The Time Temperature Indicator Labels Market was valued at US$ 43.6 million in 2017, and is expected to increase to US$ 140.8 million by 2028, registering a CAGR of 11.5% over the forecast period (2018–2028), according to Time Temperature Indicator Labels Market Report, by Product Type (Color-based and Barcode-Based), by Label Information (Critical Temperature Indicator (CTI), Critical Time Temperature Indicators (CTTI), and Time Temperature Indicators (TTI)), by End User (Food and Beverages, Pharmaceutical, and Chemicals and Fertilizers), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa).
The food packaging industry has witnessed advancement in terms of packaging, which ensures optimum quality and hygiene. This trend is expected to grow at a significantly higher pace, owing to multiple factors such as decreasing cost of manufacturing of the time temperature indicator labels. This is expected to aid in growth of the market. Adoption of these labels has witnessed high adoption in emerging economies on account of mass production. This growth in adoption can be attributed to increasing level of awareness among consumers. Technological advancements such as ease of manufacturing sensors are aiding in reducing manufacturing cost of sensors, hence a large number of manufacturers are expected to explore opportunities in the market and players from emerging economies in the regions such as Asia Pacific and Africa are expected to invest in mass production of the time temperature indicator labels.
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Key Trends and Analysis of the Global Time Temperature Indicator Labels Market: