Anti-Counterfeit Packaging Market to Reduce Trading of Fraud Products
Posted by Lohitha on July 11th, 2019
Global Anti-Counterfeit Packaging Market: Growth Forecast
Instances of first copy products have increased in recent years due to their hiked demands in both the developed and developing economies. This sabotages the credibility of the product and reduces the credits of the original producer. The practices involving counterfeit packaging is increasing due to the prevailing fraudulent companies which are causing disruptions in the original branded products. The need to prevent the circulation of such unauthorized products is driving profits in the anti-counterfeit packaging market. A research report presented by the IndustryARC resonates with the above facts and determines that the global anti-counterfeit market size was at ,400 million as of 2018. Moreover, with multiple brands leveraging the technology, the global anti-counterfeit market is expected to grow at a compound annual growth (CAGR) of 13.4% through the forecast period of 2019 to 2025.
Global Anti-Counterfeit Packaging Market: Leading Segments
By region, the Americas dominate the global anti-counterfeit market. The region grabbed 39% of the total market share in the year 2018. The growing healthcare and pharmaceutical, clothing, and food and beverage industry are projected to drive the market in the region. Additionally, the region's high potential capabilities and overall growing economic growth are considered as the driving factors in the industry.
After a thorough analysis of the application segment, the track and trace are considered as the key application segment of the anti-counterfeit packaging market. Track and trace system is gaining popularity as it tracks the product from production through the supply chain and till the consumer. It involves the unique identification number printed on the product by the company. This helps the manufacturers considerably reduce counterfeiting by ensuring the unique identity of the product.
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Global Anti-Counterfeit Packaging Market Demand Analysis
Anti-counterfeit technology is a secure packaging technology that is employed for brand protection with the help of security printing of digital watermark, barcode technology, RFID technology, and other anti-counterfeit labels. According to the Organization for Economic Co-operation and Development (OECD), the exchange of pirated products is worth nearly half a trillion dollars a year. And as per the counterfeit product report released by the United Nations Office on Drugs and Crime (UNODC), most of the counterfeit products are exported from China and the occurrences are increasing annually. Considering such situations, the anti-counterfeit market is projected to increase at a tremendous rate. Brands all over the world are working to improve the efficiency and credibility of the product. The e-commerce giant announced a new project entitled “Amazon product zero”, the program aims to reduce the counterfeit rated to zero. It will imply Amazon’s intellect properties including machine learning techniques that the company owns. It will proactively scan the Amazon store to detect a forgery in the product fleet.
Global Anti-Counterfeit Packaging Market Trends
· QR Code: The emerging display artwork to detect product authorization is one of the latest technologies that are being used in the anti-counterfeit industry. These QR codes are featured on the packaging labels of the products which can be scanned to prove the credibility of the products.
· Automated Protection: With the emerging machine learning technologies various companies are relying on the algorithms to serialize the products and differentiate between the fake and the original products. This technique is proactively monitoring and reducing the circulation of fake products from the supply chain through to the end customers.
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Global Anti-Counterfeit Packaging Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the global anti-counterfeit market are TruTag Technologies, Inc., U-NICA Group, Securikett Ulrich & Horn GmbH, SICPA Holding SA, 3M Company, ACG PHARMAPACK PRIVATE LIMITED, E.I. Du Pont De Nemours and Co., AlpVision S.A., Authentix Inc., Avery Dennison Corporation, and Zebra Technologies Corporation.
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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.
