Anti-Counterfeit Technology: Current and Future Solutions - ReAnIn Analysis
HYDERABAD, India, April 21, 2022 /PRNewswire/ -- Market Overview
According to ReAnIn, the global anti-counterfeit packaging market was valued at USD 109.4 billion in the year 2021 and is projected to reach USD 224.3 billion by the year 2028, registering a CAGR of 10.8% during the forecast period. Growth in e-commerce, significant investment by manufacturing companies in brand protection, and technological advancements are leading drivers of this market. According to the United Nations Conference on Trade and Development (UNCTAD), online retail sales' share of total retail sales increased from 16% in 2019 to 19% in 2020; and e-commerce accounted for US$ 26.7 trillion sales globally in 2019. COVID-19 induced movement restrictions caused the dramatic rise in e-commerce and counterfeiters are specifically targeting online channels to boost their sales. Therefore, the demand for anti-counterfeiting packaging is expected to grow with the growth of e-commerce.
Download free sample: Global Anti-Counterfeit Packaging Market Growth, Share, Size, Trends and Forecast (2022 - 2028)
Future of Anti-Counterfeit Technology: Blending the Physical and Digital Solutions
Currently, the anti-counterfeit packaging market is dominated by conventional solutions such as holograms, barcodes, radio frequency identification (RFID), etc. However, these solutions have various limitations. For example, holograms can be easily imitated and hence, becomes ineffective in current times. According to a 2019 study by the Organisation for Economic Cooperation and Development (OECD) and the European Observatory on Infringements of Intellectual Property Rights (EUIPO), the value of counterfeit goods had reached USD 509 billion in the past three years, representing 3.3% of global trade. Furthermore, there is consensus among industry experts that product counterfeiting will only increase in the coming years. Therefore, the development of future-ready products with the help of artificial intelligence (AI) and blockchain can be one of the effective ways in which industry can protect itself.
An interesting and simple digital solution is Quick-response (QR) codes. These codes contain critical information such as serial numbers and can be detected by optical reading devices including smartphones. This QR code has two important advantages – first, no additional cost or device is required to authenticate; and second, it democratizes the whole process by giving greater power to consumers to authenticate their purchases. Few other digital options are smart labels, near field communication (NFC), AI, and blockchain-enabled solutions.
Key Highlights of the Report:
- Mass encoding segment including barcodes, digital mass serialization, and encryption accounted for the highest market share in 2021. Moreover, the demand for low-price counterfeit technology is expected to grow significantly in the near future.
- Among regions, North America accounted for the highest market (36.7%) in 2021, while Asia Pacific is expected to witness the highest CAGR during the forecast period (2022-2028) owing to increasing awareness among consumers.
- Anti-counterfeiting solutions will not be limited to only high-value goods; however, they will be increasingly used in low-value consumer goods to strengthen brand value and loyalty among consumers.
- Technologies such as QR code, NFC, AI, and Blockchain are expected to have a major impact on upcoming services/solutions in the market as these technologies have the potential to provide details about the entire supply chain from manufacturing to the consumer.
Access the report description on: Global Anti-Counterfeit Packaging Market
Market Segmentation:
ReAnIn has segmented the global anti-counterfeit packaging market by:
- Technology
- Radio Frequency Identification (RFID)
- Mass Encoding
- Holograms
- Forensic Markers
- Tamper-Evident Technology
- Others
- End-User
- Food & Beverage
- Healthcare & Pharmaceutical
- Consumer Electronics
- Apparel & Footwear
- Automotive
- Cosmetics & Personal Care
- Others
- Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Competitive Landscape
Leading players in the anti-counterfeit packaging market include AlpVision S.A., Ampacet Corporation, Applied DNA Sciences, Authentix Limited, Avery Dennison Corporation, CCL Industries Inc., 3M Company, DuPont, PharmaSecure, Sato Holdings, Savi Technology, Sicpa Holding, Systech International, Uflex Limited and Zebra Technologies Corporation. Some of the leading startups offering innovative anti-counterfeiting solutions are Authentico (Italy), Responsible Gold (UK), LetsVeriFy (India), Laava (Australia, and SGNT (US).
Know more about this report: Global Anti-Counterfeit Packaging Market
About ReAnIn
ReAnIn provides end-to-end market research services which span across different support areas such as syndicated market research reports, custom market research reports, consulting, long-term engagement, and flash delivery. We are proud to have more than 100 Fortune 500 companies in our clientele. We are a client-first organization and we are known not just for meeting our client expectations but for exceeding them.
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Name: Deepak Kumar
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SOURCE Reanin Research & Consulting Private Limited
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