VALLEY COTTAGE, N.Y. – Time temperature indicator labels are becoming integral component of cold-chain distribution of products that are temperature-sensitive. Traditional smart label technologies, such as RFID (radio-frequency identification), NFC (near-field communication), and data loggers, are expensive, compelling industrial operators to shift towards time temperature indicator labels as a cost-efficient means for temperature monitoring.
The global market of time temperature indicator labels is expected to be propelled by increasing demand from pharmaceutical industry, especially in vvm (Vaccine vial monitor) and biological drugs. Critical time temperature indicator labels remain in-demand with over 80% share, driven by government norms for pharmaceuticals cold chain logistics.
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North America, owing to strict regulatory norms regarding proper cold-chain logistics in tandem with rising exports, accounts for major share. Whilst Asia Pacific exclusive Japan (APEJ) is exhibiting fastest growth, primarily attributed to flourishing food & beverage industry. As per FMI, global time temperature indicator labels market is projected to progress at worthwhile CAGR of above 9% over forecast period (2019-2029).
Demand Uptick in Pharmaceuticals and Food & Beverages
Pharmaceutical products are highly sensitive to temperature, and mismanagement of drugs can lead to significant losses, as well as pose threat to patients’ lives. FMI finds that adoption of time temperature indicator labels in pharmaceuticals is expected to create an absolute dollar opportunity of ~ US$ 73.1 Mn throughout forecast period. Further, use of time temperature indicator labels in pharmaceuticals sector in North America is estimated to contribute to over 70%.
Preview Analysis2019 Analysis and Review of Time Temperature Indicator Labels Market by Label Information – Critical Temperature Indicators (CTI), Critical Time Temperature Indicators (CTTI), and Time Temperature Indicators (TTI) for 2019 – 2029:https://www.futuremarketinsights.com/reports/time-temperature-indicator-labels-market
Time temperature indicator changes color or presents information denoting the safe to consume time for food products after the packaging has been opened, while also providing information about ambient temperature of the package. Various multinational food chains are striving to expand their product portfolio to neighboring regions. As such, time temperature indicator labels portray crucial role in ensuring safety and quality of products. Furthermore, regulatory bodies, including the WHO, and the FDA, are imposing temperature monitoring techniques on logistics of pharmaceuticals and food & beverage items, thereby fueling the market of time temperature indicator labels.
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Analysts at FMI suggest that “Time temperature indicator labels are ideal for cold-chain shipping firms for allowing secured transportation of delicate items. Conventional smart labels are cost-prohibitive, as such, small- and medium-size enterprises (SME) are turning to cheaper alternatives, such as time temperature indicator labels. Further, market players are launching digitally-enabled time temperature indicator labels for better user experience.”
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