Smart Food and Beverage Label Market In-depth Analysis, Business Strategies, and Growth Rate

Posted October 30, 2020 by bisrsrch

Focus on Product Type (Radio Frequency Identification, Near Field Communication, Temperature Sensing Labels, and Others)

Smart labels provide product information in real-time either by scanning a QR code or by a visual effect. In order to let the customers know that food is no longer fit to eat, the label changes its appearance. In reaction to varying levels of oxygen and bacteria inside the packaging, the color changes take place. The smart labels solve problems with the current labeling system. The RFID and NFC labels are giving consumers transparency that was never provided before.

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It provides all the information from the farm to the fork. The use of smart food and beverage label has many advantages that have both short-term and long-term positive implications. One of the key benefits is that it can dramatically minimize food waste using labels, which is a global issue. Every year, people throw away billions of dollars of food that is perfectly fit for consumption. Preventing diseases that are caused by bacteria that grow on food is another of the key benefits. It encompasses both E. coli and salmonella, which are both potentially lethal types of food poisoning. They will not acquire severe bacterial infections if they clearly see that the food is no longer healthy to consume.

Sustainable food production is becoming increasingly difficult with the rising global population, as land and water supplies are strained to keep up with demand. Managing food waste is one sector that could strengthen food security. It has been noted that about one-third of the world's food is lost annually in the supply chain. According to the industry expert, a significant contributor to this waste problem is food spoilage, which poses both an economic and an ethical burden.

Smart food labels that provide information about the quality of the food and transparency in the supply chain can help tackle the issues. The considerable implementation cost is still the barrier for the smart food and beverage label industry as they require expensive equipment to carry out the analysis. Although, the key industry companies are investing significant amounts, they aim to solve this problem by developing a safe and cost-effective monitoring platform that delivers food information that consumers can easily recognize. Much development in the past, such as different forms of time-temperature indicators and smaller and comparatively cheaper RFID labels, has shown that the industry has great potential to tackle the issue and provides a complete solution.

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North America is an emerging market for the smart labeling of food and beverage products. The strong economy of the U.S. and Canada have profoundly influenced the growth of the industry. The presence of large food and beverage companies in the region and regular innovation by the food and beverage sector have increased the demand for smart labeling of beverage and food products. North American exports are substantially large in terms of dairy, food, and beverage. The companies are actively implementing the smart label technology to maintain transparency in the supply chain and provide detailed product information such as ingredients and other product attributes.

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Bhavya Banga
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BIS Research Inc.
FREMONT CA 94538-1686
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Last Updated October 30, 2020