The global tamper evident labels market is estimated to be valued at US$ 16.8 billion in 2023 and is estimated to grow at a CAGR of 5.4% during the forecast period of 2023-2033.
The tamper-evident labels market is experiencing significant growth in recent years due to the increasing demand for secure packaging solutions. Tamper-evident labels are widely used in various industries, including food and beverage, pharmaceuticals, cosmetics, and personal care, to ensure the safety and integrity of products.
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In recent years, there is an increase in focus on product safety, particularly in the food & beverage and pharmaceutical industries. Tamper-evident labels are an effective way to prevent tampering and contamination, thus ensuring the safety and quality of products. Further, with the increasing competition in the market, companies are looking for ways to differentiate their products from others.
Customized tamper-evident labels with unique designs, colors, and patterns help companies create a unique identity for their brand. In addition, governments worldwide are imposing strict regulations for the use of tamper-evident labels in certain industries to prevent counterfeiting and ensure product safety. This has led to increased demand for tamper-evident labels in these industries.
Key Takeaways from Market Study
- The global temper evident labels market is projected to grow at 5.4% CAGR and reach US$ 16.8 billion in 2023
- The global temper evident labels market is estimated to be valued at US$ 28.5 billion in 2023
- North America tops the global temper evident labels market and is estimated to account for 28.7% market share in 2022
- North America is estimated to grow at a CAGR of 4.5% during the forecast period
- By technology type, barcodes are estimated to account for 45.6% of global market share in 2023
- Based on the material type, plastic-based tamper evident labels rule the market and accounted for 91.6% of the market share in 2022
“Surging Demand for Tamper Evident Labels from Booming E-commerce is Anticipated to Drive the Market Growth” says a Fact.MR analyst.
Market Growth Stratagems
The tamper-evident labels market is highly competitive, and players are adopting various growth strategies to stay ahead of their competitors. Companies are launching new and innovative tamper-evident labels to meet the evolving needs of their customers. For instance, Avery Dennison launched a new tamper-evident label, which can be easily applied to curved or irregular surfaces.
Also, companies are expanding their product portfolio by offering a wide range of tamper-evident labels with different security features to cater to the diverse needs of their customers. This strategy helps companies to increase their market share and revenue.
Tamper-evident label market players are forming strategic partnerships and collaborations to expand their geographical reach and product offerings. Market players are also focusing on expanding their product portfolios to cater to a wide range of industries and applications. For instance, in February 2021, 3M launched a new tamper-evident label that uses holographic technology to provide enhanced security features.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the temper evident labels market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of material type (pet-based, and paper-based), technology type (barcodes, radio frequency identification, near field communication tag, and sensing labels), pattern type (VOID, checkboard, destructible, and other customized patterns), end-use industry (food & beverages, alcoholic, non-alcoholic, cosmetic & personal care, liquor, pharmaceuticals, and others (electronics, chemicals, & others), and across major regions of the world.