LONDON, Nov. 19, 2014 /PRNewswire/ -- The market for anti-counterfeit, anti-tampering and authentication is projected to record a CAGR of 14.1% from 2014 to 2019. The estimation is a result of new products & technologies launches in the industry, with increase in application of anti-counterfeit in different economies. Authentication technology dominates the market in terms of value and market awareness of new target crops such as alfalfa and canola.
The anti-counterfeit market is broadly divided on the basis of application as food & beverages, pharmaceuticals, and others, for this study. Others include electronics, clothing, consumer goods, entertainment, automotive equipment, and many more. With a huge market potential and growing awareness about counterfeiting, the market is likely to witness considerable growth in the years to come. In 2013, food & beverages acquired the largest share as an application of anti-counterfeit packaging; however, the market for pharmaceutical is projected to grow at the highest rate.
Factors such as cost, widening application areas, and innovative techniques are increasing the market for anti-counterfeit industry, globally. Authentication and track & trace are the two major technologies used for avoiding counterfeiting. The various sub-segments of authentication includes taggants, holograms, inks & dyes, and even anti-tampering is also considers as a part of authentication, under the scope of the study. On the other side, track and trace includes bar codes and RFID. RFID is expected to grow with the highest rate of more than 20% for the next five years, whereas under authentication hologram is the upcoming technology. An in-depth analysis regarding the usage of technologies across the industries has been undertaken in the study. The growth rate may go higher in the next five years with regular investment in research & development, resulting in innovative technologies that have different applications.
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