NEW YORK, May 25, 2018 (GLOBE NEWSWIRE) -- According to the new market research report published by P&S Market Research, global anti-counterfeit packaging market is projected to reach $208.4 billion by 2023, growth of the counterfeit industry and increasing focus of manufacturers on brand protection are the major factors driving the market growth.
Based on technology, the anti-counterfeit packaging market is categorized into covert, overt, forensic, and track and trace. Of these, the track and trace technology has been the largest category in the market, with a contribution of more than 45.0% in 2017. This is attributed to the fact that manufacturers are now preferring tracking and tracing their shipments in order to avoid any technological complications. This packaging technology uses mass serialization and unique codes to provide unique identity to every item and product, which enable the manufacturers to track their products. Location and other relevant information about the products can also be traced using this technology.
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Covert technology is categorised into security labels, invisible printing, and others; overt technology is segmented into holograms, color shifting inks, and others; and similarly, track and trace technology is further categorised into machine readable data, radio-frequency identification (RFID), and others.
On the basis of application, the anti-counterfeit packaging market is categorized into pharmaceutical and healthcare, food and beverage, clothing and apparel, and others. Among these, pharmaceutical and healthcare is the leading category, with a revenue contribution of more than 25.0% in 2017, which is attributed to the growing health concerns and rising pharmaceutical production. In this category, this packaging lends safety to the products and combats the illicit drug market. Secured packaging is required to thwart the sales of fake products and ensure that drugs are not easily imitated.
During the forecast period, the fastest growing market is expected to be Asia-Pacific (APAC), with a CAGR of 13.5%. Growing awareness about the unscrupulous counterfeiting activities among manufacturers and a decrease in the cost of tracing anti-counterfeit technologies is expected to fuel the market growth of the region in the coming years. The growth can also be attributed to the increasing population along with the increasing disposable income, which is leading to the increasing demand of packaged food items in the region, eventually boosting the anti-counterfeit packaging market. Thus, on the basis of the above-mentioned factors, it can be concluded that the market in APAC is growing at a robust rate.
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However, North America was the leading regional-level anti-counterfeit packaging market, with a revenue contribution of more than 40.0% in 2017.
The market is expected to grow at a significant rate in the coming years, due to the rising concerns regarding counterfeit products. In addition, high concerns regarding brand dilution coupled with the economic losses incurred by the companies are encouraging companies to invest in these packaging technologies, which is expected to create immense opportunities in the market for industry players.
Some of the major players operating in the global anti-counterfeit packaging market are Avery Dennison Corporation, CCL Industries Inc., E.I. du Pont de Nemours and Company, Zebra Technologies Corporation, Sicpa Holding SA, AlpVision SA, Applied DNA Sciences Inc., Amcor Limited, Authentix Inc., and Atlantic Zeiser GmbH.
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