% 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 2,580, followed by Haier Group with 1,901 and Guangdong Oppo Mobile Telecommunications with 1,765.
Patenting activity was driven by China with a 39% share of total patent filings
The largest share of patent filings in the consumer industry in Q2 2024 was in China with 39%, followed by the US (15%) and Japan (8%). The share represented by China was 0.18% higher than the 39% share it accounted for in Q1 2024.
For further understanding of GlobalData's Consumer: Patents Trends Q2 2024, buy the databook here.
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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.
