Dublin, May 10, 2024 (GLOBE NEWSWIRE) -- The "Global Anti-counterfeit Packaging Market Outlook, 2029" report has been added to ResearchAndMarkets.com's offering.
Global Anti-counterfeit Packaging Market is anticipated to cross USD 250 Billion by 2029, increasing from USD 147.57 Billion in 2023. The market is expected to grow with 10.07% CAGR by 2024-29.
Heightened consumer awareness regarding counterfeit products has played a pivotal role in driving the adoption of anti-counterfeit packaging. As consumers become more discerning, they actively seek reassurance that the products they purchase are genuine and safe. Businesses are increasingly recognizing the importance of safeguarding their brand reputation.
Adopting anti-counterfeit packaging not only protects a brand's integrity but also preserves consumer trust, which is vital for sustained success in a competitive market. The intricate nature of global supply chains makes it challenging to monitor and secure every step of the production and distribution processes. Anti-counterfeit packaging technologies provide a layer of security by enabling real-time tracking, traceability, and authentication throughout the supply chain.
Governments and regulatory bodies are actively promoting anti-counterfeit measures to protect consumers and maintain market integrity. The adoption of anti-counterfeit packaging helps businesses stay compliant with evolving regulations, avoiding legal repercussions and demonstrating a commitment to consumer safety. The continuous evolution of technology has facilitated the development of sophisticated anti-counterfeit solutions.
From holographic labels to QR codes, RFID tags, and nanotechnology, businesses have a diverse array of tools at their disposal to create secure packaging that is challenging for counterfeiters to replicate. Anti-counterfeit packaging is a technology intended to discourage counterfeiters from creating and selling fake or imitation goods. Protecting product authenticity and guaranteeing that customers receive authentic and secure goods are the two main objectives of anti-counterfeit packaging. It uses a range of techniques and technologies such as holograms & security labels, tamper-evident packaging, QR codes & barcodes, invisible ink, UV printing, microprinting, and RFID.
Market Drivers
- Consumer Awareness and Demand: Heightened consumer awareness regarding counterfeit products and their potential risks is a significant driver for the anti-counterfeit packaging industry. Consumers are increasingly seeking assurance that the products they purchase are genuine and safe. This demand for authenticity has pushed manufacturers to invest in anti-counterfeit packaging solutions to protect both their brands and their consumers.
- Regulatory Requirements: Governments and regulatory bodies worldwide are implementing stricter regulations to combat counterfeiting and protect consumer interests. These regulations often mandate the use of anti-counterfeit measures in certain industries, such as pharmaceuticals and food. Compliance with these regulations is a major driver for the adoption of anti-counterfeit packaging technologies by businesses to avoid legal repercussions and maintain market access.
Market Challenges
- Cost of Implementation: Facing the anti-counterfeit packaging industry is the cost of implementing robust anti-counterfeit measures. Advanced technologies such as RFID tags, holographic labels, and track-and-trace systems can be expensive to integrate into packaging materials and supply chains. Smaller businesses, in particular, may struggle to afford these investments, posing a barrier to widespread adoption.
- Adaptation and Scalability: Adaptation and scalability of anti-counterfeit packaging solutions across different industries and product types is a major challenge. What works for one product or market may not be suitable for another, and ensuring that anti-counterfeit measures are effective and adaptable requires careful consideration. Additionally, scalability can be an issue when implementing these solutions across large supply chains with multiple stakeholders, requiring coordination and collaboration among various partners.
Market Trends
- Integration of Digital Technologies: A significant trend in the anti-counterfeit packaging industry is the integration of digital technologies such as QR codes, NFC (Near Field Communication), and blockchain. These technologies enable consumers to verify product authenticity using smartphones and provide real-time tracking and traceability throughout the supply chain. As digitalization continues to advance, we can expect to see increased adoption of these technologies to enhance anti-counterfeit efforts.
- Focus on Sustainability: There is a growing trend towards sustainable anti-counterfeit packaging solutions that not only protect products from counterfeiting but also minimize environmental impact. Manufacturers are exploring eco-friendly materials and packaging designs that incorporate anti-counterfeit features without compromising sustainability goals. This trend reflects consumer preferences for environmentally responsible products and aligns with broader industry efforts towards sustainability and corporate social responsibility.
Competitive Landscape
- Competitive Dashboard
- Business Strategies Adopted by Key Players
- Key Players Market Share Insights and Analysis, 2022
- Key Players Market Positioning Matrix
- Porter's Five Forces
Company Profiles
- 3M Company
- Fisher & Paykel Healthcare Corporation
- CCL Industries Inc.
- Avery Dennison Corporation
- Zebra Technologies Corporation
- Applied DNA Sciences, Inc.
- Authentix, Inc.
- SATO Holdings Corporation
- Brady Corporation
- SICPA
- UPM-Kymmene Oyj
- Assa Abloy AB
- AptarGroup, Inc
- Identiv, Inc.
- Schott AG
- DuPont de Nemours, Inc
- Uflex Ltd
- Alpvision SA
- Impinj, Inc.
- Alien Technology
Considered in this report
- Geography: Global
- Historic year: 2018
- Base year: 2023
- Estimated year: 2024
- Forecast year: 2029
Aspects covered in this report
- Global Anti-Counterfeit Packaging market Research Report with its value and forecast along with its segments
- Various drivers and challenges
- On-going trends and developments
- Top profiled companies
- Strategic recommendation
By Technology
- Mass Encoding
- RFID
- Holograms
- Forensic markers
- Tamper Evidence
- Smart Packaging
- Others
By Application
- Pharmaceuticals
- Food & beverage
- Apparel & footwear
- Automotive
- Personal care
- Electrical & electronics
- Luxury goods
- Others
For more information about this report visit https://www.researchandmarkets.com/r/wsl31k
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