This Spoil Detection Based Smart Label market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Spoil Detection Based Smart Label market.
Overview: Spoil Detection-Based Smart Label Market
A smart label uses the technology beyond conventional bar codes, and forms a crucial facet of printed electronics through the sensor technology. Spoil detection-based smart labels especially capture an important portion of the printed electronics market, as they are extensively used for groceries, and other food and beverage products all over the globe. While a sizeable population across the globe is a dedicated packaged food products buyer, it has been observed that consumers are finding it easy to read the detailed product information stored in a chip, using their smartphones, computers, or scanners.
According to the U.S. Grocery Manufacturers Association (GMA), around 80% of products belonging to food and beverages, pet and personal care, and household verticals will do feature a smart label, within the next five years. Drupa (the largest printing equipment exhibition in the world, held in Germany) indicates that an increasing number of companies are relying on smart labels to provide traceability of their food products to consumers. Leading food manufacturing brands, including Hershey Co., Kellog Company, The J.M. Smucker Company, and Nestle have started using smart labels.
Future Outlook: 2016-2026
The global market for spoil detection-based smart labels is rapidly growing and is anticipated to witness robust growth during the forecast period 2016-2026. Spoil detection-based smart labels detect the exact freshness of products and facilitate the entire process of monitoring the product spoilage in real time. They also serve to monitor and measure the factors; temperature, pH, moisture, and microbial growth to mention the basic ones. This strong attribute is a key factor influencing the overall growth of the market.
Key Drivers: Spoil Detection-Based Smart Label Market
Food materials are predicted to propel the demand for spoil detection-based smart labels. According to FMI’s research, vegetables, fruits, meat, and fish will continue to drive heavy growth of the market globally. With rising adoption of smart packaging and increasing consumer population inclined toward purchasing hygienic food products, the market is expected to gain traction in the packaged food products sector. A few developed nations are currently following strict norms related to minimal food wastage, prompting at elevated demand for spoil detection-based smart labels for virtually tracking food spoilage.
Apart from food and beverage industry, smart labels are being increasingly used in pharmaceuticals, medical and healthcare, chemical, and logistics, which is foreseen to bolster the market growth over the forecast period. Moreover, growing collaborative efforts from several private and government entities is said to play a major role in improving the quality and efficiency of products, thereby supporting the market to thrive. In addition, favourable governmental regulations and policies will act a key driving force in strengthening the spoil detection-based smart label market globally. Increasing number of food safety standards monitoring agencies all over the globe is also an important reason for widespread adoption of smart labels.
Trends and Opportunities
- Use of spoil detection-based smart labels in pharmaceutical industry is highly trending against the issues such as safety and authenticity of products, expiry dates and overstocking, and post-sales product returns.
- The medical and healthcare industry is increasingly using spoil detection-based smart labels for tracking the real time spoilage of various health monitoring equipment, blood and other test samples, and hospital-specific goods.
- SCM is anticipated to be an attractive sector for the spoil detection-based smart labels market, since it forms an integral part of various industrial verticals, including pharmaceuticals, medical and healthcare, and food and beverages.
- FMI indicates strong growth opportunities for established as well as emerging companies in the market, owing to rising use of sensory labels in healthcare industry, burgeoning supermarket chains in the U.S. and Europe, and innovative R&D by key players.
- Focusing on the transparency about providing product information along with the products’ origin could be an opportunity for entrants to new geographical markets.
Spoil Detection Based Smart Label Market: Segmentation
The global spoil detection-based smart label market is segmented on the basis of product type, application, and region.
On the basis of product type, the market is further segmented into time- temperature indicator, oxygen indicator, carbon-dioxide indicator, pathogen indicator, and others. The time-temperature indicator segment holds key importance in adoption of spoil detection-based smart labels.
According to regional analysis, the global market is segmented into seven key regions, including North America, Latin America, Eastern Europe, Western Europe, Japan, Asia Pacific excluding Japan (APEJ), and Middle East and Africa (MEA). North America and Western Europe are currently having a strong hold in the market, driven by higher consumer awareness about packaged food safety and technological advancements in the food and beverages packaging industry.
APEJ is projected to witness considerable growth opportunity over the forecast period. Over the forecast period, increasing demand for packaged food products and growing consumer awareness about packaged food safety are expected to dramatically bolster the growth of spoil detection-based smart labels in the APEJ region.
Key Players in the Global Spoil Detection Based Smart Label Market
Some of the key players identified to lead the market include Sato Holdings AG, Zebra Technologies, Thinfilm Electronics ASA, Invengo Information Technology Co., Ltd., Smartrac N.V., and Muhlbauer Holding AG & Co. KGAA. Many of these companies are concentrating on application-specific products development to cater to individual business-related needs. Product innovation strategies are foreseen to continue accounting for increased revenues.
In 2015, the collaboration of PakSense (a leading U.S.-based logistics company) with Thinfilm started offering smart labels to food industry, particularly for temperature monitoring. The same year, Flexstr8, a U.S. start-up started providing NFC-enabled labels for consumer products, pharmaceuticals, and chemicals. Tyson Foods Inc., a leading U.S. meat and poultry producing company, has recently added a QR code to some of its chicken products in order to support expansion in the Chinese market, where consumers prefer to buy very fresh poultry products. The Italian pasta and sauce maker Barilla recently teamed with Cisco, Penelope S.p.A., and NTT Data for the development of QR codes, assuring safety for foods.
In the early 2016, Thinfilm Electronics, partnered with Constantia Flexibles, collaborated with Hopsy for introducing wireless NFC tags to a variety of locally produced craft beers across the U.S.
The report covers exhaustive analysis on:
- Spoil Detection Based Smart Label Market Segments
- Spoil Detection Based Smart Label Market Dynamics
- Historical Actual Market Size, 2013 - 2015
- Spoil Detection Based Smart Label Market Size & Forecast 2016 to 2026
- Supply & Demand Value Chain
- Spoil Detection Based Smart Label Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
- Spoil Detection Based Smart Label Market Drivers and Restraints
Regional analysis for Spoil Detection Based Smart Label Market includes
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Unique Requirements? Customize this Report
- Customize by Region, Country, Application, Product, & other segments
- Integrate our Insights with your Existing Data
- Determine the scope of the study to suit your requirements
Let FMI Help You!
- Gain Insights on Key Spoil Detection Based Smart Label Market Impacting Forces
- Know the Winning Strategies of Market Leaders
- Get Deep-Dive Analysis on Each Segment
- Identify the Sources that will Drive Top-Line Revenue
Spoil Detection Based Smart Label Market
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Spoil Detection Based Smart Label Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Spoil Detection Based Smart Label Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Spoil Detection Based Smart Label Market report?
In addition to up-to-date market figures and customized of the Spoil Detection Based Smart Label Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.