1. Market Research
  2. > Transportation
  3. > Logistics and Freight Market Trends

Security Bags Market: Global Industry Analysis 2012 - 2016 and Opportunity Assessment 2017 - 2027

  • August 2017
  • 258 pages
  • Future Market Insight Global & Consulting Pvt Ltd
Report ID: 5094948

Summary

Table of Contents

Increased use of cash/coin deposit bags and pharmaceutical distribution bags noticed across the globe

Our consumer survey of end users of security bags reveals that consumers seem to be satisfied with cash/coin deposit bags as these meet the basic needs of most customers. However, in the forthcoming years, strap bags and pharmaceutical distribution bags are likely to gain traction, owing to the tamper evidence feature offered by these bags. Most of our survey respondents seem to be inclined towards the use of cash/coin deposit bags owing to the convenience of use in banks and financial institutions. The healthcare industry has opened its doors to pharmaceutical distribution bags in the last few years and it is anticipated that these bags will soon become popular with consumers of security bags. Other security bags such as card & dice bags are not very popular owing to the fact that these are largely used in casinos, and casinos are banned in certain countries. Evidence bags are chiefly used by government agencies and are related to public safety.

Key survey findings pertaining to the application of security bags

Our survey reveals that tamper evidence, transparency, and price point are the prime most considerations of consumers when choosing security bags. This might explain the growing popularity of strap bags and pharmaceutical distribution bags. However, cash/coin deposit bags will continue to remain a consumer favourite, as is evident from the immensely high market share (about 70%) likely to be held by this segment in the current year 2017 and by the end of the forecast period in 2027. In terms of CAGR, the cash/coin deposit bags segment and the strap bags segment will stand neck-to-neck at 8.9%. The other consumer favourite – pharmaceutical distribution bags – will likely hold about 10% market share during the forecast period and take the second place in terms of CAGR, registering a good revenue growth at 8.7% during the forecast period. Fighting for second place in terms of CAGR is also the card & dice bags segment, projected to grow at 8.7% CAGR in terms of value over the forecast period.Our analysis of the global security bags market reveals a very positive market scenario of the industry during the forecast period. With an estimated market valuation of slightly more than US$ 300 Mn in 2017, the global security bags market is projected to reach a market value in excess of US$ 700 Mn by the end of 2027, attributed to a CAGR of 8.8% during the decadal study. When we consider volume, the global security bags market is estimated to be pegged at about 24,000 tonnes in 2017 and will expand at a CAGR of 7.9% to reach about 52,000 tonnes towards the close of 2027.

Several dynamics impact the growth of the global security bags market

At the outset, a robust growth in courier and logistics services has been observed across the globe. As this industry utilises security bags to a great extent, this automatically becomes a key growth driver for the global security bags market. Furthermore, a large number of business houses necessitating cash-in-transit has also augmented the adoption of security bags, thereby fuelling market growth. A steady growth in the banking sector across the world creating increased demand for security products is another key market driver.

The market is not devoid of challenges

Advancements in technology and the changing face of the global industrial ecosystem poses certain challenges to every market, and the global security bags market is no exception. A growing consumer shift towards digital payments will restrict the scope of application of security bags. Further, consumers prefer cheaper packaging of security products and this might hamper the adoption of highly priced security bags, thereby restraining market growth to some extent.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Veronica helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

Purchase Reports From Reputable Market Research Publishers

Automated Parcel Delivery Terminals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

  • $ 5795
  • Industry report
  • June 2017
  • by Transparency Market Research

Global Automated Parcel Delivery Terminals Market: Overview Automated parcel delivery terminals are the state-of-the-art delivery solutions, developed to simplify modern-day logistic operation. These are ...

Connected Logistics Market - Global Industry Analysis Size Share Growth Trends and Forecast 2017 - 2025

  • $ 5795
  • Industry report
  • August 2017
  • by Transparency Market Research

Global Connected Logistics Market: Overview Traditionally computers have been used to monitor and track logistics in transit. Connected logistics add an all new dimension to the management of logistics ...

Digital Freight Brokerage Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

  • $ 5795
  • Industry report
  • September 2017
  • by Transparency Market Research

Global Digital Freight Brokerage Market: Overview The “Digital Freight Brokerage Market (Transportation Mode – Roadway, Seaway, Airway, Railway; Industry Verticals – Food & Beverages, Automotive, ...


ref:plp2017

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.