Sarasota, FL -- (SBWire) -- 01/31/2019 --Zion Market Research has published a new report titled "Time Temperature Indicator Labels Market by Product Type (Color-Based, Barcode-Based), by Label Information (Critical Temperature Indicator (CTI), Critical Time Temperature Indicators (CTTI), and Time Temperature Indicators (TTI)), and by End-User (Food & Beverages, Pharmaceutical, and Chemicals & Fertilizers): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019—2025". According to the report, the global time temperature indicator labels market was valued at approximately USD 54 million in 2018 and is expected to generate around USD 125 million by 2025, at a CAGR of around 12.3% between 2019 and 2025.
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A time temperature indicator or TTI is a special device or smart label that shows the collected time-temperature history of a particular product. Time temperature indicator labels are a part of non-reversible temperature labels. These labels undergo a non-reversible chemical transformation when the trigger temperature is touched, which is tested again at different time intervals. This allows the users to understand the duration that the label was exposed to an undesirable temperature. These labels work perfectly for cold chain shipping companies and allow them to monitor the temperature of perishable shipments. These indicators are commonly used in food and pharmaceutical sectors to indicate exposure of their products to excessive temperatures.
Pharmaceutical products are highly sensitive to temperature and need proper management and care. Therefore, the process of packaging in the pharmaceutical industry is of extreme importance. Haphazard handling of drugs might result in major losses and can even pose risk to patient lives. Time temperature indicator labels have various applications in the food and beverage industry.
By product type, this global market is bifurcated into color-based and barcode-based. By label information, the time temperature indicator labels market is divided into time temperature indicators (TTI), critical time temperature indicators (CTTI), and critical temperature indicator (CTI). The CTTI segment is expected to hold the largest market share in the future, owing to their cost-efficiency and the ease of use. The end-user segment of this market includes food and beverages, pharmaceutical, and chemicals and fertilizers. The pharmaceutical and food and beverages sectors dominated the market in 2018, due to the increase in the use of smart packaging, which helps in analyzing the temperature differences in the products.
By region, the Asia Pacific time temperature indicator labels market is likely to register the highest rate of growth over the forecast time period. This growth can be attributed to the rise in the number of retail stores, e-commerce sites, and super or hypermarkets in developing economies, such as China and India. As per the India Brand Equity Foundation (IBEF), the Indian e-commerce market is projected to reach USD 64 billion by 2020 from USD 38.5 billion in 2017. The region's flourishing retail sector is expected to increase the demand for cold storage, intelligent packaging, and temperature monitoring technology across the region, which, in turn, is likely to further fuel the region's time temperature indicator labels market.
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Some major players of the global time temperature indicator labels market are 3M, Thin Film Electronics ASA, Freshpoint Quality Assurance Ltd., NiGK Corporation, LCR Hallcrest, LLC, Biosynergy, Inc., Temptime Corporation, Delta Trak, Inc., and CCL Industries Inc., among others.
This report segments the global time temperature indicator labels market into:
Global Time Temperature Indicator Labels Market: Product Type Analysis
Color-Based
Barcode-Based
Global Time Temperature Indicator Labels Market: Label Information Analysis
Critical Temperature Indicator (CTI)
Critical Time Temperature Indicators (CTTI)
Time Temperature Indicators (TTI)
Global Time Temperature Indicator Labels Market: End-User Analysis
Food and Beverages
Pharmaceutical
Chemicals and Fertilizers
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Global Time Temperature Indicator Labels Market: Regional Analysis
North America
U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
Middle East and Africa
