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Surging Demand From The Food And Beverage Industry Propels The Smart Label Market Driver: A Major Catalyst in the Evolution of the Smart Label Market in 2025
Smart Label Market Size
The smart label market is anticipated to grow due to the rising demand from end-user industries such as food and beverage. All businesses involved in the processing, packaging, and distribution of raw food are included in this sector. By aiding in product traceability, smart labels help to track the food's origin and combat counterfeiting, thereby increasing the demand from industries like the food and beverage sector. For example, the Food & Drink Federation, a UK organization advising food and drink manufacturers, reported in February 2023 that the exports of food and beverage surged by 31% in 2022 versus 2021. Additionally, the turnover of the food and beverage industry stood at US$3.52 billion (£10.3 billion) in 2022, representing 33% of the total manufacturing sector in Scotland. Hence, the accelerating demand from industries such as the food and beverage is propelling the expansion of the smart labels market.
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What is the projected compound annual growth rate (CAGR) of the smart label market from 2025 to 2034, and what factors influence it?
In recent times, the smart label market has swiftly expanded. The market will escalate from a valuation of $10.82 billion in 2024 to $12.5 billion in 2025, boasting a compound annual growth rate (CAGR) of 15.6%. The spurt of growth witnessed in the historic period is primarily due to retailer's demand for efficiency, improved supply chain management, cost-cutting measures, heightened concerns over counterfeiting, and the inclusion of data analytics.
The next few years are projected to bring about speedy expansion in the smart label market size, with estimations predicting it to reach "$21.82 billion in 2029, growing at an impressive compound annual growth rate (CAGR) of 14.9%. This growth during the forecasted period can largely be credited to factors such as brand authentication, the increasing demand from consumers for sustainable products, the rise of e-commerce, personalized consumer interactions, health and safety considerations, and the evolving connected packaging ecosystem. Key trends anticipated for the forecast period encompass the integration of internet of things (iot), wide adoption of qr codes, the initiation of anti-counterfeiting methods, innovation in product development, and inclusion of mobile app functionalities.
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How are the latest trends influencing the growth of the smart label market?
The advancement of technology is becoming a prominent trend within the smart label market. Big industry players are looking to embrace new technological developments to maintain their market position. For example, in January 2023, Pod Group, a UK-based connectivity solution firm, in collaboration with Sodaq, an IT company based in the Netherlands, and Lufthansa Industry Solutions, a German software company, unveiled a new commercial smart label tracking device. This innovative device is designed to track smaller, lightweight items in the logistics sector. The device uses low-power 5G cellular connectivity standards to transmit data such as location and temperature to a designated centralized dashboard. The technology behind the smart label ensures the lightness of the badge battery and provides an optimized battery life of up to 6 months.
What are the major segments of the smart label market and their role in driving growth?
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
Subsegments:
1) By Batteries: Lithium-Ion Batteries, Lithium Polymer Batteries, Alkaline Batteries, Other Battery Types
2) By Transceivers: RFID Transceivers, NFC Transceivers, Bluetooth Transceivers, Other Transceiver Types
3) By Microprocessors: 8-bit Microprocessors, 16-Bit Microprocessors, 32-Bit Microprocessors, 64-Bit Microprocessors
4) By Memories: EEPROM (Electrically Erasable Programmable Read-Only Memory), Flash Memory, SRAM (Static Random-Access Memory), DRAM (Dynamic Random-Access Memory)
5) By Other Components: Antennas, Sensors, Integrated Circuits, Other Electronic Components
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Which regions are key players in the growth of the smart label market?
North America was the largest region in the smart labels market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global smart label market during the forecast period. The regions covered in the smart label market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the smart label market?
Major companies operating in the smart label market include 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, SML Group Limited, Centre for Process Innovation, PRAGMATIC SEMICONDUCTOR LIMITED, Smart Planet Technologies Inc., Adrich, Uwitechnology Ltd., Cypak AB, General Mills Inc., William Frick & Company, Honeywell International Inc., Scanbuy Inc.
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What Is Covered In The Smart Label Global Market Report?
• Market Size Forecast: Examine the smart label market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the smart label market for a structured understanding.
• Key Players Overview: Analyze major players in the smart label market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart label market.
• Segment Contributions: Evaluate how different segments drive overall growth in the smart label market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart label market.
• Industry Challenges: Identify potential risks and obstacles affecting the smart label market.
• Competitive Landscape: Review strategic developments in the smart label market, including expansions, agreements, and new product launches.
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