The market is growing in accordance with the growth trends of the converting and labeling industries. Factors such as increasing demand from food and beverage industry, demand for retail supplies, consumer durables, and logistics application, increasing consumer awareness, and growth of the e-commerce industry have propelled the growth of the global security labels market.
"Security Labels" are used for anticounterfeiting, brand protection, transmitting information, and providing waring, among other functions. Product innovations and technological developments in the market are expected to create strong investment opportunities. The security labels market size by value will grow and reach USD 26.47 Billion by 2020 at a CAGR of 5.13% between 2015 and 2020.
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On the basis of application, the market is segmented into food & beverage, retail, consumer durables, pharmaceuticals, and others. Increasing disposable incomes of people in developing countries and changing preferences of manufacturers for cost-efficient and effective labeling are some of the factors that are driving the security labels market.
Security labels in the form of sheets accounted for the largest share in terms of both volume and value. The final segment, that is, the region, consists of North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Globally, competition in the security labels market is growing considerably owing to the improvement in labeling technologies such as bar codes and radio-frequency identification.
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Growth Drivers:
• Increasing Production and Consumption of Consumer Durable Goods
• Rapid Growth in E-Commerce Industry
• Rapid Growth in Manufacturing Sector
• Growth in Pharmaceutical Industry
Opportunities:
• Effective and Efficient Value Chain Management
• Increase in Demand for Remote Authentication of Products
• Growing Opportunity in Automobile Sector
Major Region:
• North America
• Europe
• Asia-Pacific
• RoW (Brazil, U.A.E., South Africa, and others)
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Companies such as 3M Company (U.S.), Avery Dennison Corporation (U.S.), CCL Industries Inc. (Canada), UPM (Finland), Honeywell International Inc. (U.S.), Tesa SE Group (Germany), and Seiko Holdings Corporation (Japan) were the key players who adopted these strategies to increase the customer base in key markets.
What are the prospects for South Asia?
I think this region is still far behind in this technology adoption.