Anti-counterfeiting Companies Answer Industry Challenges with Technology, According to BCC Research
Wellesley, Mass. (PRWEB) September 01, 2015 -- For key players, the ability to enhance the security features and functionality of their anti-counterfeiting technologies remains a huge challenge in an industry buffeted by change. BCC Research reveals in its new report that recent legislative platforms, emerging regulatory and industry requirements, and the increasing sophistication of product counterfeiters will drive market growth.
This report examines anti-counterfeiting packaging technologies in the global food and drug industries, focusing on two broad categories: authentication and track and trace. Authentication packaging technologies include packaging inks and dyes, holograms, watermarks and taggants. Track and trace packaging technologies include bar codes and radio frequency identification (RFID) tags.
The global market for anti-counterfeiting packaging technologies is anticipated to reach $74.2 billion and $135.7 billion in 2015 and 2020, respectively, reflecting a compound annual growth rate (CAGR) of 12.8%. Authentication technologies, the larger of the two technology types by sales, is expected to total $42.6 billion and $96.4 billion in 2015 and 2020, respectively. The faster growing segment of the two, it is expected to achieve a CAGR of 17.7%. The other segment, track and trace technologies, should gain almost $8 billion over the forecast period, reaching $39.2 billion in 2020 with a CAGR of 4.5%.
North America, fueled by its large share of the packaging bar code market, is expected to account for 59.9% of global sales in 2015. End use of anti-counterfeiting packaging technologies in the food industry is projected to account for 66.7% of global sales in 2020. North America is projected to account for 55.5% of global sales, making it the largest market for anti-counterfeiting packaging technologies in 2020.
The impact of counterfeit products on the marketplace, new legislative requirements in both pharmaceutical and food industries, and the need for industry standards relative to legislative requirements and mitigation of counterfeit products, will drive market growth.
“The observed trend toward individualized, convenient and portable packaging will fuel the demand for drug and food packaging, which in turn is projected to drive the demand for the appropriate packaging technologies necessary to secure all of those packages,” says BCC research analyst Rebecca Fron. “As security features and unit-of-use requirements become more complex, authentication and track and trace technologies will begin to almost merge as both will be required to meet security and regulatory demands.”
Anti-Counterfeiting Packaging Technologies in the Global Pharmaceutical and Food Industries (FOD042C) examines the global market in the pharmaceutical and food industries, with emphasis on authentication and track and trace packaging technologies. The report analyzes growth, size and opportunities for different products and technologies, and includes forecasted trends and revenue through 2020.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming(at)bccresearch(dot)com.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key market participants. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Recently selected as the world’s greatest market research company, BCC Research is a unit of Eli Global, LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email information(at)bccresearch(dot)com.
Steven Cumming, BCC Research, http://www.bccresearch.com, +1 (781) 489-7301 Ext: 632, [email protected]
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