CHICAGO, Nov. 06, 2019 (GLOBE NEWSWIRE) — The global size is expected to reach USD 182.2 billion by 2023 from an estimated value of USD 105.9 billion in 2018, according to the findings in MarketsandMarkets’s study, “Anti-Counterfeit Packaging Market by Technology (RFID, Barcode, Hologram, Taggants), Usage Feature (Overt & Covert), End-Use Industry (Food & Beverage, Healthcare, Electronics & automotive, Consumer durables), and Region – Global Forecast to 2023”. An increase in awareness toward anti-counterfeit packaging and human health & safety are the factors contributing to the growth in demand for anti-counterfeiting technologies in packaging.
Browse 186 market data Tables and 34 Figures spread through 183 Pages and in-depth TOC on “Anti-Counterfeit Packaging Market”
The global anti-counterfeit packaging market has witnessed an upward surge since 2010. The liberalization of economies after the economic slowdown in 2008 has brought packaging technologies to the forefront. The implementation of anti-counterfeiting technologies is an essential strategy taken up by many manufacturing companies and regulatory bodies in recent years.
Companies dealing in anti-counterfeit packaging have grown tremendously since 2016; however, consolidations in this industry have slowed down as companies are not willing to take on significant debt to acquire additional facilities. Instead, companies involved in anti-counterfeiting solutions & technologies used for brand protection have grown in terms of the number of operations they manage. The cost of operations varies for each company based in the area it operates in, the type of solution, and the packaging level of the product on which the anti-counterfeiting technologies are being deployed. The regulations imposed in different countries also affect the margins of the company.
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The global anti-counterfeit packaging market is dominated by key players of the packaging industry that are mainly dealing with anti-counterfeiting, such as CCL Industries Inc. (Canada), Zebra Technologies Corporation (US), Applied DNA Sciences, Inc. (US), Avery Dennison Corporation (US), SICPA Holding SA (Switzerland), Avery Dennison Corporation (US), CCL Industries Inc. (Canada), 3M Company (US), DuPont (US), and Zebra Technologies Corporation (US). These companies use various strategies such as agreements, contracts, joint ventures, partnerships, new product launches, expansions & investments, and acquisitions to strengthen their position in the market.
Barcodes, RFID, holograms, taggants, and packaging designs are some of the most widely used anti-counterfeit packaging technologies. Barcodes were the most commonly used technology in 2017 within the global anti-counterfeit packaging market as it’s average price is relatively cheaper as compared to other technologies. However, RFID is projected to grow at the highest CAGR from 2018 to 2023 as the demand for security features, including overt and covert, is gaining huge interest among enterprises. Also, the need for technologies that are deterrent to counterfeiters, and can be deployed easily is increasing as conventional technologies such as holograms and barcodes have their limitations and may be duplicated.
Overt features led the global anti-counterfeit packaging market in 2017, and the segment is expected to witness a higher CAGR as compared to covert features through 2023. A more extensive range of applications, due to robust track and trace technology, contributing to the widespread use of the feature, is driving the growth of the overt technology segment. A combination of the overt and covert features are often used by manufacturers to offer enhanced product packaging and prevent the production of its counterfeit products.
Food & beverage and healthcare & pharmaceutical together dominated the global anti-counterfeit packaging market in 2017. The food & beverage industry witnessed significant demand for anti-counterfeit packaging solutions in products such as chips, cookies, baked products, ready-to-eat, ready-to-serve products, dairy products, aerated drinks, juices, and alcoholic beverages. An increasing trend of using anti-counterfeit technologies such as barcodes, taggants, holograms, and RFIDs in the healthcare & pharmaceuticals will drive the growth of the global anti-counterfeit packaging market.
North America was the largest market for anti-counterfeit packaging in 2017. North America is a developed market for anti-counterfeit packaging and is projected to witness a moderate growth rate as compared to Asia Pacific. The US was the leading market for anti-counterfeit packaging in the North American region. Asia Pacific is projected to register the highest CAGR between 2018 and 2023. China was the largest market for anti-counterfeit packaging in the Asia Pacific in 2017. The Chinese market is projected to grow at the highest CAGR from 2018 to 2023, globally. The growth of packaging activities in the region as well as emerging advanced anti-counterfeit technologies in China, Indonesia, and India are driving the growth of the Asia Pacific anti-counterfeit packaging market.
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