Anti-counterfeiting Packaging Market: Overview
Counterfeits are unauthorized reproductions of a trademarked brand which are identical to genuine products. Counterfeit goods include clothing, jewelry, medications, cigarettes, electronic equipment and parts among others. Secure packaging is necessary to avoid counterfeit products. Anti-counterfeiting packaging is defined as the process of assigning secure packaging to the product in order to minimize infringement and counterfeiting. The market for counterfeit goods is growing worldwide and companies have to work harder than ever to combat this threat. Counterfeiting is a major problem in many market sectors, with the pharmaceutical industry most at risk due to illegal and dangerous substance used in counterfeit drugs. Today food and pharmaceutical companies are adopting anti counterfeiting packaging measures to prevent imitation and confirm safety of the goods. In addition, counterfeiting leads to reduced profitability and loss in brand value for the affected company.
Anti-counterfeiting Packaging Market: Segmentation
Anti-counterfeiting technologies followed by companies can be classified as follows: overt, covert, forensic or sterilization. Overt anti-counterfeiting features enable the end users to verify the authenticity of a product. These features are prominently visible and expensive to reproduce. Holograms, optically variable device, color-shifting security inks and films, security graphics, sequential product numbering and on product marking are some of the overt features used by packaging companies.
Covert anti-counterfeiting packaging features enable brand owners to identify counterfeited products. Covert features cannot be detected easily or copied without specialist knowledge. Covert anti-counterfeiting packaging features include Invisible printing, embedded image, digital watermarks, hidden marks and printing, anti-scan design, laser coding, substrates and distinctive odors. Forensic markers are superior technology solutions which require dedicated test kits or laboratory testing to scientifically prove authenticity. These include chemical taggants, DNA taggants, biological taggants, isotope ratios and micro taggants among others.
Counterfeiting is a prevalent practice in majority of consumer industries. Hence, anti counterfeiting packaging technologies have applications in wide range of industries including food and beverage, entertainment, automotive, pharmaceutical, cosmetics, electronics and apparel among others. Food and beverage industry accounted for majority of the anti-counterfeiting packaging market. However, the pharmaceutical sector is expected to grow fastest among application segment due to high adoption rates of anti-counterfeiting packaging technologies by pharmaceutical industry.
Anti-counterfeiting Packaging Market: Trends and Opportunities
Increasing consumer awareness, new application areas, technological advancements and growing demand for secured packaging are some of the major drivers of this market. In addition, increasing government regulations and emphasis laid on eradicating counterfeit good in emerging and developed economies is set to drive the market. However, high cost involved in implementing anti-counterfeiting packaging technologies and apprehension among the manufacturers about the security features of anti-counterfeiting packaging technology is expected to restrain the growth of this market.
Anti-counterfeiting Packaging Market: Geographical and Competitive Dynamics
North America is the largest market for anti-counterfeiting packaging followed by Europe, Asia Pacific and RoW. Anti-counterfeit packaging technology is largely prevalent in developed economies as they face rampant problems from counterfeit products especially in pharmaceutical, food and apparels sector. Asia Pacific is still a niche market and is expected to be the fastest growing market due to rising consumer awareness.
Some of the key players in this market are Zebra Technologies Corporation (the U.S.), Impinj Inc. (the U.S.), Avery Dennison Corporation(the U.S.), Alien Technology Corporation (the U.S.), Authentix (U.K.), Essentra PLC (U.K.), Sicpa(Switzerland), Advanced Track & Trace (France), Alp Vision (Switzerland), ATL Security Label Systems (the U.S.), Atlantic Zeiser (Germany) and E. I. du Pont de Nemours and Company (the U.S.) among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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