Anti-Counterfeit Packaging Ma
Anti-Counterfeit Packaging Market by Technology (RFID, Barcode, Hologram, Taggants), Usage Feature (Overt & Covert), End-Use Industry (Food & beverage, Healthcare, Electronics & automotive, Consumer durables), and Region – Global Forecast to 2023
Markets and Markets projects that the anti-counterfeit packaging market size will grow from USD 105.9 billion in 2018 to USD 182.2 billion by 2023, at a CAGR of 11.5%. The anti-counterfeit packaging market is projected to witness a high growth due to the increasing focus of manufacturers on brand protection to reduce counterfeiting.
By technology, the RFID segment is projected to grow at the highest CAGR from 2018 to 2023.
In terms of value, the RFID technology segment accounted for the second-largest market share in 2017 and is projected to grow at a highest CAGR during the forecast period. This growth can be attributed to its usage in almost all industries such as automotive, chemical, construction, food & beverages, and pharmaceutical industries. The barcode sector of the technology segment constituted highest share in the anti-counterfeit packaging market; and is projected to grow at a second-highest rate during the forecast period as it is highly preferred for brand protection in almost all industries but especially in personal care & cosmetics products. This is due to the information and code embossed over the barcode does not allow the covert data to be displayed on the label, making it difficult for counterfeiters to copy. A barcode helps companies to integrate product lines and reduce the total cost of ownership.
By usage feature, the overt technology is projected to be the largest market during the forecast period
In terms of value, the overt technology of the usage feature segment accounted for the largest market share in 2017 and is also projected to grow at a higher CAGR during the forecast period. Overt is the most widely used technology as they display product information, brand identification symbols, and transportation details during shipping.