CRI Report has released a report titled “Smart Food Labels Market – Analysis of Market Size, Share & Trends for 2019– 2020 and Forecasts to 2030” which is anticipated to reach USD XX billion by 2030. the market is anticipated to portray a CAGR of 17.6% between 2020 and 2030. According to the report, Through the rapid growth of the retail and manufacturing sector, the demand for smart labels has gone up in stock and asset tracking. Smart Food Labels facilitates consumers to get additional details about the product by scanning a bar code or doing an online search. It helps the consumer to get all the information they want to know about the food product. Further, smart food labels help the consumer to buy a food product according to their nourishment. Global Smart Food Labels Market is expected to grow at a vigorous growth over the forecast period i.e.2020-2030. Further, mounting awareness among the consumers concerning food products and expanding adoption of innovative technology by the food industry are envisioned to embellish the growth of the Smart Food Labels Market.
The market report on global Smart Food Labels Market includes in-depth insights as:
- The estimated value of the market was USD XX billion in the year 2020.
- Global Smart Food Labels in North America held the largest market share in the year 2020 in terms of revenue.
- Global Smart Food Labels are divided by Technology into Sensing Labels, RFID, Dynamic display, and Others.
- Global Smart Food Labels market is segmented by Applications into Electronic & IT asset, Perishable Goods, Security Access, Smart Wrist Bands, and Others.
- Global Smart Food Labels market is segmented by End User into FMCG, Logistics, Retail, and Others.
- Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.
“The production of goods in the high volume has been evaluated to be the major adopters of IoT in production, packaging, labeling, material handling, and distribution. There is a shift in emphasis of these suppliers towards the customer assignation with smart packaging solutions to accomplish the next level of customer satisfaction. This is resulting to the usage of smart packaging solution authentication, reordering stocks, temperature detection, tracking, and several other factors. This is established to drive the Smart Food Label Market during the forecast period 2020-2030. Moreover, spiked diffusion of smart technology and rising consumer concerns regarding food products is another key driver to boost the market growth.”
Smart food labels simplify consumers to get supplementary information on a packaged food product either by scanning a bar code or by doing an online search. The change in the color of smart food labels ensue whenever the chemicals extant in these labels detect any form of microorganisms growing inside the food packet. Nutrition facts label also include five core nutrients namely; calories, total fat, sodium, total carbs, and protein. When it comes to manufacturing or importing food in the US, the food manufacturers’ work doesn’t end with their settled food products ready for distribution. The food product first needs to be branded. U.S. Food and Drug Administration is a federal agency that oversees the labeling of food, and their complex labeling protocols often give headaches to food producers.
Smart Food Label Market is segmented by Technology into Sensing Labels, RFID, Dynamic display, and Others. RFID labels market has reported for the highest share of the Smart Label Market in 2019 due to the cost-effectiveness, prohibitive traceability and ease of handling, uneven and other aspects. Such types of labels are majorly implemented in retail, automotive, manufacturing, and other industrial sectors for supply chain management, inventory management, and asset tracking tenders. Moreover, the Dynamic display segment is also witnessed significant growth in the Smart Food Labels Market, owing to its facility to exhibit product information and pricing for accuracy and easy price management.
Key Players in the Market
- Some of the key players operating in the global Smart Food Labels Market are CCL Industries, Checkpoint Systems, Avery Dennison Corporation, Smartrac NV, Label Insight, Thin Film Electronics, Qliktag, Smart Label, Sato Holdings Corporation, Graphic Label, and other prominent players
Get Valuable Insights into Global Smart Food Labels Market
In the new report, CRI Report thrives to present an unbiased analysis of the global Smart Food Labels Market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2030. The study includes compelling insights into growth that is witnessed in the market. Global Smart Food Labels are divided by Technology into Sensing Labels, RFID, Dynamic display, and Others. Global Smart Food Labels market is divided by Applications into Electronic & IT asset, Perishable Goods, Security Access, Smart Wrist Bands, and Others. Global Smart Food Labels market is segmented by End-user into FMCG, Logistics, Retail, and Others. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East, and Africa.