An Incisive, In-depth Analysis on the Security Labels Market
This study offers a comprehensive, 360 degree analysis on the Security Labels market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Security Labels 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.
Security Labels Market Outlook & Key Findings
- Security labels market is projected to surpass US$ 45 Bn by 2030, with barcode security labels at the growth forefront
- Demand from food & beverage industry to go forth, indicating a growth of 1.9x through 2030
- Security labels market is projected to expand at CAGR of 3.8% during the forecast period
- North America and East Asia together to dominate the market with value share of 60% by 2030
- Capabilities such as theft reduction, tamper-proofing, and visual identification of assets promise higher uptake of security labels
Soaring Diagnostics Keep Demand for Security Labels Buoyant
Amidst the COVID-19 pandemic and prior to it as well, diagnostics and clinical trials in laboratories have been fueling the adoption of security labels. A strict protocol to ensure sample integrity against heat, cold, and exposure to other elements has created an escalating demand for state-of-art security labels.
In recent years, development of autoclave labels that can withstand harshest environments has definitely boosted vendor confidence. In addition, development of inks for accurate branding and labelling with symbols to indicate level of hazard have generated a demand for specific security labels in labs.
In addition to diagnostics, demand for security labels is also seen in research and development of a wide range of chemical-based activities. They are for easy and quick identification to ensure proper storage, usage, and transportation. Investments in research and development as product innovation across sectors remains vital in a competitive market will result in a high uptake of security labels during the forecast period.
The demand for security labels is also being driven by the growing need to reduce counterfeit products in the market. Influx of counterfeit drugs in the market that can lead to debilitating condition of consumers as made end users focus on rightful packaging with the best of security labels.
Simplification of Complex Inventory Management Systems Favors Use of Security Labels
Inventory management is a complex part of every business operation that has always sought methods for simplification to reduce costs. Introduction of security labels, specifically for inventory management, has significantly helped sectors such as retail and food & beverages streamline operations and transactions. End-use segments are expected to invest in topnotch security as the need for planning and tracking inventory is more than ever.
Asset tracking, tracking transfers between locations, and replacement of finished stock to ensure effective inventory control has propelled the demand for security labels in recent years. Thus, economies with growing e-commerce and food & beverages industries are expected to see a surge in use of security labels.
For instance, the retail industry in India has been experiencing healthy growth over the last decade, which creates opportunities for security label manufacturers to penetrate this untapped market. In addition, the labor costs in China and India are less compared to developed countries of Europe, which has encouraged manufacturers to set up new plants for production of security labels in these countries.
Spoilage and expiry of product is a prime challenge for the inventory system, which results in margin shrinkage for brand owners. As per industry sources, over 104 million metric tons of perishable products are transported between the cities of India each year. Around 30% of food wastage in India is due to issues related to transportation, which directly relate to the lack of effective temperature-controlled systems.
These trends and statistics indicate that the demand for security labels for perishable food products along with massive evolution of the pharmaceutical industry will create major opportunities for multinational companies operating in this space.
Barrier to entry is low in Asia Pacific region due to lower production costs and more advanced production capabilities. The scale of high-tech intensive manufacturing reduces the high startup costs compared to other regions. The Middle East and Africa and Latin America has fewer number of players in the security labels market, thereby resulting in reduced competitiveness in the market. Steadily growing demand for security labels in food & beverage, pharmaceuticals, electronics, and cosmetics & personal care industries will be seen across North America, Europe, and Asia Pacific regions.
Brand Owners Tilt Focus on Smart Security Labels to Maintain Product Authenticity
Technologies such as radio-frequency identification (RFID), electronic article surveillance (EAS), and near field communication (NFC) are gaining popularity among security label manufacturers. Combination of these technologies with security labels eliminates the chances of human error and eases in introduction of automation.
The smart security label technology works without human intervention and as opposed to barcodes it has the ability to read long range. This is increasing its acceptance for product identification, which is crucial in the retail sector. It is less sensitive to adverse conditions, which, in turn, has accelerated its usage production of security labels.
Furthermore, spoilage detection-based labels are an important labelling solution among pharmaceutical manufacturing companies to tackle issues of overstocking and expiry. They ensure product’s authenticity and improve its quality and safety. Moreover, spoil detection-based smart labels minimize carrying costs, which is anticipated to make smart security labels a preferred labelling solution amongst end users.
COVID-19 Impact on Security Labels Market
Discontinuation and disruption in production across the globe has severely impacted the business for players in the security labels market. For instance, the United States, which accounts for significant consumption of security labels, has led to slowdown in sales of security labels.
Despite the uncertainty and a blip in sales, security labels are expected to pick up pace as they will be in high demand in diagnostic centres tackling with COVID-19 tests. Furthermore, increasing number of clinical trials to speed up the process of finding a vaccine for Coronavirus is expected to up the demand for these labels.
The market is likely to recover as nations lift lockdowns easing the supply chain and logistically challenges for the food and beverages, pharmaceuticals, chemicals & fertilizers sectors and other industrial supplies. This, in turn, will increase demand for improved labelling solutions by the consumers. In the years to come, the security labels market is likely to witness growth with increasing demand for efficient inventory management.
RFID on Security Labels Enables Premiumization
Security labels with RFID are used for higher value products due to their high costs compared to standard barcode labels. These are gaining popularity amongst “premium” category products, in terms of either in quality or price or both.
However, on the flip side, the expensive cost of RFID security labels restricts their the scope of their application in various end-use industries, as small and medium organizations are not able to bear their cost. Security labels cannot be used for inexpensive items, which might hinder its market growth.
Security labels Market: Regional Analysis
North America security labels market is leading the global market as the critical industries which medical devices and pharmaceuticals has been witnessing a soaring pressure to manufacture ventilators, sterilization equipment, and medical lab equipment as a response to the ongoing situation
On the other hand, East Asia and Europe are expected to have a healthy growth rate in the security labels market as consumer demand for secured packaging is rising rapidly in these regions. Countries depending on supply chains for manufacturing of security labels might experience sluggish growth as the pandemic has created hurdles in the logistics and transportation networks.
Demand for security labels depends on the trajectory of various end-use industries. For instance, food & beverages, pharmaceuticals, and cosmetics & personal care are likely to lead the demand for security labels. Thus, countries that are expected to have a strong growth rate of these industries are likely to see a high demand for security labels as well.
However, slowdown in electronics & electrical industries and other industrial activities is expected to shadow the growth of security for a while. Many countries rely on global supply chain to procure raw materials for manufacturing activities, which has been disrupted due to COVID-19 across the globe.
Security labels Market: Competition Landscape
Global security labels market is fragmented in nature, and top players merely account for 10-12% of the global production. Key players operating in the market are focusing on expanding their reach globally, diversifying their product portfolio, and making rapid product development to a gain competitive edge.
Some of the key players in the Security labels market are-
- 3M Company
- Avery Dennison Corporation
- CCL Industries Inc.
- Zebra Technologies Corporation
- Brady Corporation
- UPM Raflatac
- Covectra, Inc.
- Honeywell International Inc.
- tesa SE
- Mega Fortris Group
- Sato Holdings Corporation
- Muehlbauer Holding AG
- Invengo Technology Pte. Ltd
- Smartrac Group
- Thinfilm Electronics ASA
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report
Security labels: The Way Forward
The growth trend of the security labels market is likely to be upward. Though Y-o-Y growth is steady, the market is projected to record 4.5% growth from 2022. Industries such as food and beverages, pharmaceuticals, agrochemicals, personal care & cosmetics, and electronics & electrical will demand for security labels to prevent theft, counterfeit, and fraud.
Over the past few years, the e-commerce sector is witnessing robust growth, mainly driven by rapid adoption of technology along with an increasing number of smartphone users. Moreover, internet penetration is also expected to fuel this growth, directly influencing different industries such as packaging and labelling.
Labelling is employed not only to identify the brands but also to protect products from counterfeiting. Security labelling is one such solution catering to the e-commerce sector. It is gaining popularity among e-commerce companies owing to increasing counterfeiting and replacement of various cosmetic & personal care products. Technological advancements in labelling industries will also propel the progression of security labels in the e-commerce sector.
Global Security Labels Market: Global Industry Analysis 2015-2019 & Opportunity Assessment 2020-2030
A recent market report published by FMI on the security labels market provides global industry analysis for 2015-2019 & forecast for 2020-2030. The report offers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical, as well as current growth parameters of the security labels market, the growth prospects of the market are obtained with maximum precision.
The global security labels market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
By Product Type
By Material Type
By Pattern Type
By End use Industry
Chapter 01 – Executive Summary
The report begins with the executive summary of the security labels market, which includes a summary of the key findings and statistics of the market. It also includes dominant segments in the global security labels market, along with key facts about security labels market. It also includes graphical representation of the segments according to market size and growth rate.
Chapter 02 – Market Overview
Readers can find detailed taxonomy and definition of the security labels market in this chapter, which will help them understand the basic information about security labels market present in the market. This section also highlights the inclusions and exclusions, which help readers to understand the scope of the security labels market report. The section also includes comprehensive analysis of key trends that are impacting the global security labels market.
Chapter 03 – Impact of COVID-19
This section includes a comprehensive study of impact of COVID-19 on the global security labels market.
Chapter 04 – Global Security Labels Market Demand Analysis (Mn Units) 2015–2019 and Forecast, 2020–2030
This section explains the global market volume analysis and forecast for the security labels market between the forecast period of 2020-2030. Readers can also find the Y-o-Y growth opportunity for the forecast period (2020-2030).
Chapter 05 – Global Security Labels Market- Pricing Analysis
This section highlights the average pricing analysis of various product types (Barcode, Holographic labels, RFIDs, EAS, NFC and others) of security labels market in different regions across the globe. The weighted average pricing at the manufacturer-level is analyzed in this section.
Chapter 06 – Global Security Labels Market Demand Analysis (US$ Mn) 2015–2019 and Forecast, 2020–2030
This section explains the global market value analysis and forecast for the security labels market between the forecast period of 2020-2030. It includes the detailed analysis of the historical security labels market, along with an opportunity analysis for the future. Readers can also find the Y-o-Y growth opportunity for the forecast period (2020-2030).
Chapter 07 – Market Background
This chapter explains the key forecast factors that are expected to influence the growth of security labels market over the forecast period. This chapter also highlights the key market dynamics of the security labels market, which include the drivers, restraints, opportunities, and trends. This section also includes value chain analysis.
Chapter 08 – Global Security Labels Market Analysis 2015-2019 and Forecast 2020-2030, by Product Type
Based on product type, the security labels market is segmented into barcode, holographic labels, RFIDs, EAS, NFC and others. In this chapter, readers can find information about key attractive segments during the forecast period.
Chapter 09 – Global Security Labels Market Analysis 2015-2019 and Forecast 2020-2030, by Material Type
Based on material type, the security labels market is segmented as plastic, foam (EPS), foil and paper. In this chapter, readers can find information about key segments during the forecast period.
Chapter 10 – Global Security Labels Market Analysis 2015-2019 and Forecast 2020-2030, By Pattern Type
Based on pattern type, the security labels market is segmented as VOID, checkboard, destructible and other customized patterns. In this chapter, readers can find information about key segments during the forecast period.
Chapter 11 – Global Security Labels Market Analysis 2015-2019 and Forecast 2020-2030, By Application
Based on application, the security labels market is segmented into bottles & jars, boxes & cartons, bags & pouches and other containers. In this chapter, readers can find information about key attractive segments during the forecast period.
Chapter 12 – Global Security Labels Market Analysis 2015-2019 and Forecast 2020-2030, By End Use Industry
Based on end use industry, the security labels market is segmented into various industries such as food & beverage, healthcare & pharmaceutical, chemicals & fertilizers, electrical & electronics, personal care & cosmetics and others. In this chapter, readers can find information about key attractive segments during the forecast period.
Chapter 13 – Global Security Labels Market Analysis 2015-2019 and Forecast 2020-2030, by Region
This chapter explains how the security labels market is expected to grow across various geographical regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East & Africa (MEA).
Chapter 14 – North America Security Labels Market Analysis 2015-2019 and Forecast 2020-2030
This chapter includes a detailed analysis of growth of the North America Security Labels Market, along with a country-wise assessment that includes the U.S. and Canada. Readers will also find some of key points on the basis of estimated market size and consumption of security labels market.
Chapter 15 – Latin America Security Labels Market Analysis 2015-2019 and Forecast 2020-2030
Readers can find detailed information about several factors, such as the pricing analysis and the regional trends, which are impacting the growth of the Latin America security labels market. This chapter also includes the growth prospects of the security labels market in leading countries in Latin America such as Brazil, Mexico, Argentina, and the Rest of Latin America.
Chapter 16 – Europe Security Labels Market Analysis 2015-2019 and Forecast 2020-2030
Important growth prospects of the security labels market based on the product type, material type, pattern type, application type and end use industry in several countries such as Germany, the U.K., France, Spain, Italy, Russia, Poland, BENELUX, Nordic countries, and the Rest of Europe, are included in this chapter.
Chapter 17 – South Asia Security Labels Market Analysis 2015-2019 and Forecast 2020-2030
India, Indonesia, Thailand, and Malaysia are the leading countries in the South Asia region that are the prime subjects of assessment to obtain the growth prospects of the South Asia security labels market in this chapter. Readers can find detailed information about the growth parameters of the South Asia security labels market during the forecast period of 2020-2030.
Chapter 18 – East Asia Security Labels Market Analysis 2015-2019 and Forecast 2020-2030
This chapter highlights the growth of the security labels market in East Asia by focusing on China, Japan, and South Korea. The section also highlights data points regarding the growth of the security labels market in East Asia.
Chapter 19 – Oceania Security Labels Market Analysis 2015-2019 and Forecast 2020-2030
In this chapter, Australia and New Zealand are among the leading countries in the Oceania region, which are the prime subjects of assessment to obtain the growth prospects of the Oceania security labels market.
Chapter 20 – Middle East and Africa Security Labels Market Analysis 2015-2019 and Forecast 2020-2030
This chapter provides information about how the security labels market will grow in major countries in the MEA region such as GCC Countries, South Africa, Turkey, Northern Africa, and the Rest of MEA during the forecast period 2020 - 2030.
Chapter 21 – Security Labels Market Country-wise Analysis and Forecast
This chapter provides information about how the security labels market will grow in various countries such as United States, Canada, Germany, U.K., China, Thailand, Malaysia, Indonesia, EU Countries and Australia across the regions during the forecast period 2020 - 2030.
Chapter 22 – Market Structure Analysis
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the security labels market along with their market presence analysis by region and product portfolio.
Chapter 23 – Competition Analysis
In this chapter, readers will find a comprehensive list of all leading manufacturers in the security labels market, along with detailed information about each company, including company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are 3M, Avery Dennison Corporation, CCL Industries Inc., Zebra Technologies Corporation, Brady Corporation, UPM Raflatac, Covectra, Inc., Honeywell International Inc., tesa SE, Mega Fortris Group, Sato Holdings Corporation, Muehlbauer Holding AG, Invengo Technology Pte. Ltd, Smartrac Group and Thinfilm Electronics ASA.
Chapter 24 – Assumptions and Acronyms
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the security labels market report.
Chapter 25 – Research Methodology
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, about the security labels market.
Sources and Primary Research Splits (%)
Primary research interviews with key opinion leaders and other participants were conducted for data collection and validation of the below information: