Dublin–(Business Wire)–“Anti-Counterfeit Packaging Technology Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030” Report Added to ResearchAndMarkets.com’s supply.
The anti-counterfeit packaging technology market is expected to reach USD 522 billion by 2030, growing at a CAGR of 12% during the forecast period 2022-2030. North America will lead the anti-counterfeiting packaging technology market in 2020. Asia Pacific is estimated to be the fastest growing region between 2022 and 2030.
According to the World Customs Organization, the trade in counterfeit goods is worth more than $650 billion annually. Robust international trade, lack of trade regulations, and weak global supply chains are some of the factors that constantly challenge customs authorities around the world. Customs authorities struggle to strike a balance between regulating trade and facilitating it, which in turn contributes to the flow of counterfeit products into the world economy.
Expanded trade between countries, easy payments and well-established distribution channels have also proven useful for counterfeiting. Online distribution channels that cross national borders facilitate the global movement of goods. However, providing anonymity to counterfeiters, unlimited market space, and low-cost communication and investment are some of the major factors that open up opportunities for the counterfeit trade. Furthermore, weak and compromised national and international IP enforcement makes counterfeiting a market with low barriers to entry.
Counterfeit products pose a significant threat to public health and safety and are detrimental to global commerce. Anti-counterfeit packaging technology can prove useful, providing an important service to manufacturers, governments, and consumers. Technologies such as encoding and printing lead the market in 2020 and are expected to maintain their dominance during the forecast period. The use of holograms is also a proven technology that can act as a barrier in the fight against counterfeit products and their packaging. It saves revenue, manufacturer’s marketing investment, customer loyalty and brand image.
Food & Beverage Industry Driving Anti-Counterfeiting Packaging Technologies Market Growth
Currently, food and beverages is one of the leading end-use industries by value, accounting for more than 35% in 2019, and is expected to maintain its prominence at the highest CAGR throughout the forecast period. Counterfeiting in the food and beverage industry includes product falsification, product substitution, product adulteration, product duplication, unauthorized supplementation, and more.
The anti-counterfeit packaging technology market is expected to witness strong growth in the food and beverage industry over the forecast period owing to the continuous demand for packaged food and beverages.
Additionally, changing consumer preferences and growing concerns about food safety require more effective solutions to reduce the risk of counterfeit products in the industry. The counterfeit food and beverage market is estimated to grow at $49 billion annually, creating a huge opportunity for anti-counterfeit packaging technologies.
Coding and Printing Technology Sector Identified as Dominant Type in 2021
Coding and printing technology accounted for approximately 35% of the anti-counterfeiting packaging market by 2021 and is expected to maintain its dominance over the forecast period. Encoding and printing can be used as both overt and covert methods, which gives this technique an advantage over other techniques. Factors such as low cost, ease of application, ease of identification, and combination of covert and overt techniques are expected to drive technology growth over the forecast period.
The coding and printing technology market was followed by holograms and security labels in 2019. RFID technology is expected to witness the fastest growth during the forecast period. Features such as supply chain tracking, high security against copying, identification without human intervention using wireless capabilities, and remote tag reading will drive the development of this technology.
3M is one of the well-known companies using RFID technology for supply chain tracking at the point of manufacture and point of sale, such as a retail store.Benefits associated with RFID systems include accurate billing, increased inventory visibility, and improved recall management, among others
The rise of manufacturing industry drives the development of anti-counterfeiting packaging technology in Asia Pacific
The Asia Pacific region is expected to witness the fastest growth during the forecast period at a CAGR of 15.1%. This growth can be attributed to high economic growth, heavy investments in the automotive & industrial and food & beverage sectors, and the rise of manufacturing in the region.
Moreover, rising demand for quality products, growing population, and evolving end-use industries are driving innovation and growth in these industries, making Asia Pacific a strong hub for end-use applications globally. According to the OECD (Organization for Economic Co-operation and Development), Asia hosts the majority of counterfeit products and is expected to grow significantly in the near future.
New product development is a key strategy employed by printing solutions pioneer Zebra Technologies
Zebra Technologies, a pioneer in delivering printing solutions for business improvement and security, introduces Zebra Brand Protection Solutions, which includes a new line of secure printer labels, tickets, tags, ribbons and readers – the first ever in the barcode printing industry The first line of covert on-demand printer media. This new product range is effective in combating brand transfer, counterfeiting and gray marketing.
Radio Frequency Identification
Other (digital mass disinfection, digital mass encryption and surveillance technologies)
food and drinks
Healthcare and Pharmaceuticals
Transportation and Industry
Other (handbags, wallets, jewelry, toys, optical media, books, etc.)
Key topics covered:
2. Executive summary
3. Anti-counterfeiting Packaging Technology Market: Competitive Analysis
4. Anti-counterfeiting packaging technology market: macro analysis and market dynamics
5. Anti-Counterfeiting Packaging Technologies Market: By Type, 2020-2030, USD (Millions)
6. Anti-Counterfeit Packaging Technologies Market: By End-Use Industry, 2020-2030, USD (Millions)
7. North America Anti-Counterfeiting Packaging Technology Market, 2020-2030, USD (Millions)
8. UK and EU anti-counterfeiting packaging technology market, 2020-2030, USD (Millions)
9. Asia-Pacific anti-counterfeiting packaging technology market, 2020-2030, USD (millions)
10. Latin America Anti-Counterfeiting Packaging Technology Market, 2020-2030, USD (Millions)
11. Middle East and Africa Anti-Counterfeiting Packaging Technology Market, 2020-2030, USD (Millions)
12. Company Profile
Applied DNA Sciences
For more information on this report, please visit https://www.researchandmarkets.com/r/p257ir
ResearchAndMarkets.com is the world’s leading source of international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, top companies, new products and latest trends.