The rise in demand for consumer goods is increasing the demand for Tamper Evident Band Applicators market globally
The global Tamper Evident Band Applicators market size is projected to reach approximately USD 11.14 Billion by 2033, at a CAGR of 6.28% from 2023 to 2033. Tamper-evident band applicators are an effective way to provide protection and security to consumer products. They provide tamper evidence in the form of visible indicators on the product. The common Machine Types of tamper-evident band applicators are shrunk, plastic stretch, and holographic labels. A variety of industries and Banding Machine Types utilize tamper-evident band applicators for a wide range of purposes including serial numbers, lot codes, shelf-life expiration dates, child safety, tampering detection, and anti-counterfeiting measures.
COVID-19 Impact Analysis
COVID-19 is likely to have contributed to lower-than-expected manufacturing and demand for tamper-evident banding applicators across the world, as the market slowed down throughout Q2 and Q3 of FY2020. The manufacturing industry was adversely affected by restrictions, borders closure, and the lockdown imposed by the government. This put most industries in distress resulting in a slight decrease in the sale of tamper-evident band applicators. The industries started up again with a limited shutdown, but there was increased demand from the healthcare and pharmaceutical industries and thus forcing companies to increase production resulting in various other machines being manufactured at this time.
The Tamper Evident Band Applicators market is expected to witness significant growth on the account of several strong influencing factors including increasing growth in the packaging industry, increasing applications in the packaging of pharmaceutical products, and growing occurrence of counterfeit products. Additionally, the growing demand for eco-friendly packaging Applications is expected to increase market avenues for Tamper Evident Band Applicators companies. However, availability of multiple substitutes is expected to impact the industry growth negatively.
- Increasing Growth In The Packaging Industry
The rise in demand for consumer goods coupled with the increased establishment of retail outlets has driven packaging companies to offer anti-counterfeiting products. Additionally, tamper-evident bands assure customers that there is no presence of malfunction with the product seal. Tamper-evident band applicators are an extremely vital part of the packaging industry and will continue to be essential in the years to come. Eventually, as more companies adopt this feature by placing tamper-evident bands on their products and retail outlets continue to increase, the requirements for tamper-evident banding applicators are expected to rise significantly over time and thus empower market growth.
- Availability Of Close Substitutes
The presence of several tamper-evident packaging substitutes such as tamper-evident labels, closures, liners, etc. has restricted the tamper-evident bands market, in turn harming the tamper-evident banding applicators market. With the advent of technology and its rapid advancement, there are many substitutes as well as substitute technologies that have been developed for several applications. These technological advancements often offer more cost-effective solutions than traditional ones. Moreover, in the manufacturing industry, there is competition at every turn. This level of competition drives businesses to have their products stand out from their competitors and in doing so, one must be creative. Unfortunately, tamper-evident band applicators are poorly differentiated and therefore manufacturers cannot use differentiation as a strategy to compete in the market since they face strong competition and substitutes with other similar band applicators. These tamper-evident band applicators are perfectly competitive products as depicted by the fact that many rivals offer the same product at relatively uniform prices, therefore, forcing all competitors to sell at one price level. Because of this competitors’ tactic, profit margins within this market are low creating less motivation for manufacturers.
- Growing Demand For Eco-Friendly Packaging Applications
As more and more consumers become more aware of the harmful effects of non-recyclable plastics, consumers have started looking for eco-friendly alternatives. For instance, reusable and recyclable packaging Applications may be one option for them to consider since big changes are happening in the industry. One such sustainable innovation is the adoption of shrink sleeve labels. Shrink sleeves offer significant sustainability advantages over other labeling alternatives. Since shrink labels are removable, once a bottle is on the recycling line, it can be stripped off and recycled separately from the container. For this reason, shrink sleeves have an advantage over tape labels (which stick to the packaging) and stick-on labels (which cannot be recycled at all). As a result of recent advances in film manufacturing technology, new shrink sleeves are thinner than those made just a few years ago. The amount of Application used in some shrink-sleeve labels today has been reduced by 30%-50%. As people are becoming more conscious about their lifestyles as well as their purchases, demand is growing and the industry will be one of the fastest-growing sectors of the packaging supply industry in the foreseeable future.
- Availability of multiple substitutes
The availability of multiple substitutes is indeed a major challenge in the tamper evident banding applicator market. Tamper evident banding applicators are used to apply tamper-evident bands or seals to product packaging to ensure that the product has not been tampered with or opened before it reaches the end consumer. These applicators are widely used in the food and beverage industry, pharmaceutical industry, and other industries where product safety and security are critical.
By Machine Type
Based on Machine Machine Type, the global Tamper Evident Band Applicators market has been segmented based on Standalone and In-Line. The Standalone segment is the fastest growing in the global Tamper Evident Band Applicators market.
By Banding Speed
Based on Banding Speed, the global Tamper Evident Band Applicators market has been segmented based on Up to 60 CPM, 60 to 130 CPM, 130 to 200 cpm, 200 to 350 CPM, and Above 350 CPM. The 200 to 350 CPM segment is expected to be the fastest-growing in the global Tamper Evident Band Applicators market.
Based on the application, the global Tamper Evident Band Applicators market has been segmented based on Bottles, Tubs, Jars, and Clamshells. The Bottles segment is expected to be the largest in the global Tamper Evident Band Applicators market.
By Banding Machine Type
Based on the banding Machine Type, the global Tamper Evident Band Applicators market has been segmented based on Full-Body Banding, Neck Banding. The Neck Banding segment is expected to be the largest in the global Tamper Evident Band Applicators market.
Based on the end-use, the global Tamper Evident Band Applicators market has been segmented based on Food, Beverage, Homecare, Personal Care, and Pharmaceutical. The Beverage segment is expected to be the largest in the global Tamper Evident Band Applicators market.
Global Tamper Evident Band Applicators Market Share, by Segmentation
By region, the global Tamper Evident Band Applicators market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. The North American region holds the largest market for the Tamper Evident Band Applicators business.
Asia Pacific is expected to be the second largest region accounting for the highest. Major factors impacting the growth of the market includes increased safety and security concerns that have led many consumers’ preferences to change from larger sizes to smaller individual; and with private labeling becoming a bigger advantage especially in places like China, there will be an increase in branded & private-labeled products where tamper evidence packaging or ‘smart packaging’ will help brands monitor, prevent tampering of their products. Moreover, the tamper-evident applicator market is also gaining traction in Asia due to the increasing number of small and large-scale industries and strong economic development in most parts of the region.
North America Market
The factor impacting the growth of tamper-evident banding applicators in the North American region are its wide benefits, including increased speeds in production and increased safety of the product. Intelligent packaging machines are one of the latest innovations in packaging. Some additional benefits of using this Machine Type of machine include higher precision because there is no human intervention required; faster results due to the usage of robots; and customization options with different speed settings. Tamper evident banding applicators are now a commonly used solution in many physical retail stores as a new way to prevent tampering by customers. These machines work on flocked or adhesive-backed seals that help fasten them onto products securely. But the benefit of these machines goes even further because they can apply tamper evidence to unattended items, which means they can be used on long scale production lines resulting in the highest growth of market in future.
The market comprises tier-1, tier-2, and local players. With their wide product portfolios, tier-1 and tier-2 players have a global reach. Because of their strategic innovations and broad regional presence, companies such as Axon, PDC International Corp., Accutek Packaging Equipment Companies, Inc., and Bandall International, lead the global Tamper Evident Band Applicators business. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as growth, product releases, and alliances.
- PDC International Corp.
- Accutek Packaging Equipment Companies, Inc.
- Bandall International
- In November 2021, ProMach Inc announced the acquisition of CL&D Graphics and CL&D Digital. This acquisition will strengthen its ability to provide complete machinery and Application solutions for a broad range of packaging applications.
- In February 2021, ProMach Inc announced the acquisition of CL&D Graphics and CL&D Digital. This acquisition will strengthen its ability to provide complete machinery and Application solutions for a broad range of packaging applications.
Scope of the Report
Global Tamper Evident Band Applicators Market, by Machine Machine Type
Global Tamper Evident Band Applicators Market, by Banding Speed
- Up to 60 cpm
- 60 to 130 cpm
- 130 to 200 cpm
- 200 to 350 cpm
- Above 350 cpm
Global Tamper Evident Band Applicators Market, by Banding Machine Type
- Full-Body Banding
- Neck Banding
Global Tamper Evident Band Applicators Market, by End-Use
- Personal Care
Global Tamper Evident Band Applicators Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World
|Market Size||2032: $ 11.14 Billion|
|CAGR||6.28% CAGR (2023-2033)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Key Segmentations||Machine Type, Banding Speed, Application, Banding Machine Type, End-Use|
|Geographies Covered||North America, Europe, Asia-Pacific, Latin America, Middle East, Africa|
|Key Vendors||Axon, PDC International Corp., Accutek Packaging Equipment Companies, Inc., Bandall International|
|Key Market Opportunities||Pharmaceutical sector growth
• Industrial sector growth
• Factory automation market growth
|Key Market Drivers||Increasing growth in the packaging industry
• Increasing Banding Machine Types in the packaging of pharmaceutical products
• Growing occurence of counterfeit products
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Tamper Evident Band Applicators market trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities in the future
- Tamper Evident Band Applicators market historical market size for the year 2021, and forecast from 2023 to 2033
- Tamper Evident Band Applicators market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
- To identify and understand the various factors involved in the global Tamper Evident Band Applicators market affected by the pandemic
- To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
Frequently Asked Questions (FAQ)
- What is the study period of this market?
- The study period of the global Tamper Evident Band Applicators market is 2023 – 2033
- What is the growth rate of the global Tamper Evident Band Applicators market?
- The global Tamper Evident Band Applicators market is growing at a CAGR of ~ 28% over the next 11 years
- Which region has the highest growth rate in the global Tamper Evident Band Applicators market?
- Asia Pacific is expected to register the highest CAGR during 2023-2033
- Which region has the largest share in the global Tamper Evident Band Applicators market?
- North America holds the largest share in 2022
- Who are the key players in the global Tamper Evident Band Applicators market?
- Axon, PDC International Corp., Accutek Packaging Equipment Companies, Inc., and Bandall International are the major companies operating in the global Tamper Evident Band Applicators
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