Anti-Counterfeit Packaging Market Share, Leading Players and Future Scope

The anti-counterfeit packaging market size is predicted to generate a revenue of $208.3 billion by 2023.
By: P&S Intelligence
 
NEW YORK - April 5, 2021 - PRLog -- The increasing concerns being raised many product manufacturing organizations in several countries over the losses incurred due to the sales of counterfeit products are causing a sharp rise in the demand for anti-counterfeit packaging solutions across the world. In addition to this, the concerns being raised by several pharmaceutical organizations over the damages caused due to the usage of spurious products are augmenting the demand for anti-counterfeit packaging technologies around the world.

Depending on technology, the market is divided into track & trace, forensic, overt, and covert categories. Amongst these, the track & trace category recorded the highest growth in the market in the past. This was because of the large-scale usage of packaging technologies that allow manufacturing organizations to track and trace their shipments and mitigate the occurrence of technological impediments. Based on application, the anti-counterfeit packaging market is classified into food & beverage, pharmaceutical & healthcare, and clothing & apparel.

Out of these, the pharmaceutical & healthcare category registered the highest growth in the market during the last few years. The emergence of online pharmacies, the huge involvement of various under-regulated wholesalers and retailers, and the low production costs are encouraging the manufacturing companies to adopt anti-counterfeit packaging solutions. Furthermore, the implementation of government regulations and policies makes it necessary for packaging companies and manufacturers to adopt these technologies in order to ensure the quality of their products.

Geographically, the anti-counterfeit packaging market (https://www.psmarketresearch.com/market-analysis/anti-cou...) registered the highest growth in North America in the past years, as per the observations of P&S Intelligence, a market research company based in India. This was because of the huge production capacities of organizations working in the food and beverages, clothing and apparels, and pharmaceutical industries in the U.S., Mexico, and Canada. The market is predicted to record the fastest growth in the Asia-Pacific (APAC) region in the future.

Hence, it can be said with full confidence that the demand for anti-counterfeit packaging solutions will explode all over the world in the upcoming years, primarily because of the rising concerns being raised over the sales of counterfeit products by various organizations across different verticals.

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Vijay Kumar
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Tags:Anti Counterfeit Packaging
Industry:Business
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