Dublin, Jan. 09, 2023 (GLOBE NEWSWIRE) — The “Anti-Counterfeit Packaging Technologies Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030” report has been added to ResearchAndMarkets.com’s offering.
The anti-counterfeit packaging technologies market is expected to reach US$ 522.0 Bn by 2030 with 12% CAGR during the forecast period from 2022 to 2030. In 2020, North America led the anti-counterfeit packaging technologies market. The Asia Pacific is estimated to be the fastest-growing region between 2022 and 2030.
According to the World Customs Organization, the trade of counterfeit goods to generate a value of over US$ 650 Bn, annually. Strong international trade, lack of trade regulations, and globally weak supply chains are some factors posturing a constant challenge to customs authorities around the world. The custom authorities strive to achieve a trade-off between regulating and facilitating trade, which in turn leads to the inflow of counterfeited products in the world economy.
Trade expansion between countries, easy payments, and well-established distribution channels also proving useful for counterfeiting activities. Online distribution channel spread across national boundaries has boosted the flow of goods across the world. However, afforded anonymity to counterfeiters with an unlimited market place along with low-cost communication and investment are some major factors that have opened the opportunities for counterfeit product trade. Further, weak and compromised enforcement of both national and international intellectual property rights has made counterfeiting a low entry barrier market.
Counterfeiting poses a significant threat to public health and safety and detrimental to global commerce. Anti-counterfeit packaging technologies can prove useful, which provides an important service to manufacturers, governments, and consumers. Technology like coding & printing, lead the market in 2020 and is expected to maintain its dominance over the forecast period. The use of holograms are also a proven technology that acts as a barrier to counter counterfeit products and their packaging. It conserves revenue, marketing investment made by the manufacturer, customer loyalty, and brand image.
Food & Beverages industry propelling the growth of anti-counterfeit packaging technologies market
Currently, Food & Beverages is one of the leading end-use industries by value, accounted for over 35% in 2019, and expected to retain its prominence with the highest CAGR throughout the forecast period. Counterfeit in the food & beverages industry includes product faking, product substitution, product adulteration, product copy, unauthorized refill, etc.
The anti-counterfeit packaging technologies market is projected to witness robust growth in the food and beverages sector during the forecast period owing to an incessant demand for packaged food & beverages.
Moreover, changing consumer preference and growing concern over food safety calls for a more effective solution to mitigate the risk of counterfeit products in the industry. It is estimated that the counterfeit food and beverages market will grow by USD 49 billion annually, which creates a huge opportunity for anti-counterfeit packaging technologies.
Coding & Printing technology segment identified as the dominant type in 2021
Coding & Printing technology accounted for approximately 35% of the anti-counterfeit packaging market in 2021 and is expected to maintain its dominance during the forecasted period. Coding and printing can be used as both the overt and covert approach, which gives an edge to this technology over other technologies. Factors such as low cost, easy application, easy recognition, and incorporation of covert technology with overt are expected to propel the technology growth during the forecast period.
The coding & printing technology market was followed by holograms and security labels in 2019. RFID technology is projected to witness the fastest growth during the forecast period. Features such as supply chain tracking, a high level of security against duplication, identification enabled without human involvement using wireless capabilities, and distant tag reading will drive the growth of the technology.
3M, amongst the prominent players using RFID technology for supply chain tracking at the point of manufacture and at the point of sale for e.g. retail store. The benefits associated with RFID system includes accurate billing, increased inventory visibility, and improved recall management amongst others
Rise in manufacturing sector propelling the growth of anti-counterfeit packaging technologies in the Asia Pacific
Asia-Pacific is projected to witness the fastest growth registering a CAGR of 15.1% during the forecast period. This growth can be attributed to high economic growth, heavy investments in automotive & industrial and food & beverages industries, and a rise in the manufacturing sector of this region.
Further, increasing demand for quality products, rising population, and growing end-use industries have led to innovation and developments in these industries, making Asia-Pacific a strong end-use application hub, globally. Asia has a majority of counterfeit products and expected to grow tremendously in the near future as per OECD (Organization for Economic Co-operation and Development).
New product development is the key strategy adopted by Zebra Technologies, a pioneer printing solutions provider
Zebra Technologies, a pioneer in delivering printing solutions for business improvement and security, introduced a Zebra Brand Protection Solutions that includes a new line of secure printer labels, tickets, tags, ribbons, and readers – the bar code printing industry’s first-ever line of covert on-demand printer media. This new product line is effective against combat brand diversion, counterfeiting, and gray marketing.
Food & Beverages
Healthcare & Pharmaceuticals
Transportation & Industrial
Clothing & Apparel
Others (Handbags, Wallets, Jewelry, Toys, Optical Media, Books, etc.)
Key Topics Covered:
2. Executive Summary
3. Anti-Counterfeit Packaging Technologies Market: Competitive Analysis
4. Anti-Counterfeit Packaging Technologies Market: Macro Analysis & Market Dynamics
5. Anti-Counterfeit Packaging Technologies Market: By Type, 2020-2030, USD (Million)
6. Anti-Counterfeit Packaging Technologies Market: By End-use Industry, 2020-2030, USD (Million)
7. North America Anti-Counterfeit Packaging Technologies Market, 2020-2030, USD (Million)
8. UK and European Union Anti-Counterfeit Packaging Technologies Market, 2020-2030, USD (Million)
9. Asia Pacific Anti-Counterfeit Packaging Technologies Market, 2020-2030, USD (Million)
10. Latin America Anti-Counterfeit Packaging Technologies Market, 2020-2030, USD (Million)
11. Middle East and Africa Anti-Counterfeit Packaging Technologies Market, 2020-2030, USD (Million)
12. Company Profile
For more information about this report visit https://www.researchandmarkets.com/r/9ovrva
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