Anti-Counterfeit Packaging Market Is Grow At An Impressive 12.93% CAGR Through 2027
Research Reports
Dec 13, 2022
The CAGR for the anti-counterfeit packaging market is projected to be 12.93% from the six years from 2021 to 2027. The anti-counterfeit packaging market was worth USD 110.2 billion in 2020. It’s expected to be worth USD 231.87 billion in 2027.
With each passing year, the consumer products business continues to suffer because to the quickly emerging counterfeiting industry. In recent years, there has been an increase in fake prescription medications, cell phone batteries, and auto parts. The global trade in illegal goods has given rise to one of the most lucrative industries: counterfeit pharmaceutical. Untrue medications not only cause harm but also fatalities all over the world, seriously harming the reputation of renowned pharmaceutical producers.
Unfortunately, the rise in the usage of online pharmacies and the appearance of large-scale manufacturers of many counterfeit medical products have accelerated the growth of the market for fake medications. This increases the need for anti-counterfeit packaging, the perfect response to such a dire circumstance.
The latest industry trend that is quickly gaining traction is the expansion of stringent product safety laws linked to counterfeiting. Governments in numerous countries are putting in place strict regulations to try to stop these counterfeiting activities because the number of fake products is constantly rising around the world. The market for anti-counterfeit packaging will undoubtedly benefit from the expansion of these regulations, while the market for counterfeit goods will undoubtedly suffer.
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The market also gains from the producers’ steadily growing worries about the losses brought on by the sales of counterfeit goods. Leading businesses now have much greater concerns about brand dilution, which increases the need for anti-counterfeit packaging. Given the high likelihood of losses brought on by the rising use of counterfeit goods, it is anticipated that the pharmaceutical industry will generate a significant amount of demand for this type of packaging. More and more manufacturers are anticipated to use anti-counterfeiting packaging technologies in the coming years in response to growing worries about brand image and the harmful effects of dangerous drugs.
Regional Analysis :
The top five global markets for anti-counterfeit packaging are North America, Asia Pacific, Europe, and the Rest of the World.
Because businesses are becoming increasingly conscious of counterfeiting operations and the pressing need to address this issue, APAC secured the top spot in the global market in 2016. The region’s expanding population and growing standard of living have also contributed to market expansion. The latter has caused a rise in packaged food demand in the area, which has ultimately benefited the market. Large investments in these technologies are being made by a number of suppliers, which may lead to the establishment of profitable opportunities for market competitors throughout the hypothesised period.
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Estimation is that North America and Europe hold equal shares of the market, with the rise in these regions being the consequence of a greater emphasis on the part of producers to create more sophisticated anti-counterfeit packaging in order to prevent economic loss. Anti-counterfeit packaging is required in the region because these producers are working to safeguard the items’ legitimacy.
Market Segmentation :
Technology, usage features, and end users are among the market categories covered in the anti-counterfeit packaging study.
Labels, barcodes, holograms, RFID, and other technologies are currently being employed in commerce. Due to its use in many industries for reading information stored on product tags, RFID has the greatest potential of all of these to grow the largest market share.
Tamper evidence, track & trace, covert, forensic markers, and overt are the usage aspects that are described in the report. Track & trace usage feature dominated the market in 2016, and estimates show that it will continue to expand at the quickest rate going forward. Since they assist with brand documentation symbols, transportation data during transport, and also display product statistics, track and trace are widely used in all types of packaging variables.
Key Players :
The companies listed in the report’s profiles of industry participants include Atlantic Zeiser GmbH (Germany), Avery Dennison Corporation (U.S.), Sicpa Holding SA (Switzerland), Authentix, Inc. (U.K.), Alpvision SA (Switzerland), Savi Technology, Inc. (U.S.), Zebra Technologies Corporation (U.S.), Ampacet Corporation (U.S.), Applied Dna Sciences Inc. (U.S)
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