The global consumer industry experienced a 10% decline in patent filings in Q3 2023 compared with the previous quarter. The total number of grants rose by 0.25%, resulting in overall patent publications decreasing by 10.8%, according to GlobalData’s Patent Analytics. GlobalData’s databook Consumer: Patents Trends Q3 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 patent applications in the consumer industry was 37,814 in Q3 2023, versus 42,393 in the prior quarter. Filings were down 23% year-on-year and decrease 10% quarter-on-quarter. This compares to a 23% year-on-year decrease in patent grants and 10% decline in quarter-on-quarter.
Most patenting activity has been in the Cosmetics & Toiletries sector, where the number of patents filed Q2 2023 was 4855, a drop of 9% versus the previous quarter. The second-largest patent count was in Food (3490, down 11%) and then Skincare in third (2916, down 5%).
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 2,573, followed by Haier Group with 2,041 and Guangdong Oppo Mobile Telecommunications with 1,625.
Patenting activity was driven by China with a 34% share of total patent filings
The largest share of patent filings in the consumer industry in Q3 2023 was in China with 34%, followed by the US (16%) and Japan (8%). The share represented by China was 2% higher than the 32% share it accounted for in Q2 2023.
For further understanding of GlobalData's Consumer: Patents Trends Q3 2023, buy the databook here.