Time Temperature Indicator Labels Market Estimated To Witness a Phenomenal Growth by 2025
Time temperature indicator is a smart device that collects real-time data related to temperature and time. Premature perishing are the signs of physical, chemical, micro-biological, and enzymatic reactions. Time temperature indicators detect product degradation, which may be cause by internal and external effects and helps indicate when a product requires alteration by providing an alert. By providing such real-time information, it ensures high quality of products, in turn reducing health risks.
Time temperature indicator use smart technologies such as digital temperature data loggers, dye migration through filter papers, and color changing pouches with bacterial fluids, to monitor changes in physical characteristics of the product such as color and shape. These technologies help measure temperature fluctuations for a specific time period, further recording all the data, to show the quality and freshness of the product within that time period and real time changes of the product.
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Increasing adoption of time temperature indicator in the food industry is attributed to food packaging, sea food packaging. Temperature can affect the quality of a food product, further resulting in safety issues during the time of distribution, transport, and storage. This in turn, has increased the demand for time temperature indicator labels in the food packaging industry.
According to Coherent Market Insights analysis, as of 2016, the total food and agriculture industry value was accounted for around US$ 8 trillion, whereas the global sales of packaged food amounted to around US$ 2.2 trillion. Thus, growing food packaging industry is increasing the demand for smart technology to track quality of products, and sense environmental conditions inside and outside the packaging. This in turn, is expected to proportionally boost growth of the time temperature indicator labels market during the forecast period.
Time Temperature Indicator Labels Market: Regional Insights
The global time temperature indicator labels market is segmented on the basis of regions, into North America, Europe, Asia-Pacific, Latin America, and Middle East, and Africa. The market for Asia-Pacific is expected to register highest CAGR during forecast period due to growing number of retail stores, ecommerce businesses, and super markets in emerging economies such as China and India. This in turn, is expected to increase the demand for cold storage, intelligent packaging, and temperature monitoring technology in the region. To provide these facilities time temperature indicators are increasingly being adopted by the packaging industry to maintain quality of the seafood, meat, poultry, and ready-to-eat food products. According to Coherent Market Insights analysis, in 2014, around 2,091 billion units of packaged food products were sold and is projected to reach 2,578 billion units by 2019. This increase in consumption of packaged food, in turn, is expected to boost growth of time temperature indicator labels market.
Time Temperature Indicator Labels Market: Competitive Background
Major players operating in the global time temperature indicator labels market include 3M Co., CCL Industries Inc., Temptime Corporation, Thin Film Electronics Inc., Bizerba SE & Co. KG, Deltatrak Inc., Biosynergy, Inc., Freshpoint Quality Assurance Ltd., Insignia Technologies Ltd., La-Co Industries Inc., Lcr Hallcrest Llc., and Nigk Corporation.
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