Holographic Tear Tapes Market: Highlights
- Hologram tapes/holographic tapes provide a high degree of protection to products such as boxes, envelopes etc. These have tamper-proof patterns and are available as both shrinkage tear tapes and laser tear tapes. The available range of tapes provide an effective blend of attractive appearance and security.
- Holographic tear tapes are majorly used in the food and beverage industry, tobacco industry, pharmaceutical industry, personal care and cosmetics industry, and electrical and electronics industry, among others.
Key Drivers of Holographic Tear Tapes Market
- Growth in the electrical & electronic industry across the world is likely to drive the market during the forecast period. In India, the electronics industry is considered the fastest-growing industry both in terms of production and exports. Hence, extensive growth in the electronics industry, particularly in India and China, is also expected to propel the holographic tear tapes market in the near future.
- Growth in the food and beverage industry, particularly in the Asia Pacific region is expected to drive the market during the forecast period.
- Increased usage of holographic tear tapes by end-use industries is also projected to propel the market in the near future.
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Holographic Tear Tapes Market: Application Segment
- On the basis of application, the global holographic tear tapes market is segmented into food and beverage industry, tobacco industry, pharmaceutical industry, personal care and cosmetics industry, electrical and electronics industry, and others.
- The food and beverage industry segment is projected to account for a major share of the global holographic tear tapes market by 2027. Asia Pacific is the fastest growing region in terms of consumer spending on food and beverages, with average annual growth of 7.5% expected during the forecast period 2019-2027. Middle East & Africa was the second fastest growing region in terms of food and beverage applications.
- Growth in the pharmaceutical industry is estimated to remain healthy over the forecast period. Moreover, it is expected to account for a significant market share by 2027.
- Expanding at a healthy growth rate, the electrical and electronics industry segment is expected to create significant incremental opportunity during the forecast period. Demand for other applications is expected to remain moderate to high across different regions.
North America to be a Key Market for Holographic Tear Tapes
- In terms of region, the global holographic tear tapes market can be divided into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- The North America regional market is expected to witness continuous growth in the global holographic tear tapes market, followed by Asia Pacific. The growing electrical and electronics sectors in countries such as the U.S. and Canada with the adoption of rapid technological advancement has significantly boosted the regional market.
- Latin America and Middle East & Africa is expected to show a stagnant growth rate in the global holographic tear tapes market during the forecast period.
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Key Manufacturers Operating in the Market
The global holographic tear tapes market was highly fragmented in 2018. Key manufacturers operating in the global market include:
- Bajaj Holographics (I) Pvt. Ltd.
- Matrix Technologies
- Hira Holovision
- Bagla Group
- White Clouds Packing Materials Co., Ltd.
- Suzhou Image Laser Technology Co., Ltd
- Essentra plc
Global Holographic Tear Tapes Market: Research Scope
Global Holographic Tear Tapes Market, by Type
- Polypropylene (PP) Holographic Tear Tape
- Polyvinyl Chloride (PVC) Holographic Tear Tape
- Polyethylene (PE) Holographic Tear Tape
- Polyethylene Terephthalate (PET) Holographic Tear Tape
Global Holographic Tear Tapes Market, by Application
- Food and Beverage Industry
- Tobacco Industry
- Pharmaceutical Industry
- Personal Care and Cosmetics Industry
- Electrical and Electronics Industry
Global Holographic Tear Tapes Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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