Press release
Global Security Labels Demand Triggered by EU FMD Directive, finds New Study
Safe labeling and packaging are the mega trends triggering demand for security seals and labels, including tamper-evident labels. As regulatory climate and mandates witness growth, security label companies are likely to witness increased orders, especially from the pharmaceutical sector, finds a new Fact.MR study.The key drivers for security labels include,
Stringent regulatory climate – e.g. EU legislation, Falsified Medicines Directive, mandates higher degree of authentication and tamper verification
Growing emphasis on preventing pilferage
Buoyancy in the automotive industry
Increasing emphasis on security labeling in F&B industry
Investment in brand protection and reputation
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The Fact.MR study opines that security label manufacturers are focusing on adopting innovative technology to offer advanced security labeling solutions to end-users. Incorporation of RFID and NFC technology is growing to preventing counterfeiting and bioterrorism. Identiv Inc.’s state-of-the-art tamper proof RFID seals are aimed at boosting brand protection.
The study finds that sustainability is a growing trend in the security seals market. Sensing the evolving needs of end-users, security label manufacturers have been hard pressed to alter their production process. From incorporating greener raw materials to reducing their carbon footprint, manufacturers are aligning with end-user sensibilities.
The security labels market remains fragmented, however, top four players have been able to maintain their dominance. 3M, CCL Industries, Avery Dennison Corporation, and PPG Industries are among the leading players in the security labels market. Collectively, these four companies account for nearly one-fourth revenue share.
The Fact.MR study profiles the product and business strategy of security label manufacturers. According to the report, tier I manufacturers remain focused on capacity expansion, new product development, and M&As. Raising capital and foraying into new markets isn’t as easy for tier II players as it is for tier I. This gives tier I players a strategic advantage, however, tier II players have been able to meet local demand through cost-effective offerings.
Browse Full Report on Security Seals Market with TOC- https://www.factmr.com/report/2147/tamper-evident-labels-market
According to the study, despite growing emphasis on sustainability, plastic still accounts for a large share of raw materials used for production of security labels. Although many manufacturers have reduced the usage of plastic or have shifted to less potent variants, easy availability and traditional use have meant that plastic remains the most widely used material in the security label manufacturing process.
Although NFC and RFID technologies are witness robust adoption, barcode technology continues to be the most sought-after. Growing digitalization is likely to enhance the adoption of NFC and RFID, and the volume of barcode security labels is likely to drop down in the future.
The study finds demand for VOID security labels growing at a brisk pace, accounting for over half of the market share in terms of volume. Fact.MR opines VOID security labels to continue their bullish run in the future as well. Other promising category is destructible tamper evident labels, which are witnessing steady adoption among end-users.
Asia Pacific remains the largest market for security labels, on account of solid demand from the automotive and pharmaceutical sectors. China and India are two of the most promising markets for automotive sales, and pharmaceutical industry in these two countries has also witnessed massive expansion in the last decade. Demand from these two industries is likely to create sustained opportunities for manufacturers.
The Fact.MR study has an optimistic outlook on the security seals market, and estimates global demand to reach 11,673 million square meters by the end of 2028.
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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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