The global anti-counterfeit packaging (food and beverages) market has generated a revenue of $26.4 billion in 2014 and is forecast to reach $62.5 billion by 2020, at a CAGR of 16.1% over the forecast period.
Portland, OR -- (SBWIRE) -- 02/20/2018 -- Growing health risks associated with substandard products and the economic damages caused to the manufacturers are the factors promoting the adoption of such technologies in the anti-counterfeit packaging market. The adoption of novel, multi-layered technologies for the protection of food and beverages has helped manufacturer to minimize the impact counterfeiting. This has also minimized the revenue loss incurred from the counterfeiting practices. Multipurpose applications such as product tracking and authentication of advanced tracking technologies have led to increase in demand for the barcode and RFID technologies. Premium beverages, food products, and tobacco products are secured with these technologies.
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However, the cost associated with the tracking solutions limit their application in the local product tracking solutions. Counterfeiting activities are predominantly observed in the European and Asian regions. The globalization of food related products have given better opportunities for the manufacturers operating across various geographies. This has also helped in maintaining demand supply gap across globe. However, the globalization of food trading increased the risk of counterfeiting in the logistics process, especially for the premium products. Presently, bulk production and fragmented control of manufacturers over supply chain are the two major challenges for the anti-counterfeit packaging market.
Anti-Counterfeit Packaging Market by Technologies
Authentication technology
Ink and Dyes
Holograms
Watermarks
Taggants
Track and trace technology
Barcode technology
RFID technology
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