Global Co2 Indicator Labels Market Size (2023 - 2030)

The Co2 Indicator Labels Market is valued at USD 61.43 million in 2024 and is projected to reach a market size of USD 5531.64 million by 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 90.2%.

Industry Overview:

Over the past two decades, focused efforts have been made worldwide in the field of packaging to maintain the high level of packaging. As a result, active, smart, and intelligent packaging technologies have become more popular. The desire for packaging innovations that may increase food products' shelf lives increased as a result of growing consumer awareness of the hygiene of food packaging. Co2 sensing is one of the intelligent packaging technologies now in use. It is well recognised that an increase in CO2 gas levels is one of the most potent signs of food degradation. Particularly in Modified Atmosphere Packaging types, this impact is seen. This increases the demand for goods like CO2 indicator levels, which effectively track CO2 levels in packaged foods and maintain records of them along the production chain until the food reaches the consumer. The market for Co2 indicator labels is estimated to increase steadily over the projected period due to their great efficiency in detecting the presence of CO2 in the package. Over the next ten years, the global market for CO2 indicator labels will see a mainly favourable outlook as more nations start to feel more secure about investing in cutting-edge packaging technology.

COVID-19 Impact:

COVID-19 had a deep impact on the Co2 Indicator Labels Market. In the past ten years, there has been a substantial change in the worldwide packaging market as businesses use new technology to guarantee product safety. The rise of the global market for CO2 indicator labels is anticipated against the backdrop of the anticipated 7%–8% expansion of the intelligent packaging market globally. The need for packaging innovations has been driven by the demand for solutions that increase the shelf life of the product in several locations, including North America and Western Europe. There is predicted to be an increase in demand for Co2 indicator labels since measuring the level of CO2 is one of the best techniques to assess the degree of food spoilage. Numerous innovations in the sector have been made possible by ongoing research and development carried out by businesses and academic institutions. Manufacturers and brand owners have been fast to implement a variety of clever packaging technologies that have recently been developed into their products. In addition, the expansion of online food retail has stimulated demand for CO2 indicator labels. Despite its effectiveness, the growth of the global market for CO2 indicator labels may be constrained by the fact that many nations do not view modern packaging methods as a practical alternative. The local market's readiness to adopt a packaging technique is heavily influenced by the preconceptions of the typical consumer. As a result, it is projected that the global market for Co2 indicator labels will offer tremendous growth potential if brand owners implement effective marketing tactics.

MARKET DRIVERS

Advancements in sensor technology is driving growth in Co2 Indicator Labels Market

To detect, measure, or indicate certain physical values, a sensor is a device that transforms the physical quantities into electrical signals. The actuator is turned on and starts working when the sensor senses and communicates data. After receiving the signal, the actuator decides what action it wants to do in order to react to its surroundings. An intelligent sensor is a sensor system that can sense, gather, autonomously assess, examine, and interpret data from the outside environment. Multi-component integrated circuits called "smart sensors" have the ability to collect, process, exchange, store, and transmit information. They are components that incorporate drivers, interfaces, microprocessors, sensors, communication modules, and software algorithms at the system level. As well as sensory fusion, self-compensating, diagnostic, and flexible communication capacities.

Growth of intelligent packing is driving growth in Co2 Indicator Labels Market

When the cold chain is interrupted, food goods frequently become damaged and spread disease. The use-by date on food items reveals nothing about how the product has been stored or whether there have been any temperature changes. The product quality and freshness are displayed and guaranteed by the freshness indicator labels. As a result, it is anticipated that during the projected period it will promote the use of Co2 indication labels.

MARKET RESTRAINTS

High cost of capital is restraining growth in Co2 Indicator Labels Market

The impact of expensive technology extends beyond the effects it has on the particular patient populations it is applied to. When weighing the costs and benefits of technological advancements for society, it is important to consider their various social, economic, and ethical ramifications. We present a number of mechanisms that led to the development of high-cost technology, starting from an economic standpoint. These mechanisms assist us to understand some of the traits of high-cost technology, such as its emphasis on quality enhancement rather than economy.

CO2 INDICATOR LABELS MARKET REPORT COVERAGE:

Co2 Indicator Labels market segmentation – By Application

• Sliced and cooked meat
• Cheese
• Bread
• Airline meals
• Catering Pack
• Others

In terms of application Co2 Indicator Labels market can be classified into Sliced and cooked meat, Cheese, Bread, Airline meals, Catering Pack, and Others. The freshness indicator labels are in line with rules for smart packaging, which assure food safety, and as a result, the growth of the global market for Co2 indicator labels is anticipated to accelerate over the projected period. The expansion of the Co2 indicator labels market is anticipated to be constrained during the projected period by limited consumer awareness of the market for Co2 indicator labels in emerging economies. Overall, it is anticipated that the market for Co2 indicator labels will expand favourably over the forecast period.

Co2 Indicator Labels market segmentation – By Region

1. North America
2. Europe
3. Asia-Pacific
4. South America
5. Middle East and Africa

Due to a higher level of consumer acceptability for sophisticated packaging technologies, the North American area is predicted to dominate the global market for CO2 indicator labels. In terms of both value and volume, the Western European Co2 indicator label market is anticipated to follow closely. The reason for this is because more individuals are choosing case-ready meals. For instance, more than half of all the case-ready meals consumed in Europe are in the United Kingdom. More consumers are choosing to order food online thanks to the expansion of online food retail. This might create considerable potential prospects for the market for Co2 indicator labels worldwide, particularly in developing nations like China and India. During the projection period, it is also projected that countries in Africa would considerably contribute to the growth of the Co2 indicator labels market.

Co2 Indicator Labels market segmentation – By Company

Insignia Technologies Ltd. and PreSens Precision Sensing GmbH are two of the major companies competing in the global market for CO2 indicator labels. These players have a major share in the market. The barriers to entry in the Co2 Indicator Labels market are very high which makes it difficult for smaller players to enter.

NOTABLE HAPPENINGS IN THE CO2 INDICATOR LABELS MARKET IN THE RECENT PAST:

1. In April 2022, the ALTAIR io 4 Gas Detection Wearable devices were unveiled by MSA Safety Incorporated, a leader in the creation of safety solutions that safeguard people and building infrastructures. The hardware component of a cloud-ready technology suite dubbed the Connected Work Platform by MSA is represented by the ALTAIR io 4 devices.
2. In September 2022, NOVOSENSE launched multi-chip sensor technology which would be used in automotive and industrial market.