by Greg Kishbaugh
Sustainability may still get the most media attention in the packaging market but the fight against counterfeiting remains one of the most critical facing the industry.
The very nature of counterfeiting of consumer products lies cloaked in secrecy, one of the many reasons it remains a sensitive subject.
A recent report from Allied Market Research looks at the ways in which converters are poised to combat counterfeiting in the pharmaceutical and cosmetics markets. According to the report, the anti-counterfeit pharmaceutical and cosmetics packaging market will grow at a Compound Annual Growth Rate of 15.7 percent during 2015-2020.
The hologram authentication technology segment accounted for about 52 percent share in 2014 and is forecast to continue to lead the market through 2020, mainly due to varied products and economic pricing.
E-pedigree authentication technology is predicted to be the fastest growing segment, estimated to grow at a CAGR of 21.5 percent during 2015-2020.
The counterfeiting of pharmaceutical and cosmetic products raises more concerns than among some other product segment due to the health risk involved. According to the report, “Life threatening consequences due to counterfeit pharmaceutical and cosmetics products have increased the risk of losing brand equity and revenue by the manufacturers, which in turn, fuels the demand for anti-counterfeit technologies.”
Another new report from Reportstack looks at the anti-counterfeiting market for food and beverages, which has generated revenues of $26.4 billion in 2014 and is forecast to reach $62.5 billion by 2020, at a CAGR of 16.1 percent over the forecast period.
This market, like pharmaceuticals and cosmetics, faces health risks associated with the counterfeiting of its products. The adoption of novel, multi-layered technologies for the protection of food and beverages has helped manufacturer to minimize the impact counterfeiting.
The global anti-counterfeiting market, as a whole, is expected to generate revenue of $142.7 billion by 2020 at 13.9 percent CAGR from 2013-2020.