Furthermore, the market is observed to witness extensive growth due to increasing concerns among consumers for dangerous effects regarding the utilization of counterfeit products. Moreover, increasing momentum for counterfeit pharmaceutical products along with huge risk for health due to the adoption of unauthentic pharmaceutical products is expected to accentuate the growth of the anti-counterfeit packaging market across the globe.

Based on technology, the anti-counterfeit packaging market is divided into covert, overt, forensic, and track and trace. Of all, the track and trace category has been contributing the largest revenue throughout the forecast period. This technology is used for locating the package at any point of time at the time of the delivery process of a product and further adds significant value to that product.

Increasing economic damage caused to the organization along with consumer health risks is the major factors that are driving the growth of the global anti-counterfeit packaging market. According to a recent study it has been observed, that in 2012 pharmaceutical companies had witnessed a loss of approximately $600 billion. The loss of this revenue is attributed to counterfeiting activities pertaining to non-prescribed drugs.

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The implementation of these technologies involves high cost and increasing concerns of the manufacturers pertaining to security structures of these packaging technology is expected to hamper the growth of the global anti-counterfeit packaging market.

Globally industry players are leveraging market growth through research and development for technological up-gradation in products, mergers, and acquisitions in order to improve the revenue of the company. Additionally, key players in this market undertake collaborations and joint ventures to develop effective business strategies.

North American anti-counterfeit packaging market holds the largest share in the global anti-counterfeit packaging market, contributing more than 40.0% share by 2024, and is expected to witness a CAGR of 11.1% during the forecast period 2019–2024. The largest share of this market in the region is attributed to the existence of large market players.

Atlantic Zeiser GmbH, Amcor Limited, Authentix Inc., Applied DNA Sciences Inc., CCL Industries Inc., Avery Dennison Corporation, SICPA Holding SA, Zebra Technologies Corporation, Inksure Technologies Inc., Flint Group, TraceLink Inc., and AlpVision SA.

Source: VynZ Research