The packaging of the product is of similar importance as that of the product itself. Packaging brings the unique identity to the product and represents the brand under which it is being sold.
Sarasota, FL -- (SBWIRE) -- 07/21/2017 -- The packaging of the product is of similar importance as that of the product itself. Packaging brings the unique identity to the product and represents the brand under which it is being sold. Counterfeiting is an act of having a fake imitation of something which is already established. Thus, anti-counterfeiting is an important concern. It can save the brand from other fake imitations which may hamper its growth.
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Major factors attracting companies to adopt anti-counterfeiting measures are bent in the economy of the company and its profit, and the risk to the consumer's health, especially in the case of food and beverages and pharmaceutical items. In addition, these measures are approved by the government authorities and hence are trusted, which makes it more famous among companies as well as customers. All these factors are contributing to the global anti-counterfeiting market growth. On the other hand, lack of awareness about the fraudulent activities present in the market may hamper the growth of the anti-counterfeiting market, especially in developing countries in the near future.
On the basis of technology, the global anti-counterfeiting market is segmented as authentication packaging technology and track & trace technology. Of which, the authentication technology segment is the leading segment of the market. The authentication technology segment is further classified as ink, holograms, dyes, and others. The others segment is further classified as forensic (which includes chemical, biological, DNA taggants), overt (which includes holograms, graphics, serial product numbering and others), and covert (which includes watermarks, invisible ink or printing, and laser coding). Based on the application, the global market is segmented as food and beverages, pharmaceuticals, cosmetics, electronics, clothing, and others. Of which, the food and beverage segment is dominating the segment in the market followed by pharmaceutical segment.
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North America is the dominating and the fastest growing market. This trend is followed by Europe and Asia Pacific. Owing to more advanced anti-counterfeiting measures available at the disposal, increasing awareness among consumers, growing government regulations and more efficient policies, the growth of this market in developed countries such as North America is increasing. Moreover, developing nations are anticipated to get more share of the market owing to increasing awareness among customers and rising fraudulent activities in the packaging.
The global anti-counterfeiting market is dominated by few companies such as Avery Zebra Technologies, Sicapa, Dennison, Flint Group, Alien Technology Corp., Inksure technologies, and TraceLink Inc. Other key companies influencing the global market are Catalent Pharma Solution Inc., ATL Security Label System, and Atlantic Zeiser.
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Anti-Counterfeiting Market: Regional Segment Analysis
Middle East and Africa