Anti-counterfeit Packaging Market in North America 2017-2021
About Anti-counterfeit Packaging
Counterfeits are referred to unauthorized reproductions that are identical to the genuine products. This means counterfeit products are a duplicate of the trademarked brand. Consumer goods such as clothing, cigarettes, jewelry, and electronic equipment are easily counterfeited and sold in the market. Anti-counterfeiting packaging is the process of assigning secure packaging to products to minimize their infringement and counterfeiting. The market for counterfeit goods is growing strongly in North America.
Technavio’s analysts forecast the anti-counterfeit packaging market in North America to grow at a CAGR of 12.68% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the anti-counterfeit packaging market in North America for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Anti-counterfeit Packaging Market in North America 2017-2021
Technavio recognizes the following companies as the key players in the anti-counterfeit packaging market in North America: 3M, Avery Dennison, SICPA, and Zebra.
Other Prominent Vendors in the market are: Alien Technology, AlpVision, CCL, DuPont, Essentra, and Impinj.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is rise in demand for 3D barcodes. With the considerable increase in the counterfeiting of consumer goods, healthcare products, electronics as well as automotive items, the demand for anti-counterfeit packaging increased tremendously. Therefore, manufacturing companies are implementing a barcoding system in end-user industries for identifying individual parts and not the entire batch of the product.”
According to the report, one driver in the market is prevention against counterfeiting. The global counterfeit market was valued at $1-$1.5 trillion in 2016 and is projected to reach more than $2 trillion by 2021. Counterfeiting is a common occurrence in the commercial sector across the globe and is particularly prevalent in North America to a large extent. Fake products such as food, consumer electronics, beverages, pharma products, and agricultural products are penetrating the market at a steady pace. This, in turn, is leading to serious implications for consumers such as the counterfeiting of food products that results in severe health hazards. Counterfeit baby food items such as milk powder as well as spurious medicines having serious health implications have been on the rise since 2014.
Further, the report states that one challenge in the market is high expenditure on authentication and traceability systems. Traceability relies on technologies for providing accurate and efficient ways of tracing as well as tracking products and their movement across the supply chain. It includes technologies for product identification, information capture, analysis, storage, transmission of data, and overall systems integration. Traceability systems include hardware, such as sensing and measuring equipment, identification tags and labels and remote sensing capabilities. These systems are further stored in the cloud server, and data algorithms are carried out for valuable farm insights.
3M, Avery Dennison, SICPA, Zebra, Alien Technology, AlpVision, CCL, DuPont, Essentra, and Impinj.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook