Trade Resources Industry Views The Growing Problem of Product Counterfeiting Has Raised Its Head a Number of Times

The Growing Problem of Product Counterfeiting Has Raised Its Head a Number of Times

The growing problem of product counterfeiting has raised its head a number of times this year. Now global market research and consulting company, MarketsandMarkets, has released a report on what counterfeiting means to the packaging industry. Titled "Anti-Counterfeiting Packaging Market by Technology (Authentication & Anti-Tempering, and Track & Trace), by Application (Food & Beverage, Pharmaceuticals, and Others)—Global Trends & Forecast to 2019," the report projects that the global anti-tampering, authentication and anti-counterfeit packaging market will grow at a CAGR of 14.1% between 2014 and 2019.

The report includes an analysis and projection of the market size for authentication and track-and-trace technologies. It also identifies the driving and restraining factors of the global anti-counterfeit market with analyses of trends, opportunities, and challenges.

Authentication forms the most dominant segment of this market in terms of market share as well as product innovations. This segment includes taggants, holograms, inks & dyes, and other authentication technologies such as watermarks and digital features. These are being used increasingly in food, beverage, FMCG, pharmaceuticals, and other sectors such as retail, consumer durables & electronics, cosmetics, banks, government & defense agencies.

Authentication technologies are projected to grow at the highest CAGR of 16.3%, because of the increasing awareness about counterfeit products.

Track & trace technologies are dominated by the barcodes segment. Barcodes are used in numerous applications globally and accounted for more than 60% of the track & trace technologies market in 2013. RFID is projected to grow at a CAGR of more than 20.0%, to reach AU$40.6 billion by 2019.

In 2014, North America is the largest market supporting anti-counterfeit, anti-tampering, and authentication technologies followed by Europe. Asia-Pacific is the fastest-growing market for anti-counterfeit technologies with increasing awareness about counterfeit products penetrating regional markets.

Rising instances of counterfeit products that are easily available in local markets and increasing awareness of consumers about counterfeits are the major factors fueling the global anti-tampering, authentication & anti-counterfeiting market. Increasing government regulations and emphasis placed on eradicating counterfeit products in many developed and developing countries is another reason for the growth of anti-counterfeit technologies in various regions.

The leading players of the anit-counterfeiting market are SICPA (Switzerland), Avery Dennison (US), and Zebra Technologies (US).

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