Demand for anti-counterfeit packaging technology continues to rise as more manufacturers face the risk of losing brand equity and revenue due to the proliferation of counterfeit products worldwide.
A recent report by Allied Market Research titled "Global Anti-Counterfeit Pharmaceutical and Cosmetics Packaging Market - Industry Analysis, Size, Growth, Trends, Opportunities, and Forecast, 2014-2020" forecasts the anti-counterfeit pharmaceutical and cosmetics packaging market to grow at a compound annual growth rate (CAGR) of 15.7% during 2015-2020.
- The hologram authentication technology segment accounted for about 52% share in 2014 and would continue to lead the market through 2020, mainly due to varied products and economic pricing.
- Authentication packaging technology garnered a promising market share as compared to track and trace technologies in 2014. However, the growing adoption of track and trace technologies, such as RFID, Barcode and ePedigree (used in pharma), in product tracking and inventory management would surpass the authentication technology segment by 2020.
Other key findings of the study:
- North America will continue to lead the global market throughout the forecast period
- Asia-Pacific is projected to be the fastest growing region during 2015-2020
