The global anti-counterfeit packaging in consumer goods market to grow at a CAGR of 17.63% during the period 2017-2021
The report covers the present scenario and the growth prospects of the global anti-counterfeit packaging in consumer goods market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.The report also includes a discussion of the key vendors operating in this market.
One trend in the market is increase in demand for 3D barcodes. Manufacturing companies have been implementing barcoding system in the retail industry, as they need to identify individual parts and not the entire batch of the product. The 3D barcode is an improvement in their inventory and tracking system. It uses the similar principle as linear and 2D barcodes. The 3D barcode is engraved in or applied to the product during the manufacturing process. This barcode can be molded into plastic or composite items.
According to the report, one driver in the market is rise in implementation of traceability systems. Manufacturers of consumer goods have started implementing traceability systems that provide a trail of information of each item in a supply chain. These systems ensure product safety and efficiency. The producers can identify and locate potentially faulty items that could be hazardous to customers and remove them. The companies are implementing vision systems, 2-D barcodes, and image-based ID readers in product traceability systems. Data Matrix is very popular and adopted as a standard in several applications, as it allows the storage of more information such as product ID, manufacturer, lot number, and expiry.
Further, the report states that one challenge in the market is huge investments in traceability systems. Installation of product authentication and traceability system requires a high initial investment. For instance,