Anti-counterfeit packaging Industry to boost technology to achieve CAGR of 12% by 2023

Posted November 1, 2018 by suraj28426713

Global Anti-Counterfeit Packaging Market by Technology (Barcode, Labels, RFID, Holograms), Usage Feature (Track & Trace, Tamper Evidence, Overt, Covert, Forensic Markers), End-Users and Region

Global Anti-Counterfeit Packaging Market

The global anti-counterfeit packaging market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Among these, Asia Pacific region dominated the anti-counterfeit market with the largest market share in 2016 is due to increasing counterfeit practices in all major end-user sectors. The market in the Asia Pacific region is primarily increased due to the growing awareness among the consumers regarding fake products, which has led to more consciousness about product-related information before actual consumption by the consumer. Thus, increasing demand for anti-counterfeit packaging in the region. North America and Europe held almost an equal share in 2016 due to the growing manufacturers focus on developing sustainable anti-counterfeit packaging options to avoid encounter with a loss in the business and maintain genuineness of the product in the market.

Key Players

Some of the key players in the global Anti-Counterfeit Packaging Market are Avery Dennison Corporation (U.S.), CCL Industries Inc. (Canada), 3M Company (U.S.), E.I. Du Pont De Nemours and Company (U.S.), Zebra Technologies Corporation (U.S.), Sicpa Holding SA (Switzerland), Alpvision SA (Switzerland), Applied Dna Sciences Inc. (U.S.), Savi Technology, Inc. (U.S.), Authentix, Inc. (U.K.), Ampacet Corporation (U.S.), Tracelink Inc. (U.S.), Advanced Track & Trace S.A. (France), Atlantic Zeiser GmbH (Germany), and Impinj, Inc. (U.S.),

Market Scenario

Secure packaging is one of the vital techniques used to evade counterfeiting. Anti-counterfeit packaging provide secure packaging to the product in order to eradicate infringement and counterfeiting. Anti-counterfeit packaging process helps in preventing imitation and approves authenticity & safety of the goods. Anti-counterfeit measures are majorly undertaken by the companies in order to help them in diminishing the losses due to counterfeit in relevance to revenue and trustworthiness.

Anti-counterfeit packaging is majorly adopted by the manufacturers to avoid economic damage to the product as well as the company and consumer health risks. Counterfeit pharmaceutical is worth USD 200 billion annual business, making it one of the largest segments of the USD 1.7 trillion fraudulent goods sold worldwide each year. This revenue loss is mainly due to counterfeiting deeds for non-prescribed drugs. Thus, implementation of innovative technologies for product tracking would diminish the economic damage and further propel the utilization of anti-counterfeit packaging. Additionally, anti-counterfeit technologies are majorly supported by the favorable government policies in the food & beverages and pharmaceutical packaging sector, which further boosts the anti-counterfeit market.

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Counterfeiting practices are more common in the underdeveloped and developing nations as compared to developed nations. Though, lack of awareness about validating food products and pharmaceutical goods among the customers is highly disturbing the market expansion in many underdeveloped regions across the globe. Anti-counterfeit packaging market is currently facing a humongous challenge due to the globalization of the retail sectors, which indirectly gives a vital advantage to the counterfeiters to disrupt the genuine goods market. The global food & beverages market along with pharmaceutical and retail products market are suffering loss due to counterfeiting in terms of revenue and intangible assets. Any primary or vital change in the brand recall packaging process can generate a barrier to recognize the genuine product, and it can certainly help the forgers to manufacture fake products in the name of original one.

Global anti-counterfeit packaging market has been segmented based on technology, usage feature, end-users, and region. Based on the technology, the market is segmented into barcode, labels, RFID, holograms, and others. Among these, the RFID is projected to dominate the anti-counterfeit packaging market through 2023. The dominant position of this segment can be attributed to its ability to capture and read information stored on the tag attached to the product. Based on the usage feature, the market is segmented into track & trace, tamper evidence, overt, covert, and forensic markers. Track & trace dominated the market in 2016 and is projected to be the fastest-growing usage feature over the forecast period. The growth is due to its application in almost all types of packaging variables. Track & trace technology is also a widely used feature as they display product statistics, brand documentation symbols, and transportation information during the transport. Based on the end-users, the market is segmented into healthcare, food & beverages, consumer goods, apparel, automotive, and others. Healthcare dominated the market in 2016 and is projected to be the fastest-growing end-user over the next five years owing to prevention of counterfeiting medicines and healthcare products.

Anti-counterfeit packaging is a dynamic market with huge competition among the major competitors. The current market situation of the global anti-counterfeit packaging market is firm with the presence of price conflicts among the local and international players. Since the local players find it problematic to contest with universal vendors in terms of features, quality, and range of offerings, they have raised the bar of rivalry by offering ground-breaking solutions at a price lesser than international players.

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Global Anti-Counterfeit packaging market is expected to grow at a CAGR of about 12% during the forecast period.

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Categories Advertising , Business , Technology
Tags market research , country market , Food Marketing , Food Packaging Industry , market trends
Last Updated November 1, 2018