Security Labels Market expected to show steady growth by 2024
Sarasota, FL -- (SBWIRE) -- 10/04/2017 -- Security labels are used to protect product or item from getting altered, unpacked, theft, and malicious modification. These security labels prevent confidential information from getting leaked. Security labels are witnessing high demand in manufacturing and beverage industry. These industries widely use security labels on bottles to enhance brand positioning and aesthetic demand. In addition, manufacturers use security labels to safeguard merchandise from diversion, tampering, and counterfeiting. It not only protects the goods but also brand image and revenue of the company. Moreover, the company can keep the record of tracking throughout the supply chain.
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The global security labels market is segmented on the basis of identification method as holographic, barcodes, and radio-frequency identification. The barcode is widely used identification method among others and is most cost-effective. It is leading identification method used across the world and is useful for gathering any essential data. The global market is divided on the basis of the end-use application as cosmetics, food & beverages, consumer usable, electronics, retail, construction, and others. Food & beverage sector is projected to witness high growth in future owing to increasing demand for branded and packaged products. Based on composition, the global market is fragmented into release liner, face stock, an adhesive.
Increasing demand from food & beverage and retail industry enhance the market growth in coming years. Rapid growth in the e-commerce industry positively impacts the market. Other end-use applications such as consumer durables, electronics, and logistics may also escalate the market growth in future. Moreover, increasing populating and changing lifestyle are anticipated to boost the market in future. Strong demand from pharmaceutical, healthcare, electronics products may augment the market growth in the near future. Increasing awareness regarding the authenticity of the product details and protection from false information is the major driving factor for the security labels market. Huge demand for security labels from consumer durables industry will propel the global market growth in the coming years.
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Asia-Pacific accounted for the largest market share owing to developing the industrial network in this region. North America is projected to be the fastest growing market due to increasing awareness for the authenticity of information among people. China is expected to emerge as the largest consumer for security labels due to highest demand from food & beverage, pharmaceuticals, and consumer durables industry. India and Brazil are other regional segments that accounted for significant growth in the security labels market. Increasing population and disposable income in these regions are anticipated to witness growth in the future.
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Some of the major players dominating the global security labels market are Honeywell International Inc., Avery Dennison Corporation, 3M Company, CCL Industries Inc., and UPM. Manufacturers are looking for more alternative options to enhance their business strategy. For example, Guangzhou Manborui launched new security label, Shape Memory Polymer (SMP) security label. It is claimed that it is a unique label having the ability to regain its original shape once it is deformed by an external temperature change.
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