“Counterfeiting products and packaging are mainly proliferating across developing economies. While it is creating growth prospects for vendors in the anti-counterfeit packaging market, some brands are yet to inculcate the practice.” The anti-counterfeit packaging technology market was valued at US$ 1019.1 Mn in the year 2018 and is growing with a high CAGR during the forecast period. Anti-counterfeiting packaging technology is incorporated to prevent imitation and confirm the safety of goods. These measures are adopted by various major companies to minimize losses in terms of revenue and loyalty due to counterfeiting.
The counterfeiting industry is growing across the globe and as a result, the consumer goods industry, pharmaceuticals, and food & beverages industry are primarily being affected. In addition to this, there has been an increase in counterfeit prescription drugs and others are further expected to increase during the forecast period. Despite stringent stringent government policies and enforcement, counterfeiting of products is still continuing in the market with high growth rate.
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· In April 2018, Avery Dennison, a global manufacturer of adhesive technologies, display graphics, and packaging materials, has announced a definitive agreement to acquire Mactac LLC, a developer, manufacturer, and distributor of pressure sensitive adhesive products. This transaction is aimed at strengthening Avery Dennison’s footprint in Europe and add Mactac’s core product line to the company’s graphics solution portfolio
· In November 2017, CCL Industries, the largest label maker, has acquired Worldmark Ltd. (UK), a leading supplier of functional labels for leading designers and brand owners, specifically in the technology sector. The acquisition will provide CCL Industries an access to Worldmark’s six manufacturing plants, sales offices, and prototyping design centers.
· In February 2018: Clariant, a speciality chemicals company, has introduced a new brand name EQius for humidity-control packaging solutions. It will comprise products that are being currently sold as EQ-Pak packets, EQ-Can canisters, EQ-Stopper closures, and EQ-Bag bags. This new single and strong brand is expected to offer enhanced protection against counterfeiting
The market is witnessing growth due to increasing consumer awareness, technological advancements, new application areas, and the growing demand for secured packaging. In addition to these, increasing government regulations and focus mainly on eradicating counterfeit goods in emerging and developed economies are expected to drive the market growth. The regulations are stringent as quality is crucial in the pharmaceutical sector. The legislation is constantly developing and new technologies are becoming available.
In addition to these, the market is further driven by growing concerns about the negative effects of spurious drugs. The anti-counterfeit packaging for pharmaceutical products is expected to emerge as the fastest growing segment in the market over the coming years. However, the high cost associated with the implementation of anti-counterfeiting packaging technologies, apprehensions about the security features of anti-counterfeiting packaging technology among manufacturers, and the lack of awareness about authentic pharmaceutical products among consumers, are expected to hamper the growth of the market. Moreover, the lack of awareness about authentic pharmaceutical products among consumers boosts the counterfeiting process. This is further expected to drive the demand for anti-counterfeiting solutions.
The key players operating in the global anti-counterfeit packaging technologies market include Avery Dennison Corporation, Alien Technology Corporation, Zebra Technologies Corporation, Impinj Inc., Authentix, Essentra PLC, Sicpa, ATL Security Label Systems, Advanced Track & Trace, Alp Vision, and others. Mergers and acquisitions, new product development, and collaborations among the key players are the major strategies that are being implemented across the global anti-counterfeit packaging technologies market.
For instance, in March 2017, INVIXO, an international consulting group, and Systech, a global technology leader, have collaborated to offer various track and trace solutions for the pharmaceutical industry across Europe. With this collaboration, pharmaceutical industries of Europe and the Middle East and Africa are expected to grow at a significant rate, owing to the growing collaborations between companies with an objective to focus on anti-counterfeit packaging technologies.