Security Labels Market- Global Industry Size, Share, Trends, Analysis and Forecast 2018 – 2023

07/mag/2018 08:05:29 Monica Nerkar Contatta l'autore

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The demand for security labels is increasing rapidly and is estimated to grow at the same pace over the forecast period owing to exponential growth in the food & beverage sector. The security label is attached to the products or bundle of products that provide security. These labels secure the confidential information from getting leaked. . The global security labels market is estimated to grow at a CAGR of 5.3% during the estimated period, 2017-2023.

The global security labels market is consists of North America, Europe, Asia Pacific, and Rest of the World (RoW). The Asia Pacific region dominates the global security labels market on account of rapid growth in the retail industry.  As the retail industry increases, the demand for the security labels increases mainly due to the rising the incidence of theft in the retail industry. Growing manufacturing activities such as consumer good, also have the positive influence on ther growth of the market.  As disposable income increases, the purchase power of the consumer increases which creating a huge opportunity to the global security labels market. China, Indonesia, India, and Japan are the crucial contributor to Asia Pacific market. China accounts for the largest share of the regional market due to the largest demand from the food & beverage, and good consumer industry.

North America holds the second largest of the the global security labels market on the basis of Increase in the demand for packaged foods & beverages, including ready-to-eat meals, frozen meals, and snack foods. The continuous growth in the pharmaceutical industry is also stimulating the growth of the security labels in its labeling application. As per IMS Market prognosis, the U.S. was the leading market in terms of pharmaceutical spending per capita in 2016, followed by Japan and Canada. The U.S. is the major contributor to the North American market. The Middle East is another major market in terms of demand for security labels mainly due to growing industrial base and high growth in retail sector.

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Global security labels market is segmented based on Identification method, product form, application, and region. On the basis of the Identification method, the market is segmented into the RFID, barcode, holographic, and others. The barcode segmented accounted for the largest market share in 2016. Barcodes are largely used in various industries such as consumer good, pharmaceuticals, transportation & logistics, and retail for keeping track of their products as well as for locating outgoing shipments and equipment. It is cost-effective and most reliable method for gathering any kind of necessary data. RFID is expected to grow at the highest CAGR during the forecast period mainly because it is replacing the barcodes in supply chains. RFID contain electronically stored information. This can be attached to the products or even human beings. It can be read wirelessly and without line of sight, and it contains more information than barcodes. On the basis of the product form, the market has been segmented into the reels and sheets. Sheets accounted for the largest market share in 2016.

On the basis of the application, the market is further segmented into food & beverages, pharmaceuticals, consumer goods, and others. The food & beverage is dominating the global the security label market. Security labels have extensive applications in the F&B industry due to increasing importance of labeling in the packaged and processed food industry. The food and beverage packaging is regulated by several government policies and regulations, which makes the labeling and barcode essential both to the consumers and sellers. Many beverage manufacturers use security labels on bottles due to aesthetic appeal, brand positioning, and durability. The pharmaceutical sector is another major application in the global market as result of increasing concern about drug counterfeit and safety, growing concern to reduce operational cost in the healthcare, and rising incidence of medical device theft.

The global security labels market is expected to grow at a CAGR of 5.3% during the forecast period.

Some of the prominent players in the security labels market are  3M Company (U.S.), Avery Dennison Corporation (U.S.), CCL Industries Inc. (Canada), UPM (Finland), Honeywell International Inc. (U.S.), Tesa SE Group (Germany), Data Label Inc. (U.S.), Colour Data UK Ltd (U.K.), Holosafe Security Labels (India), Label Lock (U.K), (Canada), Star Label Products (U.S.), Watson Label Products (U.S.), Rako Security Label Produktsicherungs GmbH (Germany), and Seiko Holdings Corporation (Japan)

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