Generally, products that are being produced are of two kinds – original and duplicate. Millions of people often get tricked into purchasing low-cost and tempting forged products, thus providing increased opportunities for the counterfeit companies to establish a strong hand in the market by deception. This has led to the economic downfall of numerous manufacturers, which is why they have taken initiatives to stop the illegal counterfeiting of their brand image and identity.
Anti-counterfeiting packaging is a safe and secure way of packaging and labeling the products using advanced technologies to give a unique identity to the products and reduce the counterfeiting procedure. The legitimate companies seek the service of this kind of packaging service to gain assurance. Along with hampering the profit income of the original companies, counterfeiting technique also risks the life of the consumers. Fake medicines, cosmetics, foods and beverage can fatal. Taking all these points into consideration, the anti-counterfeit packaging market is experiencing growth swiftly across the world.
As per the findings of an IndustryARC report, the Global anti-counterfeit packaging market had reached $95,400 million worth in the year 2018. Moreover, the demand will be growing at a compound annual growth rate (CAGR) of 13.4% during the forecast period 2019-2025. The report is titled “Anti-Counterfeit Packaging Market: By Technology (Print [Inks, Dyes & Markers, Holograms, Bar & QR Codes], Tags & Labels [RFID, NFC, Biological/DNA], Watermarks, Taggants); By Feature (Tamper Evidence, Forensic Techniques, Track & Trace, Overt, Covert); By End-User (Food & Beverages, Medical Device & Pharmaceuticals, Consumer Goods, Industrial, Automotive, Clothing & Accessories, Sports & Beauty Products, Banks, Insurance and Financial institutions, Government & Educational Institutions, Cosmetics & Personal Care); By Geography – Forecast (2019-2025).”
Global Anti-Counterfeit Market: Trends and Features
There are several renowned companies that offer the service of anti-counterfeiting packaging in order to ensure safe delivery of the product to the end-users. With these facilities one can achieve cost-effectiveness, security packaging, product’s tracking and tracing, and brand protection. The features that anti-counterfeit packaging technology provides include serialization, RFID, digital watermark, barcode technology, and so on. According to IndustryARC’s report, inks and dyes held the largest market share of 40% in the year 2018 which is followed by labels, bar codes, and QR codes.
- Track and trace technology has a growing demand in the market due to its unique identifying codes and product traceable assistance, which is reliable and efficient. It uses the method of securing the product with a hologram and a QR code, which then gets scanned through each step creating a database and creates a track of every procedure it goes through, lessening the chance of creating its replica.
- Barcode technology is one of the most common tag features which grants a number of benefits to its user. With the help of symbology to encode data, printed as a label of 1D or 2D images, the product can be traced with its location from manufacturers to the ultimate end-users. These type of codes printed on the product packaging can only be read using a laser or image scanner, ultimately leaving no space for copying or stealing.
- With proven satisfactory results, RFID technique is accentuating this scenario. It is an advanced digital data encoding technology attached to the object by means of smart tags using electromagnetic fields, which can be tracked and identified automatically.
These modern technologies are essential to have full-fledged tracking details about the product and for a reduction in counterfeiting practices. It is estimated that these applications will have a CAGR of 12.3% during the forecast period of 2019-2025.
Global Scenario Requires Anti-Counterfeit Technology:
- Regular reports of the sale of unauthorized cosmetic products imitating the original brand around the world have been traced. Available at an amazingly cheaper price with similar features, people fall into the trap of these businesses. These products seem attractive outside and cause harmful effects after regular application on the skin.
- Several cases of fraudulent dealing in food and beverage packaging have been revealed. Cheaper quality services with harmful inks and packaging labels affect the food quality, which is generally used by the counterfeiting companies creating a trend of softness in demand for the original high-quality products. This lowers the overall economy of the business market.
America accounts for the largest food and beverage industries, pharmaceutical companies, and many other well-known brands with a higher demand to preserve and protect the brand image by using these anti-counterfeit packaging technologies. As per the report generated by IndustryARC, America is the leading country in the world to have the largest anti-counterfeit market revenue with a regional share of 39% in the year 2018.
Market champions pioneering this sector include TruTag Technologies Inc., U-NICA Group, Securikett Ulrich & Horn GmbH, SICPA Holding SA, 3M Company, ACG PHARMAPACK PRIVATE LIMITED, E.I. Du Pont De Nemours and Co., AlpVision S.A., Authentix Inc., Avery Dennison Corporation, Zebra Technologies Corporation, and many more.
- TruTag Technologies Inc.
TruTag Technologies provides security solutions for falsification of pharmaceutical, nutraceutical and biotech companies with nanoporous silica and edible bar codes on the drugs, which can be traced and the process includes a secured database. These microtags made of high-quality silica have gained authorization from the U.S. Food and Drug Administration for being safe. Their service is a boost to the long run cracking down of the counterfeit business.
- U-NICA Group
One of the leading companies, U-NICA Group provide anti-counterfeit technology services to many companies worldwide as well as maintains the product and brand integrity. With features including scryptoTRACE, intraGRAM, and spectroTAG, they tag the products or packages with unique codes and labels ensuring track and trace with exact location. Their exclusive anti-diversion service makes it possible for product delivery to the target location reducing any massive fraud.
The population is increasing at a rapid speed affecting the overall consumption of foods and other products, generating a continuous pressure on the global market. The global business market has been rising significantly with huge capital investment and profit gain. This produces a market for fake companies to make their stand in the market by copying brands and products of various companies. Global anti-counterfeit packaging market has revolutionized the world for legitimate businesses, creating a higher demand for anti-counterfeit technologies, secure packaging as well as tracking service in the years to come.
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