Security Bags Market: Cash/Coin Deposit Bags Segment Projected to Gain Significant Market Share Between 2017 and 2027

The global security bags market is slated to exhibit a significant growth rate of 8.8% in terms of value to reach a market valuation of US$ 702.3 Mn by the end of the forecast period in 2027.

The global security bags market is segmented on the basis of raw material type into plastic, paper, and fabric. Plastic will continue to remain a favourite among consumers and be the dominant segment throughout the forecast period, anticipated to hold a market share in excess of 75% throughout the forecast period. The paper and fabric segments will be nowhere close to the plastic segment throughout the duration of the forecast period.

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By product type, the global security bags market is segmented into opaque and clear. Opaque segment is the clear winner here with a CAGR of 9.0% and estimated total revenues in excess of US$ 500 Mn by 2027 end, resulting from a market share in excess of 75% throughout the forecast period.

In terms of application, the global security bags market is segmented into cash/coin deposit bags, strap bags, card & dice bags, evidence bags, and pharmaceutical distribution bags. Cash/coin deposit bags will continue to dominate the global market throughout the assessment period, estimated to reach a market valuation exceeding US$ 490 Mn by the end of 2027. While strap bags are unlikely to match the revenue contribution of cash/coin deposit bags, in terms of CAGR, both these segments stand at 8.9%.

The global security bags market is segmented on the basis of end use into financial institutions, hospitals, casinos, hotels, national retail companies, government organisations, courier services companies, and academic institutions. Financial institutions will lead the race in this segment, with an estimated 30% market share towards the end of the forecast period. In terms of volume, the financial institutions segment is pegged at over 16,000 tonnes by 2027 end.

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In this report, Future Market Insights has analysed the seven key regions of North America, APEJ, Western Europe, Eastern Europe, Latin America, MEA, and Japan. North America, APEJ, and Western Europe will stand toe-to-toe in terms of market share, each holding a value share in excess of 20% throughout the forecast period. North America is anticipated to be the market leader in 2017 and is projected to gain significant market share due to a high growth of security products in the region. The North America security bags market will grow at a CAGR of 9.0% in terms of value over the forecast period.

Some of the key players profiled in the report include Ampac Holdings LLC., Mega Fortris (Malaysia) Sdn. Bhd., Coveris Holdings S.A., SECUTAC, Dynaflex Private Limited, NELMAR Security Packaging Systems Inc., KOROZO Ambalaj San.ve Tic A.S., TruSeal Pty Ltd., HSA International Group, KENT PLASTIK LTD. STI., Harwal Ltd.

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