|Status : Published||Published On : Feb, 2019||Report Code : VRCH2068||Industry : Chemicals & Materials||Available Format :||Page : 106|
The global anti-counterfeit packaging market is projected to become $212.2 billion by 2024, 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 2019–2024.
Furthermore, the market is observed to witness extensive growth due to increasing concerns among the consumers for dangerous effects regarding the utilization of counterfeit products. Moreover, increasing momentum for the counterfeit pharmaceutical products along with huge risk for health due to the adoption of unauthentic pharmaceutical products is expected to accentuate the growth of anti-counterfeit packaging market across the globe.
Insight by Application
On the basis of application, the anti-counterfeit packaging market is segmented into pharmaceutical & healthcare, food & beverages, clothing & apparel, others. Among all these segments, pharmaceutical & healthcare category is expected to hold the largest share in the global anti-counterfeit packaging market during the forecast period 2019–2024, 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 protection brand image of the company by adopting these packaging.
Moreover, 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 labelling and product differentiation is further driving the growth of 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 have been contributing largest revenue throughout the forecast period. This technology is used for locating the package at any point of time at the time of 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 hold the largest share among all the covert technology due to its increasing demand from the security and pharmaceutical applications.
Overt technology is further categorized into holograms, color shifting inks, and others. Among all these, holograms 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 2019–2024. The growth of this technology is attributed towards tracking features and extensive product security. Furthermore, increasing preference of the manufacturers towards the utilization of RFID is further expected to drive the growth of this market in the near future.
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 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 towards counterfeiting activities pertaining to non-prescribed drug. 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 that is majorly driving the growth of the anti-counterfeit packaging market.
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 upgradation in products, mergers and acquisitions in order to improve revenue of company. Additionally, key players in this market undertake collaborations and joint ventures to develop effective business strategies.
North American anti-counterfeit packaging market hold 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 towards 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.
The key players operating in the global anti-counterfeit packaging industry includes 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.
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