Dublin, March 02, 2022 (GLOBE NEWSWIRE) -- The "The International Market for Brand Protection Solutions Special Focus on China" report has been added to ResearchAndMarkets.com's offering.
WHAT IS THE REPORT ABOUT?
Brand Protection Solutions - Special focus on China - Markets, Opportunities, Technologies, Solutions
WHO IS THIS REPORT USEFUL TO?
International companies that may be interested in doing brand protection related business in China:
- Brand protection solution providers (offline/online)
- Security Labels/Packaging converters
- Security technology providers
- Materials & substrate suppliers
- Brand Owners
- Other interested parties...
WHY SHOULD THEY BUY IT?
Unique, un-missable & potentially very big China related opportunities in brand protection are emerging and are set to grow enormously in the coming years.
Companies that have developed effective integrated brand protection solutions & established a presence in China (or close by in Asia, for example, Hong Kong) today will be better placed to meet the future needs of brand owners in China.
Opportunities for brand protection solution providers across a range of the vertical markets & product types in China have been identified in the course of Vandagraf research.
The world of counterfeiting & also brand protection has evolved almost beyond recognition over the last couple of years and China continues to be at the epicentre of it all both in terms of supply and also demand.
Changes have been fuelled by eCommerce with its multiple effects, itself accelerated by COVID-19 ((lockdowns, travel restrictions & variety of important knock-on effects) - Some of these changes will be permanent & irreversible, some perhaps not.
The market for brand protection solutions globally is forecast to see substantial 16% year-on-year growth through to 2026, which will be matched if not exceeded in China.
Quote: The International Chamber of Commerce (ICC)
"If there's one thing that we know about the trade of counterfeit and pirated goods, it is that it continues to increase alarmingly".
Furthermore, global counterfeiting is multi-faceted:
- Counterfeits sold in the China domestic market to Chinese consumers:
- Counterfeit versions of International Brands created in China:
- Sold in China
- Exported for international sale
- Increasingly, counterfeit versions of fast-growing high quality Chinese Brands
- Sold in China
- Exported worldwide (undermining the image of such Chinese brands internationally).
And in the medium/longer term beyond 2026 the China the prospects for brand protection in China look even better due to a number of clear indicators:
- China accounts for around 80% or more of the World's internationally traded counterfeits (source OECD/Homeland Security)
- Chinese counterfeiters are highly resourceful and often well-funded (*)
- The population of China was some 1.445 billion as of mid-2021. Representing nearly 20% of the population of the World today, with China set to become the World's number one economy in the future.
- A fundamental shift is going on in China - From simply "Made" in China & created elsewhere towards "Conceived & Created" in China - No longer should China be simply viewed as a low-cost producer for international brands.
- Emerging homegrown quality Chinese Brands are today widely on sale in the China home market, competing successfully against international brands, while increasingly being exported to international markets.
(*) International solution providers need to be mindful of the risk of their own proprietary technologies themselves being copied, cloned and/or compromised and are not vulnerable to reverse engineering/cloning when operating in the Chinese market.
A new era of the Chinese homegrown domestic premium/luxury brands post COVID-19 is emerging, leveraging on:
- Continuous improvements in the quality of Chinese products
- A better understanding the fast-changing needs & wants of Chinese consumers of all ages & socio-economic circumstances
- Shorter supply chains, local presence, more agility and ability to respond quickly to shifting demands
- Strong patriotic purchasing trend.
As these Chinese companies strengthen their brands, their products are going to inevitably need protection against counterfeiting, if not already.
Meanwhile, arguably homegrown Chinese counterfeiting is increasingly having a negative impact on China itself, as well as the other countries suffering from Chinese exported counterfeits.
The huge China market cannot be viewed as homogenous with both similarities to other cultures & differences that are unique to China.
While there are certainly strong national traits, there are also big differences within the Chinese nation and its consumers, with quite distinct & different attitudes, behaviour, preferences, loyalties as well as budgets, with:
- Marked distinctions in the habits of younger millennials & GenZs who are driving the market in China
- Further breakdowns between Tier cities 1, 2, 3 & beyond across China.
Selection of 'fit-for-purpose brand protection technology for China needs careful consideration given this huge country's uniqueness & importance in the world of counterfeit branded products and brand protection solutions providers operating in China need to tailor their solutions based on good insights into the Chinese situation.
Meanwhile, there are increasing indications that Chinese government is starting to crack down more on the huge problem of counterfeiters operating in their country, for example:
- China's new eCommerce Law - Online Market Regulation
- US-China 2020 Phase One Trade Deal - Combatting Counterfeiting.
Further Chinese government intervention and robust legal sentencing can act as a stimulus to brand owners to invest further in brand protection.
For more information about this report visit https://www.researchandmarkets.com/r/s1ixzc
