Status : Published | Published On : Feb, 2023 | Report Code : VRCH2068 | Industry : Chemicals & Materials | Available Format :
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Page : 106 |
Industry Overview
The global anti-counterfeit packaging market is projected to become $312.2 billion by 2030, owing to extensive concerns regarding the losses incurred by the manufacturers for the sale of counterfeit product that is driving the growth of this market. This market is further expected to witness a CAGR of 10.5% during the forecast period 2023–2030.
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 to health due to the adoption of unauthentic pharmaceutical products is expected to accentuate the growth of the anti-counterfeit packaging market across the globe.
Market Segmentation
Insight by Application
On the basis of application, the anti-counterfeit packaging market is segmented into pharmaceutical & healthcare, food & beverages, clothing & apparel, and others. Among all these segments, the pharmaceutical & healthcare category is expected to hold the largest share in the global anti-counterfeit packaging market during the forecast period 2021–2027, owing to the extensive demand from the pharmaceutical & healthcare industry for these packaging products, as the increasing health concerns among the people globally and growing pharmaceutical production. Pharmaceutical manufacturers prefer these packaging to provide medicines in a safe condition to their consumers, which also leads in protecting the brand image of the company by adopting these packaging.
Moreover, the food & beverages category is also growing at a significant pace, owing to the huge demand from the food & beverage industry for anti-counterfeit packaging products such as branded and packaged products. Accelerating demand for labeling and product differentiation is further driving the growth of the food & beverage packaging segment.
Insight by Technology
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.
Covert technology is further segmented into security labels, invisible printing, and others. Invisible printing technology holds the largest share among all covert technology due to its increasing demand from security and pharmaceutical applications.
Overt technology is further categorized into holograms, color-shifting inks, and others. Among all these, hologram technology holds the largest share in the market.
Track and trace technology is further divided into machine-readable data, radio-frequency identification (RFID), and others. The demand for RFID technology is expected to witness a CAGR of 11.4% during 2023–2030. The growth of this technology is attributed to tracking features and extensive product security. Furthermore, the increasing preference of the manufacturers towards the utilization of RFID is further expected to drive the growth of this market in the near future.
Industry Dynamics
Growth Drivers
Increasing economic damage caused to the organization along with consumer health risks are 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. Furthermore, the implementation of innovative technologies for the tracking of products would help in diminishing the economic damage of the companies and will help in bolstering the growth of the global anti-counterfeit packaging market.
Moreover, anti-counterfeit technologies are sustained by supporting government reforms towards the packaging of food and pharmaceutical products which is majorly driving the growth of the anti-counterfeit packaging market.
Challenges
The implementation of these technologies involves high cost and increasing concerns of the manufacturers pertaining to the security structures of these packaging technology is expected to hamper the growth of the global anti-counterfeit packaging market.
Industry Ecosystem
Globally industry players are leveraging market growth through research and development for technological upgradation 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.
Geographic Overview
North American anti-counterfeit packaging market holds the largest share in the global anti-counterfeit packaging market, contributing more than 40.0% share by 2030, and is expected to witness a CAGR of 11.1% during the forecast period 2023–2030. The largest share of this market in the region is attributed to the existence of large market players.
Moreover, Asia-Pacific is expected to witness the fastest growth, registering a CAGR of 11.47% during the forecast period owing to flourishing healthcare, pharmaceutical, and food & beverage industries which are expected to bolster the growth of the Asia-Pacific anti-counterfeit packaging market.
Competitive Insight
The key players operating in the global anti-counterfeit packaging industry include E.I. du Pont de Nemours and Company, 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.
PRIMARY RESEARCH INTERVIEWS - BREAKDOWN
Anti-Counterfeit Packaging Market