PUNE, India -- According to a new market research report "Spoil Detection Based Smart Label Market by Type (Fish, Meat, Vegetables, Dairy Products), and Geography (North America, Europe, APAC, Row) - Global Forecast to 2020", published by MarketsandMarkets, the market for Spoil Detection Based Smart Label is expected to reach USD 1681.31 Million in 2020 at a CAGR of 11.80% for the forecast period 2014-2020.
Spoil detection-based smart labels can be stuck on packaging or on the surface of food material to detect its freshness. Spoil detection-based smart labels monitor various factors of food material such as temperature, moisture, growth of micro-organism, and many others. Changes in these factors act as stimulus for these labels. Spoil detection-based smart labels convey the exact degree of freshness of the food material by changing their texture, color, or even communicating to system with help of RFID tags. The market size of spoil detection-based smart labels was USD 860.96 Million in 2014 and is expected to be USD 1681.31 Million by 2020, at a CAGR of 11.80% between the period 2014 and 2020.
Spoil detection-based smart labels can be used in various industries such as healthcare and pharmaceuticals. The pharmaceutical industry is currently facing issues such as product recalls or product returns due to overstocking or expiry. Sensing labels could play a key role in resolving these issues, by ensuring the authenticity of the products in the industry, thereby improving the product quality and safety along with reducing the cost. The major items supplied to the medical industry include surgical instruments, patient monitoring equipment, blood and drugs, and hospital staff garments. Spoil detection-based smart labels can monitor and sense the degree of spoilage in these materials.
In this report, the spoil detection-based smart labels market has been segmented by type and geography.
Spoil Detection Based Smart Label Market by type consists of material on which labels are used.
The market by geography includes regions North America, Europe, APAC, RoW and Japan. The Americas and Europe regions are leading geographies because of the larger presence of industry players and consumer awareness. In addition, Government agencies such as FDA, FSA, and USDA are framing the policies to encourage the use of spoil detection-based smart labels in industries such as packaging, pharmaceuticals and food and beverage.
The dynamics of spoil detection-based smart label industry are dependent upon various factors such as regional governing body's policies, consumer awareness, and industry players' offerings. The government policies are crucial and have a significant impact on spoil detection-based smart label industry. . The increased consumer preference for hygienic foods is also one of the crucial driving factors for this industry. The supply chain industry presents opportunities for spoil detection-based smart label market.
The report includes the competitive landscape of spoil detection-based smart label industry along with company profiles of Invengo Information Technology Co. Ltd. (China), Muhlbauer Holding Ag (Germany), SATO Holding Corporation (Japan), Smartrac N.V. (Netherland), Thin Film Electronics ASA (Norway), and Zebra Technologies (U.S.).
Browse 17 market data Tables and 27 Figures spread through 68 Pages and in-depth TOC on "Spoil Detection Based Smart Label Market" http://www.marketsandmarkets.com/Market-Reports/spoil-detection-based-smart-label-market-148090041.html
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