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.
Market Insights
The overall anti-counterfeit packaging technologies market is set to exhibit double digit growth over the forecast period owing to the growing focus of key manufacturers on brand protection at a global scale. Counterfeit packaging of commercial products, commodity amongst others can potentially cause economic damages to the manufacturers. There is a growing health risk related to substandard products. These are the key factors that have led to adoption of technologies in the anti-counterfeit packaging technologies market. This is estimated to propel the demand for anti-counterfeit packaging technologies market growth across the worldwide.
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The overall anti-counterfeit packaging technologies market is segmented on the basis of type and end-user industry. On the basis of end-user industry, the food and beverages industry led the market accounting for around 36% in terms of value. This is primarily due to the growing awareness towards tracing technologies followed by increasing focus by key players towards food safety concerns. In addition, multipurpose applications such as authentication of advanced tracking technologies and product tracking have led to increase in demand for the RFID technologies. Based on geography, in 2017, North America leads the global anti-counterfeit packaging technologies market accounting for more than 45% of the total market value generated worldwide. Asia Pacific is set to register the highest growth in the following years, primarily due to the rise in healthcare concerns, higher adoption rates of anti-counterfeit technologies and growing awareness about tracking and tracing technologies.
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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 which are leading specialty security printing business in the U.S. The acquisition will help the company to create and build opportunities for new platform in both international and domestic markets. In addition, pharmaceutical industry in Europe and Middle East and Africa is poised to grow at a significant rate owing to the growing collaborations between companies with an objective to focus on anti-counterfeit packaging technologies. For example, in March 2017, INVIXO, an international consulting group and Systech, a global technology leader collaborated to offer various track and trace solutions for the pharmaceutical industry in Europe.
The rising awareness for authenticated food products across middle income populations followed by increasing initiatives by government authorities towards food and healthcare management are other factors driving the global anti-counterfeit packaging technologies market growth in developing regions. For example, in May 2017, in UAE, the Ministry of Health and Prevention (MOHAP) organized an international conference on combating medicinal products counterfeiting. All these factors are fueling the demand of global anti-counterfeit packaging technologies market during the forecast period.
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