The mushrooming sales of counterfeit goods are causing huge financial losses to manufacturers and brands across the world. Moreover, the abundant availability of counterfeit and fake products in the market is harming the popularity of brands and raising concerns among companies regarding brand dilution. As a result, organizations around the world are increasingly adopting anti-counterfeit packaging solutions. These packaging solutions include a plethora of tracking technologies, barcodes, sealing tapes, and holograms that help brands launch their products in difficult-to-duplicate packaging.

Food and beverages, personal care, cosmetic, and pharmaceuticals are the major industries facing serious counterfeiting issues regarding their products. Out of these, counterfeiting affects the pharmaceutical industry the most, mainly because of the fact that the consumption of fake and counterfeit pharmaceutical products by people may cause long-term health complications in them and sometimes even death. This massively affects the brand’s image and sometimes, makes the brands face lawsuits which, in turn, leads to huge financial losses.

To help companies and organizations overcome this problem, regulatory authorities and governments are increasingly implementing strict safety regulations. Additionally, they are encouraging product manufacturers to ensure non-tampered product deliveries and adopt technologies that can effectively protect their intellectual property. The governments of many countries are also enacting regulations that mandate the packaging of potentially dangerous products with various protection layers such as safety tags in order to prevent/curb their counterfeiting.

The aforementioned factors are fueling the surging adoption of anti-counterfeit packaging technologies, which is, in turn, causing the rapid expansion of the global anti-counterfeit packaging market. As a result, the revenue of the market is predicted to increase from $114.4 billion to $208.3 billion from 2017 to 2023. According to the forecast of P&S Intelligence, a market research firm based in India, the market would progress at a CAGR of 10.9% from 2018 to 2023.

Forensic, overt, covert, and track and trace are the major anti-counterfeit packaging technologies used across the world. Out of these, the adoption of the track and trace category was found to be the highest throughout the world in the years gone by. This was because of the high popularity of anti-counterfeit packaging technologies that allow manufacturing companies to track and trace their products and shipments for preventing their counterfeiting and technological impediments.

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Geographically, the anti-counterfeit packaging market is predicted to exhibit the highest growth rate in the Asia-Pacific (APAC) region in the forthcoming years. This would be because of the presence of thriving food and beverage and pharmaceuticals and healthcare industries in the region. In addition to this, the rising awareness among brands and manufacturers about the escalating counterfeiting activities and the reducing costs of anti-counterfeit technologies will further boost the popularity of these packaging solutions in the region in the future.

Hence, it is safe to say that the demand for anti-counterfeit packaging technologies would surge all over the world in the upcoming years, mainly because of the ballooning counterfeiting of products and the increasing financial losses incurred by brands because of these counterfeiting activities around the world.