The retail security tags market size is projected to reach US$ 1,151.58 million by 2030 from US$ 701.91 million in 2022. The market is expected to register a CAGR of 5.60% during 2022–2030. Digitalization in the retail industry and the growing launch of retail outlets are likely to remain key trends in the market.
The retail security tags market is gaining traction owing to factors such as the opening of new outlets, a rise in supermarkets and hypermarkets, and a rise in digitalization in the retail sector. The rising concerns over retail thefts lead to the installation of advanced security measures in the retail outlets, driving the market growth. The rise in the retail industry, growing urbanization, and rise in consumer disposable income are some of the factors fuelling the retail industry, which further drives the retail security tags market.
A retail security tag is a security solution in the retail store that is installed to prevent theft and shoplifting cases. This security solution also helps in the efficient supply chain and inventory management. Global retail brands, such as 7-Eleven, Walmart, and others, are engaged to expand their presence across the globe, leading to the adoption of security solutions.
You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities
Retail Security Tags Market: Strategic Insights
The shoplifting cases are rising across the globe. Due to this, global brands suffer through a huge loss in terms of money. Therefore, they install advanced security solutions to avoid such shoplifting cases. To cater to such demand, various market players provide efficient solutions. For example, Easitag, a provider of security tags and EAS solutions, offers RFID tags and chips to the retail sector. It also provides an EAS system, which can reduce theft by 80%. These systems can increase profits and quickly identify missing stocks and are considered a cost-effective solution.
The retail industry includes a range of retail businesses, hypermarkets/supermarkets, and specialty stores that are growing across the globe. In addition, there is a rise in new supermarkets and clothing stores across the globe. For instance, in January 2022, Gémo, a French brand, announced it to open ~100 stores by 2025. It offers a wide range of shoes, clothing, and accessories, where retail security tags are used for inventory management to prevent theft. Thus, the rise in the retail industry, coupled with an increase in the opening of new supermarkets and clothing stores, fuels the retail security tags market.
Key segments that contributed to the derivation of the retail security tags market analysis are the technology, print type, material, and application.
The geographic scope of the retail security tags market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Europe region held a significant market share in 2023. The growing retail industry across Europe is a major factor contributing to the adoption of security solutions. The rise in the construction of new supermarkets generates the demand for retail security tags that help to manage inventory. In addition, in 2022, there was a rise in new product development across Europe to prevent retail theft. For instance, in June 2022, Century Europe, a manufacturer of retail security solutions, launched RFID Multi Alarm Cable Tag T313-U9 using RFID technology to track and identify the product and avoid its theft. In addition, in October 2022, Century Europe launched RFID+EAS Multi Alarm Cable Tag T313 to improve its security and inventory management. This dual technology tag can be reused for different products and helps to minimize shoplifting cases. Thus, new product development to manage product inventory and prevent theft is increasing the demand for retail security tags in the retail industry, thereby fueling the retail security tags market growth in Europe.
The regional trends and factors influencing the Retail Security Tags Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Retail Security Tags Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 701.91 Million |
| Market Size by 2030 | US$ 1,151.58 Million |
| Global CAGR (2022 - 2030) | 6.4% |
| Historical Data | 2020-2021 |
| Forecast period | 2022-2030 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Retail Security Tags Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Retail Security Tags Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The retail security tags market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the retail security tags market are listed below:
The “Retail Security Tags Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:
The estimated value of the retail security tags market will be US$ 1,151.58 million by 2030.
Avery Dennison Corp; 3M Co; Alien Technology, LLC; Brady Corp; Sensormatic Electronics Corp; Checkpoint Systems Inc; Guangzhou Virginland Technology Co Ltd; MaverickLabel.Com Inc; HP Inc, and Century Retail Europe BV are some of the key players operating in the retail security tags market.
The global retail security tags market is estimated to register a CAGR of 5.6% during the forecast period 2022–2030.
The rise in omnichannel retailing is considered a key trend in the retail security tags market.
Digitalization in the retail industry and the growing launch of retail outlets are the key driving factors impacting the retail security tags market.