Security Labels Market is estimated to perceive enormous growth by 2023 registering 5.3% CAGR
Global Security Labels Market Size, Share, Growth, Analysis: By Identification Method (RFID, Barcode, Holographic, Others), Product Form (Reels and Sheets), Application (Food & Beverages, Pharmaceuticals, Consumer Goods, Others) And Region – Forecast 2023
Security Labels Market Overview
Security label technology embedded in the packaging is a smart defensive tool that enables authenticity verification layers to ensure total security of the product. Different types of security labels are utilized depending on the kind of applications such as food & beverages, manufacturing & retail, healthcare & pharmaceuticals, automotive, logistics, and FMCG among others.
Acknowledging the exponential traction, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the global security labels market is estimated to perceive enormous growth by 2023 registering 5.3% CAGR throughout the forecasted period (2017 – 2023).
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The demand for security labels is increasing rapidly mainly due to the exponential growth in the food & beverage sector. The huge uptake of security labels drives the market demand and growth on the global platform. Various businesses use security labels due to the aesthetic appeal, brand positioning, and anti-counterfeiting.
Key players leading the global security labels market include Avery Dennison Corporation (U.S.), 3M Company (U.S.), CCL Industries Inc. (Canada), Honeywell International Inc. (U.S.), UPM (Finland), Tesa SE Group (Germany), Colour Data UK Ltd (U.K.), Data Label Inc. (U.S.), Holosafe Security Labels (India), Polylabel.com (Canada), Label Lock (U.K), Star Label Products (U.S.), Rako Security Label Produktsicherungs GmbH (Germany), Watson Label Products (U.S.), and Seiko Holdings Corporation (Japan) among others.
Global Security Labels Market – Segmentations
The global security labels market is segmented into four key dynamics;
By Identification Method: RFID, Barcode, and Holographic among others.
By Product Form: Reels and Sheets
By Application: Food & Beverages, Pharmaceuticals, Consumer and Goods among others.
By Regions: Asia Pacific, North America, Europe, and Rest-of-the-World.
Security Labels Market – Regional Analysis
The Asia Pacific region leads the global Security Labels Market registering a fabulous growth record. Factors such as the growing markets mainly in India, Japan, China, and South Korea substantiate the growth of the regional market.
The broad adoption of these labels across the manufacturing sector is one of the key forces behind the growth of the regional market. Besides, the rapid economic growth allowing substantial investments in the retail industry along with the growing manufacturing industries and the security concerns rising alongside induce the demand for smart labels in the region.
The security labels market in the North American region is witnessing a rapid expansion stage due to the growing markets mainly in the US and Canada. Technological advancement and increased adoption of security labels across various industry verticals are some of the key driving forces substantiating market growth.
Moreover, augmented demand and the availability of quality security labels are driving the market growth in this region. The continuous increase in the pharmaceutical industry is also stimulating the growth of the security labels in the North American markets.
The Middle Eastern region is emerging as another lucrative market for security labels, following North America closely. Factors such as the vast demand mainly due to the growing industrial base and high growth in the retail sector foster the market growth in this region. Furthermore, the increasing adoption of security labels by small and medium scale businesses is stimulating the market growth in the MEA region.
Global Security Labels Market – Competitive Analysis
The highly competitive market of security labels appears to be fragmented characterized by the presence of several small and large-scale players competing for a fair share in the market. Matured players incorporate strategic initiatives such the acquisition, partnership, collaboration, expansion, and product & technology launch to gain a competitive edge and thus to maintain their positions in the market.
Key players strive to develop the unrivaled technology and features that can strengthen the exclusivity of the security systems further. Vendors employ a continuous improvement strategy to analyze and update products, implementing improvements and trying to meet the changing needs of consumers by launching new technologies. These key players are investing heavily in research and development projects to develop advanced technology and processes.
Industry/ Innovation/ Related News
December 12, 2018 –– Uniqolabel (India) a start-up offering a multi-layered patented technology which provides true protection against counterfeiting announced the incorporation of a patented multi-layered security label for brands to include on the products or packaging.
Uniqolabel’ s labels have security elements like a proprietary-always unique random 2D code, a tamper-evident hologram, and a randomly created security feature derived from natural entropy. Few labels also include a hidden code. Uniqolabel’s flagship product uses mobile, cryptography and computer vision tech to help brands in their supply chain.
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