PUBLISHER: The Business Research Company | PRODUCT CODE: 1499930
PUBLISHER: The Business Research Company | PRODUCT CODE: 1499930
Security seals encompass physical devices or mechanisms designed to secure containers, packages, doors, or enclosures, thus preventing unauthorized access, tampering, theft, or contamination. Widely utilized across industries, these seals play a crucial role in maintaining the integrity and security of goods throughout storage, transit, and distribution processes.
The primary products within the security seals category are metal and plastic security seals. Metal security seals are renowned for their durability and tamper-evident features, making them suitable for securing various items such as containers, doors, and equipment. Available in fixed and adjustable configurations, these seals find application across multiple sectors including transport, logistics, packaging, e-commerce, retail, banking, healthcare, aerospace, defense, food and beverage, among others.
The security seals market research report is one of a series of new reports from The Business Research Company that provides security seals market statistics, including security seals industry global market size, regional shares, competitors with a security seals market share, detailed security seals market segments, market trends and opportunities, and any further data you may need to thrive in the security seals industry. This security seals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The security seals market size has grown rapidly in recent years. It will grow from $0.75 billion in 2023 to $0.83 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth observed in the historic period can be attributed to several factors, including the rising incidents of theft and tampering, a heightened emphasis on brand protection and building customer trust, the drive towards enhancing logistical efficiency and inventory management practices, an increased focus on ensuring cargo security, and various government initiatives aimed at strengthening border security measures. These factors collectively contributed to the growth trajectory during this period within the security seals industry.
The security seals market size is expected to see rapid growth in the next few years. It will grow to $1.25 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The forecasted growth is driven by escalating threats of terrorism and crime, emerging industry verticals, increased infrastructure investments, growing product safety awareness, and a shift towards sustainable packaging. Major trends include RFID/NFC adoption, tamper-evident enhancements, blockchain integration, e-commerce expansion, and IoT/analytics integration.
The security seals market is poised for growth, driven by the rapid expansion of transportation and logistics. Transportation and logistics encompass the planning, implementation, and control of goods, services, and information from origin to consumption points. This growth is spurred by factors like increased globalization of trade, the rapid rise of e-commerce, technological advancements, higher customer expectations, supply chain optimization efforts, and regulatory changes. Security seals play a crucial role in this sector, securing containers, trucks, trailers, and shipments to maintain goods' integrity during transit and provide evidence of tampering or unauthorized access. For example, in May 2023, the Bureau of Transportation Statistics projected a rise in shipment values across transportation modes, indicating a shift from $1,001 per ton in 2023 to $1,256 per ton by 2050 (adjusted for inflation), highlighting the market's growth driven by transportation and logistics expansion.
Leading companies in the security seal market are innovating with eco-friendly and biodegradable materials, incorporating advanced technologies like tamper-evident features to meet the increasing demand for sustainable and secure packaging solutions. Tamper-evident technology involves tools and techniques to detect and prevent unauthorized access, tampering, or manipulation of products, documents, or packages. For instance, in August 2021, Securikett introduced a paper-based security seal with tamper-evident technology, providing both security and environmental benefits. This solution protects cardboard packaging from tampering while supporting a circular economy, displaying a 'TAMPERED' message through its Wash VOID function upon any tampering attempt.
In April 2022, Madison Industries expanded its presence in the security seals market through the acquisition of TydenBrooks, a US-based safety and security seal manufacturer. This strategic move added new products, customers, and market channels to Madison Industries' portfolio of safety and flow solutions, strengthening its position in the industry and enhancing its ability to meet evolving market demands.
Major companies operating in the security seals market are W.W Grainger Inc., American Casting Manufacturing Corporation, Zebra Technologies, Universal Group, Tesa Assa Abloy, XPO Logistics, Brady Corporation, Transport Security, Tyden Brooks, Essentra plc, LINPAC Packaging, EuroSea, Unisto, Orbis Machinery, Label makers Group Information, Precintia Seguridad, Savi technology, Mega Fortris Group, Leghorn Group Srl, Versapak International Ltd., Hoefon Security, Cambridge Security Seals, Dickey Manufacturing, Acme Seals Limited, Shandong Tengxin Seal Co. Ltd.
North America was the largest region in the security seals market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the security seals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the security seals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The security seals market consists of sales of products such as tamper-evident seals, barrier seals, electronic seals, cable seals, bolt seals, and padlock seals. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Security Seals Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on security seals market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for security seals? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The security seals market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.