CHICAGO, December 13, 2018
CHICAGO, December 13, 2018 /PRNewswire/ --
According to the new research report "Anti-Counterfeit Packaging Market by Technology (Coding & Printing, RFID, Hologram, Security labels, Packaging Design), Usage Feature (Track & Trace, Tamper Evidence, Overt, Covert, Forensic Markers), End-Use Sector, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the Anti-Counterfeit Packaging Market size is projected to grow from USD 5.3 billion in 2018 to reach USD 9.4 billion by 2023, at a CAGR of 12.1%. The global anti-counterfeit packaging market is witnessing significant demand owing to the rise in manufacturing activities. The market is driven by factors such as strong growth in the demand from the food & beverage and pharmaceutical & healthcare sectors. The growing pharmaceutical & healthcare industry and an increasing number of counterfeit products in the market are the major drivers of the anti-counterfeit packaging market.
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The food & beverages segment is estimated to witness the fastest growth during the forecast period
The food & beverages segment is estimated to be the fastest-growing during the forecast period (2018-2023). The brand protection solutions are experiencing high demand from the food & beverage industry, mainly due to the growing demand for packaged and branded products. Increasing demand for product differentiation and labeling for their authentication is projected to drive the food & beverage packaging segment.
Track & trace technology of the usage feature segment is estimated to account for the largest share in 2018
The anti-counterfeit packaging market, on the basis of usage feature, is classified into track & trace technology, tamper evidence, overt feature, covert feature, and forensic markers. The track & trace technology segment accounted for the largest share in 2018 as it can locate the package at any point during the delivery process and add substantial value to the product.
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The Asia Pacific is projected to account for the largest share in the anti-counterfeit packaging market in 2023
The Asia Pacific, with emerging economies such as China and India, is projected to drive the anti-counterfeit packaging market. China is projected to account for the largest market share and dominate the Asia Pacific anti-counterfeit packaging market throughout 2023. The growing pharmaceutical & healthcare and food & beverage industries are projected to drive the demand for brand protection in China. In addition, the country's large consumer base, overall economic growth, and an increase in manufacturing activities are projected to drive the demand in the packaging industry.
The major players include Avery Dennison (US), CCL Industries Inc. (Canada), 3M Company (US), E.I. du Pont de Nemours and Company (US), Zebra Technologies Corporation (US), SICPA Holding SA (Switzerland), AlpVision S.A (Switzerland), Applied DNA Sciences Inc. (US), Savi Technology, Inc. (US), and Authentix, Inc. (US). Companies have adopted strategies such as new product launches and acquisitions to cater to the increasing demand in emerging markets.
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