Anti-counterfeit Food Packaging Market figure to climb $62.5 Billion: Global Trends and industry Projection
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Every year millions of people are deceived into buying counterfeited food and beverages, posing significant health and safety risks, leading the demand of anti-counterfeit packaging (ACP). Conventional authentication technologies still account for the highest revenue in the global ACP market owing to their economic pricing and ease of application. The growing adoption of track and trace technologies, such as RFID and Barcode, in premium product segments including wines and spirits, would gain significance over the forecast period. Furthermore, barcode enabled product tracking helps in maintaining the supply chain integrity.
Emerging tracking technologies, such as DNATrax, exhibit the highest potential in tracking food products with minimal side effects on human health. Lack of awareness for authentication solutions among local manufacturers and the lack of affordability of high end technologies (RFID technology) would limit the market growth. However, the awareness campaigns organized by anti-counterfeit trade associations, and regular interventions from government authorities would result in increased penetration of anti-counterfeit technologies.
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The increasing focus from government authorities towards food crisis management, across middle income population and the rising awareness for authenticated food products are factors that drive the market growth across developing regions. Sicapa and Zebra Technologies are leading players in the global market. Other key manufacturing companies profiled in the report are, Alien Technology Corp., Alpvision, Inksure Technologies, Avery Dennison, Flint Group, and Authentix Inc.
Anti-counterfeit Food Packaging Market: https://www.alliedmarketresearch.com/press-release/anti-counterfeit-food-packaging-market-is-expected-to-reach-625-billion-globally-by-2020-allied-market-research.html
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