At 5.1% CAGR, the Middle East & Africa Retail security tags market is Projected to be Worth US$ 77.59 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa retail security tags market was valued at US$ 52.01 in 2022 and is expected to reach US$ 77.59 million by 2030, registering a CAGR of 5.1% from 2022 to 2030. Increasing retail outlets by global brands and rising number of supermarkets and hypermarkets are among the critical factors attributed to the Middle East & Africa Retail Security Tags market expansion.

The retail industry contributes a significant amount to the GDP of any country. Rising consumer purchasing power and growing business strategies by the retail market players in categories such as apparel, cosmetics, footwear, watches, beverages, food, and others act as major contributors to the growing retail industry. The inorganic business strategies by retailers to reach more customers further fuels the retail industry.

Retail brands are expanding their footprint across the region to grow their business, contributing to the growing number of retail outlets of fashion and apparel, cosmetics, supermarkets, and groceries.

Thus, the growing number of retail stores contributes to the need for various security solutions to prevent merchandise, manage inventory, and enhance supply chain management, thereby boosting the demand for retail security tags. The adoption of retail security tags helps retailers increase their sales by reducing shoplifting cases and enhancing customer service at the billing counters. This, in turn, is boosting the Middle East & Africa retail security tags market growth.

On the contrary, high presence of unorganized retail sector on hamper the growth Middle East & Africa retail security tags market.

In terms of technology, the Middle East & Africa retail security tags market is categorized into RF & RFID, AM, and others. The RF & RFID segment held 49.4% share of the Middle East & Africa Retail security tags market in 2022, amassing US$ 25.71 million. It is projected to garner US$ 39.61 million by 2030 to expand at 5.6% CAGR during 2022–2030.

In terms of material, the Middle East & Africa retail security tags market is categorized into paper and plastic. The plastic segment held 82.9% share of the Middle East & Africa Retail security tags market in 2022, amassing US$ 43.13 million. It is projected to garner US$ 66.43 million by 2030 to expand at 5.5% CAGR during 2022–2030.

In terms of print type, the Middle East & Africa retail security tags market is categorized printable and non-printable. The non-printable segment held 69.4% share of the Middle East & Africa retail security tags market in 2022, amassing US$ 36.10 million. It is projected to garner US$ 50.89 million by 2030 to expand at 4.4% CAGR during 2022–2030.

In terms of application, the Middle East & Africa Retail security tags market is categorized into apparel & fashion accessories, cosmetics & pharmaceuticals, and others. The apparel & fashion accessories segment held 44.9% share of the Middle East & Africa retail security tags market in 2022, amassing US$ 23.36 million. It is projected to garner US$ 33.36 million by 2030 to expand at 4.6% CAGR during 2022–2030.

Based on country, the Middle East & Africa Retail security tags market is categorized into South Africa, Saudi Arabia, UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa held 47.4% share of Middle East & Africa market in 2022, amassing US$ 24.65 million. It is projected to garner US$ 34.90 million by 2030 to expand at 4.4% CAGR during 2022–2030.

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

• In 2022, Securitas Electronic Security, Inc., an industry-leading professional in retail security, declared a strategic partnership with Nedap to deliver leading RFID, retail, and cloud-based loss prevention solutions. The partnership extended SES contributions to involve Nedap's portfolio of retail offerings, mainly focused on inventory visibility and seamless shopping practices; it contains EAS solutions for retail stores, end-to-end supply chain visibility, unified omnichannel customer experiences, and seamless loss prevention.
• 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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