A processor implemented method, comprising: obtaining a rate kinetic data associated with a food item enclosed in a networked framework, via one or more hardware processors, wherein the rate kinetic data comprises a time-series data having a plurality of attributes indicative of freshness of the food item; selectively partitioning the rate kinetic data into a plurality of post-harvest lifecycle stages of the food item based on a reaction rate order associated with one or more time intervals of each of the plurality of post-harvest lifecycle stages, via the one or more hardware processors, wherein the reaction rate order associated with the one or more time intervals of each of the plurality of post-harvest lifecycle stages is determined by a trained rate kinetic model, by: converting the time-series data into an integrated form of zero, first and second order reaction rate equations in a sequential order to obtain a plot of rate of change of concentration terms associated with the integral form of the trained rate kinetic model; obtaining a value of coefficient of determination from the plot of the integral form of zero, first and second order reaction rates in the sequential order; and determining the order of reaction rate based on a comparison of the value of the coefficient of determination with a threshold value of the coefficient of determination, wherein the order of the reaction rate is indicative of a nature of reaction responsible for biochemical changes in the food item during a post-harvest lifecycle stage of the food item; estimating, based at least on the reaction rate order associated with the one or more time intervals and the plurality of attributes, a plurality of values of shelf-life of the food item during each of the one or more time intervals, via the one or more hardware processors; aggregating a set of values of the shelf-life from amongst the plurality of values of the shelf-life corresponding to each attribute of the plurality of attributes, via the one or more hardware processors; and selecting, from amongst the set of values of the shelf-life, a minimum value of shelflife as the food freshness value of the food item, via the one or more hardware processors. obtaining a rate kinetic data associated with a food item enclosed in a networked framework, via one or more hardware processors, wherein the rate kinetic data comprises a time-series data having a plurality of attributes indicative of freshness of the food item; selectively partitioning the rate kinetic data into a plurality of post-harvest lifecycle stages of the food item based on a reaction rate order associated with one or more time intervals of each of the plurality of post-harvest lifecycle stages, via the one or more hardware processors, wherein the reaction rate order associated with the one or more time intervals of each of the plurality of post-harvest lifecycle stages is determined by a trained rate kinetic model, by: converting the time-series data into an integrated form of zero, first and second order reaction rate equations in a sequential order to obtain a plot of rate of change of concentration terms associated with the integral form of the trained rate kinetic model; obtaining a value of coefficient of determination from the plot of the integral form of zero, first and second order reaction rates in the sequential order; and determining the order of reaction rate based on a comparison of the value of the coefficient of determination with a threshold value of the coefficient of determination, wherein the order of the reaction rate is indicative of a nature of reaction responsible for biochemical changes in the food item during a post-harvest lifecycle stage of the food item; converting the time-series data into an integrated form of zero, first and second order reaction rate equations in a sequential order to obtain a plot of rate of change of concentration terms associated with the integral form of the trained rate kinetic model; obtaining a value of coefficient of determination from the plot of the integral form of zero, first and second order reaction rates in the sequential order; and determining the order of reaction rate based on a comparison of the value of the coefficient of determination with a threshold value of the coefficient of determination, wherein the order of the reaction rate is indicative of a nature of reaction responsible for biochemical changes in the food item during a post-harvest lifecycle stage of the food item; estimating, based at least on the reaction rate order associated with the one or more time intervals and the plurality of attributes, a plurality of values of shelf-life of the food item during each of the one or more time intervals, via the one or more hardware processors; aggregating a set of values of the shelf-life from amongst the plurality of values of the shelf-life corresponding to each attribute of the plurality of attributes, via the one or more hardware processors; and selecting, from amongst the set of values of the shelf-life, a minimum value of shelflife as the food freshness value of the food item, via the one or more hardware processors.