Surging Concerns Regarding Brand Dilution Driving Anti-Counterfeit Packaging Market

Companies operating in the pharmaceutical, chemical, consumer goods, food and beverage industries are integrating anti-counterfeit technologies across their packaging lines to deal with the potential ramifications of counterfeit products. In recent years, there has been a significant surge in the losses incurred by manufacturers owing to the increasing sales of counterfeit products. This has further escalated the concerns regarding brand dilution, thereby leading to the wide adoption of anti-counterfeit packaging. In the coming years, the pharmaceutical industry will have a considerable requirement for such packaging owing to the possibility of the damage caused by fake products.

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Moreover, the rising adoption of stringent security regulations will fuel the anti-counterfeit packaging market advance at a CAGR of 10.9% during 2018–2023. The market was valued at $114.4 billion in 2017, and it is expected to reach $208.3 billion by 2023. Manufacturers are adopting anti-counterfeiting packaging technologies to protect intellectual property rights and ensure non-tampered delivery. Additionally, government regulations regarding the packaging of potentially hazardous goods with added protection layers and safety tags facilitate the adoption of anti-counterfeit packaging solutions.

Just like CCL Industries Inc., other packaging companies, such as Avery Dennison Corporation, Atlantic Zeiser GmbH, Zebra Technologies Corporation, Authentix Inc., Sicpa Holding SA, E.I. du Pont de Nemours and Company, Amcor Limited, Applied DNA Sciences Inc., and AlpVision SA, are mostly providing track-and-trace-technology-based anti-counterfeit packaging solutions, which enable manufacturers to track and trace their shipments. These companies also offer covert-, overt-, and forensic technologies-based anti-counterfeit packaging to various end-use industries.

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According to P&S Intelligence, North America emerged as the largest user of anti-counterfeit packaging technologies in the past, and it is expected to retain its position in the coming years. This can be ascribed to the presence of productive consumer goods manufacturing, food and beverage, and pharmaceutical industries, which are the key users of such technologies. Moreover, the high-volume production of clothing and apparel in Mexico, Canada, and the U.S. accelerates the adoption of these technologies.

Thus, the surging awareness among manufacturers regarding the sales of counterfeit products and increasing implementation of government regulations for ensuring that only authentic products make it to consumers will lead to the wide adoption of ant-counterfeit packaging in the coming years.

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This release was published on openPR.