The global Spoil Detection based Smart Label market size is forecast to reach $145.6 million by 2026, growing at a CAGR of 9.3% from 2021 to 2026. Spoil detection based smart labels have emerged as a major contributor within the printed electronics market, which helps in detecting or identifying various parameters including temperature indicator, pathogen indicator and so on. Leveraging smart label technology can help food or pharmaceutical drug manufacturers towards detecting the freshness of the products, monitor its quality standards and others before dispatching with the logistics. In addition, integration of smart labels with RFID sensors, proximity sensors and others, rising arte of foodborne diseases along with increasing customer preferences towards hygienic standard products overtime can further impact the market growth of spoil detection based smart label in the long run.
Spoil Detection Based Smart Label Market Segment Analysis - By Type
Time-Temperature Indicators are analyzed to grow with the highest CAGR of around 6.5% in the global spoil detection based smart label market during the forecast period 2021-2026. Smart labels for spoil detection using time-temperature indicators help the end users to gain knowledge regarding the shelf lives of the products be it food, beverages, medical drugs with others under a fixed time and temperature. Time-temperature based smart labels change colors on getting breached, which in turn encourages better control in the supply chain. Since fresh food items, pharmaceutical or medical products get exposed to excessive or varied temperature conditions during shipment activities, the need to analyze likelihood of spoilage becomes highly essential. Owing to such factors, adoption of time temperature indicators have been gaining wide popularity across varied end use markets to improve quality control standards and identify spoilage detection overtime. In November 2020, Pfizer/BioNTech had revealed about facing challenges regarding storage and transportation related to its developed COVID-19 vaccines, due to requirement of temperature below -70 degrees Celsius. This had led to adoption of vaccine vial monitors, which are smart labels having time-temperature indicators which comprises of a colourless chemical, giving a darker visual indication during cumulative heat exposure. Such initiatives towards using these smart labels was done to help health workers as well as vaccinators regarding spoiled vaccines through changed label indication, and is further set to impact the market growth in the long run.
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Spoil Detection Based Smart Label Market Segment Analysis - By End Users
Food & Beverage sector is analyzed to witness the fastest growth in the global spoil detection based smart label market with a CAGR of 8.1% during 2021-2026. Stringent government regulations regarding quality control or testing of food products, growing shift towards processed food items, along with compliance requirements to provide manufacturing date, expiry date, storage requirements and so on by food & beverage manufacturing firms have been attributing towards the market growth. Leveraging smart labels help in monitoring as well as measuring varied parameters including moisture, temperature, pH levels, and so on, through offering texture or colour change indications along with offering RFID based sensing. As per USDA’s Global Agricultural Trade System, there were about $3.3 billion import of dairy products in 2020 in U.S, a comparative fall of over 2.2% from 2019. In September 2020, a study was conducted from a research team of MIT, Cambridge related to development of a silk based micro needle technology micro needle, which can sample fluids through colorimetric change signal, indicating presence or absence of pathogenic bacteria. Multiple types of pathogen specific inks can be easily patterned using this technology, creating a smart label capable of easy and simultaneous detection of pathogens or changing pH levels, showing food spoilage occurrence. Such factors are set to assist the market growth for spoil detection based smart labels in the food & beverage industries in the coming time.
Spoil Detection Based Smart Label Market Segment Analysis - By Geography
North America region had dominated the global spoil detection based smart label market with a share of 36% in 2020, attributing to factors including governmental regulations or initiatives towards reducing food wastage due to contamination and increasing consumer demand towards hygienic food & beverage products. The growing number of foodborne diseases along with strict mandates regarding quality control and authorization or licensing of food & pharmaceutical products can contribute towards the need for spoil detection based smart labels in the region. In addition, incidents regarding spoilage of frozen food items, medicines or cosmetics due to shipping discrepancy, expiration or overstocking along with infrastructural projects related to frozen food industries will also impact the adoption of smart labels. In June 2019, C& S Wholesale Grocers had recalled an undetermined amount of ready-to-eat as well as not-ready-to-eat meat and poultry products subjected to temperature abuse during transport. According to U.S Department of Agriculture Food Safety and Inspection Service, this have resulted into the growth of spoilage organisms or pathogens, creating shipping disruptions. In January 2021, a U.S based healthcare company, Aurora medical center had revealed about spoilage of about 500 Moderna COVID-19 vaccine doses due to exposure to unsuitable temperature conditions. Such factors are further set to drive the demand for spoil detection based smart labels in the long run.
Spoil Detection Based Smart Label Market Drivers
Rising rate of foodborne diseases drives the need for spoil detection based smart labels
Rising rate of foodborne diseases can be considered as one of the major factors driving the market growth of spoil detection based smart label. Since foodborne diseases or illness are caused due to consumption of contaminated food items, the need for ensuring freshness and quality control for the food products becomes highly essential to improve hygiene standards. Adoption of smart labels including pathogen indicators, time or temperature indicators and so on through colour or texture variations can help in offering efficient spoilage detection of processed or packaged food products, ensuring high safety standards. In addition, the rise in deaths, hospitalizations and occurrence of food borne diseases or illness have significantly grown overtime, indicating the need for smart labels. According to the Centers for Disease Control & Prevention (CDC) report published on April 2020, about 36 confirmed cases of foodborne outbreaks across 17 states were reported involving 30 hospitalizations and 4 deaths, as compared to 39 cases over the previous month. Such statistical data show the high prevalence of food borne illness or diseases overtime, thereby driving the market growth towards spoil detection based smart labels.
Growing consumer preference towards hygienic products positively impacts the market growth of smart label with spoil detection capabilities
Growing consumer preference towards hygienic products can also be considered as a major factor boosting the market growth of spoil detection based smart label. With growing prevalence of diseases related to unhygienic conditions of food items or medical supplies, consumers have started focusing towards opting for high quality hygiene control products. This in turn have eventually raised the awareness towards maintaining hygienic standards of the food products, pharmaceutical ingredients and so on, ensuring temperature control during supply chain operations. With the outbreak of COVID-19 pandemic, the shift towards hygienic food products to ensure minimal contamination or improve safety standards have significantly grown, which can also raise the growth of smart labels in the long run. In December 2019, Quality Council of India had revealed about its launch of two certification schemes, Good Hygienic Practices (GHP) and Haxaed Analysis Critical Control Point (HACCP), which were based on globally accepted Codex standards for food manufacturers as well as supply chain operators. This scheme will help the food chain industry to demonstrate compliance with global standards through mandate of HACCP for sectors including meat, fish, dairy and others along with GHP across all food sectors. Such factors are bound to drive the adoption of smart labels to ensure standard hygienic practices for the country.
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Spoil Detection Based Smart Label Market Challenges
High costs associated with integrated components of smart labels hinders the market growth
High costs associated with integrated components of smart labels act as one of the major factors impeding the market growth of spoil detection based smart labels. Smart labels used for spoilage detection needs to be integrated with sensors to check the temperature variations, microbial occurrence, and related indicators. Integration of such components can add up the overall production costs for the manufacturing firms of varied end use sectors including pharma, food & beverage and others. This in turn, further add up to the packaging costs for the logistic operators. The average price of sensors used in smart labels lies in between $20 to $50. Moreover, using smart labels for supply chain & logistic operations can be beneficial, creating higher spend on quality control or product damage, positively impacting the rise in purchasing costs for the consumers. Such factors will eventually create an adverse impact on the market growth, creating slower adoptability for spoil detection based smart labels.
Spoil Detection Based Smart Label Market Landscape
Technology launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Spoil Detection Based Smart Label Market. The Spoil Detection Based Smart Label Market top 10 companies include:
● Insignia Technologies
● Evigence Sensors
● SATO Holding AG
● Thinfilm Electronics ASA
● Smartrac N.V.
● Invengo Information Technologies Co. Ltd.
● CCL Industries Inc.
● Zebra Technologies Corporation
● Scanbuy Inc.
● Avery Dennison Corporation
Acquisitions/Technology Launches
In March 2021, Insignia Technologies announced the launch of the new automatic ‘After Opening Timer’, in order to help consumers reduce food wastage through identifying duration of packet kept opened.
In October 2019, EVIGENCE Sensors announced about entering into a collaboration agreement with ConsenSys, regarding its track & trace platform, Treum for offering a block chain based temperature traceability solution.
Key Takeaways
Food & Beverage industry is anticipated to witness the fastest growth in the global spoil detection based smart label market during the forecast period 2021-2026, owing to growing shift towards processed food items, stringent regulations regarding hygiene and quality control with others.
North America Spoil Detection based Smart Label market held the largest share in 2020, attributing to factors like shift towards hygienic products and increasing regulations or initiatives regarding reducing food wastage.
Rising rate of foodborne diseases along with growing customer preferences towards hygienic products is analyzed to significantly drive the spoil detection based smart label market growth during 2021-2026.
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