The global anti-counterfeiting packagingmarket size is projected to reach USD 189.9 billion by 2026, exhibiting a CAGRof 7.8% during the forecast period. Rising menace of flagrant counterfeiting one-commerce platforms is likely to emerge as the central growth driver for thismarket, according to the new Fortune Business Insights™ report, titled “Anti-Counterfeiting Packaging Market Size,Share & Industry Analysis, By Technology (RFID, Holograms, Barcode, and Others), By End-Use (Food & Beverages, Healthcare & Pharmaceutical, Industrial & Automotive, Consumer Electronics, and Others), and Regional Forecast, 2019-2026”. E-commerce platforms have become a breeding groundfor counterfeiters to sell fake products to unsuspecting customers. A study conducted by a community media platform called Local Circles found that approximately 20% of the products sold on e-commerce sites are counterfeit. Widespread presence of such fake products across online marketplaces poses a grave threat not just to the well-being of consumer, but also to investments being made into these companies. In response, e-commerce giants such as Amazon and Alibaba are implementing advanced anti-counterfeiting measures to protect both consumers and investors, which are leading the anti-counterfeiting packaging market trends.
The report states that the anti-counterfeitingpackaging market share value stood at USD 104.5 billion in 2018. Besidesthis, the report shares the following information:
MarketDriver
ConcertedEfforts to Tackle Counterfeiting to Boost the Market
Counterfeiting practices are running rampant across all the majorsectors and industries around the world. These practices have gained firmground in critical sectors and have the potential to cause serious, long-termdamage to the healthof consumers. For example, the World Health Organizationestimates that roughly 10% of the pharmaceutical drugs and medicines sold in low- and middle-income countries are fake or substandard. This, and many such findings, has spurred governments into action. For instance, China came out with a law in early 2019 that holds sellers and e-commerce platforms jointly accountable for counterfeit products sold on such platforms. Many leading technology companies are also coming to the fore with advanced solutions. For instance, IBM developed the Crypto Anchor Verifier, an Artificial Intelligence- and block chain-based counterfeit detector that runs on a smartphone. These independent efforts have considerably augmented the potential of this market.
RegionalAnalysis
NorthAmerica to Hold Commanding Lead; Asia-Pacific to Showcase Remarkable Growth
With a market size of USD 37.28 billion in 2018, North America isslated to dominate the anti-counterfeiting packaging market share during theforecast period owing to extensive utilization of superior anti-counterfeitingpackaging solutions. This is further propelled by the surging demand forpackaged food and beverage products in the region, which is boding well for the market.
Asia-Pacific is expected to present plenty of lucrativeopportunities on account of rapid economic growth in India and China. Moreover,private players and the government in China are focused on effectively tacklingthe high rate of counterfeiting in the country through policy and technology,thereby fueling this market. In Europe, stable demand for consumer electronics will mainly drive the growth of the market.
Browsesummary:
CompetitiveLandscape
Launch ofNovel Solutions to Animate Competitive Fervor among Players
Incorporation of advanced, intelligent technologies in thee-commerce industry has paved the way for key players in this market toinnovate and come out with next-gen solutions, as per the anti-counterfeitingpackaging market report. As a result, some of the top companies are focusing onlaunching new products to entrench their market position, while some are acquiring businesses to expand their portfolio.
