Anti Counterfeit Technologies Expected to Top $80 Billion

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Anti Counterfeit Technologies Expected to Top $80 Billion

Recently it was reported that anti counterfeit technologies in the cosmetics and pharmaceutical packaging market is forecast to grow at a CAGR rate of 15.7% between now and 2020, equating to more than $80 billion around the globe by 2020. These were the findings in a new report developed by Portland-based Allied Market Research in the report, "Global Anti-Counterfeit Pharmaceutical and Cosmetics Packaging Market-Industry Analysis, Size, Growth, Trends, Opportunities, and Forecast, 2014-2020." According to a new article at Packaging World, the demand for anti-counterfeit technologies has been fueled by potentially life-threatening consequences of counterfeit products, which result in manufacturers of these products losing both revenue and brand equity. In 2014, the hologram authentication technology segment accounted for approximately 52% share in the anti-counterfeiting market, and is expected to remain in the lead. E-pedigree authentication technology is estimated to grow at a Compound Annual Growth Rate of 21.5% over the next five years, and is reportedly the fastest-growing segment in the RFID anti-counterfeit technologies market. Companies are fast adopting RFID, barcode, e-Pedigree and other track-and-trace technologies, with authentication packaging technology gaining in the market over technologies used to track-and-trace in 2014. The anti-counterfeit technologies market has been hindered due to many factors including limited awareness of product security, complex operational procedures, and the cost of track-and-trace technology. Now, pharmaceutical companies and active initiatives from anti-counterfeit trade associations support the adoption of technologies used to reduce or eliminate counterfeiting in the cosmetic and pharmaceutical industries. Markem-Imaje provides a wide array of industrial printing solutions designed to help reduce counterfeiting and avoid diversion. Contact us today for all of your industrial marking and coding needs.

January 10, 2014
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