A new report says the global anti-counterfeit packaging market size is projected to grow from the US$120bn size in 2022, to $410bn by 2032, showing a 12 per cent CAGR over the next eight years.
The report, by Global Market Insights (GMI), says the escalating global trade of counterfeit goods across multiple industries, from pharmaceuticals to consumer goods, is fueling the demand for effective anti-counterfeit measures.
According to GMI, the influx of stringent regulations, and the increased awareness about economic and health risks associated with counterfeit products, is driving the need for advanced packaging solutions.
As an example, it points to last year’s development by combined digital and physical security provider Holostik, which introduced Optashield, a new anti-counterfeiting technology to prevent counterfeiting, and offer a simple method for end-customers to authenticate products.
GMI says the pharmaceutical and food and beverage sectors are witnessing a surge in demand for anti-counterfeit packaging to ensure product safety and brand integrity. It says the rising technological advancements, such as RFID and QR codes are making way for enhanced traceability and authentication, and says the increasing emphasis on safeguarding brand reputation and consumer trust will also complement the industry growth.
The industry share from the RFID segment is projected to increase at 13 per cent CAGR from 2023 to 2032, owing to the widespread adoption for enhanced traceability and authentication. GMI says this is because RFID tags facilitate real-time tracking of products throughout the supply chain for offering robust solution against counterfeiting. It says the efficiency in inventory management, coupled with the ability to store and transmit product information securely, will boost the segment growth.
The anti-counterfeit packaging market share from the pharmaceuticals vertical segment is estimated to rise by at least 12 per cent CAGR from 2023 to 2032, led by the rollout of stringent regulations and the surging need to ensure drug safety. GMI forecasts that increased instances of counterfeit drugs, coupled with the strong focus on patient well-being, will also propel the demand for advanced anti-counterfeit packaging solutions, including track-and-trace technologies and tamper-evident features.
