Anti-counterfeit packaging market set for double-digit growth: report

The value of the global market for anti-counterfeit packaging technologies is expected to reach $357.9 billion by 2026, according to a new report.

Research consultancy Credence Research released its report yesterday, May 16.

Anti-counterfeit packaging technology can be used to authenticate a product’s genuineness and track its source to determine brand security.

It can be a “useful” and “important service” for manufacturers, governments, and consumers, Credence said. For example, the use of holograms is a “proven technology that acts as a barrier to counter counterfeit products and its packaging”, it noted.

The report explained that the growth of international trade and “globally weak supply chains” mean that customs authorities are left to strike a balance between implementing trade regulations and encouraging trade facilitation, and the result has led to an “inflow of counterfeited products”.

Figures from the World Customs Organization suggest the trade of counterfeit goods generates more than $650 billion annually.

Credence said the anti-counterfeit packaging technologies market will experience double-digit growth over the next nine years due to the rising concern of brand protection.

The company explained that manufacturers are more aware of the financial damage that counterfeit packaging can cause. Reputational damage is another cause for concern—the report identified a growing health risk associated with substandard and unregulated products, particularly in the food industry.

The counterfeit food and beverages market is growing at a rate of $49 billion every year, creating a “huge opportunity” for the use of anti-counterfeit packaging technology, according to the report, and changing consumer preferences have contributed to growing safety concerns related to counterfeit food.

As such, Credence said, the growth of the anti-counterfeit packaging technologies market will be most “robust” within the food and beverage sector.

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