NEW YORK, April 19, 2016 /PRNewswire/ -- "Rising demand for food and beverage, retail, and consumer durables sector to drive the market for security labels"
The global market for security labels is projected to grow from USD 20.61 billion in 2015 to reach USD 26.47 billion by 2020, at an estimated CAGR of 5.13%. The security labels market is driven by factors such as increasing urban population, demand for pharmaceutical supplies, and growth of the e-commerce industry. The market is further driven by factors such as increasing awareness among consumers about the durable labels, and their pace of adopting products is one of the biggest factors leading to the increase in demand for security labels.
"Food & beverage accounted for the largest market share during the forecast period for security labels"
The food & beverage segment is projected to be the largest market in the next five years. The demand from the food & beverage sector will experience a higher growth rate, mainly because of the growing demand for packaged and branded products, and consumer awareness toward authenticity and other details of the product. The consumer durables industry has also posed a huge demand for security labels.
"Asia-Pacific region to gain maximum traction during the forecast period"
The Asia-Pacific region is projected to be the fastest-growing market during the forecast period, followed by North America, from 2015 to 2020. In Asia-Pacific, China is the largest consumer for security labels, followed by Japan. China with rising demand in pharmaceuticals, food & beverage, and consumer durables will drive the security labels market. Japan with growing inclination toward convenience products will impact the security labels market in the Asia-Pacific region.
Breakdown of primaries
Primary interviews were conducted with a number of industry experts in order to collect data related to different aspects of security labels. The distribution of primary interviews is as follows:
- By Company Type: Tier 1 – 26%, Tier 2 – 35%, Tier 3 – 39%
- By Designation: C level – 22%, Manager level – 78%
- By Region: North America – 10%, Asia-Pacific – 45%, Europe – 23%, Rest of the World – 22%
The various suppliers of security labels and related products in the report are as follows:
1. 3M Company (U.S.)
2. Avery Dennison Corporation (U.S.)
3. CCL Industries Inc. (Canada)
4. UPM (Finland)
5. Honeywell International Inc. (U.S.)
6. Tesa SE Group (Germany)
7. Seiko Holdings Corporation (Japan)
8. Group Dc (Canada)
9. Label Lock (U.K.)
10. Polylabel.com (Canada)
This report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the security labels market comprehensively and provides the closest approximation of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. This report will help stakeholders to understand the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand their competitors and gain more insights into their position in the business.
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