The Global Anti-Counterfeit Packaging Market size is expected to reach $199.6 billion by 2024, rising at a market growth of 12.2% CAGR during the forecast period

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May 13, 2019, 17:26 ET

NEW YORK, May 13, 2019 /PRNewswire/ -- The Global Anti-Counterfeit Packaging Market size is expected to reach $199.6 billion by 2024, rising at a market growth of 12.2% CAGR during the forecast period. Anti-counterfeit packaging is perceived as the process of assigning the product to secure packaging to minimize falsification or infringement. Anti-counterfeit packaging is the safe packaging process which prevents imitation and confirms the safety of the goods. Counterfeits are unauthorized replicas of a trademarked brand that are identical to genuine products. Falsified goods include, but are not limited to, clothing, jewellery, medicines, cigarettes, electronic equipment and parts. To avoid counterfeit products, safe packaging is necessary. The counterfeit goods market is growing worldwide and businesses have to work harder than ever before to counter this threat.

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In underdeveloped and developing nations, counterfeiting practices are more common than developed ones. However, the lack of awareness of food and pharmaceutical products validating among customers bothers the expansion of the market in many underdeveloped areas worldwide. The globalisation of retail industries, which indirectly offers counterfeiters a crucial advantage in disrupting the genuine goods market, currently presents a challenge to the market for anti-counterfeit packaging. As a result of income and intangible assets, the global markets for food and beverages as well as the pharmaceutical and retail products suffer loss. Any fundamental or crucial changes in the brand retrieval process can create a barrier to the recognition of the real product and can certainly assist the forgers in the production of fake products on behalf of the first product.

Based on Usage Feature, the market is segmented into Overt Features and Covert Features. Based on technology, the market is segmented into Barcodes, RFID, Hologram, Packaging Designs and Others. The second-largest market share in 2017 was in the RFID technology segment, expected to grow in the forecast period with the highest CAGR. This increase can be directly related to its use in nearly every industry like the automotive, chemical, constructing, food & beverage and pharmaceutical industries. Based on End User, the market is segmented into Food & Beverage, Healthcare & Pharmaceutical, Electronics & Automotive, Consumer Durables, Clothing & Apparel and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Avery Dennison Corporation, CCL Industries Inc., 3M Company, DowDuPont (DuPont), Zebra Technologies Corporation, SICPA Holding SA, Applied DNA Sciences Inc., SAVI Technology, Inc., Authentix, Inc., and AlpVision S.A.

Read the full report: https://www.reportlinker.com/p05774591/?utm_source=PRN

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