According to Future Market Insights, the global time temperature indicator labels market is anticipated to grow at a robust 6.5% CAGR from US$ 917.6 million in 2023 to US$ 1,715.6 million in 2033. (FMI).
Products shouldn’t be exposed to the outside environment while in transit or shipping. An effective solution in this situation might be a time-temperature indication label. Since products like food and pharmaceuticals are frequently harmed by temperature increases, these temporal temperature indicator labels assist in maintaining correct temperatures for those products.
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Consignments are increasingly being sent globally across various climatic regions as a result of the increased specialisation and sensitivity of pharmaceutical products. In the food and beverage sector, rising demand for perishable food items like seafood, soft fruits, cheese, and meat from the developing world’s middle class is also boosting the need for efficient temperature-controlled packaging solutions because the majority of these goods are heavily imported from far-off lands.
Transport of temperature-sensitive food products to distant markets is made possible by specialised agriculture and aquaculture operations. Time temperature indicators are now more complicated because to technologically improved features, but they are also more practical for end-use applications.
Changes in buying preferences towards online purchases and increased imports and exports of perishable products are the factors that are affecting the acceleration of the global time temperature indicator labels market. Time temperature indicator labels are easy to use and low cost. Their use also results in advantages such as improved food safety and increased shelf life.
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Key Takeaways of Time Temperature Indicator Labels Market Study
- By product type, color (only) based is expected to hold more than 2/3th value share by 2033 in the global market as visual verification becomes easier with change in the external temperature.
- Critical time temperature indicators (CTTI) is the most lucrative sub-segment from label information segment, in terms of market share as well as incremental opportunity. This segment is rapidly growing and expected to expand at a CAGR of 4% in from 2023 to 2033.
- Enzymatic segment is estimated to hold a 8% share in the global market share estimated to accelerate at a CAGR of 6.8% between 2023 and 2033.
- North America is estimated to capture around 1/4th of the time temperature indicator labels market due to presence of prominent market players. The region is expected to achieve a market share of around 25% by 2033.
“Rising demand for perishable food products is translating into increasing need for TTI Labels. Technological advancements in the packaging industry is expected to bolster the demand for time temperature indicator labels market. The cost-effectiveness provided by the manufacturers is also likely provide a boost to the time temperature indicator labels market” says an FMI analyst.
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Who is Winning?
From 2023 to 2033, prominent market participants are anticipated to invest in research & development for creating more cost-effective products. Acquisition and merger strategies are also likely as players compete to expand their global footprints.
The key players operating in the time temperature indicator labels market are 3M Company, CCL Industries Inc., TIP Temperature Products, Delta Trak, Phase IV Engineering, Inc., Biosynergy, Inc., Evigence Sensors, Insignia Technologies Ltd., Liberty Marking Systems, Timestrip UK LTD, Testo SE & Co. KGaA, American thermal instruments, Vanprob Solutions, SRV Controls, and R.R. Donnelley & Sons Company.
Time Temperature Indicator Labels Industry by Category
By Product Type:
- Color (Only) Based
- Irreversible
- Reversible
- Barcode Based
By Label Information:
- Critical Temperature Indicators (CTI)
- Time Temperature Indicators (TTI)
- Critical Time Temperature Indicators (CTTI)
By Technology:
- Microbiological
- Diffusion
- Polymer-based
- Photochemical
- Enzymatic
By End-use Industry:
- Pharmaceutical
- Food & Beverage
- Chemical & Fertilizers
About the Packaging Division at Future Market Insights
The packaging team at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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