The Spoil Detection-based Smart Labels Market size is estimated at USD 1 billion in 2024, and is expected to reach USD 1.68 billion by 2029, growing at a CAGR of 11.09% during the forecast period (2024-2029).
Smart labels are becoming one of the most popular technologies across the pharmaceutical, food, and cosmetics industries. They are viewed as an ideal means to achieve greater efficiencies and profitability while providing the authenticity of an item and its traceability.
The competitive rivalry in the spoil detection-based smart labels market is high due to the presence of some key players such as Evigence Sensors, Insignia Technologies, and many more. The players in the industry have been able to successfully come up with product developments through continuous research and development by entering strategic partnerships that have enabled them to boost the market growth.
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