Anti-Counterfeiting Packaging Market Demand, Indepth Analysis And Estimated Forecast Till 2026
The global anti-counterfeiting packaging
market size is projected to reach USD 189.9 billion by 2026, exhibiting a CAGR
of 7.8% during the forecast period. Rising menace of flagrant counterfeiting on
e-commerce platforms is likely to emerge as the central growth driver for this
market, according to the new Fortune Business Insights™ report, titled “Anti-Counterfeiting Packaging Market Size,
Share & Industry Analysis, By Technology (RFID, Holograms, Barcode, and
Others), By End-Use (Food & Beverages, Healthcare & Pharmaceutical,
Industrial & Automotive, Consumer Electronics, and Others), and Regional
Forecast, 2019-2026”. E-commerce platforms have become a breeding ground
for counterfeiters to sell fake products to unsuspecting customers. A study
conducted by a community media platform called Local Circles found that
approximately 20% of the products sold on e-commerce sites are counterfeit.
Widespread presence of such fake products across online marketplaces poses a
grave threat not just to the well-being of consumer, but also to investments
being made into these companies. In response, e-commerce giants such as Amazon
and Alibaba are implementing advanced anti-counterfeiting measures to protect
both consumers and investors, which are leading the anti-counterfeiting
packaging market trends.
The report states that the anti-counterfeiting
packaging market share value stood at USD 104.5 billion in 2018. Besides
this, the report shares the following information:
·
Diligent segmentation of the market and
careful study of each segment;
·
Detailed evaluation of the factors driving and
restraining the market;
·
Comprehensive research into the regional and
competitive dynamics influencing the market; and
·
Precise computation of market values and
figures.
Market
Driver
Concerted
Efforts to Tackle Counterfeiting to Boost the Market
Counterfeiting practices are running rampant across all the major
sectors and industries around the world. These practices have gained firm
ground in critical sectors and have the potential to cause serious, long-term
damage to the healthof consumers. For example, the World Health Organization
estimates that roughly 10% of the pharmaceutical drugs and medicines sold in
low- and middle-income countries are fake or substandard. This, and many such
findings, has spurred governments into action. For instance, China came out
with a law in early 2019 that holds sellers and e-commerce platforms jointly
accountable for counterfeit products sold on such platforms. Many leading
technology companies are also coming to the fore with advanced solutions. For
instance, IBM developed the Crypto Anchor Verifier, an Artificial Intelligence-
and block chain-based counterfeit detector that runs on a smartphone. These
independent efforts have considerably augmented the potential of this market.
Regional
Analysis
North
America to Hold Commanding Lead; Asia-Pacific to Showcase Remarkable Growth
With a market size of USD 37.28 billion in 2018, North America is
slated to dominate the anti-counterfeiting packaging market share during the
forecast period owing to extensive utilization of superior anti-counterfeiting
packaging solutions. This is further propelled by the surging demand for
packaged food and beverage products in the region, which is boding well for the
market.
Asia-Pacific is expected to present plenty of lucrative
opportunities on account of rapid economic growth in India and China. Moreover,
private players and the government in China are focused on effectively tackling
the high rate of counterfeiting in the country through policy and technology,
thereby fueling this market. In Europe, stable demand for consumer electronics
will mainly drive the growth of the market.
Browse
summary:
https://www.fortunebusinessinsights.com/anti-counterfeiting-packaging-market-102692
Competitive
Landscape
Launch of
Novel Solutions to Animate Competitive Fervor among Players
Incorporation of advanced, intelligent technologies in the
e-commerce industry has paved the way for key players in this market to
innovate and come out with next-gen solutions, as per the anti-counterfeiting
packaging market report. As a result, some of the top companies are focusing on
launching new products to entrench their market position, while some are
acquiring businesses to expand their portfolio.
Industry
Developments:
·
March
2020: The US-based RFID provider SML RFID introduced the RFID
FactoryCare™ with the aim tosmoothen the supply chain in fashion retailing by
enabling manufacturers efficiently manage RFID-tagged products. Furthermore,
the product will enhance item visibility all through the supply chain process
and ensure foolproof delivery.
·
March 2020: Avery
Dennison Corporation, the US-based adhesive manufacturer, announced the
successful acquisition of the transponder business arm of Smartrac, a leading
developer and manufacturer of RFID inlays based in Netherlands. The deal was
sealed at an estimated value of €225 million.
List of
Companies Covered in the Report:
• MicroTagTemed
Ltd.
• BrandWatch
Technologies
• AlpVision
• SICPA HOLDING
SA.
• Zebra
Technologies Corporation
• CCL Industries
Inc.
• Impinj, Inc.
• Authentix.
• Avery Dennison
Corporation
• SML Group
• 3M Company
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