Anti-Counterfeit Packaging Protects The Brand Image
31 May 2015
Counterfeiters not only target, popular brands they in fact copy everything that is cheap to manufacture and can fetch them quick cash. Since a decade copied or counterfeit products has cost famous brands billions and billions each year. Apart from the what adverse consequences of crime of replicating has on trademarked items several food and pharmaceutical companies are concerned about the health hazards such products put on the end-consumer.
Thus need for reinforcement operations to curb counterfeiting has persuaded companies such as Alien Technology Corp., Avery Dennison Corp., Authentix Inc., Sicpa and Zebra Technologies Corp to champion secure packaging as an imperative , anti-counterfeit initiatives, to face the growing instances of replicated items and lower losses pertaining to their gains and loyalty.
Such measures have further backed the enforcement of stringent government regulations to makes sure consumer good, food and beverage and medicine packaging are no longer tampered with ease. Additionally, the global anti-counterfeiting packaging industry that has generated proceeds up to $26.4 billion by the end of 2014 is estimated to reach up to $ 62.5 billion through 2020 and see a CAGR of 16 percent during the aforementioned forecast period.
The key factor that has fuelled the anti-counterfeit packaging sector includes the growing need for authentic consumer goods by government regulators, investigators or majorly by the end-users .To top it all, the increasing demand for restraining the malpractices of the manufacturers who may be considering replicating too has contributed to the growth of the aforesaid industry. Recently Allied Market Research has published a report titled “Global Anti-counterfeit Packaging (Food and Beverages) Market (Technology and Geography) - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast, 2014 – 2020.”The report covers data on the countries affected by counterfeiting, packaging trends and the current anti-counterfeit packaging processes. Lastly the countries that are considered as the greatest counterfeit suspects includes Malaysia, China, Thailand and Taiwan among many other nations.
Research Analyst at Allied Market Research
Ranjan has over 4 years of experience in market research and consulting across multiple domains which include technology, FMCG and durable consumer goods, heavy machinery, and automotive. He has hands on expertise in predictive and exploratory research projects for studying regional and global demand potential, market estimation & forecast, perceptions; analyzing macro and micro markets in terms of key gaps and opportunities. Ranjan is part of multiple consulting as well as syndicated report assignments and is actively involved in all the stages of project completion from planning, execution to delivery as per clients satisfaction.