The time temperature indicator label industry in Korea is poised to expand at a CAGR of 6.3% from 2024 to 2034. The industry in Korea is standing at the threshold of significant prospects, starting with a valuation of US$ 14.0 million in 2024.
There may be a growing need for effective temperature monitoring solutions, with an increase in international trade, especially in the export and import of perishable goods. The sales of time temperature Indicator label in Korea is likely to secure US$ 25.9 million by 2034.
Key Insights - Highlights to Understand Emerging and Fast Growing Opportunities
| Attributes | Details |
|---|---|
| Industry Size in 2024 | US$ 14.0 million |
| Expected Industry Size in 2034 | US$ 25.9 million |
| Forecasted CAGR from 2024 to 2034 | 6.3% |
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The growth of the biotechnology and biopharmaceutical industries often involves the transportation of delicate and temperature sensitive materials. Critical TTIs are essential to maintaining the efficacy of these products.
| Time Temperature Indicator Label in Korea based on Label Information | Critical Time Temperature Indicators |
|---|---|
| Share in % in 2024 | 83.7% |
In terms of label information, the critical time temperature indicators segment is expected to account for a share of 83.7% in 2024. The pharmaceutical industry, with its emphasis on maintaining specific temperature conditions for medications and vaccines, is a significant driver for critical TTIs. The need for precise temperature monitoring increases, as the demand for pharmaceuticals grows.
In the healthcare sector, ensuring the integrity of the supply chain for biologics, vaccines, and other temperature sensitive medical products is crucial. Critical TTIs play a vital role in providing real time information on temperature deviations.
Enzymatic TTIs are known for their accuracy and precision in indicating temperature variations. The use of specific enzymes allows for a more targeted and reliable response to temperature changes, making them suitable for applications requiring high precision.
| Time Temperature Indicator Label in Korea based on Technology | Enzymatic |
|---|---|
| Share in % in 2024 | 35.2% |
Based on technology, the enzymatic segment is expected to account for a share of 35.2% in 2024. Enzymatic TTIs can be customized to respond to specific temperature thresholds, making them versatile for use in various industries. The adaptability contributes to their popularity in applications with diverse temperature requirements.
Enzymatic TTIs play a crucial role in cold chain logistics, where maintaining specific temperature conditions during the transportation of perishable goods is essential. The growth of cold chain logistics in Korea contributes to the demand for enzymatic TTIs.
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The growth of the pharmaceutical and healthcare industries in the region is expected to drive the demand for temperature sensitive monitoring solutions to maintain the integrity of medications and vaccines during storage and transportation.
Supportive government policies and initiatives that promote food safety, quality, and the use of innovative technologies are anticipated to encourage businesses to adopt TTIs.
Ongoing advancements in TTI technologies, such as improvements in accuracy, reliability, and cost effectiveness, are expected to make these solutions more appealing to businesses in the region.
Collaborative efforts within the supply chain, involving local manufacturers, logistics companies, and retailers, to implement better temperature monitoring solutions can drive the adoption of TTIs.
Supportive government policies, incentives, or initiatives that promote food safety, quality, and the use of innovative technologies are expected to encourage businesses in Jeju to adopt TTIs.
There is significant growth in the logistics and distribution sectors in Jeju, which is anticipated to increase the need for effective temperature monitoring solutions to maintain the quality of transported goods.
The time temperature indicator label industry in Korea is influenced by various factors, including technological advancements, regulatory compliance, industry partnerships, and the overall economic landscape. The dynamics are shaped by the demand from industries such as pharmaceuticals, healthcare, food and beverages, and logistics, which rely on temperature sensitive supply chains.
Company Portfolio of Time Temperature Indicator Label Industry in Korea
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| Attribute | Details |
|---|---|
| Estimated Industry Size in 2024 | US$ 14.0 million |
| Projected Industry Size in 2034 | US$ 25.9 million |
| Anticipated CAGR from 2024 to 2034 | 6.3% |
| Historical Analysis of Demand for Time Temperature Indicator Label in Korea | 2019 to 2023 |
| Demand Forecast for Time Temperature Indicator Label in Korea | 2024 to 2034 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing the demand for Time Temperature Indicator Label in Korea, Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Providers in Korea |
| Key Provinces Analyzed while Studying Opportunities in Time Temperature Indicator Label in Korea | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
| Key Companies Profiled | 3M Company; CCL Industries Inc.; TIP Temperature Products; Delta Trak; Vanprob Solutions; Biosynergy, Inc.; Evigence Sensors; Insignia Technologies Ltd.; Liberty Marking Systems; Timestrip UK LTD |
The time temperature indicator label industry in Korea is to be valued at US$ 14.0 million by 2024.
The time temperature indicator label ecosystem in Korea is anticipated to incline at a CAGR of 6.3% from 2024 to 2034.
Demand for time temperature indicator label in Korea is expected to reach US$ 25.9 million by 2034.
Critical time temperature indicators are expected to be highly preferred, comprising 83.7% of total demand in 2024.
Enzymatic to boost the demand for the time temperature indicator label in Korea, comprising 35.2% of all end uses.
1. Executive Summary
1.1. Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Industry Analysis and Outlook 2019 to 2023 and Forecast, 2024 to 2034
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2019 to 2023
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2024 to 2034
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Product Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product Type, 2019 to 2023
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product Type, 2024 to 2034
5.3.1. Colour Based
5.3.1.1. Irreversible
5.3.1.2. Reversible
5.3.2. Barcode Based
5.4. Y-o-Y Growth Trend Analysis By Product Type, 2019 to 2023
5.5. Absolute $ Opportunity Analysis By Product Type, 2024 to 2034
6. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Label Information
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Label Information, 2019 to 2023
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Label Information, 2024 to 2034
6.3.1. Critical s (CTI)
6.3.2. Time s (TTI)
6.3.3. Critical Time s (CTTI)
6.4. Y-o-Y Growth Trend Analysis By Label Information, 2019 to 2023
6.5. Absolute $ Opportunity Analysis By Label Information, 2024 to 2034
7. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Technology
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Technology, 2019 to 2023
7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Technology, 2024 to 2034
7.3.1. Microbiological
7.3.2. Diffusion
7.3.3. Polymer-based
7.3.4. Photochemical
7.3.5. Enzymatic
7.4. Y-o-Y Growth Trend Analysis By Technology, 2019 to 2023
7.5. Absolute $ Opportunity Analysis By Technology, 2024 to 2034
8. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By End-use Industry
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End-use Industry, 2019 to 2023
8.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End-use Industry, 2024 to 2034
8.3.1. Pharmaceutical
8.3.2. Food & Beverage
8.3.3. Chemical & Fertilizers
8.4. Y-o-Y Growth Trend Analysis By End-use Industry, 2019 to 2023
8.5. Absolute $ Opportunity Analysis By End-use Industry, 2024 to 2034
9. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Region
9.1. Introduction
9.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2019 to 2023
9.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2024 to 2034
9.3.1. South Gyeongsang
9.3.2. North Jeolla
9.3.3. South Jeolla
9.3.4. Jeju
9.3.5. Rest of Korea
9.4. Market Attractiveness Analysis By Region
10. South Gyeongsang Time Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
10.2.1. By Product Type
10.2.2. By Label Information
10.2.3. By Technology
10.2.4. By End-use Industry
10.3. Market Attractiveness Analysis
10.3.1. By Product Type
10.3.2. By Label Information
10.3.3. By Technology
10.3.4. By End-use Industry
10.4. Key Takeaways
11. North Jeolla Time Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
11.2.1. By Product Type
11.2.2. By Label Information
11.2.3. By Technology
11.2.4. By End-use Industry
11.3. Market Attractiveness Analysis
11.3.1. By Product Type
11.3.2. By Label Information
11.3.3. By Technology
11.3.4. By End-use Industry
11.4. Key Takeaways
12. South Jeolla Time Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
12.2.1. By Product Type
12.2.2. By Label Information
12.2.3. By Technology
12.2.4. By End-use Industry
12.3. Market Attractiveness Analysis
12.3.1. By Product Type
12.3.2. By Label Information
12.3.3. By Technology
12.3.4. By End-use Industry
12.4. Key Takeaways
13. Jeju Time Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
13.2.1. By Product Type
13.2.2. By Label Information
13.2.3. By Technology
13.2.4. By End-use Industry
13.3. Market Attractiveness Analysis
13.3.1. By Product Type
13.3.2. By Label Information
13.3.3. By Technology
13.3.4. By End-use Industry
13.4. Key Takeaways
14. Rest of Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
14.2.1. By Product Type
14.2.2. By Label Information
14.2.3. By Technology
14.2.4. By End-use Industry
14.3. Market Attractiveness Analysis
14.3.1. By Product Type
14.3.2. By Label Information
14.3.3. By Technology
14.3.4. By End-use Industry
14.4. Key Takeaways
15. Market Structure Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Market Share Analysis of Top Players
15.3.1. By Regional
15.3.2. By Product Type
15.3.3. By Label Information
15.3.4. By Technology
15.3.5. By End-use Industry
16. Competition Analysis
16.1. Competition Deep Dive
16.1.1. 3M Company
16.1.1.1. Overview
16.1.1.2. Product Portfolio
16.1.1.3. Profitability by Market Segments
16.1.1.4. Sales Footprint
16.1.1.5. Strategy Overview
16.1.1.5.1. Marketing Strategy
16.1.1.5.2. Product Strategy
16.1.1.5.3. Channel Strategy
16.1.2. CCL Industries Inc.
16.1.2.1. Overview
16.1.2.2. Product Portfolio
16.1.2.3. Profitability by Market Segments
16.1.2.4. Sales Footprint
16.1.2.5. Strategy Overview
16.1.2.5.1. Marketing Strategy
16.1.2.5.2. Product Strategy
16.1.2.5.3. Channel Strategy
16.1.3. TIP Temperature Products
16.1.3.1. Overview
16.1.3.2. Product Portfolio
16.1.3.3. Profitability by Market Segments
16.1.3.4. Sales Footprint
16.1.3.5. Strategy Overview
16.1.3.5.1. Marketing Strategy
16.1.3.5.2. Product Strategy
16.1.3.5.3. Channel Strategy
16.1.4. Delta Trak
16.1.4.1. Overview
16.1.4.2. Product Portfolio
16.1.4.3. Profitability by Market Segments
16.1.4.4. Sales Footprint
16.1.4.5. Strategy Overview
16.1.4.5.1. Marketing Strategy
16.1.4.5.2. Product Strategy
16.1.4.5.3. Channel Strategy
16.1.5. Vanprob Solutions
16.1.5.1. Overview
16.1.5.2. Product Portfolio
16.1.5.3. Profitability by Market Segments
16.1.5.4. Sales Footprint
16.1.5.5. Strategy Overview
16.1.5.5.1. Marketing Strategy
16.1.5.5.2. Product Strategy
16.1.5.5.3. Channel Strategy
16.1.6. Biosynergy, Inc.
16.1.6.1. Overview
16.1.6.2. Product Portfolio
16.1.6.3. Profitability by Market Segments
16.1.6.4. Sales Footprint
16.1.6.5. Strategy Overview
16.1.6.5.1. Marketing Strategy
16.1.6.5.2. Product Strategy
16.1.6.5.3. Channel Strategy
16.1.7. Evigence Sensors
16.1.7.1. Overview
16.1.7.2. Product Portfolio
16.1.7.3. Profitability by Market Segments
16.1.7.4. Sales Footprint
16.1.7.5. Strategy Overview
16.1.7.5.1. Marketing Strategy
16.1.7.5.2. Product Strategy
16.1.7.5.3. Channel Strategy
16.1.8. Insignia Technologies Ltd.
16.1.8.1. Overview
16.1.8.2. Product Portfolio
16.1.8.3. Profitability by Market Segments
16.1.8.4. Sales Footprint
16.1.8.5. Strategy Overview
16.1.8.5.1. Marketing Strategy
16.1.8.5.2. Product Strategy
16.1.8.5.3. Channel Strategy
16.1.9. Liberty Marking Systems
16.1.9.1. Overview
16.1.9.2. Product Portfolio
16.1.9.3. Profitability by Market Segments
16.1.9.4. Sales Footprint
16.1.9.5. Strategy Overview
16.1.9.5.1. Marketing Strategy
16.1.9.5.2. Product Strategy
16.1.9.5.3. Channel Strategy
16.1.10. Timestrip UK LTD
16.1.10.1. Overview
16.1.10.2. Product Portfolio
16.1.10.3. Profitability by Market Segments
16.1.10.4. Sales Footprint
16.1.10.5. Strategy Overview
16.1.10.5.1. Marketing Strategy
16.1.10.5.2. Product Strategy
16.1.10.5.3. Channel Strategy
17. Assumptions & Acronyms Used
18. Research Methodology
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Time Temperature Indicator Label Industry Analysis in Korea
