GLOBAL ANTI-COUNTERFEIT PACKAGING IN FOOD AND PHARMACEUTICALS MARKET FORECAST 2017-2025 [Updated: 11-07-2017]
Published by Inkwood Research: 11 Jul 2017 | 638506 | In Stock
Global Anti-counterfeit packaging in food and pharmaceuticals market forecast 2017-2025
The Global Anti-counterfeit packaging in food and pharmaceuticals is expected to grow at a CAGR of 15.15% over the forecast period of 2016 to 2025. The revenue generated by the market is expected to increase from 064 million in 2016 to 8338 million by 2025. The major factors responsible for driving the market growth at such a phenomenal rate are stringent government and industry regulations, preclusion of counterfeit packaging, customer loyalty, and an increased health awareness.
The market can be segmented on the basis of application and on the basis of technologies. The applications can be further classified into the pharmaceutical industry and the food industry. The pharmaceutical applications can be sub-divided into retail chain and internet pharmacies. The pharmaceuticals application generated a revenue of 097 million in 2016 and is fast growing. The food application involves packaging using anti-counterfeiting techniques such as barcodes, holograms, and RFID for baby food, dairy products, packaged bakery, convenience food, packaged meat products, confectionery items, and packaged seafood, in order to differentiate branded products from the counterfeits. The technological segmentation is done on the basis of authentication packaging technologies and traceable technologies. The authentication packaging technologies which include products such as taggants, holograms, watermarks, inks, and dyes are expected to show a growth in CAGR of18.27% during the forecast period. The traceability technologies are widely used for tagging products that are susceptible to counterfeiting. They include barcodes and RFID tags. These traceable technologies held a market share of $ 20682 million in 2016 and are expected to lead the Global Anti-Counterfeit Packaging Market in terms of technologies.
The Asia Anti-counterfeit packaging in food and pharmaceuticals is expected to grow at a CAGR of 20.39% during the forecast period. This surge in growth observed in the Asian countries like China and India are majorly attributed to the fast growing retail markets in the region. The Europe Anti-counterfeit packaging in food and pharmaceuticals market generated a revenue of 60 million in 2016 and is expected to grow at a CAGR of 14.32% during the forecast period 2017-2025. However, it is the North American region which anticipated to show the highest growth in CAGR by the end of the forecast period. This exceptional growth is assumed to be a result of the stringent regulations on the quality of drugs and food products in the region. Also, a large number of pharmaceutical companies and retail outlets are implementing RFID for supply chain on a large scale as a security measure to overcome the issues of counterfeiting in this region.