Anti-counterfeit packaging: Key market research findings
- Rise in the demand for traceability systems
- Development of 3D barcodes
Technavio has released a new market research report on the global anti-counterfeit packaging market, which is expected to grow at a CAGR of more than 15% between 2016 and 2020. One of the major factors driving the growth of the anti-counterfeit packaging market is the prevention of counterfeit products. For instance, in the pharmaceutical industry, prevention of counterfeit products play an important role as basic pharmaceutical producers take stringent measures to prevent medicines or drugs from being counterfeited. North America accounts for 48% of the total market share, owing to surging demand from food, beverage, and cosmetics product packaging segments.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The rise in the demand for traceability systems is a major trending factor stimulating the growth of the anti-counterfeiting market. Because of the complexities involved during the manufacturing distribution process of any product, companies consider traceability systems as the best tool to solve all counterfeit-related challenges. Also, in many countries like the US and the UK, consumers are ready to pay a high amount for products containing traceability certificates and point-of-origin on the food products,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research
Vendors are focusing on advancing technologies such as 3D barcodes, which can be inserted into products at the manufacturing stage. These barcodes are not visible to naked eyes, hence will pose a challenge to counterfeit the products. For instance, Sofmat has limited the use 3D barcode to products that are made using injected molding process and that use molded plastics and composites.
The key vendors in the global anti-counterfeit packaging market include Alpvision, Alien Technology, Avery Dennison, SICPA, and Zebra Technologies. The present market scenario of the global anti-counterfeit packaging market is rigid with the existence of price wars between the local and international players. Since the local players find it difficult to compete with international vendors in terms of quality, features, and range of offerings, they have raised the bar of competition by offering innovative solutions at a price lower than international players.
A more detailed analysis is available in the Technavio report, Global Anti-counterfeit Packaging Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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