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Smart Food and Beverage Label Market to Expand at a CAGR of 17.80% Between 2019-2029 | BIS Research
The adoption of smart labels has witnessed a sharp increase in the food industry as demand for product authentication and the ability to improve food safety continues to rise.
By: BIS Research
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Increased demand for packaged products has been created by the growing population, urbanization, and disposable income. Presently, the changing work conditions and the fast-paced lifestyle have also significantly transformed the packaged food industry. Consumers rely heavily on packaged goods for their everyday lifestyle. The increasing health problems, on the other hand, leave customers uncertain about their buying habits.
Traditional food labels provide information to consumers, such as nutrition details, product ingredients, allergen and storage advice of manufactured products, and weight. Further details of information shall include date by which the consumer should use the product before it is discarded. The best before or use by dates are given as guidelines only. They are not always precise, and dates are not even regulated in some countries. In several ways, even after the use-by date states that the food has expired, the food is still safe to consume. This means that people unnecessarily discard food entirely.
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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.
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.