Online Retail Portals are Gaining Popularity in Europe
Key manufacturers in Europe incurred huge losses due to the pandemic, with the shutting down of several stores in 2020. Europe is home to many fashion capitals that have streets full of retail outlets. The stores suffered the blow of the pandemic due to non-existent footfall in the first half of the year.However, due to the widespread adoption of e-commerce by traditional stores, the manufacturers witnessed a steady recovery in terms of sales and production. Many stores have also reopened with keeping in-store health and safety measures in check and are experiencing average footfall.
As consumers are getting comfortable with online retail portals, the retail industry is witnessing a gradual recovery with prospects for expansion in the future.
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Buoyancy in the automotive industry is likely to complement demand from pharmaceutical industry. Fact.MR expects demand from automotive industry to grow at over 7% CAGR during the forecast period. Government recommendations on implementing tamper-evident features in automobiles, to address vehicular pollution, and establish improved vehicle identification number (VIN) operations continue to uphold the tamper evident labels market growth.
The report estimates barcode technology to remain sought-after among end-use industries, recording volume sales in excess of 5,000 Mn sq. meter. . In a bid to optimize the production cost, manufacturers in the tampers evident labels market persistently seek barcode technology which provides cost-effective and reliable methods of labeling. Study estimates that the RFID and NFC tagged tamper evident labels will witness the most attractive growth both in terms of value and volume against the backdrop of growing digitalization.
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Report Benefits & Key Questions Answered
- Tamper Evident Labels Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Tamper Evident Labels Historical volume analysis: The report provides a comparison of Tamper Evident Labels historical sales and projected sales performance for 2021-2031.
- Tamper Evident Labels Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Tamper Evident Labels market. It carefully gauges the impact of changing healthcare needs of key demographics globally
- Tamper Evident Labels Consumption by demographics: The report investigates consumer behavior affecting Tamper Evident Labels demand outlook for the assessment period. Effect of their keenness for digital trends on Tamper Evident Labels market is carefully analyzed
- Post COVID consumer spending on Tamper Evident Labels: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Tamper Evident Labels market growth.
Chapter 2 – Market Overview
Definition of tamper evident labels, significance of tamper evident labels adoption and a detailed tamper evident labels market segmentation (market structure).
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Steady growth prospects in the tamper evident labels market continued in 2018 and are expected to record 1.6x volume growth through 2028. According to a new Fact.MR study, the market is expected to record volume sales of 11,673 Mn sq. meters by 2028-end. The report opines that the tamper evident labels market will remain consolidated among Tier 3 players, who collectively account for almost half of the market share.
Highlighting the key demand drivers of the tamper evident labels market, Fact.MR’s market study suggests that increasing emphasis on preventing pilferage and product labeling policies in the pharmaceutical industry will remain crucial to the prospects of tamper evident label manufacturers. According to the study, demand for tamper evident labels from the pharmaceutical industry is expected to surpass US$ 7 billion by 2028.
Buoyancy in the automotive industry is likely to complement demand from pharmaceutical industry. Fact.MR expects demand from automotive industry to grow at over 7% CAGR during the forecast period. Government recommendations on implementing tamper-evident features in automobiles, to address vehicular pollution, and establish improved vehicle identification number (VIN) operations continue to uphold the tamper evident labels market growth.
Fact.MR study envisages plastic to be most preferred material for tamper evident labels manufacturing, projected to account for bulk share of the market share over the period of forecast. Vinyl continues to capture higher demand among plastic variants, accounting for approximately half volume sales. Demand for vinyl is majorly concentrate in the pharmaceutical and electronics industry, where meeting performance requirements in altering temperature and moisture conditions.
The report estimates barcode technology to remain sought-after among end-use industries, recording volume sales in excess of 5,000 Mn sq. meter. . In a bid to optimize the production cost, manufacturers in the tampers evident labels market persistently seek barcode technology which provides cost-effective and reliable methods of labeling. Study estimates that the RFID and NFC tagged tamper evident labels will witness the most attractive growth both in terms of value and volume against the backdrop of growing digitalization.
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Additional Questions Answered
Apart from aforementioned findings, the tamper evident labels market report offers additional insights on various questions such as:
- Which is the most attractive end use industry for tamper evident labels from an application standpoint?
- Which is the most lucrative regional market for tamper evident labels in terms of use?
- Which tamper evident labels technology is likely to gain high traction during the period of forecast?
- Which is the most preferred material type for tamper evident labels?
- Which is the most used form of tamper evident labels?
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