The report "Security Labels Market by Type (Branding, Identification, Information), Identification method (Bar code, Radio Frequency Identification, Holographic) Composition (Facestock, Release Liner, Adhesive), Form (Reel, Sheet) & Application - Forecast to 2020", published by MarketsandMarkets, The market size is projected to grow from USD 20.61 Billion in 2015 to USD 26.47 Billion by 2020, at a CAGR of 5.13% from 2015 to 2020.
The global Security Labels Market is driven by factors such as strong growth in the food & beverage industry and rising demand in consumer durables, retail, and pharmaceutical supply industries. Security labels are used to provide authentic protection to merchandise. At the time of receipt when boxes are unpacked, merchandise contain appropriate accession security labels, which protect the item against accidental, unauthorized, or malicious modification, destruction or disclosure, and theft. The Security Labels Market is witnessing demand owing to the rise in manufacturing activities.
Food & beverage, the largest segment during the forecast period
The food & beverage segment is projected to be the largest market in the next five years. The demand from the food & beverage sector is expected to experience a higher growth rate, mainly because of the growing demand for packaged and branded products, and consumer awareness toward the authenticity of the product. Beverage manufacturers widely use security labels on bottles owing to the high durability, aesthetic appeal, and brand positioning which they offer.
Bar Codes, the Largest Market for the Identification Method Segment
Security Labels Market, by identification method, is classified into three segments, namely bar codes, radio-frequency identification, and holographic. Bar codes present a cost-effective and reliable method for collecting any kind of necessary data. Bar codes are widely used by industrsies such as consumer durables, retail, and transportation & logistics for keeping a track of their products, as well as for tracing outgoing shipments and equipment.
Asia-Pacific projected to be the fastest growing Market for Security Labels
Asia-Pacific with emerging economies like China and India will drive the Security Labels Market. China is projected to have the largest market share and dominate the Asia-Pacific Security Labels Market from 2015 to 2020. Developing markets such as China, Brazil, and India are emerging as growth economies for security labels. Growing economies, rising population, and increasing disposable income of people are acting as the main drivers for increased opportunities in these countries.
The major players include 3M Company (U.S.), Avery Dennison Corporation (U.S.), CCL Industries Inc. (Canada), UPM (Finland), and Honeywell International Inc. (U.S.). Companies have adopted new product/service launches to cope with the increasing demand in the emerging markets.
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