LONDON--(BUSINESS WIRE)--The anti-counterfeit packaging market is expected to grow by USD 105.86 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio.
The e-commerce industry is rapidly expanding across the globe. In 2019, the overall B2B e-commerce market was valued at USD 6.3 trillion. However, the growth in e-commerce market has significantly increased the penetration of counterfeit products such as sporting goods, shoes, and fashion apparel. In addition, several brands are also complaining against e-commerce companies for allegedly selling fake products under original brand names. For instance, in 2019, Amway, Modicare, and Oriflame complained about the unauthorized sale of their products on some of the leading e-commerce platforms such as Amazon, Flipkart, Healthkart, Snapdeal, and 1MG. Such instances are increasing the demand for anti-counterfeit packaging across the world.
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As per Technavio, the advent of smart and intelligent packaging will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Anti-Counterfeit Packaging Market: Advent of Smart and Intelligent Packaging
Smart packaging involves the use of a variety of holograms, printing methods, and specialized labels. These help consumers confirm the authenticity of the product received. They can also measure the quality of the product present inside and report its condition. Also, smart packaging uses RFID chips to track packages throughout the distribution process, which further limits the possibility of counterfeiting. This trend is expected to positively impact the growth of the global anti-counterfeit packaging market during the forecast period.
“Growing use of 3D barcodes and the rising deployment of blockchain technology will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Anti-Counterfeit Packaging Market: Segmentation Analysis
This market research report segments the anti-counterfeit packaging market by application (consumer goods, healthcare products, and others), geography (North America, Europe, APAC, South America, and MEA), and technology (authentication and traceability).
The North American region led the anti-counterfeit packaging market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to register the highest incremental growth due to the increased penetration of fake products, especially from countries such as China.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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