Time Temperature Indicators is the device that shows the time-temperature of a product. These indicators are widely used on food, pharmaceutical, and medical products for recording thermal history and indicating the remaining shelf life of the product. Growing demand for sustainable packaging and increasing awareness for quality products are the key factors driving the market growth during the forecast period. In addition, disposable income and increasing demand across various end-use industries such as healthcare, food & beverages, and pharmaceuticals are expected to fuel the market growth during the forecast period.
However, a lack of awareness among end-users is likely to hamper the market growth during the forecast period.
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Based on Product Type, the market is bifurcated into Color-Based and Barcode-Based. The Color-Based segment is estimated to hold the largest market share during the forecast period.
Based on Technology, the market is segmented into Photochemical, Enzymatic, Microbiological, Diffusion, Polymer-Based, and others. The Enzymatic segment witnessed the largest market share during the forecast period due to the rising adoption of intelligent packaging solutions for varied food systems.
Based on Label Information, the market is bifurcated into Critical Temperature Indicator (CTI), Critical Time Temperature Indicators (CTTI), and Time Temperature Indicators (TTI). The Critical Time Temperature Indicators (CTTI) segment is projected to hold the largest market share in the Time-Temperature Indicators market during the forecast period owing to easy access to essential storage information and cost benefits.
Based on Application, the market is bifurcated into Food and Beverages, Healthcare & pharmaceuticals, Chemicals and Fertilizers, and others. The Food and Beverages segment is projected to hold the largest market share in the Time-Temperature Indicators market during the forecast period owing to rising demand for intelligent packaging solutions to monitor the quality & shelf life of perishable food products.
Regionally, the North American region holds the largest revenue share in 2020 and is estimated to register significant growth during the forecast period due to rising demand for interactive and smart packaging solutions.
On the other hand, Asia-Pacific accounted for the significant growth rate during the forecast period owing to the growing population and booming food & beverage industry are likely to boost the regional market growth.
Some of the prominent players are 3M Company, Temptime Corporation, Thin Film Electronics ASA, NiGK Corporation, La-Co Industries Inc., Freshpoint Quality Assurance Ltd., LCR Hallcrest Llc, Biosynergy, Inc., CCL Industries Inc., American Thermal Instruments, Timestrip UK Ltd., Evigence Sensors, DeltaTrak Inc., Bizerba SE & Co. KG and Insignia Technologies Ltd., among others.
The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Time-Temperature Indicators Market by product type, technology, label information, application, and region. In addition, this report introduces the market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.