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Anti-Counterfeit Packaging Market Overview
The global anti-counterfeit packaging market was valued at $114.4 billion in 2017 and is projected to reach $208.4 billion by 2023, witnessing a CAGR of 10.9% during the forecast period. The market growth is mainly driven by the growth of the counterfeit industry and increasing focus of manufacturers on brand protection.
GLOBAL ANTI-COUNTERFEIT PACKAGING MARKET, BY TECHNOLOGY, $M (2013-2023)
The unauthorized reproductions of a brand’s trademark on imitated products that are strikingly identical to the original ones is counterfeiting. Secure packaging is required to avoid such counterfeit products. Anti-counterfeit packaging is the process of assigning secure packaging to the products to minimize counterfeiting and infringement.
On the basis of technology, the anti-counterfeit packaging market is categorized into covert, overt, forensic, and track and trace. Of these, track and trace is expected to be the fastest growing technology in the market, witnessing a CAGR of 11.3% during the forecast period. The fastest growth is attributed to the fact that manufacturers have started preferring tracking and tracing their shipments to avoid any technological complications in the supply chain. This technology allows users to assign unique identity to each product during manufacturing, which helps in product tracing later in the supply chain, making it the most popular technology category among users.
Covert technology is further categorized into security labels, invisible printing, and others. Invisible printing was the most widely used covert technology, which is attributed to the growing demand of this technique for pharmaceutical and security applications. Overt technology is segmented into holograms, color shifting inks, and others, where holograms is leading the market in terms of share. Similarly, track and trace technology is categorized into machine readable data, radio-frequency identification (RFID), and others.
Based on application, the anti-counterfeit packaging market is categorized into pharmaceutical and healthcare, food and beverage, clothing and apparel, and others. Of these, pharmaceutical and healthcare was the largest category in the market, with a contribution of more than 25.0% in 2017. This is attributed to the growing health concerns and rising pharmaceutical production. Pharmaceutical counterfeiting is on the rise around the world, potentially putting at risk the health of millions of patients who buy imitated medicines. In order to deal with these issues, manufacturers are preferring these packaging in order to provide safe medicines to consumers and protect their brand image at the same time.
Globally, North America was the leading regional-level anti-counterfeit packaging market, with more than 40.0% revenue contribution in 2017. This is attributed to the strong base of pharmaceutical, food and beverage, and consumer good manufacturing companies in the region. Along with that, the initiatives taken by various governments in the region to protect users from counterfeit products are also expected to positively impact the market growth.
Anti-Counterfeit Market Dynamics
The major trend witnessed in the anti-counterfeit packaging market is the increasing stringent security regulations being implemented regarding counterfeiting.
Due to the alarmingly increasing activities related to fake products at the global level, anti-counterfeit packaging market has seen a boom in recent years. Manufacturers are becoming aware about these technologies and are relying on their use to protect their brand image. Along with that, the governments of various countries are laying down rules and regulations to control counterfeiting, which is encouraging manufacturers to adopt these packaging technologies. For instance, International Trademark Association (INTA) supports the development and passage of legislation, trade agreements, and regulations throughout the world, which increases national and international enforcement mechanisms against counterfeiting.
Growth of the counterfeit industry and increasing focus of manufacturers on brand protection are the major factors driving the growth of the anti-counterfeit packaging market.
The market for counterfeit goods has witnessed a significant increase over the past years due to high profit margins achieved by the sales of these products. Counterfeiting has penetrated majority of industries including pharmaceutical, food and beverage, clothing and apparels, and consumer goods. For instance, according to a report by the Organization for Economic Co-operation and Development (OECD) and the European Intellectual Property Office (EUIPO), in 2016, the global trade of counterfeit goods was valued at $461 billion. Thus, in order to deal with counterfeit activities, manufacturers are adopting anti-counterfeit packaging technologies to protect their brand image and product authenticity.
High cost requirement for anti-counterfeit packaging has been identified as the major restraint in market growth.
Packaging plays a major role in preventing counterfeiting. New technologies are introduced in the market to ensure that packaging does not get reproduced, especially for sensitive markets such as pharmaceutical, as it can threaten the health of patients. In order to deal with the rising issue of counterfeit drugs, the global regulatory bodies have introduced various stringent rules/legislations to ensure the security of pharmaceutical packaging. However, these technologies involve high cost, which restrains the anti-counterfeit packaging market growth globally.
Anti-Counterfeit Packaging Market Competitive Landscape
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.