According to a report by CRI (China Research and Intelligence) Institute, the Chinese market size for Chinese medicinal herbs reached 91.6 billion yuan in 2023, with a year-on-year growth of 3.51%. It is projected that the market size will further expand to approximately 300 billion yuan by 2024, indicating the tremendous market potential and sustained growth trend in the Chinese medicinal herb industry.
Due to the lengthy industry chain of Chinese medicinal herbs involving cultivation, collection, processing, and sales, the integration of the industry chain is becoming an inevitable trend. By strengthening cooperation and coordination among the different sectors, the production efficiency and product quality of Chinese medicinal herbs can be enhanced.
With the continuous development of science and technology, the Chinese medicinal materials industry is also constantly innovating.RFID technology, an automated identification technology, has a significant role to play in the Chinese medicinal herb industry. RFID tags provide an innovative solution for quality traceability. Using RFID technology, the entire life cycle of herbs can be monitored and tracked in real time.
The implementation of RFID tags for asset tracking enables real-time monitoring and recording of crucial information, contributing to the overall improvement of the Chinese medicinal herb industry. By embracing RFID technology and integrating it into the industry chain, stakeholders can further optimize their operations, enhance consumer confidence, and drive the sustainable growth of this promising sector.
