The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

 

The Business Research Company’s Smart Food Labels Global Market Report 2024 offers crucial insights into the smart food labels market help businesses analyse and build stronger strategies.

 

The smart food labels market has seen remarkable growth in recent years and is poised for even more substantial expansion. This blog explores the key drivers, current trends, and future projections of the smart food labels market.

 

Market Overview

• Current Growth: The market size surged from $10.27 billion in 2023 to $12.39 billion in 2024, reflecting a compound annual growth rate (CAGR) of 20.7%.
• Future Projections: Expected to reach $26.53 billion by 2028, with a CAGR of 21.0%.

 

Historic Growth Drivers:

• Increased consumer demand for transparency.
• Growing concerns about food safety.
• Regulatory mandates for nutritional labeling.
• Advancements in technology for innovative labeling solutions.
• High prevalence of food allergies and intolerances.
• Awareness of sustainability driving eco-friendly labeling initiatives.
• Expanding market for personalized nutrition.

 

Key Growth Drivers for the Future

• Smart Packaging Technologies: Advancements in smart packaging technologies are a significant driver.
• Regulations: Stricter regulations on food safety and labeling.
• IoT and NFC Devices: Growing adoption of Internet of Things (IoT) and Near Field Communication (NFC)-enabled devices.
• Food Allergies and Dietary Restrictions: Rising concerns about food allergies and dietary restrictions.
• Sustainability Awareness: Increasing awareness about sustainability and ethical sourcing.
• Mobile Apps: Proliferation of smartphones and mobile applications.

 

Read The Full Smart Food Labels Market Report Here:
https://www.thebusinessresearchcompany.com/report/smart-food-labels-global-market-report

 

Major Trends:

• Real-time tracking of nutritional information.
• Rising adoption of IoT devices in kitchens.
• Growing awareness regarding food allergies and dietary restrictions.
• Emergence of personalized nutrition solutions.
• Expanding regulatory requirements for food labeling.
• Integration of augmented reality for interactive product information.

 

Rising Demand for Packaged Foods

• Impact on Market: The demand for packaged foods is a significant factor driving growth in the smart food labels market.
• Packaged Foods Overview: Includes pre-prepared, pre-measured, and often pre-cooked foods that are packaged and sold to consumers.

 

Key Factors:

• Long shelf life and convenience.
• Advancements in food technology.
• Globalization and increasing consumer preferences.

 

Recent Statistics:

• In October 2023, Agriculture and Agri-Food Canada reported a record high of $54.3 billion in exports of processed food and beverage products in 2022, a 14.1% increase from 2021.

 

Role of Smart Food Labels:

• Enhancing transparency and traceability.
• Improving consumer engagement with detailed product information and tracking data.

 

Innovative Smart Food Labels Revolutionizing the Industry

• Strategic Partnerships: Companies are forming strategic partnerships to enhance product offerings and market reach.
• Example: In January 2021, Innoscentia AB partnered with Ynvisible Interactive Inc. to develop dynamic expiry date smart food labels. These labels provide real-time updates on food quality based on environmental conditions.

 

Key Innovations:

• Real-time food quality monitoring.
• Dynamic updates on expiry dates and shelf life.

 

ProMach Inc. Expands Capabilities with Lofton Label Inc. Acquisition

• Recent Acquisition: In October 2023, ProMach Inc. acquired Lofton Label Inc. to enhance its labeling and coding capabilities.
• Acquisition Benefits: Expands ProMach’s product range with flexographic packaging roll stock films, stand-up pouches, sachets, and stick packs.

 

Lofton Label Inc. Overview:

• US-based manufacturer of labels and printed flexible packaging materials.
• Supports ProMach’s strategy to broaden its product offerings and capabilities in the labeling sector.

 

Market Segmentation

• By Technology: Sensing Labels, Radio-Frequency Identification (RFID), Dynamic Display, Other Technologies.
• By Applications: Electronic and Information Technology (IT) Asset, Perishable Goods, Security Access, Smart Wrist Bands, Other Applications.
• By End-User: Food and Beverage, Healthcare and Pharmaceutical, Automotive, Fast-Moving Consumer Goods, Logistics, Retail, Other End Users.

 

Regional Insights

• Current Leader: North America was the largest region in the smart food labels market in 2023.
• Future Growth: Continued growth is expected in North America, with other regions also showing strong potential.

 

The smart food labels market is evolving rapidly, driven by advancements in technology, regulatory changes, and shifting consumer preferences. As the market grows, innovations and strategic moves by major players will shape its trajectory, enhancing transparency, safety, and consumer engagement in the food industry.

 

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The Smart Food Labels Global Market Report 2024  provides a comprehensive outlook of the smart food labels market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The smart food labels market forecast offers a thorough analysis on smart food labels market size, smart food labels market share, prominent players and their strategies.

 

The Table Of Content For The Smart Food Labels Market Include:
1. Smart Food Labels Market Executive Summary
2. Smart Food Labels Market Segments
3. Smart Food Labels Market Size And Smart Food Labels Market Growth Rate
4. Key Smart Food Labels Market Trends
5. Major Smart Food Labels Market Drivers
……
25. Key Mergers And Acquisitions In The Smart Food Labels Market
26. Top Smart Food Labels Companies
27. Smart Food Labels Market Opportunities And Strategies
28. Smart Food Labels Market, Conclusions And Recommendations
29. Appendix

 

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