|Status : Published||Published On : Mar, 2019||Report Code : VRCH2069||Industry : Chemicals & Materials||Available Format :||Page : 101|
The U.S. anti-counterfeit packaging market is predicted to grow at 9.9% CAGR during the forecast period with the market size reaching USD 12.7 billion by 2024. Different technologies such as covert, forensic, overt, and track & trace are majorly contributing to the anti-counterfeit packaging market size. The market has witnessed significant demand for track & trace over the last few years as to decrease technological complications.
Insight by Technology
Based on the technology, the U.S. anti-counterfeit packaging market is categorized into covert, forensic, overt, and track & trace of which track & trace hold the largest share in the U.S. anti-counterfeit packaging market. In addition, of all, the track & trace category is predicted to witness the highest CAGR of 11.9% during the forecast period, which is also predicted to continue during the forecast period owing to decrease technological complications.
The covert segment is further subdivided into security labels, invisible printing, and others. Among all these, invisible printing segment accounted for the largest share and is expected to grow at the fastest rate in the market, due to a mounting requirement from the security and pharmaceutical applications. Moreover, the overt segment is further subdivided into holograms, color shifting inks and others. Among all the overt, the holograms segment accounted for the largest share in the market.
In addition, the track & trace segment is further subdivided into radio-frequency identification (RFID), machine-readable data, and others. Among these, the radio-frequency identification (RFID) segment accounted for the largest share in the U.S. anti-counterfeit packaging market, due to tracking features and widespread product security.
Insight by Application
On the basis of application, the U.S. anti-counterfeit packaging market is segmented into pharmaceutical & healthcare, food & beverage, clothing & apparel, and others. Of all application, pharmaceutical & healthcare category accounted the largest share in the anti-counterfeit packaging market due to widespread demand from the pharmaceutical & healthcare industry for these packaging products, as the escalating health concerns among the people, the mounting requirement for product differentiation and labeling for their authentication, and mounting pharmaceutical production.
The rule and guidelines compulsory by the government, mounting economic damage caused to the organization along with consumer health risks, escalating manufacturing activity, technological advancement, and need to maintain an efficient supply chain are the key factors leading to the growth in the U.S. anti-counterfeit packaging market.
Owing to the mounting alertness about the importance of brand protection among companies has resulted, in escalating concern regarding counterfeit products which further increases the demand for anti-counterfeit packaging in U.S. Some of the other key factors driving the growth of the industry are remote authentication of products, robust development in the demand from the food & beverage and pharmaceutical & healthcare sectors, and surge in the emphasis of manufacturers on brand protection.
Key factors hindering the growth of the U.S. anti-counterfeit packaging market are the enormous setup price and presence of technologies that are restrictive to counterfeiters.
Market players in the anti-counterfeit packaging industry are investing capital to develop technologically advanced systems. In July 2018, CCL Industries completed the acquisition of Treofan America Inc. and Trespaphan Mexico Holdings GmbH, to provide biaxially oriented polypropylene films in North America and Europe with extremely complementary technologies and products.
E.I. du Pont de Nemours and Company, Avery Dennison Corporation, Flint Group, CCL Industries Inc., Inksure Technologies Inc., Amcor Limited, AlpVision SA, TraceLink Inc., Zebra Technologies Corporation, Authentix Inc., Applied DNA Sciences Inc., and Sicpa Holding SA are some of the key players offering solutions for anti-counterfeit packaging in U.S.
Primary Research Interviews - Breakdown