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Anti-counterfeit packaging market is forecast to generate revenue of $142.7 billion by 2020

01-04-2019 03:12 PM CET | Health & Medicine

Press release from: Allied Market Research

Anti-counterfeit packaging market is forecast to generate

Anti-counterfeit measurements are taken by companies, so as to minimizing loss due to counterfeiting in-terms of revenue and loyalty. Cost is the significant factor responsible for counterfeiting. However, it is observed that drugs and food items that cost lower are mostly counterfeited mainly due to the lower risk involved in terms of penalties. Anti-counterfeit packaging is used in both over the counter and prescription based drugs. Increase in demand for over the counter drug, through the internet, raises counterfeiting incidence. These threats can be minimized through implementation of RIFD technology, which is collaborated with e-pedigree software.

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According to a new report by Allied Market Research titled "Anti-Counterfeit Packaging Market (Food & Pharmaceuticals) - Global Opportunity Analysis and Industry Forecast, 2012 - 2022", the global anti-counterfeit packaging market in food and pharmaceuticals is forecast to attain market value of$142.7 billion by 2020 from$57.4 billion in 2013, growing at 13.9% CAGR during 2013 to 2020. Technological advancements and government initiatives to curb counterfeiting are expected to drive market growth.

Leading application of anti-counterfeit packaging includes pharmaceutical drugs, food products, electronic products, apparels etc. Ultra-High Frequency RFID technology in collaboration with E-pedigree is providing real-time tracking of products with inventory level management during supply chain.

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The global market for pharmaceutical and food anti-counterfeit packaging is braced by stringent government legislations assigned for specific regions. Pharmaceutical drugs packaging market was valued for$33.7 billion in 2013 and is expected to grow at 13.2% CAGR during 2013-2020. Similarly, a surge in demand for packaged food is luring counterfeiters to duplicate the food products. The anti-counterfeit market for packaged food products was valued at $23.7 billion in 2013, is forecast to grow at a CAGR of 14.8% during 2013-2020.

Geographically, anti-counterfeit packaging technology is prevalent in developed countries, as these countries face more problems from duplicate products, especially in food, pharmaceutical, and apparels. Increase in awareness for authenticating counterfeit products is reinforcing the anti-counterfeit packaging market. North America is the highest revenue generator with $35.6 billion by 2015 and Asia-pacific region is forecast to be the fastest growing market at a CAGR of 15.5% during 2013-2020.

This report offers updated trends commercialized in anti-counterfeit packaging market by key companies. Company profiles included in this report are - Alien Technology Corp., Alpvision, Intermec, Zebra Technologies, Inksure Technologies, Holostik, Hologram Industries, Datamax Corp., Avery Dennison, and Flint Group.

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Allied Market Research (AMR) is a full-service market research and Business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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