Fort Collins, Colorado, Oct. 20, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the Security Labels Market was valued at USD 27.2 Billion in 2022 and is expected to reach USD 45.6 Billion by 2032 to witness a CAGR of 5.4% by 2032.
Security labels have become essential to combat counterfeit products, piracy, and illegal distribution of items such as apparel, food items, and daily essentials. The labels help verify the product's authenticity, and their increased usage boosts market growth.
Fake packaging has become a significant issue for businesses across different industries. Using uniform packaging has made it challenging for customers to identify genuine products. However, implementing security labels with secret codes like holograms, RFID, and barcodes has helped customers and manufacturers verify the authenticity of products.
Security labels that utilize advanced features like holograms, QR codes, and tamper-evident materials can help prevent counterfeiting and protect the brand's reputation. Additionally, in today's complex supply chain, tracking products throughout their journey has become essential, and these labels can provide accurate location tracking after dispatch.
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Segmentation Overview:
The global security labels market has been segmented into technology, end-use, and region. RFID technology is widely used in various sectors for prompt and accurate detection of assets. The retail sector dominates the security label market, especially in e-commerce. RFID technology is used for the majority of labeling in this sector. Other applications of RFID are in logistics, inventories, warehouses, and animal tagging, which help to locate the current and last position of assets.
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Security Labels Market Report Highlights:
- The global security labels market growth is anticipated at a CAGR of 5.4% by 2032.
- Security labels are in high demand due to their premium quality, minimal weight, and recyclability, which attract end-use industries like food, beverages, and pharmaceuticals.
- North America leads the security label market, owing to the easy availability of the internet and the early adoption of technology. The U.S. dominates the North American market, followed by Canada.
- Some prominent players in the security labels market report include 3M, Avery Dennison Corporation, CCL Industries, Honeywell International Inc., UPM Raflatac, tesa SE – A Beiersdorf Company, OpSec Security, Inc., Brady Worldwide, Inc., Covectra, Inc., Mega Fortris Group, Seiko Holdings Corporation, Security Labels International, Sandora Sales and Manufacturing Ltd.
Industry Trends and Insights:
- UPM Raflatac has launched a new line of Graphics Solutions in North and South America after acquiring AMC AG in Germany.
- Aprisa has chosen Covectra's StellaGuard to protect customers from purchasing fraudulent beauty skincare products by allowing them to verify their purchases are authentic.
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Security Labels Market Segmentation:
- By Technology: Electric Article Surveillance, RFID, Sensing Labels, NFC, Tag, QR, Barcode.
- By End-use: Retail, Healthcare, F & B, Consumer Electronics, Supply Chain & Logistics, Transportation, Others.
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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