Blockchain Based Solutions for Security Labels Market, By Identification Method (Bar code, Radio Frequency Identification and Holographic), By End-Use Industry (FMCG, Automotive, Retail, Consumer Electronics and Healthcare), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)- Market Trends, Analysis, and Forecast till 2029

Blockchain is a record keeping technology. It is widely used in cryptocurrency to store the information and in security labels to protect packaged products from counterfeiting.  Security labels enable smart tractability of the product in the supply chain, ensure the authenticity of the product. Moreover, the use of security labels also helps to avoid tampering, adulterating, and counterfeiting of the original product. Security labels are a vital part of the anti-counterfeiting solutions. The Blockchain based solutions for security labels Market accounted for US$ 22,000.2 million in 2019 and is anticipated to register a CAGR of 14.3%.

Impact of Covid-19 pandemic on market

With the outbreak of the COVID-19, various businesses are at the forefront to combat this pandemic. The pandemic has hindered the industrial supply chain and also disrupted the product segment. Government across the countries has imposed strict lockdown to limit the spread of disease. With the persisting impact of COVID-19, physical shopping has been radically altered. Several countries in Europe including the U.K., Spain, France, and Italy have implemented precautionary measures for their consumers. Enterprises in these countries are shifting their business operations to E-commerce platforms in order to support their consumers’ need to make purchases of goods across all sectors. This report will quantify the impact of a pandemic on the blockchain based solutions for security labels market.

Increasing advance packaging

Counterfeiting may be a significant concern across the worldwide food and beverage industry, specifically the alcohol industry, and beverage companies worldwide lose over billions of revenue. For instance, alcohol companies in Europe are losing sales revenue of around US$ 3.5 to 4 billion per annum due to counterfeiting of wine and spirits. Advance packaging, which incorporates smart security labeling, can help consumers to see the authenticity of the beverage. This is able to provide consumers with genuine products and enhanced revenue for beverage companies. As a result, companies are implementing smart labeling solutions for alcohol packaging. For instance, Adelphi, a Scotland-based alcohol manufacturing company, has adopted block chain-verified security labeling for its limited-edition single malt bottles. The authenticity of the bottle is often confirmed by scanning the QR code labeled on the neck of the bottle. Furthermore, Beer brand downstream, a beer company, has implemented QR code labeling which is an integral a part of their bottle aesthetic.

Increasing acceptance of blockchain for payments in the retail sector

The increasing acceptance of blockchain for payments in the retail sector is likely to garner the demand during the forecast time period. Numerous retailers and their suppliers have opted to use blockchain to simplify transactional processes and reduce additional expenses. UMT AG, the financial services company based in Germany, entered into an agreement with blockchain specialist Coinsilium to explore the use of blockchain technology in its service areas for retailers concerning B2C payments. Further, online retailers, such as Etsy, have accepted the use of bitcoins for payments. These transitions are anticipated to fuel the blockchain in retail market growth during the forecast timeframe.

The global blockchain based solutions for security labels market is segmented based on identification method, end-use industry, and region.

On the basis of identification method, the global blockchain based solutions for security labels market is segmented into bar code, radio frequency identification and holographic. Based on end-use industry, the market is segmented into FMCG, automotive, retail, consumer electronics and healthcare.

Regional Insights:

On region the global blockchain based solutions for security labels market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held dominant position in the global Blockchain Based Solutions for Security Labels market in 2019 and is projected to retain its dominance throughout the forecast period, owing to product developments done by the Security label companies in North America.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the global blockchain based solutions for security labels market report based on identification method, end-use industry, and region.

Global Blockchain based solutions for security labels Market, By Identification Method:

• Bar code
• Radio Frequency Identification
• Holographic

Global Blockchain based solutions for security labels Market, By End-Use Industry:

• FMCG
• Automotive
• Retail
• Consumer Electronics
• Healthcare

Global Blockchain based solutions for security labels Market, By Region:

• • • North America
      • • U.S.
        • Canada
    • Europe
      • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa

The key players operating in the global blockchain based solutions for security labels market includes 3M Company, Avery Dennison Corporation, CCL Industries Inc., Honeywell International Inc., UPM Raflatac, Inc., OpSec Security, Inc., Tesa SE, Brady Corporation, Covectra, Inc., and Mega Fortris (Malaysia) Sdn. Bhd. The market is especially characterized by collaborations and partnerships between the businesses and acquisitions of smaller players as a part of strategic expansion as well as launching their new product specimen. For instance, In March 2017, FIR-Gmov Ltd started the development of the world’s first anti-counterfeit system equipped with 3D label technology. With this platform, end users can easily distinguish between authentic and counterfeit products. The company is planning to partner with multiple 3D label manufactures in 2020 to offer secure labelling solutions across the North America market.

• 3M Company
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• Avery Dennison Corporation
• CCL Industries Inc.
• Honeywell International Inc.
• UPM Raflatac, Inc.
• OpSec Security, Inc.
• Tesa SE
• Brady Corporation
• Covectra, Inc.
• Mega Fortris (Malaysia) Sdn. Bhd