At 7.4% CAGR, the Asia Pacific Retail Security Tags Market is Projected to be Worth US$ 418.73 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the Asia Pacific retail security tags market was valued at US$ 235.78 in 2022 and is expected to reach US$ 418.73 million by 2030, registering a CAGR of 7.4% from 2022 to 2030. Growing shoplifting cases and rising number of supermarkets and hypermarkets are among the critical factors attributed to the Asia Pacific retail security tags market expansion.

Shoplifting or retail fraud is the theft of goods from retail outlets. There is an increase in incidents of shoplifting across the region. The rising cost of living is one of the major factors catalyzing the number of shoplifting cases worldwide. Due to rising shoplifting cases, retailers suffer huge losses that hamper their business performance and profitability. For instance, according to a report by National Retail Federation, the total store loss was US$ 453,940 per US$ 1 billion in sales in 2015 and increased to US$ 719,458 in 2020. The rise in shoplifting cases generates the need for installing security solutions, such as security tags, across retail stores. Retail security firms use security tags with different technologies, such as barcodes and RFID, to prevent theft and trigger an alarm when someone tries to steal a tagged item from the retail store. These tags help in checkpoint retail security to cut down on shoplifting losses.

On the contrary, high presence of unorganized retail sector on hamper the growth Asia Pacific Retail Security Tags market.

In terms of technology, the Asia Pacific retail security tags market is categorized into RF & RFID, AM, and others. The RF & RFID segment held 51.0% share of the Asia Pacific retail security tags market in 2022, amassing US$ 120.23 million. It is projected to garner US$ 219.81 million by 2030 to expand at 7.8% CAGR during 2022–2030.

In terms of material, the Asia Pacific retail security tags market is categorized into paper and plastic. The plastic segment held 81.7% share of the Asia Pacific retail security tags market in 2022, amassing US$ 192.69 million. It is projected to garner US$ 353.91 million by 2030 to expand at 7.9% CAGR during 2022–2030.

In terms of print type, the Asia Pacific retail security tags market is categorized printable and non-printable. The non-printable segment held 62.7% share of the Asia Pacific retail security tags market in 2022, amassing US$ 147.85 million. It is projected to garner US$ 245.42 million by 2030 to expand at 6.5% CAGR during 2022–2030.

In terms of application, the Asia Pacific retail security tags market is categorized into apparel & fashion accessories, cosmetics & pharmaceuticals, and others. The apparel & fashion accessories segment held 44.5% share of the Asia Pacific retail security tags market in 2022, amassing US$ 104.88 million. It is projected to garner US$ 178.00 million by 2030 to expand at 6.8% CAGR during 2022–2030.

Based on country, the Asia Pacific retail security tags market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China held 31.6% share of Asia Pacific market in 2022, amassing US$ 74.47 million. It is projected to garner US$ 138.05 million by 2030 to expand at 8.0% CAGR during 2022–2030.

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

• 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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