New York , Feb. 21, 2024 (GLOBE NEWSWIRE) -- The global authentication and brand protection market size is expected to expand at 4.5% CAGR from 2024 to 2036. The market is anticipated to garner a revenue of USD 5.1 billion by the end of 2036, up from a revenue of USD 2.9 billion in the year 2023. The market value of authentication and brand protection was predicted to be USD 3 Billion in the year 2023. The escalating preference for the maintenance of brand integrity and product credibility to increase customer base is anticipated to propel market growth during the forecast period. As per the survey, over 80% of the consumers refer to brand authentication while deciding to buy the products.
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Moreover, the intensifying number of companies in various sectors including food, beverages, agriculture, clothing, pharmaceutical, commercial buildings, saloons, beauty products, and others is increasing the demand for the market in the coming years. Besides, the presence of an enormous number of brands competing for first place is expanding the expenditure of firms to obtain a unique identity in the market thus driving the market growth. In 2023, Pepsi spent USD 1 million on the logo design for a change while its competitor Coca-Cola has been using the same logo design from 1886 to now.
Authentication and Brand Protection Market: Key Takeaways
- Market in North America region to propel the highest growth.
- The Medical segment to garner the highest growth
- Market in Asia Pacific region to grow at the highest rate
The Development of Track and Trace Technology with Artificial Intelligence to Protect the Brands is Boosting the Growth of the Authentication and Brand Protection Industry
The use of advanced technologies such as blockchain to improve consumer services such as traceability, and provide access to the data of the supply chain with necessary details and insights is mounting the market growth in the coming years. These technologies aid companies to improve productivity, transparency, and profits. Also, the market growth is attributed to the rising application of artificial intelligence (AI) in tracking the delivery location and verification of product delivery during the supply chain process. The implementation of AI in the management of the supply chain by the early adopters decreased the logistics cost by over 14%, inventory levels by more than 30%, and service levels by over 60% while other competitors are on a slow pace.
Authentication and Brand Protection Industry: Regional Overview
The global authentication and brand protection market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Presence of Reputed Brands and Growing Competitors is Propelling the Market Growth in the North American Region
The North American region market is outlined to register a market share of 32% during the forecast period owing to the propagating number of popular brands from various sectors. The strong players from the food, beverage, pharmaceutical, and other industries are analyzed to flourish the market growth in the coming years. The surging implementation of blockchain technology in different sectors to improve anti-counterfeiting uses on account of its visibility, immutability, and traceability. More than 35% of the businesses in the U.S. use blockchain technology as per the survey in 2023. The supply of fake or bogus products and goods that cause loss of money, health, and safety of people is aggregating the progression of the market.
Rising Medical Sector and Government Supporting the Brand Authentication is Hiking the Market Expansion in the Asia Pacific Region
Asia Pacific region market of authentication and brand protection is evaluated to hold a significant market share of 25% by the end of 2036. The market growth is attributed to the developing ratio of manufacturing industries in the region along with the expanding medical industry. The number of hospitals in China reached over 36,600 in the year 2021 with 4 billion hospital visits and 200 million in patient stays. The accumulating percentage of diseases raises the need for the production of new drugs that require authentication for public distribution which is reckoned to augment the market trends. The proliferating government's role in protecting the legal rights of the brands and their authenticity is strengthening the market's growth.
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Authentication and Brand Protection Market Segmentation by Application
- Consumer Electronics
- Automotive
- Medical
- Chemical
- Food & Beverages
- Tobacco
- Clothing
- Cosmetics
The medical segment of the authentication and brand protection industry is predicted to hold a significant market share of 35% during the forecast period owing to the escalating use of medicines across the world. In 2021, as per the data from the Bureau of Indian Standards (BIS), the agency canceled nearly 3500 licenses after running 22000 product tests owing to failure to comply with standards.
The development of government policies and strict guidelines to prevent scams is determined to fuel market segment enlargement in the coming years. The multiplying number of pharmaceutical firms with patent rights must secure their identity to facilitate original product delivery into the market. The brand name is the main value of these pharmaceutical products that promote sales. These factors are anticipated to hike the market segment expansion.
Authentication and Brand Protection Market Segmentation by Offering
- Security Labels
- Security Inks
- Holograms
The security labels segment belonging to the authentication and brand protection industry is expected to secure a market share of 48% by the end of 2036. The increasing advancements in designing materials to provide security and dependability of products, growing documentation, and packaging security labels are envisaged to foster market segments in the coming years. The security labels ensure the avoidance of unauthorized handling, tearing, forging, or tampering with the products. Increasing supply chain attacks are evaluated to flourish the market segment growth in the coming years. Over 1750 firms are attacked by supply chain crimes affecting about 9.8 million people during 2022. The enhanced use of barcodes by the manufacturing industries to attain the legitimacy of goods and services with unique specifications is amplifying the market growth in the coming years.
Authentication and Brand Protection Market Segmentation by Technology
- Overt
- Covert
- Digital
- Forensic
Authentication and Brand Protection Market Segmentation by Authentication Mode
- Smartphone Authentication
- Blockchain Authentication
A few of the well-known market leaders in the global authentication and brand protection market that are profiled by Research Nester are 3M Company, Merck & Co., Inc., Applied DNA Sciences, Inc., Eastman Kodak Company, De La Rue PLC, Authentix, Inc., AlpVision SA, Avery Dennison Corporation, Centro Grafico dg S.p.A., Authentic Vision, and others.
Recent Development in the Market
- Applied DNA Sciences associated with the American & Efrid to develop an advanced identification thread technology to apply in the security and sustainability of sewing threads to promote authentication and validity to their products that are being supplied in the market.
- Authenix declared the acquisition of Royal Joh. Enschede is a leading firm in printing and security services located in the Netherlands. The company was built as a security printing firm with the generation of security documents, brand protection services, postage stamps, and banknotes.
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