The global sales of time temperature indicator labels are estimated to be worth USD 0.98 billion in 2024 and are anticipated to reach a value of USD 1.66 billion by 2034. Sales are projected to rise at a CAGR of 5.4% over the forecast period between 2024 and 2034. The revenue generated by the box in 2023 was USD 917.6 million. The industry is anticipated to exhibit a Y-o-Y growth of 5.8% in 2024.
Colour (only) based time temperature indicator labels are predicted to reach a market valuation of USD 635.9 million in 2024 and are expected to reach USD 1,055.7 million by the end of 2034. These colour based TTI labels when integrated with the digital tracking systems can benefit with the storing of the indication values for further data analysis thus driving demand for colour based TTI labels.
Global Time Temperature Indicator Labels Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2023 | USD 917.6 million |
| Estimated Size, 2024 | USD 0.98 billion |
| Projected Size, 2034 | USD 1.66 billion |
| Value-based CAGR (2024 to 2034) | 5.4% |
CTTI labels are poised to offer an incremental opportunity worth USD 669.8 million throughout the next ten years and are predicted to grow at a CAGR of 5.8%. These CTTI labels offer the result of a combination of time and temperature making it ideal for pharmaceutical sensitive products requiring consistent and accurate monitoring.
Enzymatic technology is expected to gain an incremental expansion of 1.8 times the total market value and is anticipated to reach USD 352.3 million by 2024. Enzymes TTI’s utilizes enzyme reactions and are highly sensitive to specific temperature ranges making it suitable for pharma and food where temperature change is critical for products safety and efficiency.
Pharmaceutical end-uses are predicted to offer an incremental opportunity worth USD 537.0 and are expected to grow at a CAGR of 6.0% during the assessment period. Pharmaceutical end uses particularly the sensitive products of biologics and vaccines necessitate temperature indicators for product quality and safety.
Europe is expected to lead the time temperature indicator labels market among other regions growing at a CAGR of 4.8% during the forecasted period and is predicted to gain an incremental expansion of 1.6x times the total market value. The growing stringent regulations and the focus towards sustainability related to food safety driving the demand for the eco-friendly TTI labels market.
The global time temperature indicator labels market is poised to reach USD 982.1 million in 2024 with a growth rate of 5.4% during the assessment period. The continuous demand from the food and beverage sector coupled with the increase in online shopping driving the market for TTI labels.
The below table presents the expected CAGR for the global time temperature indicator labels market over several semi-annual periods spanning from 2024 to 2034. In the first half (H1) of the decade from 2023 to 2033, the business is predicted to surge at a CAGR of 4.9%, followed by a slightly higher growth rate of 5.3% in the second half (H2) of the same decade.
| Particular | Value CAGR |
|---|---|
| H1 | 4.9% (2023 to 2033) |
| H2 | 5.3% (2023 to 2033) |
| H1 | 5.2% (2024 to 2034) |
| H2 | 5.6% (2024 to 2034) |
Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to increase slightly to 5.2% in the first half and slightly increase to 5.6% in the second half. In the first half (H1) the market witnessed an increase of 30 BPS while in the second half (H2), the market witnessed an increase of 30 BPS.
Increasing Demand for Fresh and Perishable Goods
The time temperature indicator labels are utilized for indicating the temperature change of the product stored. This indication is done via change in color of the labels that are particularly used in the food industry where freshness and quality of the products are essential.
With the increase in the preference of consumers related to the safety and quality manufacturers in the industry are focusing on offering products that meet stringent regulations required during the storage and transportation phase.
These TTI labels are used for fresh and perishable food products such as the dairy products, fruits, vegetables, and seafood. These TTI labels offer real time monitoring of the temperature changes and indicates with a color change which help in reducing the wastage of food thus driving the demand for these TTI labels in the food industry.
Technological Advancements in TTI Labels
Time temperature indicator labels is used for monitoring changes in temperature and the new innovations in the TTI labels deals with improving the accuracy in real time monitoring and adaptability to various environments.
The recent advancements in the TTI labels include additional features such as multi-level temperature sensing and improved the visual indications which is possible due to the advancement in the printable technologies, material science, and the sensor technology.
With these advancements the newly formed TTI labels are capable of handling complex and multi-point temperature monitoring under various environments of logistics making them suitable for the pharmaceutical sensitive products and the specialty foods. These advancements in the TTI labels is driving demand in the food and the biologics industries where products are sensitive and accuracy is essential.
Competition from Alternative Technologies Such as RFID Tags to Hamper Market Growth
The time temperature indicator labels are most of the patented products which increases their prices is the major factor that may hamper the growth of the TTI labels market. The other alternate technologies such as the RFID and NFC devices are more efficient compared to the TTI labels.
These alternative technological devices provide accurate historical data which can be digitally analyzed and stored for further calculations in the future unlike in TTI labels which only indicates through color change of the labels.
The other drawback of these TTI labels is that they serve majorly to single use purposes which when compared to other technology devices. All these factors are restraining the overall growth of the TTI labels market.
The global time temperature indicator labels industry recorded a CAGR of 5.1% during the historical period between 2019 and 2023. The growth of the time temperature indicator labels industry was positive as it reached a value of USD 917.6 million in 2023 from USD 742.8 million in 2019.
Time-temperature indicator labels are crucial for various industries and are used for monitoring and keeping a track of temperature changes that are occurring in products during the transportation. These labels are important in the industries where temperature sensitive products are to be monitored for example the medical devices, chemicals, food and the pharmaceutical components.
These labels indicate by changing the color of label when the product crosses the set bench mark for both levels i.e. low and high. These labels play a crucial role in cold chain industries where temperature control of essential vaccines and biologic drugs is important thus growing demand for the TTI labels in the market.
The growing demand for the fresh foods and perishable products coupled with the expansion of pharmaceutical cold chain is further driving the market. The increase in the demand for eco-friendly products pushing manufacturers to opt for recyclable and biodegradable materials that complies with the stringent regulations fueling the market growth.
Tier 1 companies are market leaders characterized by high production of time temperature indicator labels and a wide product portfolio. These market leaders are distinguished by their extensive expertise in manufacturing and reconditioning across multiple processes and a broad geographical reach, underpinned by a robust consumer base.
They provide a wide range of series including recycling, and manufacturing utilizing the latest technology meeting regulatory standards providing the highest quality. Prominent companies within Tier 1 include Brady Corporation, CCL, Antylia Scientific, and Bizerba.
Tier 2 companies include mid-size players characterized by a strong presence overseas and strong market knowledge. These market players have good technology and ensure regulatory compliance but may not have advanced technology and wide global reach. Prominent companies in Tier 2 include Omega Engineering Inc., American Thermal Instruments, La-Co Industries Inc., NiGK Corporation, FLEXO-GRAPHICS, LLC and others.
Tier 3 includes the majority of small-scale companies operating at the local presence and serving niche markets. These companies are notably oriented towards fulfilling local market demands and are consequently classified within the tier 3 share segment.
They are small-scale players and have limited geographical reach. Tier 3, within this context, is recognized as an unorganized market, denoting a sector characterized by a lack of extensive structure and formalization when compared to organized competitors.
The section below covers the industry analysis for the time temperature indicator labels market for different countries. Market demand analysis on key countries in several regions of the globe, including North America, Asia Pacific, Europe, and others, is provided. The United States is anticipated to remain at the forefront in North America, with a CAGR of 4.4% through 2034. In East Asia, China is projected to witness a CAGR of 6.4% by 2034.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| USA | 4.4% |
| Canada | 3.9% |
| Brazil | 4.7% |
| Poland | 5.3% |
| UK | 3.5% |
| China | 6.4% |
| India | 6.9% |
| South Africa | 5.0% |
The pharmaceutical industry is forecasted to reach USD 130 billion by the end of 2030 which is predicted by the Invest India expecting it to be around USD 65 billion till the end of 2024.
India with this growth in the pharmaceuticals industry is focusing on the further expansion within the domestic and the exports internationally. India has been termed as the global leader in the sectors of producing temperature sensitive products such as vaccines, biologics, and other specialty drugs.
This rise in the exports of these temperature-sensitive pharmaceutical products require certain monitoring for enhancing products safety and integrity which boost the demand for the TTI labels. TTI labels offers enhanced solution by detection of the changes in temperatures of these products and indicates while any changes occurred. The increase in the regulatory compliances particularly to sensitive pharmaceutical products to further fuel the market growth.
Processing food exports in the USA in fiscal year 2023 is USD 36.61 billion according to the data provided by the Foreign Agricultural Service.
The exports of processed foods such as frozen foods, dairy products, and the ready-to-eat meals is continuously increasing as the consumer is preferring the convenience food as its regular need due the corporate culture domestically as well as globally. This change in the consumer preference is driving the demand for the processed foods.
These processed foods are exported over a longer route which are also the temperature sensitive products which requires continuous monitoring for maintaining the products safety and integrity during the transportation thus driving the demand for the TTI labels which offers accuracy and efficiency in detection of any temperature changes during the transportation. The growth in the exports of these processed foods is poised to drive the demand for the TTI labels.
The section contains information about the leading segments in the industry. By technology, enzymatic are estimated to grow at a CAGR of 5.9% throughout 2034. Additionally, the pharmaceutical end-uses are expected to offer an incremental opportunity worth USD 537.0 million and is anticipated to grow at a CAGR of 6.0% during the assessment period.
| Product Type | Colour (Only) Based |
|---|---|
| Value Share (2034) | 83.1% |
The colour (only) based time temperature indicator labels are expected to offer an incremental opportunity worth USD 458.4 million throughout the next ten years and are predicted to grow at a CAGR of 5.2% during the assessment period.
The colour based time temperature indicator labels indicates by changing their hues when the products temperature exceeds a certain threshold or meet a certain value set for a particular label. This indication helps consumers in the consistent monitoring of their products and the indication in temperature fluctuations which can be crucial for products safety and security. These types of time temperature labels are preferred in the supply chains with the limited technological infrastructure.
| Label Information | CTTI |
|---|---|
| Value Share (2034) | 81.8% |
CTTI time temperature indicator labels are poised to reach USD 814.4 million in 2024 and are predicted to reach a market valuation of USD 1,431.2 million by the end of 2034.
CTTI stands for the critical time-temperature indicators which indicates the temperature fluctuations in the product and it also indicates the duration of the temperature fluctuation occurred making it ideal for the industries where the factors of the combination of time and temperature are crucial.
The product exposed to high temperature above than the threshold set value may degrade the products quality making CTTI an important for ensuring compliance with the safety standards.
Key players operating in the time temperature indicator labels market are focusing on investing in the sustainability of time temperature indicator labels and also entering into partnerships. Key time temperature indicator label providers have also been acquiring smaller players to grow their presence to further penetrate the time temperature indicator labels market across multiple regions.
Recent Industry Developments in the Time Temperature Indicator Labels Market
| Report Attributes | Details |
|---|---|
| Estimated Market Size (2024) | USD 0.98 billion |
| Projected Market Size (2034) | USD 1.66 billion |
| CAGR (2024 to 2034) | 5.4% |
| Base Year for Estimation | 2023 |
| Historical Period | 2019 to 2023 |
| Forecast Period | 2024 to 2034 |
| Report Parameter | Revenue in USD billion/Volume in units |
| Product Types Analyzed | Irreversible, Reversible, and Barcode Based |
| By Label Information | CTI, CTTI, and TTI |
| By Technology | Microbiological, Diffusion, Polymer-based, Photochemical, Enzymatic |
| By End Use | Pharmaceutical, Food & Beverage, Chemical & Fertilizers, and Others (Cosmetics, etc.) |
| Regions Covered | North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, Middle East & Africa |
| Countries Covered | United States, Japan, Germany, India, United Kingdom, France, Italy, Brazil, Canada, South Korea, Australia, Spain, Netherlands, Saudi Arabia, Switzerland |
| Top Segments Covered | By Product Type, By End Use |
| Top Growth Markets | United States, Japan, Germany, India, United Kingdom, France, Italy, Brazil, Canada, South Korea, Australia, Spain, Netherlands, Saudi Arabia |
| Key Players | CCL Industries Inc., Bizerba SE & Co. KG, Zebra Technologies Corp, Delta Trak, Inc., SpotSee, Evigence Sensors, Insignia Technologies Ltd, La-Co Industries Inc., Varcode LTD., TIP Temperature Products, NiGK Corporation, Antylia Scientific, American Thermal Instruments, Oli-Tec, Brady Corporation, Omega Engineering Inc., Flexo-Graphics, LLC, Vanprob Solutions, PAPER THERMOMETER™ Company, and Temperature Indicator Ltd. |
| Additional Attributes | Dollar sales by value, market share analysis by region, and country-wise analysis. |
| Customization & Pricing | Available upon request |
In terms of product type, the industry is divided into colour (only) based and barcode based. The colour (only) based is further sub-divided into irreversible and reversible. Irreversible are categorized as freeze indicating, dual temperature, and high temperature indicators.
In terms of label information, the industry is segregated into CTI, CTTI, and TTI.
By technology, the market is divided into microbiological, diffusion, polymer-based, photochemical, enzymatic, and others.
The market is classified by end uses such as pharmaceutical, food & beverage, chemical & fertilizers, others (cosmetics, etc.).
Key countries of North America, Latin America, Europe, East Asia, South Asia, MEA, and Oceania have been covered in the report.
The global time temperature indicator labels industry is projected to witness a CAGR of 5.4% between 2024 and 2034.
The global time temperature indicator labels industry stood at USD 917.6 million in 2023.
The global time temperature indicator labels industry is anticipated to reach USD 1.66 billion by 2034 end.
Europe region is set to record the highest CAGR of 4.8% in the assessment period.
The key players operating in the global time temperature indicator labels industry include Brady Corporation, CCL, Antylia Scientific, Bizerba., Omega Engineering Inc, American Thermal Instruments, La-Co Industries Inc, NiGK Corporation, FLEXO-GRAPHICS, LLC, Timestrip UK LTD, Varcode LTD, The JRI Company, Evigence Sensors, Insignia Technologies Ltd, and TIP Temperature Products.
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Time Temperature Indicator Labels Market
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