Group items tagged

food-traceability-market

The Global Smart Labels Market reached a value of US$ 5.9 Billion in 2017. The market is further projected to reach US$ 11.7 Billion by 2023, exhibiting a CAGR of 12.1% during 2018 - 2023. Smart labels act as an innovative label through which anyone can track information about a product through their smart devices. These smart labels not only carry information about the product and the ingredients used in it but also provide information about manufacturers, date of manufacturing and other crucial information. Different industries are currently using smart labels, such as manufacturing, food and beverage, healthcare, automotive, retail, security, FMCG, etc. These smart labels also offer smart traceability of a product and help in maintaining its authenticity. A number of factors are currently driving the market for smart labels.