“Time Temperature Indicator Labels Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027),” a new report by Future Market Insights tracks the performance of the market for an assessment period of 10 years i.e. between 2017 and 2027. Global time temperature indicator labels market is expected to witness robust growth during the forecast period. This growth is expected to be primarily driven by growing concern about food wastage and its impacts on economy. According to this report, the global time temperature indicator labels market is estimated to be valued at US$ 54.8 Mn by 2017 end, and is forecast to be valued at US$ 137.4 Mn by 2027 end. Sales revenue is expected to increase at a robust CAGR of 9.6% during the forecast period. In terms of volume, global time temperature indicator labels market stood at 1,500.0 (Mn Units) in 2016, and is expected to reach 3,852 (Mn Units) by 2027 end.
Global Time Temperature Indicator Labels Market- Drivers
- Growing perishables exports from Poland, and rising food & pharmaceutical spending in Russia to drive the growth
- Growing exports of fresh cut flowers, wine and clinical trial supply
- Growing demand from seafood, chemicals and wine sector
- Growing demand for TTI labels from food & pharmaceutical sectors
- Demand for low cost temperature monitoring solutions
- Growing concern about food wastage
- Growing demand for fresh produce and fresh food
- Growing demand from healthcare sector
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Global Time Temperature Indicator Labels Market- Forecast by End Use
On the basis of end use segment, the global time temperature indicator labels market is segmented into food & beverages, pharmaceuticals, chemicals and fertilizers and others. Pharmaceutical segment dominates the overall global time labels market by end-use. Pharmaceutical segment is expected to represent a market share of more than 70.4% in 2027. The mandatory regulations on pharmaceutical cold chain logistics by international and national associations like WHO, are influencing the demand for TTI labels.
Global Time Temperature Indicator Labels Market- Forecast by Label Information
The label information segment is consist of Critical Temperature Indicators (CTI), Critical Time Temperature Indicators (CTTI) and Time Temperature Indicators (TTI). Among the label information segments, the CTTI segment is estimated to be dominant in the global time temperature indicator labels market with a revenue share of 84.2% by 2017 end. The global market by CTTI sub-segment has been estimated to be valued at US$ 46.2 Mn, in 2017, which is forecast to rise to around US$ 114.2 Mn, by the end of 2027.
Global Time Temperature Indicator Labels Market- Forecast by Technology
On the basis of technology, global time temperature indicator labels market is segmented into Photochemical, Enzymatic, Microbiological, Diffusion, Polymer-based and Others. Polymer-based technology segment to dominate the overall global time temperature indicator labels market with a market share of 41.8% by 2027. Polymer-based segment to gain a market share of 110 Bps over forecast period.
Global Time Temperature Indicator Labels Market- Forecast by Product
The product segment of global market for time temperature indicator labels include, colour based and barcode based segments. Colour based segment is further segmented into irreversible and reversible segments. Colour (only) based time temperature indicator labels segment is expected to represent 82.4% of the overall global time temperature indicator labels market by 2027
Global Time Temperature Indicator Labels Market- Forecast by Region
APEJ time temperature indicator labels market is expected to gain market share by 310 Bps between forecast periods. The penetration of time temperature indicator labels in fresh produce such as vegetables & fruits, seafood and pharmaceuticals is continuously rising. In 2027, APEJ is expected to grab largest revenue share of 23.1%. Western Europe and Eastern Europe together dominates the global time temperature indicator labels market, throughout the forecast period.
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Global Time Temperature Indicator Labels Market- Key Players
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., Nigk Corporation, The JRI Company, ShockWatch, Inc., Varcode, LTD., Cryolog S.A., American Thermal Instruments, Vitsab International AB, and Timestrip UK Ltd., are some of the key companies that are operating in the global market for temperature indicator labels.