Spoil Detection Based Smart Label Market Volume Analysis, Segments, Value Share and Key Trends 2016-2026
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.
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.
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<strong>Spoil</strong> <strong>Detection</strong> <strong>Based</strong> <strong>Smart</strong> <strong>Label</strong> <strong>Market</strong>: Global Industry<br />
<strong>Analysis</strong> <strong>and</strong> Opportunity Assessment <strong>2016</strong>-<strong>2026</strong><br />
December <strong>2016</strong><br />
Report Id : REP-GB-1162<br />
Status : Ongoing<br />
Category : Electronics, Semiconductors, <strong>and</strong> ICT<br />
©2015 Future <strong>Market</strong> Insights, All Rights Reserved
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<strong>Spoil</strong> <strong>Detection</strong> <strong>Based</strong> <strong>Smart</strong> <strong>Label</strong> <strong>Market</strong><br />
Overview: <strong>Spoil</strong> <strong>Detection</strong>-<strong>Based</strong> <strong>Smart</strong> <strong>Label</strong> <strong>Market</strong><br />
A smart label uses the technology beyond conventional bar codes, <strong>and</strong> forms a crucial facet of printed<br />
electronics through the sensor technology. <strong>Spoil</strong> detection-based smart labels especially capture an<br />
important portion of the printed electronics market, as they are extensively used for groceries, <strong>and</strong> other<br />
food <strong>and</strong> beverage products all over the globe. While a sizeable population across the globe is a dedicated<br />
packaged food products buyer, it has been observed that consumers are finding it easy to read the detailed<br />
product information stored in a chip, using their smartphones, computers, or scanners.<br />
According to the U.S. Grocery Manufacturers Association (GMA), around 80% of products belonging to food<br />
<strong>and</strong> beverages, pet <strong>and</strong> personal care, <strong>and</strong> household verticals will do feature a smart label, within the next<br />
five years. Drupa(the largest printing equipment exhibition in the world, held in Germany) indicates that an<br />
increasing number of companies are relying on smart labels to provide traceability of their food products to<br />
consumers. Leading food manufacturing br<strong>and</strong>s, including Hershey Co., Kellog Company, The J.M. Smucker<br />
Company, <strong>and</strong> Nestle have started using smart labels.<br />
Future Outlook: <strong>2016</strong>-<strong>2026</strong><br />
The global market for spoil detection-based smart labels is rapidly growing <strong>and</strong> is anticipated to witness<br />
robust growth during the forecast period <strong>2016</strong>-<strong>2026</strong>. <strong>Spoil</strong> detection-based smart labels detect the exact<br />
freshness of products <strong>and</strong> facilitate the entire process of monitoring the product spoilage in real time. They<br />
also serve to monitor <strong>and</strong> measure the factors; temperature, pH, moisture, <strong>and</strong> microbial growth to mention<br />
the basic ones. This strong attribute is a key factor influencing the overall growth of the market.<br />
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<strong>Spoil</strong> <strong>Detection</strong> <strong>Based</strong> <strong>Smart</strong> <strong>Label</strong> <strong>Market</strong><br />
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<strong>Key</strong> Drivers: <strong>Spoil</strong> <strong>Detection</strong>-<strong>Based</strong> <strong>Smart</strong> <strong>Label</strong> <strong>Market</strong><br />
Food materials are predicted to propel the dem<strong>and</strong> for spoil detection-based smart labels. According to<br />
FMI’s research, vegetables, fruits, meat, <strong>and</strong> fish will continue to drive heavy growth of the market globally.<br />
With rising adoption of smart packaging <strong>and</strong> increasing consumer population inclined toward purchasing<br />
hygienic food products, the market is expected to gain traction in the packaged food products sector. A few<br />
developed nations are currently following strict norms related to minimal food wastage, prompting<br />
at elevated dem<strong>and</strong> for spoil detection-based smart labels for virtually tracking food spoilage.<br />
Apart from food <strong>and</strong> beverage industry, smart labels are being increasingly used in pharmaceuticals, medical<br />
<strong>and</strong> healthcare, chemical, <strong>and</strong> logistics, which is foreseen to bolster the market growth over the forecast<br />
period. Moreover, growing collaborative efforts from several private <strong>and</strong> government entities is said to play a<br />
major role in improving the quality <strong>and</strong> efficiency of products, thereby supporting the market to thrive. In<br />
addition, favourable governmental regulations <strong>and</strong> policies will act a key driving force in strengthening the<br />
spoil detection-based smart label market globally.Increasing number of food safety st<strong>and</strong>ards monitoring<br />
agencies all over the globe is also an important reason for widespread adoption of smart labels.<br />
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<strong>Spoil</strong> <strong>Detection</strong> <strong>Based</strong> <strong>Smart</strong> <strong>Label</strong> <strong>Market</strong><br />
<strong>Spoil</strong> <strong>Detection</strong> <strong>Based</strong> <strong>Smart</strong> <strong>Label</strong> <strong>Market</strong>: Segmentation<br />
The global spoil detection-based smart label market is segmented on the basis of product type, application,<br />
<strong>and</strong> region.<br />
On the basis of product type, the market is further segmented into time- temperature indicator, oxygen<br />
indicator, carbon-dioxide indicator, pathogen indicator, <strong>and</strong> others. The time-temperature indicator segment<br />
holds key importance inadoption of spoil detection-based smart labels.<br />
Regional Outlook<br />
According to regional analysis, the global market is segmented into seven key regions, including North<br />
America, Latin America, Eastern Europe, Western Europe, Japan, Asia Pacific excluding Japan (APEJ), <strong>and</strong><br />
Middle East <strong>and</strong> Africa (MEA). North America <strong>and</strong> Western Europe are currently having a strong hold in the<br />
market, driven by higher consumer awareness about packaged food safety <strong>and</strong> technological advancements<br />
in the food <strong>and</strong> beverages packaging industry.<br />
APEJ is projected to witness considerable growth opportunity over the forecast period. Over the forecast<br />
period, increasing dem<strong>and</strong> for packaged food products <strong>and</strong> growing consumer awareness about packaged<br />
food safety are expected to dramatically bolster the growth of spoil detection-based smart labels in the APEJ<br />
region.<br />
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<strong>Spoil</strong> <strong>Detection</strong> <strong>Based</strong> <strong>Smart</strong> <strong>Label</strong> <strong>Market</strong><br />
<strong>Key</strong> Players in the Global <strong>Spoil</strong> <strong>Detection</strong> <strong>Based</strong> <strong>Smart</strong> <strong>Label</strong> <strong>Market</strong><br />
Some of the key players identified to lead the market include Sato Holdings AG, Zebra Technologies, Thinfilm<br />
Electronics ASA, Invengo Information Technology Co., Ltd., <strong>Smart</strong>rac N.V., <strong>and</strong> Muhlbauer Holding AG & Co.<br />
KGAA. Many of these companies are concentrating on application-specific products development to cater to<br />
individual business-related needs. Product innovation strategies are foreseen to continue accounting for<br />
increased revenues.<br />
In 2015, the collaboration of PakSense (a leading U.S.-based logistics company) with Thinfilm started offering<br />
smart labels to food industry, particularly for temperature monitoring. The same year, Flexstr8, a U.S. startup<br />
started providing NFC-enabled labels for consumer products, pharmaceuticals, <strong>and</strong> chemicals. Tyson<br />
Foods Inc., a leading U.S. meat <strong>and</strong> poultry producing company, has recently added a QR code to some of its<br />
chicken products in order to support expansion in the Chinese market, where consumers prefer to buy very<br />
fresh poultry products. The Italian pasta <strong>and</strong> sauce maker Barilla recently teamed with Cisco, Penelope<br />
S.p.A., <strong>and</strong> NTT Data for the development of QR codes, assuring safety for foods.<br />
In the early <strong>2016</strong>, Thinfilm Electronics, partnered with Constantia Flexibles, collaborated with Hopsy for<br />
introducing wireless NFC tags to a variety of locally produced craft beers across the U.S.<br />
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