The global market for anti-counterfeit packaging is projected to grow from USD 5.3 billion in 2018 to reach USD 9.4 billion by 2023, at a CAGR of 12.1%
The global market for anti-counterfeit packaging is projected to grow from USD 5.3 billion in 2018 to reach USD 9.4 billion by 2023, at a CAGR of 12.1%.
NEW YORK, March 5, 2019 /PRNewswire/ --
Growing demand from the clothing & apparel sector to drive the market for anti-counterfeit packaging
Read the full report: https://www.reportlinker.com/p04674547
The global market for anti-counterfeit packaging is projected to grow from USD 5.3 billion in 2018 to reach USD 9.4 billion by 2023, at a CAGR of 12.1%. The anti-counterfeit packaging market is driven by factors such as the increasing number of counterfeit products in the market, growing brand awareness among buyers about product information, the expansion of the e-commerce industry, developments in printing technologies, and concerns regarding the impact of counterfeit packaging on the brand image of products. The clothing & apparel sector is projected to be the fastest-growing end-use sector in the next five years. Due to stringent laws & regulations enacted by the government in various countries and increasing importance given to packaging security by manufacturers, the demand for anti-counterfeit packaging technologies is projected to grow in this sector. Emerging markets in the Asia Pacific region have widened the application of anti-counterfeit packaging in the packaging industry. The high set-up costs is a major restraint for the anti-counterfeit packaging market.
RFID technology is projected to grow at the highest CAGR during the forecast period
The RFID technology is projected to grow at the highest rate between 2018 and 2023.The RFID technology reads and captures information stored on the tag attached to the product.
RFID technologies are extensively used in the packaging industry as they include tags, readers, and software services. By using tags and readers, products can be traced in seconds; this helps improve and track the supply chain process from the production units through distribution and retailing.
Asia Pacific region to record the fastest growth during the forecast period
The Asia Pacific region is projected to be the fastest-growing market during the forecast period, followed by North America.In the Asia Pacific, China is projected to be the largest consumer for anti-counterfeit packaging, followed by Japan.
China, with its growing food & beverage and pharmaceutical & healthcare industries, is projected to drive the anti-counterfeit packaging market. The growing inclination toward convenient products is projected to impact the anti-counterfeit packaging market in Japan.
Breakdown of primaries
Primary interviews were conducted with a number of industry experts in order to collect data related to different aspects of anti-counterfeit packaging. The distribution of primary interviews is as follows:
• By Company Type: Tier 1 – 40%, Tier 2 – 25%, Tier 3 – 35%
• By Designation: C level – 35%, Directors – 30%., Others – 35%
• By Region: Asia-Pacific – 45%, North America – 25%, Europe – 20%, , South America – 5 %, Middle East & Africa– 5%
The various suppliers of anti-counterfeit packaging and related products in the report are as follows:
1. Avery Dennison Corporation (US)
2. CCL Industries Inc. (Canada)
3. 3M Company (US)
4. E.I. du Pont de Nemours and Company (US)
5. Zebra Technologies Corporation (US)
6. SICPA Holding SA (Switzerland)
7. AlpVision S.A (Switzerland)
8. Applied DNA Sciences Inc. (US)
9. Savi Technology, Inc. (US)
10. Authentix, Inc. (US)
Research Coverage:
The report defines, segments, and projects the anti-counterfeit packaging market size on the basis of technology, usage feature, end-user sector, and region. The study analyzes competitive developments such as partnerships, agreements, contracts, collaboration, and joint ventures, acquisitions, expansions & investments, and new product launches/technological advancements activities in the anti-counterfeit packaging market.
This report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the anti-counterfeit packaging market comprehensively and provides the closest approximation of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. This report will help stakeholders to understand the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand their competitors and gain more insights into their position in the business.
Read the full report: https://www.reportlinker.com/p04674547
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