Security label is one the concept which are attached to the products and bundle of products that provides a security. In the global scenario, the global security labels market has witnessed a commendable growth in the past couple of years. The growing awareness of product safety among the industries such as food & beverages, pharmaceuticals, consumer goods, retails and others have created a significant scope of the security label in the global market.
Among the application industries of security labels, food & beverage industry has become one of the leading industry in terms of demand. The F&B industry requires the security labels in a huge quality to make each and every product safety. Moreover, while the transportation of goods, the security labels gives product a unique identity, as a result, the demand for security labels has created more demand. The security labels also keep the product safe at the time theft. The rising theft issues in retail market have also augmented the market for security label in the global market.
Factors such as growth of food & beverage and pharmaceutical sector have led to the growth of security label market. The increased demand for packaged form of foods and increased health awareness has resulted in increased demand for security labels in the packaging industry. Additionally, the increase in investments by the packaging companies to bring about latest technologies has also contributed to the growth of the security labels market.
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Major Key Players
Avery Dennison Corporation,
Data Label Inc.,
CCL Industries Inc.,
RR Donnelley & sons Co.,
Seiko Holdings Corporation
Honeywell International Inc
Global Security Labels Market is expected to reach more than USD 30 billion at the end of the forecasted period and is expected to grow at CAGR of 6%.
In September, 2016 – UPM Raflatac decided to expand its security label range in the European market. The security range included the labels such as two new ultra-destructible (UD) film labels. This decision has made a positive impact on the European market as the demand for security labels have been growing. The rising F&B industry in Europe has been resulting in market growth.
In April, 2017 – CCL Industries, a global leader in specialty label and packaging solutions announced to acquire two European software-powered online digital printing and direct-to-consumer business for its Avery Units. This acquisition is expected to create a significant market in Europe.
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The global market for security labels seems to be highly competitive. Major security labels manufacturers such as 3M Company, Avery Dennison Corporation and Data Label Inc have come across various key developments such as merger & acquisition, production launch, expansion and partnership. The major players have adopted these strategies to retain and/or expand their market share. Key strategies followed by most companies within the global security labels market were expansion.
Security Labels Global Market – Segmentation
The scope of global security labels market is segmented into three major segments which are explained below:
By Identification Method
- Radio frequency
- Bar code
- Passenger Vehicles
- Commercial Vehicles
- Food & beverages
- Consumer goods
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