In the current scenario, where the pharmaceuticals and food market is riddled with fake products, secure packaging can be one of the most effective techniques to tackle counterfeiting. Anti counterfeit packaging is basically secure packaging of the product for minimizing counterfeiting or infringement. Packaging the product with such techniques ensures uniqueness and confirms safety of the goods. Due to these advantages, many companies are adopting anti-counterfeit packaging to minimize economic losses and preserving brand value of their products. Due to increasing awareness about these techniques, the Global anti-counterfeit packaging market, which was at $57.4 billion in 2013, is projected to generate revenue of $142.7 billion by 2020, growing at a CAGR of 13.9% from 2013 to 2020.
The major influencing factors for the acceptance of anti-counterfeit packaging are revenue losses to the company and consumer health risks. Based on the statistical facts in the report, pharmaceutical companies suffered a loss of around $514 billion in the year 2012. Counterfeiting activities for non-prescribed drugs are majorly responsible. This issue can be addressed by adopting innovative technologies for product tracking, which would minimize the economical losses and further encourage the adoption of anti-counterfeit packaging market. Moreover, support from the governments for anti-counterfeit technologies in food and pharmaceutical packaging are also playing a favorable role in the growth of the market.
Counterfeiting of products is commonly practiced in developing countries as compared to developed countries. To some extent, this can be attributed to the limited awareness among consumers about authenticating pharmaceutical and food products. Globalization of the retail sectors is also favorable to counterfeiters. Also, if the method for brand recall packaging is changed, it can lead to limitations in identifying the original product. This dilemma provides the counterfeiters with an opportunity to produce fake products in the name of original products. Due to these factors, the food and pharmaceuticals markets are suffering losses in terms of revenue and intangible assets. Current trends in anti-counterfeit packaging technology are described in this report along with market intelligence on packaging trends. This report gives a detailed insight into current market trends in anti-counterfeiting packaging market and steps to overcome counterfeiting activities along with expected transformation of these trends.
The major suppliers mentioned in this report include Alien Technology Corp., Alpvision, Zebra Technologies, Inksure Technologies, Avery Dennison, Flint Group, Catalent Pharma Solution Inc., TraceLink Inc., Authentix Inc. and Sicapa.
KEY MARKET SEGMENTS
AUTHENTICATION PACKAGING TECHNOLOGY
TRACK AND TRACE PACKAGING TECHNOLOGY