The "Spoil Detection Based Smart Labels - Global Market Outlook (2019-2027)" report has been added to ResearchAndMarkets.com's offering.
Global Spoil Detection based Smart Labels Market accounted for $1,502.87 million in 2019 and is expected to reach $4,227.27 million by 2027, growing at a CAGR of 13.8% during the forecast period.
Increasing government standards, the ability of runtime detection of the degree of freshness of food material, and rising customer preferences for the hygiene of food material are some of the factors propelling the growth of the market. However, lack of uniform standards and form factor of the label are hampering the growth of the market.
Spoil detection-based smart labels detect the exact freshness of products and help the entire process of monitoring the product spoilage in real-time. Smart labels are used in food & beverage and healthcare industries to detect the degree of freshness of food materials. They also help to monitor and measure the factors like temperature, pH, moisture, and microbial growth to mention the basic ones.
Based on the end-user, the food & beverage segment is anticipated to hold considerable market share during the forecast period as food can be lost or spoiled during the supply chain, from early agricultural production to final household consumption. The labels are the ideal products to trace such loss and reduce the wastage of food materials.
By geography, North America is expected to grow at a significant market share during the forecast period due to the rising number of foodborne diseases, increasing customer liking for hygienic food material and supportive customs by the Food and Drug Administration (FDA).
What the report offers:
Market share assessments for the regional and country-level segments
Strategic recommendations for the new entrants
Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and Recommendations)
Strategic recommendations in key business segments based on the market estimations
Competitive landscaping mapping the key common trends
Company profiling with detailed strategies, financials, and recent developments
Supply chain trends mapping the latest technological advancements
Scope of the Report
Product Types Covered:
Time - Temperature Indicator
Radio-Frequency Identification (RFID)
Near-Field Communication (NFC)
Pharmaceutical & Healthcare
Food & beverage
Some of the key players profiled
Thinfilm Electronics ASA
Sato Holdings AG
Muhlbauer Holding AG & Co. KGAA
Invengo Information Technology Co. Ltd.
Honeywell International Inc.
CCL Industries Inc.
Avery Dennison Corporation
For more information about this report visit https://www.researchandmarkets.com/r/vf29fj
View source version on businesswire.com: https://www.businesswire.com/news/home/20201020005598/en/
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