Zion Market Research, the market research group announced the analysis report titled ‘Security Bags Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024’
Global Security Bags Market: Overview
The customer preference is shifting towards flexible, secure, and convenient modes of packaging. The traditional large and heavy-weight briefcases have now been replaced by small-sized, light, and convenient security bags. The security bags can also be equipped with added features such as warning indicator against various types of intrusion and hence security bags are generating a lot of demand in the market. They are available as disposable security bags and multi-use security bags. The multi-use security bags are used extensively for shipping cheques, paper currency, coin and debit/credit cards while disposable security bags are used for carrying forensic samples.
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Global Security Bags Market: Segmentation
The global security bags market is segmented into its type, material used, application, end-user, and geography. On the basis of type, the market is divided into disposable security bags and multi-use security bags. Based on material used, the market is classified into high-density polyethylene and low-density polyethylene. On the basis of application, the market is categorized into evidence bags, dice or card bags, strap bags, cash control bags, coin deposit bags, vault bundle bags, bank deposit bags, and others. Based on end-user, the market is divided into personal use, batch samples, forensic department, banking, financial services, and insurance sector. On the basis of geography, the market is segregated into North America, Europe, Latin America, the Middle East and Africa, and Asia Pacific.
Global Security Bags Market: Growth Factors
Nowadays, the consumer demand is shifting towards bags with enhanced security features. This has boosted the demand of the security bags market. Features of the bags such as temper-resistance, lightweight, and reduced cost are influencing the growth radically. The security bags are available in small sizes with added features such as flexibility and convenience. Also, there is a broad scope for disposable security bags which will further escalate the demand in the global security bags market. However, raw materials used in the manufacturing process of security bags have dynamic prices. This may affect the market growth adversely.
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Global Security Bags Market: Regional Analysis
The security bags market is dominated by the Asia-Pacific region. This growth is mainly due to the increasing inclination of people towards secured packaging solutions. Development of the BFSI sector in India and China are also expected to boost the market demand. Other countries in Asia-Pacific region are showing considerable market growth which includes Australia, Japan, and New Zealand. Moderate growth of the market will be witnessed in the North America and European regions owing to the stable economic conditions in these regions. Also, demand for security bags will increase significantly in Latin America and the Middle East and Africa during the forecast period.
Global Security Bags Market: Competitive Players
Some of the major players in the security bags market include Shields Bag & Printing Co., Ampac Holdings LLC, Initial Packaging Solutions Ltd., A. Rifkin Co., Dhwani Polyprints Pvt. Ltd., B-Sealed Nz Pty. Ltd., GlobalPack and Packaging Horizons Corporation.
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Global Security Bags Market by Regional Segment Analysis: North America (U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa
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