Smart Labels market growth is expected to reach a CAGR of 18.41% by 2028 with a market value of US$22827 million. Established by the Grocery Manufacturers Association (GMA), the Smart Labels Market has gained prominence in the packaging industry due to the growth in demand for product information from smart devices. These labels act as innovative transparent labels coupled with digital technology and smart devices that allow consumers to access detailed information about their products. The growth of the global Smart Labels Market will allow consumers to have improved visibility of information related to the products purchased. Due to corporate security concerns, an increasing demand for effective anti-theft devices is contributing to a significant increase in demand for the global smart label industry.
In addition, a significant increase in consolidated industries and technological advances related to usage in various applications such as healthcare and pharmaceutical, logistics, retail inventory, food and beverage and others have further fueled the growth of the global smart label market. Therefore, the features of smart labels, such as real-time location tracking, reprogrammability, and others like simultaneous identification and detailed information, are expected to boost demand for the global smart label industry across various sectors over the forecast period.
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The global smart label market has seen increasing adoption in the packaging industry as digital technology and smart devices enable customers to get detailed information about products.
The global smart labels market is segmented on the basis of product type, application, end-use industry, and geography.
Based on the type, it is classified into Radio Frequency Identification (RFID), electronic items…