North America Retail Security Tags Market Forecast to 2030 - Regional Analysis - by Technology (RF and RFID), Material (Paper and Plastic), Print Type (Printable and Non-Printable), and Application (Apparel & Fashion Accessories, Cosmetic & Pharmaceutical

North America Retail Security Tags Market Forecast to 2030 - Regional Analysis - by Technology (RF and RFID), Material (Paper and Plastic), Print Type (Printable and Non-Printable), and Application (Apparel & Fashion Accessories, Cosmetic & Pharmaceuticals and Others)

The North America retail security tags market was valued at US$ 212.46 million in 2022 and is expected to reach US$ 344.97 million by 2030; it is estimated to grow at a CAGR of 6.2% from 2022 to 2030.

Increasing Retail Outlets by Global Brands Fuels the North America Retail Security Tags Market

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. A few of the major retail brands focused on increasing their retail footprint are mentioned below:

In November 2022, JD Sports announced its plan to open 15 retail stores in Canada by 2023 to expand the company's retail footprint in the country. In October 2022, Miniso announced the launch of a store in Canada with a $2 Plus concept. The store was established to provide low-cost, high-quality products for the growing customer base in the country. 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 North America retail security tags market growth.

North America Retail Security Tags Market Overview

The North America retail security tags market is segmented into the US, Canada, and Mexico. The significant presence of the retail industry in North America is one of the major factors driving the retail security tags market in the region. Major retail brands, including The Kroger Co., Costco, Best Buy, Carvana, The Home Depot, Target, eBay, and Walmart, are present across the region. The abovementioned brands have adopted many expansion strategies, including opening several new retail stores across the region. For example, in 2022, Target opened 23 new stores across different locations, such as New York, Texas, Pittsburgh, and South Carolina. Thus, the increase in the number of retail stores is further boosting the demand for retail security tags across the region.

North America has a significant presence of several retail security tags market players, including Johnson Controls; Checkpoint Systems, Inc.; and SECURITY TAGS. The growing adoption of organic and inorganic growth strategies by the players is propelling the market's growth. For instance, in March 2021, Johnson Controls announced its partnership with Intel Corporation to develop new and advanced solutions for improving the overall shopping experience for customers. Sensormatic Solutions by Johnson Controls is a prominent retail security tags solution provider across the region integrates advanced technologies in collaboration with Intel Corporation.

In addition, the increasing number of shoplifting cases across North America is driving the demand for retail security tags. According to the Retail Council of Canada, the retail sector in the country experienced theft of ~US$ 200 million a year before the onset of the COVID-19 pandemic. Furthermore, the rising cost of living is one of the factors catalyzing the number of shoplifting cases across the country. These factors are propelling the demand for advanced security solutions across retail stores, thereby contributing to the growth of the retail security tags market. In addition, stringent government regulations and certifications, such as UCODE 9 IC, are being implemented to standardize security products across retail checkpoints and exit points, which is further influencing the market players in the region to develop enhanced products, contributing to the growth of the market.

North America Retail Security Tags Market Revenue and Forecast to 2030 (US$ Million)

North America Retail Security Tags Market Segmentation

The North America retail security tags market is segmented based on technology, material, print type, application, and country.

Based on technology, the North America retail security tags market is categorized into RF & RFID, AM, and others. The RF & RFID segment held the largest share in 2022.

Based on material, the North America retail security tags market is bifurcated into paper and plastic. The plastic segment held the larger share in 2022.

By print type, the North America retail security tags market is categorized into printable and non-printable. The non-printable segment held the larger share in 2022.

By application, the North America retail security tags market is categorized into apparel & fashion accessories, cosmetics & pharmaceuticals, and others. The apparel & fashion accessories segment held the largest share in 2022.

Based on country, the North America retail security tags market is segmented into the US, Canada, and Mexico. US dominated the North America Retail Security Tags market in 2022.

Avery Dennison Corp, 3M Co, Alien Technology LLC, Brady Corp, Sensormatic Electronics Corp, Check Point Systems Inc, HP Inc, and MaverickLabel.Com Inc are some of the leading companies operating in the North America retail security tags market.

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