(PharmaNewsWire.Com, August 06, 2024 ) Anti-Counterfeit Packaging Market in terms of revenue was estimated to be worth $157.26 billion in 2023 and is poised to reach $455.77 billion by 2031, growing at a CAGR of 14.53% from 2024 to 2031 according to a new report by InsightAce Analytic.
Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global Anti-Counterfeit Packaging Market are: Rising Global Counterfeiting Threats Consumer Awareness and Demand for Authenticity Technological Advancements
The following are the primary obstacles to the Anti-Counterfeit Packaging Market's expansion: Cost of Implementation and lack of awareness among consumers Lack of Standardization Limited Resources for SMEs
Future expansion opportunities for the global Anti-Counterfeit Packaging Market include: Smart Packaging Solutions Customization and Personalization Global Regulatory Compliance Solutions
Market Analysis:
The anti-counterfeit packaging industry has expanded fast in recent years due to rising demand for counterfeit protection in a variety of industries, including pharmaceuticals, food and beverage, consumer electronics, automotive, and luxury goods. Rising concerns about product safety and authenticity, government rules requiring the use of anti-counterfeit packaging, and an increase in demand for high-quality packaging solutions are all driving the market. Consumer awareness of the risks connected with counterfeit items, particularly in pharmaceuticals and food, has increased demand for products with anti-counterfeiting features.
List of Prominent Players in the Anti-Counterfeit Packaging Market: 3D A.G. (Switzerland) 3M Company (U.S.) Advanced Track and Trace (France) AlpVision S.A. (Switzerland) Ampacet Corporation (U.S.) Applied DNA Sciences Inc (U.S.) Atlantic Zeiser GmBH (Germany) Authentix, Inc. Avery Dennison Corporation (U.S.) CCL Industries (U.S.) Du Pont De Nemours and Company Impinj Inc. (U.S.) Intelligent Label Solutions (U.K.) SATO Holdings (Japan) Savi Technology Inc. SICPA Holding S.A. (Switzerland) SML Group (Hong Kong) Systech International (U.S.) Tracelink Inc. (U.S.) TruTag Technologies, Inc. (U.S.) Zebra Technologies Inc. (U.S.)
Recent Developments: In April 2023, Amazon announced the Anti-Counterfeiting Exchange (ACX), an industry cooperation aimed at making online shopping safer and making it more difficult for counterfeiters to move between sites in order to sell their counterfeit products. ACX enables participating retailers to share information on confirmed counterfeiters who sought to utilize their services to sell counterfeit goods. By exchanging information about these counterfeiters, ACX participants can detect and stop them faster than they would without collaborative data sharing. In October 2022, Gerresheimer, a developer of drug delivery systems, and Merck, a science and technology business, collaborated on a digital twin solution to ensure traceability and confidence in the pharmaceutical supply chain. The companies collaborated and created a Proof of Concept (PoC) to provide the main packaging with a unique I.D. for accessing its reliable digital counterpart. In June 2022, ExxonMobil Lubricants announced the launch of the 'Mobil Super,' a lubricant for passenger vehicles with better packaging that includes a new QR-code-based anti-counterfeit feature on the bottles to allow buyers to check the product's authenticity.
Anti-Counterfeit Packaging Market Dynamics:
Market Drivers: Consumer Awareness and Demand for Authenticity The rising technological advances by the leading manufacturers also contribute to market expansion. With rising consumer and producer worries over brand dilution, many companies have boosted their investments in anti-counterfeit packaging solutions, hence driving market growth. Rising advancements in secure packaging for application in a variety of end-use sectors are expected to drive market expansion over the forecast period.
Challenges: Cost of Implementation and Lack of Awareness Among Consumers The high upfront costs associated with manufacturing and implementing anti-counterfeiting packaging solutions are a major impediment to market expansion. It also facilitates the acceptance of counterfeit tactics, limiting the growth of anti-counterfeit solutions. Furthermore, because barcodes and RFID are easy to reproduce, consumers can be duped, impeding worldwide industry growth. Furthermore, customers lack the necessary knowledge and awareness about the need for anti-counterfeiting systems. The lack of awareness is to blame for the market's slow growth. The high production and investment costs are projected to continue to hamper the market.
North America Is Expected To Grow With The Highest CAGR During The Forecast Period The North American Anti-Counterfeit Packaging market is driven by a number of reasons, including the growing adoption of anti-counterfeit measures in various industries. The market is likely to register a significant revenue share and to develop at a rapid CAGR in the near future. The rapid developments of various end-use sectors, as well as the presence of significant pharmaceutical manufacturers in the U.S., are driving regional growth. Furthermore, increased demand for products that use track and trace technology will drive market expansion in the North American region. Segmentation of Anti-Counterfeit Packaging Market-
By Technology- Authentication Packaging Technology o Ink and Dyes o Security Inks o Holograms o Overt Holograms o Covert Hologram o Watermarks o Physical Paper Watermark o Digital Watermark o Taggants o Detection Taggants o Identification Taggants Track and Trace Packaging Technology o Barcode Technology Bar Code Labels Paper Barcode Labels Aluminum Barcode Labels o Polyester Barcode Labels Ceramic Barcode Labels o RFID Technology Low-Frequency RFID Ultra-high Frequency RFID High-Frequency RFID
By Application- Food Packaging o Canned Food Packaging o Convenience Food Packaging o Baby Food o Packaged Bakery Products o Confectionery o Packaged Dairy Products o Packaged Meat Products o Packaged Seafood Pharmaceutical Packaging o Over the Counter Drugs o Prescription Based Drugs
By Region- North America- The US Canada Mexico Europe- Germany The UK France Italy Spain Rest of Europe Asia-Pacific- China Japan India South Korea South East Asia Rest of Asia Pacific Latin America- Brazil Argentina Rest of Latin America Middle East & Africa- GCC Countries South Africa Rest of Middle East and Africa
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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