The global anti-counterfeiting packaging market size is projected to reach USD 189.9 billion by 2026, exhibiting a CAGR of 7.8% during the forecast period
The globalanti-counterfeiting packaging marketsize is projected to reachUSD 189.9 billionby 2026, exhibiting aCAGR of 7.8%during the forecast period. Rising menace of flagrant counterfeiting on e-commerce platforms is likely to emerge as the central growth driver for this market, according to the new Fortune Business Insights™ report, titled”Anti-Counterfeiting Packaging Market Size, Share and Industry Analysis, By Technology (RFID, Holograms, Barcode, and Others), By End-Use (Food and Beverages, Healthcare and Pharmaceutical, Industrial and Automotive, Consumer Electronics, and Others), and Regional Forecast, 2019-2026“. E-commerce platforms have become a breeding ground for 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. The widespread presence of such fake products across online marketplaces poses a grave threat not just to the well-being of the 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.
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The report on this market states that the market value stood atUSD 104.5 billionin 2018. Besides this, the report shares the following information:
Concerted Efforts to Tackle Counterfeiting to Boost the Market
Counterfeiting practices are running rampant across all the major sectors and industries around the world. These practices have gained firm ground in critical sectors and have the potential to cause serious, long-term damage to the health of consumers. For example, the World Health Organization estimates 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,Chinacame 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 blockchain-based counterfeit detector that runs on a smartphone. These independent efforts have considerably augmented the potential of this market.
North Americato Hold Commanding Lead;Asia-Pacificto Showcase Remarkable Growth
With a market size ofUSD 37.28 billionin 2018,North Americais slated to dominate the anti-counterfeiting packaging market share during the forecast period owing to extensive utilization of superior anti-counterfeiting packaging solutions. This is further propelled by the surging demand for packaged food and beverage products in the region, which is boding well for the market.
Asia-Pacificis expected to present plenty of lucrative opportunities on account of rapid economic growth inIndiaandChina. Moreover, private players and the government inChinaare focused on effectively tackling the high rate of counterfeiting in the country through policy and technology, thereby fueling this market. InEurope, stable demand for consumer electronics will mainly drive the growth of the market.
Browse Summary Research Report with Detailed Table of Content:https://www.fortunebusinessinsights.com/anti-counterfeiting-packaging-market-102692
Launch of Novel Solutions to Animate Competitive Fervor among Players
Incorporation of advanced, intelligent technologies in the e-commerce industry has paved the way for key players in this market to innovate and come out with next-gen solutions, as per the anti-counterfeiting packaging market report. As a result, some of the top companies are focusing on launching new products to entrench their market position, while some are acquiring businesses to expand their portfolio.
List of Key Companies Covered in the Anti-Counterfeiting Packaging Market Research Report are:
Quick Buy – Anti-Counterfeiting Packaging Market Research Report:https://www.fortunebusinessinsights.com/checkout-page/102692
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