Security Bags Market

Security Bags Market: Cash/Coin Deposit Bags Segment Projected to Gain Significant Market Share Between 2017 and 2027: Global Industry Analysis 2012 - 2016 and Opportunity Assessment 2017 - 2027

  • 2017-08-01
  • REP-GB-4011
  • 258 pages
  • Format: PDF/PPT/Excel

An Incisive, In-depth Analysis on the Security Bags Market

This study offers a comprehensive, 360 degree analysis on the Security Bags market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Security Bags market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

Increased use of cash/coin deposit bags and pharmaceutical distribution bags noticed across the globe

Our consumer survey of end users of security bags reveals that consumers seem to be satisfied with cash/coin deposit bags as these meet the basic needs of most customers. However, in the forthcoming years, strap bags and pharmaceutical distribution bags are likely to gain traction, owing to the tamper evidence feature offered by these bags. Most of our survey respondents seem to be inclined towards the use of cash/coin deposit bags owing to the convenience of use in banks and financial institutions. The healthcare industry has opened its doors to pharmaceutical distribution bags in the last few years and it is anticipated that these bags will soon become popular with consumers of security bags. Other security bags such as card & dice bags are not very popular owing to the fact that these are largely used in casinos, and casinos are banned in certain countries. Evidence bags are chiefly used by government agencies and are related to public safety.

Key survey findings pertaining to the application of security bags

Our survey reveals that tamper evidence, transparency, and price point are the prime most considerations of consumers when choosing security bags. This might explain the growing popularity of strap bags and pharmaceutical distribution bags. However, cash/coin deposit bags will continue to remain a consumer favourite, as is evident from the immensely high market share (about 70%) likely to be held by this segment in the current year 2017 and by the end of the forecast period in 2027. In terms of CAGR, the cash/coin deposit bags segment and the strap bags segment will stand neck-to-neck at 8.9%. The other consumer favourite – pharmaceutical distribution bags – will likely hold about 10% market share during the forecast period and take the second place in terms of CAGR, registering a good revenue growth at 8.7% during the forecast period. Fighting for second place in terms of CAGR is also the card & dice bags segment, projected to grow at 8.7% CAGR in terms of value over the forecast period.

global security bags market

Global security bags market forecast and the factors boosting market growth

Our analysis of the global security bags market reveals a very positive market scenario of the industry during the forecast period. With an estimated market valuation of slightly more than US$ 300 Mn in 2017, the global security bags market is projected to reach a market value in excess of US$ 700 Mn by the end of 2027, attributed to a CAGR of 8.8% during the decadal study. When we consider volume, the global security bags market is estimated to be pegged at about 24,000 tonnes in 2017 and will expand at a CAGR of 7.9% to reach about 52,000 tonnes towards the close of 2027.

Several dynamics impact the growth of the global security bags market

At the outset, a robust growth in courier and logistics services has been observed across the globe. As this industry utilises security bags to a great extent, this automatically becomes a key growth driver for the global security bags market. Furthermore, a large number of business houses necessitating cash-in-transit has also augmented the adoption of security bags, thereby fuelling market growth. A steady growth in the banking sector across the world creating increased demand for security products is another key market driver.

The market is not devoid of challenges

Advancements in technology and the changing face of the global industrial ecosystem poses certain challenges to every market, and the global security bags market is no exception. A growing consumer shift towards digital payments will restrict the scope of application of security bags. Further, consumers prefer cheaper packaging of security products and this might hamper the adoption of highly priced security bags, thereby restraining market growth to some extent.

A comprehensive evaluation of the global security bags market based on insightful metrics

Future Market Insights’ tested research methodology has been extensively leveraged to study the global security bags market over a 10 year forecast period 2017 – 2027. Our report titled “Security Bags Market: Global Industry Analysis (2012 – 2016) & Opportunity Assessment (2017 – 2027)” provides a microscopic view of the global security bags market including market performance across various assessed regions pertaining to the various classified segments of the global market. At the outset, the report succinctly summarises key qualitative and quantitative findings of our research in a brief but self-explanatory executive summary. This section presents the global market overview and analysis and a set of recommendations based on our in-depth analysis of the market. This is followed by a brief introduction to the global security bags market followed by the market taxonomy. A short market viewpoint including the global security bags market opportunity analysis and a brief consumer survey end this part of the report.

The subsequent sections of the report present the actual meat of our analysis – the global security bags market analysis and forecast including value (US$ Mn) and volume (Tonnes) projections, market size and Y-o-Y growth, and a value chain analysis focussing on the key stakeholders in the global security bags market such as raw material suppliers, packaging manufacturers, distributors, and end users. This is followed by the next important chunk of sections that present the global security bags market analysis for the forecast period 2017 – 2027 for the various segments of the global market – raw material type, product type, application, end use, and region. These forecasts include a historical market analysis (both value and volume) for the period 2012 – 2016 as well as the current market size (both value and volume) for the forecast period and a market attractiveness analysis, to present a clear picture of the global security bags market to readers and potential investors.

The next few sections dive deep into the regional forecasts of the global security bags market based on the different segmentations and for the seven key regions assessed in the report. The highlight of the regional forecasts is a region-wise pricing analysis and an in-depth study of the regional market dynamics impacting the seven geographies over the forecast period. The regional forecasts delve into the performance of the security bags market across key countries in the various assessed regions. This very detailed view of the market will be of immense use to the report audience to evaluate every nuance of the market.

The first thing a potential entrant would want to know about any market is the level of competition in the global market. Our report presents a detailed competitive landscape of the global security bags market in a separate section dedicated for this valuable information. The competitive landscape provides a market share analysis of the key players operating in the global security bags market in an easy-to-read and understand dashboard view of the vendor ecosystem. This section also features company profiles of some of the top companies operating in the global security bags market with details such as company overview, financials, strategies, and recent developments. The report ends with a description of certain assumptions and acronyms used in our research and a small download on the research methodology adopted to study the global security bags market.

Market Taxonomy

By Raw Material Type

By Product Type

By Application

By End Use

By Region

  • Plastic

    • HDPE

    • LDPE

    • PVC

    • Others

  • Paper

  • Fabric

  • Opaque

  • Clear

  • Cash/Coin Deposit Bags

  • Strap Bags

  • Card & Dice Bags

  • Evidence Bags

  • Pharmaceutical Distribution Bags

  • Financial Institutions

  • Hospitals

  • Casinos

  • Hotels

  • National Retail Companies

  • Government Organisations

  • Courier Services Companies

  • Academic Institutions

  • North America

  • APEJ

  • Western Europe

  • Eastern Europe

  • Latin America

  • MEA

  • Japan

Research Methodology

Future Market Insights leverages secondary research extensively to ascertain the overall size of the global security bags market and top industry players. In addition, our experienced team of analysts has gathered relevant market insights and data by speaking to the various manufacturers of security bags and other key stakeholders based in various countries. We have then sliced and diced this massive amount of data gathered through primary and secondary research and validated it using different methods such as the triangulation method and have finally scrutinised the data using advanced tools to glean pertinent qualitative and quantitative insights into the global security bags market.

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