|11-29-2018 07:08 AM CET - Industry, Real Estate & Construction||
Tamper Evident Labels Market to Experience Significant Growth during the Forecast Period 2018 to 2028 | Key Players - 3M, Avery Dennison Corporation, Identiv Inc., Lintec Corporation
Press release from: Fact.MR
Tamper evident labels market continues to be a fragmented landscape with presence of various large scale and small scale participants. However, despite the high levels of fragmentation, leading companies have been able to maintain their stronghold. These companies include 3M, Avery Dennison Corporation, PPG Industries and CCL Industries that collectively account for about 25-28% of the revenue share of tamper evident labels market at the global front. 3M, Avery Dennison Corporation, PPG Industries have a strong presence in the US, whereas Canada is a key market for CCL Industries.
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The key strategy of these tier 1 companies is mainly enhancement of production capacity, constant infrastructure up gradation, new product development and growth through mergers and acquisitions. These companies have been focusing on penetrating the Asian markets to exploit the untapped potential across emerging economies such as India and China. Further, Asia Pacific being a lucrative region for various end use industries including pharmaceuticals and food and beverage sectors, the manufacturers of tamper evident labels are likely to gain potential growth avenues in terms of demand and sales of tamper evident labels.
New EU Legislation to Impact the Tamper Evident Labels Marketplace
World Health Organization (WHO) revealed that about 50 percent product recalls across pharmaceutical applications annually are largely attributed to incorrect labeling and errors in artwork. Albeit growing pressure on artwork teams owing to increasing “speed-to-market” and “on-time product launch” requirements, government bodies have compelled pharmaceutical manufacturers to adopt serialization codes to every pack. The new EU legislation, the FMD (Falsified Medicines Directive) 2011/62/EU has paced two main demands on the packaging of pharmaceutical products, viz., unique serial number to be allotted to each pack in order to authenticate and identify individual products and secondly, all products should be sealed in a manner that can enable tamper verification. Against this backdrop, manufacturers of tamper evident labels have developed a range of tamper evident labels to remain aligned with the Falsified Medicines Directive, particularly for over-the-counter high risk medicines and prescription drugs.
Re-sealing Brand Protection and Maintaining Consumer Confidence Driving Sales of Tamper Evident Labels
The demand for tamper evident labels is expected to rise on the back of increasing focus of manufacturers on brand protection and consumer confidence. Tamper evident labels are designed in a way that resist unauthorized access to a certain extent. Tamper evident labels include various layers of protective material that make it difficult to reach the end product, leaving signs of tampering. With asset-tracking capabilities of tamper evident labels, cost savings, protection against counterfeits, and brand integrity is ensured, which in turn retain consumer confidence. From a long-term perspective, manufacturers of industrial goods are opting for tamper evident labels, which is expected to fuel the growth of the market in the forthcoming years.
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Eco-Friendly Tamper Evident Labels in the Offing
With growing consumer inclination toward environment health, the demand for biodegradable tamper evident labels is likely to witness a significant boost in the coming years. Manufacturers of tamper evident labels have been focusing on composite and organic tamper evident labels in a bid to cater to the growing demand from end use industries such as pharmaceutical and food and beverage sectors. For instance, manufacturers of tamper evident labels such as the Mega Fortis Group launched environment friendly green biodegradable range of tamper evident labels. This range includes tamper evident labels that are compliant with ISO 14021:1999 Standard, highly stable, nontoxic and are biodegradation verified labels with ASTM D5511, ASTM D5338, and ISO DIS 15985 certifications.
RFID Technology Proliferating in the Tamper Evident Labels Marketplace
Manufacturers of tamper evident labels are focusing on integrating their products with RFID and NFC technologies in a bid to prevent counterfeiting and bioterrorism of products. For instance, Identiv Inc., has launched state-of-the-art tamper proof RFID tamper evident labels that ensure protection of products and brand protection in retail, pharmaceutical, and transportation industries and are particularly designed for wine and spirit bottles and any other product that needs broken-seal detection and tamper prevention. In addition, each label includes variable data with end user’s name and barcode or numbering.
The tamper evident labels market report includes detailed analysis on key companies involved in the manufacturing of tamper evident labels. Various aspects of major players including product portfolio, developments, innovations, mergers and acquisitions, key strategies and other financials are covered in the tamper evident labels market report. The report on tamper evident labels market has profiled companies such as 3M, Avery Dennison Corporation, Identiv Inc., and Lintec Corporation.
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This release was published on openPR.
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