Impact of COVID-19 on Economy, Industry and Company :
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
Kindly contact us to know more details: https://www.bizizzmarketresearch.com/contact
In 2019, The Global Anti-Counterfeit Packaging Market Was Valued at US$ 105.6 Bn in 2019 and it is anticipated to witness a CAGR Of 10.8% during the forecast period (2020-2028).
The anti-counterfeit packaging market is majorly driven by rising government laws & regulations and the focus of manufacturers on product protection. Rising demand from developing nations such as China, India is expected to contribute to the growth of anti-counterfeit packaging market.
Rapid adoption of new packaging alternatives in end use industries such as healthcare, food & beverage, electronics, personal care, consumer durables is expected to enhance the market growth in years to come.
An increase in the number of counterfeit products and improved anti-theft measures are anticipated to enhance market growth during the forecast period. The introduction of various government regulations such as European Union Commission’s serialization & labeling measures and the Anti-counterfeiting Trade Agreement by the U.S. is expected to positively support the market growth during the forecast period.
In addition to this, adoption of advanced technology for product tracking, reduce consumer health risks is anticipated to enhance the market growth over the forecast period. Moreover, rising need to minimize infringement and counterfeiting for secure packaging is projected to drive the market growth in years to come. Increasing demand for anti-counterfeit packaging market from emerging markets such as India, China, Brazil, Indonesia and others is expected to further drive the market throughout the forecast period.
By technology type, RFID (radio frequency identification) expected to grow at highest CAGR in Global Anti-counterfeit Packaging Market. However, Barcodes accounted for the highest share of XX% in Global Anti-counterfeit Packaging Market in 2019.
The barcodes segment dominated the market in 2019 owing to high preference for barcodes for brand safety in nearly all industries and especially in pharmaceuitcals, cosmetics & personal care industry. Barcodes offer numerous benefits such as cost savings, difficult to copy, product safety. These benefits offered by bar codes are expected to boost the market share and support market growth.
On the contrary, the RFID segment is anticipated to expand at a rapid pace owing to the wide application of aforementioned technology in different industries such as pharmaceuticals, construction, automotive, food & beverage, chemical and others. RFID technology has various benefits such as it is helpful in tracking temperature, monitoring spoilage, combating fraud. These benefits are also expected to
By End-use, Pharmaceuticals & Healthcare expected to witness CAGR of xx% over the forecast period (2020-2028).
The rapid growth of pharmaceuticals & healthcare industry and increased safety concerns among varied age groups are the major factors for the rapid growth of the segment in years to come. Growing counterfeiting activities in the manufacturing of healthcare products and rising demand for product labeling & differentiation is anticipated to further drive the segment growth throughout the forecast period. To protect the pharmaceutical products from illicit crimes, manufacturers are inclined towards anti-counterfeit packaging, which is expected to enhance the segment growth over the forecast period.
Growth prospects of Anti-counterfeit Packaging are high in Asia Pacific
In 2019, North America dominated the market and contributed to nearly XX% of the global market share in the same year. Manufacturer’s increased focus on developing sustainable protection options is the major reason for the dominance of the region. Moreover, a surge in consumer demand for transparency is one of the key reasons for the dominant position of North America. Rising demand for food, healthcare, electronics and cosmetics product is also an important factor expected to drive regional growth during the forecast period.
Asia Pacific is projected to exhibit rapid growth during the forecast period. High Industrial growth in developing nations of Asia Pacific such as China and India is expected to drive the market in the region. Rapid growth of food & beverage, pharmaceutical & healthcare industry in the region is projected to drive the market in Asia Pacific. Increasing manufacturing activities in Asia Pacific is anticipated to support the growth in the region.
Global Anti-counterfeit Packaging Market is moderately consolidated with presence of a large number of global and local/regional manufacturers. CCL Industries Inc., DuPont, AlpVision S.A, Authentic, Inc., Applied DNA Sciences Inc., Savi Technology, Inc., Avery Dennison, 3M Company, and Zebra Technologies Corporation are some key players operating at regional as well as country level. Partnerships, new product launch, acquisitions and collaborations are some of the key strategies expected to follow by the abovementioned major players during the forecast period.
By Technology Type:
- RFID (Radio-frequency Identification)
- Packaging Designs
By Usage Feature:
- Overt Features
- Covert Features
By End-use :
- Food & Beverage
- Healthcare & Pharmaceuticals
- Clothing & Apparel
- Electronics & Automotive
- Cosmetics & Personal Care
- Consumer Durables
- North America
- Latin America
- Asia Pacific
- Middle East and Africa