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Smart Label Global Market Size, Share, Future Trends, Comprehensive Analysis, Opportunity Assessment By 2033 | CCL Industries Inc., Alien Technology Inc., Advantech Pvt. Ltd., Smartrac N.V., Intermec Inc.
Smart Label Global Market
The smart label market size is expected to see rapid growth in the next few years. It will grow to $18.9 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to brand authentication, consumer demand for sustainability, e-commerce growth, personalized consumer experiences, health and safety concerns, connected packaging ecosystem. Major trends in the forecast period include iot integration, qr code proliferation, anti-counterfeiting measures, product innovations, mobile app integration.
Market Overview -
Smart labels are special labels that contain advanced technology to provide additional information beyond a traditional label. It is used as directions for using or preparing the product, tips for recycling the packaging, warnings about safety and handling, and scrumptious recipes.
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Surging Demand From The Food And Beverage Industry Propels The Smart Label Market
The increasing demand from end users such as the food and beverage industry is expected to boost the growth of the smart label market going forward. The food and beverage industry refers to all businesses that handle the processing, packaging, and distribution of uncooked food. Smart labels add traceability to the product which is important for tracing the source of the food that helps in preventing fake goods, as a result, increasing demand from end users such as the food and beverage industry increases the demand for the smart label market. For instance, in Febuary2023, according to the Food & Drink Federation, a UK-based organization that represents and advises UK food and drink manufacturers, the exports of food and drink increased by 31% in 2022 compared to 2021. Additionally, the food and beverages industry have a turnover of US$3.52billion (£10.3 billion) in 2022, accounting for 33% of total Scottish manufacturing. Therefore, the increasing demand from end users such as the food and beverage industry is driving the growth of the smart labels market.
Competitive Landscape -
Major companies operating in the smart label market report are Avery Denison Corporation, CCL Industries Inc., Checkpoint Systems Inc., Thin Film Electronics ASA, Alien Technology Inc., Zebra Technologies Corporation, SATO Holdings Corporation, Invengo Technology Pte. Ltd., Advantech Pvt. Ltd., Muehlbauer Holding AG & Co. KGaA, Smartrac N.V., Multi-Color Corporation, Intermec Inc., SML Group Limited, CGL Industries Inc., Centre for Process Innovation, PRAGMATIC SEMICONDUCTOR LIMITED, ShipBob Inc., UnitedMasters, Accroma Labtec Ltd., Smart Planet Technologies Inc., Adrich, Uwitechnology Ltd., Cypak AB, General Mills Inc., PepsiCo Inc., Mondelez International, The Coca-Cola Company, Unilever plc, William Frick & Company, Honeywell International Inc., Scanbuy Inc.
Technological Advancements Reshape The Landscape Of The Smart Label Market
Technological advancements are a key trend gaining popularity in the smart label market. Major companies operating in the smart label market are adopting new technologies to sustain their position in the market. For instance, in January 2023, Pod Group a UK-based connectivity solution provider company in partnership with Sodaq, a Netherlands-based quality-focused experienced company in the field of the Internet of Things, and Lufthansa Industry Solutions, a Germany-based software company, launched a commercial smart label tracking device. This device is used for tracking small and lightweight items in the logistics industry. This smart label uses low-power cellular 5G connectivity standards to send device-related data such as location and temperature to a centralized dashboard. This technology keeps the label battery lightweight and optimized battery life that lasts up to 6 months.
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Key Segments -
The smart label market covered in this report is segmented -
1) By Component: Batteries, Transceivers, Microprocessors, Memories, Other Components
2) By Labeling Technology: Radio Frequency Identification (RFID), NFC Tags, Electronic Article Surveillance (EAS), Sensing Labels, Electronics Shelf Labels
3) By Printing Technology: Flexographic Smart Labels, Digital Smart Labels, Gravure Smart Labels, Screen Smart Labels
4) By Application: Retail Inventory, Perishable Goods
5) By End-User: Retail, Healthcare And Pharmaceuticals, Food And Beverages, Consumer Electronics, Supply Chain and Logistics, Transportation, Other End Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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