According to a new market research report published by Credence Research “Anti-Counterfeit Packaging Technologies Market (Type – Coding and Printing, RFID, Security Labels, Holograms, Packaging Design and Others[Digital Mass Sterilization, Surveillance Technologies and Digital Mass Encryption]; End-user Industry – Food & Beverages, Pharmaceuticals & Healthcare, Transportation & Industrial, Consumer Durables, Clothing & Apparel and Others[Handbags, Wallets, Jewelry, Toys, Optical media and books]) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global anti-counterfeit packaging technologies market is set to expand with a double digit CAGR throughout the forecast period to reach US$ 357.9 Bn by 2026.
[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]
The overall market for anti-counterfeit packaging technologies is set to show double-digit growth over the forecast period due to the growing focus of key manufacturers on global brand protection. Counterfeit packaging of commercial products, commodities, among others, can potentially cause economic damage to manufacturers. There is an increasing risk to the health of non-standard products. These are the key factors that led to the adoption of technologies in the market for anti-counterfeit packaging technologies. This is estimated to boost demand for anti-counterfeit packaging technologies worldwide.
The overall market for anti-counterfeit packaging technologies is segmented by type and end-user industries. On the basis of the end-user industry, the food and beverage industry has marketed around 36% in terms of value. This is mainly due to a growing awareness of tracing technologies, followed by an increasing focus on food safety concerns by key players. In addition, multipurpose applications such as the authentication of advanced tracking technologies and product tracking have led to increased demand for RFID technologies. Geographically, North America is leading the global market for anti-counterfeit packaging technologies in 2017, accounting for more than 45 per cent of the total market value generated worldwide. Asia Pacific is set to record the highest growth in the following years, mainly due to rising health concerns, higher rates of anti-counterfeit technology adoption and increased awareness of tracking and tracing technologies.
The key players operating in the anti-counterfeit packaging technologies market include 3M Company, Avery Dennison Corporation, CCL Industries Inc., Digimarc., Zebra Technologies Corp Inc., Sicpa Holding SA , Alpvision SA, Applied DNA Sciences Inc., Savi Technology, Inc., Authentix, Inc. and E. I. du Pont de Nemours and Company among others. Mergers and acquisitions, new product development and collaborations between companies are the major strategies implemented by key manufactures in the global anti-counterfeit packaging technologies market.
For example, in 2015, CCL Industries, based in Canada, acquired certain assets of Banknote Corporation of America Inc. and Sennett Security Products LLC, the leading specialty security printing business in the United States. The acquisition will help the company to create and build new platform opportunities in both international and domestic markets. In addition, the pharmaceutical industry in Europe, the Middle East and Africa is set to grow at a significant rate due to the increasing collaboration between companies with the aim of focusing on anti-counterfeit packaging technologies. In March 2017, for example, INVIXO, a multinational consulting group, and Systech, a global technology leader, partnered together to provide various solutions for the pharmaceutical industry in Europe.
Increasing awareness of authenticated food products across middle-income communities, accompanied by increasing government initiatives for food and healthcare management, are other factors driving global anti-counterfeit packaging innovations to market growth in developing regions. For example, in May 2017, the Ministry of Health and Prevention (MOHAP) organized an international conference on the fight against counterfeit medicinal products in the UAE. All of these factors fuel the demand for the global market for anti-counterfeit packaging technologies during the forecast period.