Anti-counterfeit Packaging Market Is Anticipated To Witness Significant Growth Prospects With Rising CAGR By 2030Posted by Mrudula Anil Karmarkar on December 13th, 2023 San Francisco, 13 December 2023: The ReportAnti-counterfeit Packaging Market Size, Share & Trends Analysis Report By Technology (Overt, Covert, Forensic, Track & Trace), By Application (Automotive, Luxury Goods), By Region, And Segment Forecasts, 2023 - 2030 The global anti-counterfeit packaging market size is expected to reach USD 345.93 billion by 2030, expanding at 12.1% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. This is attributed to the growing demand for anti-counterfeit solutions used to prevent negative impacts caused by product piracy and counterfeiting in the global economy. Counterfeit products result in loss of sales, becoming a major concern for product manufacturers. Furthermore, the poor quality of replicates damages the brand image. This has driven product manufacturers to use anti-counterfeit technology packaging solutions. For instance, footwear brand Nike faces the threat of counterfeit goods and to safeguard the integrity and authenticity of its footwear the company integrates RFID technology’s anti-theft function into its products. Covert technologies are considered to be beneficial for brand owners and manufacturers, to maintain product authentication. The technology offers various benefits including ease in end-use verification, and helps to build appealing designs for the products. As a result, the technology is expected to grow at a significant rate over the forecast period. The industry players are adopting several strategies including mergers & acquisitions, partnership agreements, joint ventures, and collaborations to increase their market share. For instance, in January 2022, AWT Labels & Packaging Inc acquired MacArthur Corporation which provides RFID, serialized barcoding, and other anti-counterfeit packaging technologies. This acquisition will help AWT Labels & Packaging Inc to enhance the products used in packaging with these technologies. The market is expected to register significant growth on account of the rise in the demand for brand protection solutions for the protection of pharmaceutical products. In addition, ease in product monitoring through the supply chain is expected to drive market growth over the next seven years. In addition, the market is expected to be driven by rising technological development enabling increased functioning of the technology. Request sample report of Anti-counterfeit Packaging Market@https://www.grandviewresearch.com/industry-analysis/anti-counterfeiting-packaging-market/request/rs1 The U.S. is one of the major producers and consumers of processed food products in the world. The food manufacturing industries in the country are dominated by capital-intensive, highly diversified corporations, and large-scale industries. The country has over 17,000 manufacturing locations and manufacturers are expected to adopt anti-counterfeit technologies to edge the growth of counterfeit products. As a result, the demand for covert, overt, and track & trace technologies is expected to witness significant growth in the region. Anti-counterfeit Packaging Market Report Highlights
According to the data provided by the US Customs and Border Protection, over USD 2.0 billion worth of goods and USD 20 million worth of counterfeit drugs were seized on the country’s border in 2022. Increasing spending by drug manufacturing companies and the U.S. government to resolve issues related to goods counterfeiting is expected to drive industry growth over the forecast period. The U.S.-based pharmaceutical company, Pfizer, has taken the initiative to protect its brand and consumers against counterfeit products. The company uses RFID tags on certain highly counterfeit products to further ensure patient safety in the United States. This enables consumers, wholesalers, medical stores, and distributors to track drugs from producer to pharmacy by verifying the EPC, a unique electronic product code placed over the product packaging. Anti-counterfeit Packaging Market Report Scope
DuPont offers an anti-counterfeit hologram technology under the brand name, Izon, which is used in various applications including electronics, food & beverage, and electronics products. These 3D holograms enable faster overt product authentication in the aforementioned application industries. Pharmaceutical counterfeiting is on the rise in the U.S. and around the globe, potentially putting at risk the health of millions of patients who take for granted that the prescription medicines they buy are safe and effective. Though the U.S. pharmaceutical product distribution is one of the safest across the globe, increasing incidences of counterfeiting in the region are expected to drive the industry growth over the forecast period. Companies are investing huge amounts in mergers & acquisitions and R&D activities and innovation to gain competitive advantage. For example, In December 2022, Rieke Corp launched a next-generation IMF-5 FLEXSPOUT for plastic pails, which is molded directly into the pail lid during the injection molding process. This permanent bond between the closure and lid makes it impossible to manipulate or break without detection, ensuring maximum product and brand protection for manufacturers. Additionally, the IMF-5 excels with its premium leak-resistant design and integrated tamper-evident pull ring, ensuring secure product delivery every time. List of Key Players in the Anti-counterfeit Packaging Market
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