Anti-Counterfeit Packaging Market size was valued at $103.111 Billion in 2020 and is projected to reach $XX Billion in 2028, growing at a CAGR of XX% from 2021 to 2028.
The global Anti-Counterfeit Packaging Market is growing at a higher pace owing to the increasing adoption of such packaging primarily by pharmaceutical companies across the globe. Besides, rising consumer awareness pertaining to the harmful effects of spurious goods and increasing concerns regarding the dilution of brand identity is also expected to drive growth. The Global Anti-Counterfeit Packaging Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Anti-Counterfeit Packaging Market Definition
Packaging plays a vital part in different industries such as food and pharmaceuticals. Counterfeits refer to unapproved reproductions of a trademarked label that are the same as genuine products. Counterfeit products are frequently produced with the purpose to take benefit of the excellent value of the counterfeited product. Counterfeit goods include clothing, jewelry, medications, cigarettes, electronic equipment, and others. Secure packaging is highly important to avoid counterfeit products. Anti-counterfeiting packaging is a solution for assigning secure packaging to the product in order to decrease infringement and counterfeiting. Anti-counterfeit measures are taken by companies, which is supporting them in minimizing loss due to counterfeiting in-term of revenue and loyalty.
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Counterfeiting is a major problem in various business sectors, with the pharmaceutical industry most at risk due to illegal and dangerous substances used in counterfeit drugs. Moreover, counterfeiting leads to reduced profitability and loss in brand value for the affected company. Today food and pharmaceutical companies are adopting anti-counterfeiting packaging measures to prevent duplication and confirm the safety of the goods. Apart from food and pharmaceutical companies, other companies are also adopting anti-counterfeiting packaging to prevent imitation and confirm the security of the goods.
Increasing consumer awareness of unapproved reproductions of products of a trademarked label in numerous industries has led to an increase in the adoption of anti-counterfeiting packaging measures to prevent duplication and confirm the safety of the product. Rising government regulations and emphasis laid on exterminating counterfeit goods in developing and developed economies are estimated to drive the market. Additionally, the anti-counterfeit technologies are supported by favorable government policies in food and pharmaceutical packaging, which is also expected as a major driving factor for this market. Moreover, growing technological innovation for the production of extremely secure packaging for use in application industries is expected to drive the growth of this market over the forecast period.
Counterfeit pharmaceutical is one of the most profitable sectors of global trade in illegally copied goods. Fraudulent drugs harm and even kill millions of people across the globe. It causes serious damage to the brand names of big pharmaceutical manufacturers. In November 2017, the WHO determined that fake medicine estimates for 10% in total of USD 300 billion in the pharmaceuticals industry, particularly in low- and middle-income countries. The increasing public use of online pharmacies coupled with the new mass producer of counterfeit medicines has widened the market for falsified drugs.
With the rising concerns regarding brand dilution along with producers acquiring losses, several companies are making massive investments in anti-counterfeit packaging technologies, which, in turn, are expected to create tremendous opportunities in the market for industry players. Despite having numerous advantages of anti-counterfeiting packaging, there are some factors that restrain the growth of the global Anti-Counterfeit Packaging Market. The huge cost of track & trace infrastructure and lack of awareness for product authenticity is expected to create severe challenges to the growth of the Anti-Counterfeit Packaging Market over the forecast period.
Global Anti-Counterfeit Packaging Market: Segmentation Analysis
The Global Anti-Counterfeit Packaging Market is segmented based on Technology, Application, and Geography.
Anti-Counterfeit Packaging Market, By Technology
• Track & Trace Technologies
• Forensic Markers
Based on Technology, the market is bifurcated into Track & Trace Technologies, Overt, Covert, and Forensic Markers. Covert anti-counterfeiting packaging techniques are expected to highest growing segment owing to the high demand for low price-protected packaging for use in the clothing & apparel and food industry. Besides, the growing adoption of covert techniques by economies such as the Asia Pacific is further expected to drive market growth over the forecast period.
Anti-Counterfeit Packaging Market, By Application
• Food & Beverages
• Pharmaceutical & Healthcare
• Industrial & Automotive
• Consumer Electronics
• Cosmetics & Personal Care
Based on Application, the market is bifurcated into Food & Beverages, Pharmaceutical & Healthcare, Industrial & Automotive, Consumer Electronics, Cosmetics & Personal Care, Others. The pharmaceutical segment is projected to be the largest growing segment in the Anti-Counterfeit Packaging Market. The growth of this segment is attributed to an increase in awareness about anti-counterfeit packaging and human health & safety.
Anti-Counterfeit Packaging Market, By Geography
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• North America
• Asia Pacific
• Rest of the world
On the basis of regional analysis, the Global Anti-Counterfeit Packaging Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is expected to be the largest market for anti-counterfeiting packaging followed by Europe, Asia Pacific, and RoW. Anti-counterfeit packaging technology is largely widespread in developed countries as they face excessive problems from counterfeit products especially in the pharmaceutical, food, and apparels sector.
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The “Global Anti-Counterfeit Packaging Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Avery Dennison Corporation (U.S.), CCL Industries Inc. (Canada), 3M Company (U.S.), DuPont. (U.S.), AlpVision S.A (Switzerland), and Zebra Technologies Corporation (U.S.), SICPA Holding SA (Switzerland), Applied DNA Sciences Inc. (US), SAVI Technology, Inc. (U.S.), and Authentix, Inc. (U.S). The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.