At 6.2% CAGR, the North America Retail Security Tags Market is Projected to be Worth US$ 344.97 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the North America retail security tags market was valued at US$ 212.46 in 2022 and is expected to reach US$ 344.97 million by 2030, registering a CAGR of 6.2% from 2022 to 2030. Adoption of omnichannel retailing and rising number of supermarkets and hypermarkets are among the critical factors attributed to the North America retail security tags market expansion.

The rising disposable income of people, the buying power of customers is increasing rapidly, contributing to their access to various shopping channels, including physical and online shopping. Hence, retailers are adopting various strategies to reach more customers and fuel their business growth. One such strategy is omnichannel retailing.

Omnichannel strategy is a strategy that retailers and brands adopt to engage and reach more customers through multiple integrated digital and physical touchpoints, such as physical stores, e-commerce websites, social media, and apps. In the modern retail landscape, omnichannel retailing helps integrate multiple channels to provide a seamless shopping experience to customers. It helps retailers increase their profitability compared to single-channel retailing. It enhances customer engagement, improves client reach, and expands the retailer's footprint. Digitalization in retail has further augmented the adoption of omnichannel retailing. In addition, it helps retailers to gain competitive advantages over others. Retailers that use omnichannel retailing include DSW, Inc.; Urban Outfitters, Inc.; Abercrombie & Fitch; Foot Locker; Zara; Ulta Beauty, Inc.; PetSmart; Sierra; Lenskart; and Pepperfry.

Handling the products in omnichannel retailing generates the need for an advanced solution to track inventory, manage the supply chain, and reduce theft, which is anticipated to fuel the demand for security tags, driving the North America retail security tags market.

On the contrary, high presence of unorganized retail sector on hamper the growth North America retail security tags market.

In terms of technology, the North America retail security tags market is categorized into RF & RFID, AM, and others. The RF & RFID segment held 53.0% share of the North America retail security tags market in 2022, amassing US$ 112.58 million. It is projected to garner US$ 187.72 million by 2030 to expand at 6.6% CAGR during 2022–2030.

In terms of material, the North America retail security tags market is categorized into paper and plastic. The plastic segment held 80.6% share of the North America retail security tags market in 2022, amassing US$ 171.19 million. It is projected to garner US$ 288.66 million by 2030 to expand at 6.7% CAGR during 2022–2030.

In terms of print type, the North America retail security tags market is categorized printable and non-printable. The non-printable segment held 65.5% share of the North America retail security tags market in 2022, amassing US$ 139.19 million. It is projected to garner US$ 211.12 million by 2030 to expand at 5.3% CAGR during 2022–2030.

In terms of application, the North America retail security tags market is categorized into apparel & fashion accessories, cosmetics & pharmaceuticals, and others. The apparel & fashion accessories segment held 46.8% share of the North America retail security tags market in 2022, amassing US$ 99.37 million. It is projected to garner US$ 153.50 million by 2030 to expand at 5.6% CAGR during 2022–2030.

Based on country, the North America retail security tags market is categorized into US, Canada, and Mexico. The US held 84.5% share of North America market in 2022, amassing US$ 179.57 million. It is projected to garner US$ 287.71 million by 2030 to expand at 6.1% CAGR during 2022–2030.

Avery Dennison Corp, 3M Co, Alien Technology LLC, Brady Corp, Sensormatic electronics Corp, Check Point Systems Inc, HP Inc, and MaverickLabel.Com Inc, among others.

• In 2021, ThinFilm from Oslo launched a smart label for electronic product security to improve traditional Electronic Article Surveillance (EAS) technology. The result was a new category of anti-shoplifting brands that are easy to integrate into merchandise and compatible with the world's 8.2 MHz radiofrequency EAS infrastructure.
• In Feb 2022, HSI, a leader in Environmental Health and Safety (EHS), agreement and professional development solutions, and Brady Corporation. declared a collaboration to bring configurable safety management solutions (SMS) and additional services to businesses of all sizes. This cooperation expands the reach and growth of HSI in the EHS and SMS space and provides a new level of technology for Brady Corporation to assist organizations in safety, performance, and environmental sustainability.

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