In the cash management supplies process, packaging plays a vital role in providing the security during the delivery of cash. Various packaging solutions available in the market which helps in cash management during supply such as deposit tickets, endorsement stamps, vault bundle bags, cash and deposit bags, internal cash control bags, coin bags, strap bags etc. Above discuses all the products provide good security but keep in mind growing theft and fraud innovation is needed. Tamper evidence security bags is one of the technical innovation in the packaging industry. These bags provide security solution for the high-value chain of custody and proof of authenticity application. Tamper evidence security bags works on near-field communication technology. This technology is similar to the technology used in credit cards and therefore it is more secure than traditional barcode scanner locks and it operates through smartphones. Due to technological advancement in the bags industry and increasing concern among consumer regarding security, such kind of bags market is expected to grow during the forecast period.
Cash management supplies packaging market is expected to grow for several reasons. One of the significant factors contributing towards the growth of the cash management supplies packaging is the growing preference towards the security. Robust growth of casinos and gambling creates demand for cash/coin deposit and card/dice bags. Growth in banking sector is creating demand for security products. Growing small, mid-scale as well as the large business needs the secure transfer of cash, gold, bank check or any other valuable things from one place to another place. These are also considerable factors for growth of the cash management supplies packaging market. Ongoing trends towards digital payments and increasing penetration of mobile banking hampers the growth of the cash management supplies packaging market. Ban on casinos also affects the tremendous growth of the cash management supplies packaging market. Nowadays, technical innovation for making the cash management supplies more secure is the key trend.
On the basis of material type, cash management supplies packaging market is segmented into –, Plastic, HDPE, LDPE, PVC, Others, Paper, On the basis of application, cash management supplies packaging market is segmented into –, Cash/Coin Deposit Bags, Card & Dice Bags, Evidence Bags, Strap Bags, On the basis of end user, cash management supplies packaging market is segmented into –,m Financial Institutions, Casinos, Hotels, Government Organization, Others (National retail companies & Academic institutes etc.)
The cash management supplies packaging market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Several packaging companies are focusing on developing cash management supplies packaging with efficiency, high precision, and process control to serve the growing demand. In Latin America, Brazil has been witnessing an increased demand for card and dice bags, owing to steady growth in the casino and gambling sector. North America expects significant growth in the future due to the rise in the gaming sector. In the Asia Pacific, China and India like emerging country create the great opportunity for the cash management supplies packaging market. In Japan, the government has recently indicated support for casino legalization. It creates an opportunity for cash management supplies packaging market in the country.
Few of the major players identified across the globe in the cash management supplies packaging market are ProAmpac LLC, A. Rifkin Co, Business Deposits Plus, Inc., SECUTAC, Securepac Industries Sdn Bhd, Versapak International Ltd, Adsure Packaging Limited, Ampac Holdings LLC, Coveris Holdings S.A., Mega Fortris (Malaysia) Sdn. Bhd., Packaging Horizons Corporation, KENT PLASTIK LTD. STI., HSA International Group, etc.
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