World News: 12:04 GMT Monday 14th January 2019. [Future Market Insights via Globe Newswire via SPi World News]
VALLEY COTTAGE, N.Y. , Jan. 14, 2019 (GLOBE NEWSWIRE) -- Future Market Insights (FMI) delivers key insights on the in its published report, titled “” Globally, the revenue generated from the sales of security labels is estimated to be around US$ 23.4 Bn in 2018, and is projected to expand at a CAGR of 5.3%, during the forecast period 2018-2027. This can be attributed to numerous factors, about which Future Market Insights offers thorough insights and forecast in the security labels market report.
According to the International AntiCounterfeiting Coalition (IACC), counterfeited goods account for about 5-7% of the global trade, which amounts to approximately $600 Bn. Counterfeiting results in ruining consumer confidence for the brand and can pose serious health risks in many cases. To avoid all this hassle, manufacturers are incorporating security labels in packaging. Security labels address the need for anti-counterfeiting and brand protection in various end-use industries including food & beverages, pharmaceuticals, personal care & cosmetics, electrical & electronics, and more. Security labels include a variety of labels including barcode labels, holographic labels, RFID labels, and NFC tags among others.
Manufacturers in the North American region are employing security labels such as RIFD labels in the packaging of medicines, owing to the emphasis of Food & Drug Administration (FDA) towards the adoption of RFID in pharmaceutical packaging to curb counterfeiting occurring throughout the supply chain. Beverage manufacturers are incorporating security labels on the bottles. Manufacturers of alcoholic beverages in Europe are integrating their bottles with security labels such as QR code labels to oversee production, distribution, and sales of alcoholic beverages. This initiative is expected to curb counterfeiting in beverage packaging as the consumer will be able to detect whether the product is authentic or forged.
The Asia Pacific (excluding Japan) region is exhibiting immense growth opportunities for the security labels market. This can be attributed to the increasing penetration of a variety of retail packaging formats. Manufacturers are now more concerned about creating packaging solutions which cannot be replicated by their competitors. This has led to the increased usage of security labels which have unique distinguishing features, in the FMCG sector particularly. With the increased consumer spending on lifestyle products, the overall demand for labeling solutions is expected to propel, which is expected to fuel the growth of the security labels market. Overall, the Asia security labels market is anticipated to show a positive outlook throughout the decade. Latin America, as well as the Middle East & Africa, also represent attractive opportunities for growth.
The key players in the global security labels market are 3M Company, Avery Dennison Corporation, CCL Industries Inc., Honeywell International Inc., UPM Raflatac, Inc., OpSec Security, Inc., Tesa SE, Brady Corporation, Covectra, Inc., and Mega Fortris (Malaysia) Sdn. Bhd. Many local and unorganized players are anticipated to contribute to the global security labels market during the forecast period.
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
Mr. Sudip SahaFuture Market Insights616 Corporate Way, Suite 2-9018,Valley Cottage, NY 10989,United States +1-347-918-3531: +1-845-579-5705T (UK): + 44 (0) 20 7692 8790 : :
Globe Newswire: 12:04 GMT Monday 14th January 2019
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 0751938.