Security Labels MarketSize and Trends

Market Dynamics

Some properties of security labels such as its premium quality, minimal weight, and recyclability are factors that attract the end-use industries such as food and beverages, pharmaceutical, and others. This results in increasing demand for security labels, thereby driving growth of the security labels market. Digital printing of security labels is an additional benefit for the global security labels market to attract the end-use industries and increase its market value during the forecast period.

However, the additional price of the product as compared to the conventional labels is a major factor that is affecting growth of the global security labels market. Additional cost involved with the premium quality of plastic used for manufacturing labels, ink used for printing, and special compatible software required for the digital printing are not preferred by all the manufacturers. Due to the increased cost of the security labels, most of the end users will not prefer this product, thereby hampering growth of the global security labels market during the forecast period.

Market Outlook

There is increasing demand for security labels in food and beverages and pharmaceutical industries
In case of pharmaceuticals, safe labeling is of highest importance. As conventional labeling is less durable, it can mislead the patient and might be dangerous. In 2016, the North America pharmaceutical industry generated around US$ 450 billion. This exhibits that the demand for pharmaceutical drugs is expected to increase during the forecast period. Pharmaceutical industry being one of the major end use industry, the value for global security labels market is also expected to increase during the forecast period.
Food and beverage industry is also expected to grow in terms of market share during the forecast period. The major reason behind the increasing demand for security labels in this industry is the rising number of packaged food and beverages being consumed by people, globally.