Future Market Insights (FMI) delivers key insights on the global security labels market in its published report, titled “Security Labels Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2027.” Globally, the revenue generated from the sales of security labels is estimated to be around US$ 23.4 Bn in 2018, and is projected to expand at a CAGR of 5.3%, during the forecast period 2018-2027. This can be attributed to numerous factors, about which Future Market Insights offers thorough insights and forecast in the security labels market report.
According to the International AntiCounterfeiting Coalition (IACC), counterfeited goods account for about 5-7% of the global trade, which amounts to approximately $600 Bn. Counterfeiting results in ruining consumer confidence for the brand and can pose serious health risks in many cases. To avoid all this hassle, manufacturers are incorporating security labels in packaging. Security labels address the need for anti-counterfeiting and brand protection in various end-use industries including food & beverages, pharmaceuticals, personal care & cosmetics, electrical & electronics, and more. Security labels include a variety of labels including barcode labels, holographic labels, RFID labels, and NFC tags among others.
Manufacturers in the North American region are employing security labels such as RIFD labels in the packaging of medicines, owing to the emphasis of Food & Drug Administration (FDA) towards the adoption of RFID in pharmaceutical packaging to curb counterfeiting occurring throughout the supply chain. Beverage manufacturers are incorporating security labels on the bottles. Manufacturers of alcoholic beverages in Europe are integrating their bottles with security labels such as QR code labels to oversee production, distribution, and sales of alcoholic beverages. This initiative is expected to curb counterfeiting in beverage packaging as the consumer will be able to detect whether the product is authentic or forged.
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Security Labels Market: FMI Key Findings
- Among the various product types, the barcode segment is witnessing higher growth and is projected to have a positive outlook during the forecast period. It is one of the most commonly used security labels for everyday labeling needs in various packaging applications.
- Plastic security labels hold a significant share in the security labels market, but with the rising environmental concerns, manufacturers are inclining towards paper labels for manufacturing security labels.
- The food & beverages segment is projected to be the most attractive segment during the forecast period. The demand generated from the food & beverages sector is expected to experience high growth, which can be attributed to the growing demand for packaged food and rising concerns about tamper-evident and counterfeited products. Manufacturers involved in beverage packaging are also employing security labels such as barcodes and holograms to incorporate security features in their packaging solutions.
- The boxes & cartons segment in the global security labels market is the most attractive application type of security labels, followed by the bags & pouches segment.
Emerging Economies Expected to Fuel Demand for Security Labels
The Asia Pacific (excluding Japan) region is exhibiting immense growth opportunities for the security labels market. This can be attributed to the increasing penetration of a variety of retail packaging formats. Manufacturers are now more concerned about creating packaging solutions which cannot be replicated by their competitors. This has led to the increased usage of security labels which have unique distinguishing features, in the FMCG sector particularly. With the increased consumer spending on lifestyle products, the overall demand for labeling solutions is expected to propel, which is expected to fuel the growth of the security labels market. Overall, the Asia security labels market is anticipated to show a positive outlook throughout the decade. Latin America, as well as the Middle East & Africa, also represent attractive opportunities for growth.
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Security Labels Market: Key Players
The key players in the global security labels market are 3M Company, Avery Dennison Corporation, CCL Industries Inc., Honeywell International Inc., UPM Raflatac, Inc., OpSec Security, Inc., Tesa SE, Brady Corporation, Covectra, Inc., and Mega Fortris (Malaysia) Sdn. Bhd. Many local and unorganized players are anticipated to contribute to the global security labels market during the forecast period.