Anti Counterfeit Pharmaceuticals and Cosmetics Packaging Market: Segmented: By Technology (Authentication Packaging Technology, Track and Trace Packaging Technology), By Application (Cosmetics and Personal Care, Pharmaceutical), And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
[ 170 + Pages Research Report ] Anti Counterfeit Pharmaceuticals and Cosmetics Packaging Market to surpass USD 315.6 billion by 2031 from USD 90.1 billion in 2021 at a CAGR of 13.4% in the coming years, i.e., 2021-2031.
Anti-counterfeiting technologies offer techniques for determining if a product is real or counterfeit, or has been subjected to fraudulent activity. They may utilize a variety of methods to accomplish this, such as attaching remote sensors to items or embedding hidden identifiers within them, but they essentially provide one or more of the following functions: authentication, tracking/tracing, and anti-tampering/anti-alteration. Anti-counterfeiting technologies differ in terms of the combination of important activities they perform, the techniques they use to do them, and their mode of inspection – whether they can be verified using human senses or require the use of a specific instrument.
Global Anti Counterfeit Pharmaceuticals and Cosmetics Packaging Market is projected to register a notable CAGR of 13.4% by 2031
Factors such as increased free international trade for pharmaceutical and cosmetic items, as well as low drug regulation, have resulted in the counterfeiting of pharmaceutical and cosmetic products, which has had an impact on the industry. If there are no proper representations, such as their identity or source, medical and cosmetic products are considered to be counterfeited. Several anti-counterfeit technologies, including overt, covert, and track & trace technologies, are employed to reduce counterfeiting of these packaged products. In the worldwide market, this element generates demand.
Authentication Packaging Technology segment is expected to grow with the highest CAGR during 2021-31
On the basis of Technology, the global Anti Counterfeit Pharmaceuticals and Cosmetics Packaging Market is fragmented into Authentication Packaging Technology, and Track and Trace Packaging Technology. In past years, the Authentication Packaging Technology was the largest revenue generator, and it is expected to expand at a significant rate over the forecast period. Authentication packaging technology includes inks and dyes, holograms, watermarks, and taggants, among others. A watermark is a character or image encoded on the package surface that contains authentication information.
Pharmaceuticals segment is expected grow with the maximum CAGR during 2021-31
Global Anti Counterfeit Pharmaceuticals and Cosmetics Packaging Market is classified on the basis of application into Cosmetics and Personal Care, and Pharmaceutical. The pharmaceuticals application generated the most revenue and is expected to expand significantly throughout the projected period. The pharmaceutical packaging industry is facing challenges as the rise of unrestricted medicine commerce encourages counterfeiting. Pharmaceutical packaging makes use of multiple technologies, including covert, overt, and track-and-trace technologies like RFID and Bar Code.
Higher presence of low value and high volume manufacturing nature of the market
The prevalence of the high volume, low-value manufacturing nature of the market is the cause of the severe counterfeiting efforts. The cosmetics and personal care industry's trends are currently transitioning from high-end beauty goods to everyday skin care items marketed in local markets. The threat of counterfeiting in the cosmetics and personal care business would grow as a result. Furthermore, when the pharmaceutical business decentralizes in terms of manufacturing and the small-scale personal care industry emerges, manufacturers' control over the supply chain is eroded, increasing the likelihood of counterfeiting.
The rise in innovative technologies for verification is entering the market
Most of the innovative technologies for verifying the authenticity of cosmetics are being developed and are making their way to market. The growing usage of such technology by global cosmetics producers is driving up demand for anti-counterfeit cosmetics packaging around the world.
Significantly priced Track and Trace Technologies are majorly challenging the market
Traditional authentication technologies such as holograms, inks, and dyes are used to safeguard most low-cost product categories. The market's growth is being hampered by the prohibitive cost structure of track and trace technology, as well as the complex processes required in tracking products.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Anti Counterfeit Pharmaceuticals and Cosmetics Packaging Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. During the projection period, the Asia-Pacific anti-counterfeit medicines and cosmetics packaging market is expected to develop at the fastest CAGR, accounting for 20% of the anti-counterfeit pharmaceuticals and cosmetics packaging market share in 2020. In Asian countries, the anti-counterfeit pharmaceuticals and cosmetics packaging sector is gaining traction. Pharmaceutical businesses are encouraged to use authentication and track-and-trace systems when they become available.
Multiple law enforcement organizations and most of the drug suppliers in U.S. are currently enforced to adopt the anti-counterfeit packaging technologies to deal with the fake pharmaceutical products being transacted during the COVID-19 calamity. Also, the growing number of counterfeit drugs supply is yet another major factor that is driving the demand of the global market during the pandemic situation.
Global Anti Counterfeit Pharmaceuticals and Cosmetics Packaging Market is further segmented by region into:
Anti Counterfeit Pharmaceuticals and Cosmetics Packaging Market Segments:
|Market size value in 2021||USD 90.1 billion|
|Revenue forecast in 2031||USD 315.6 billion|
|Growth Rate||CAGR of 13.4% from 2021 to 2031|
|Base year for estimation||2020|
|Quantitative units||Revenue in USD million and CAGR from 2021 to 2031|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Technology, Application, and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Key companies profiled||Impinj Inc., AlpVision, Authentix, Zebra Technologies Corp., U-NICA Solutions AG, Alien Technology Corp., Hague, Prooftag, OpSec, NanoMatriX International Limited, and Other Prominent Players.|
The Anti Counterfeit Pharmaceuticals and Cosmetics Packaging Market size was estimated at USD 90.1 billion in 2021 and is expected to reach USD 315.6 billion by 2031
Impinj Inc., AlpVision, Authentix, Zebra Technologies Corp., U-NICA Solutions AG, Alien Technology Corp., Hague, Prooftag, OpSec, NanoMatriX International Limited, and Other Prominent Players.
Authentication Packaging Technology segment and Pharmaceuticals segment are anticipated to hold the Anti Counterfeit Pharmaceuticals and Cosmetics Packaging Market
Drivers Higher presence of low value and high volume manufacturing nature of the market
Anti-counterfeiting technologies offer techniques for determining if a product is real or counterfeit, or has been subjected to fraudulent activity. They may utilize a variety of methods to accomplish this, such as attaching remote sensors to items or embedding hidden identifiers within them, but they essentially provide one or more of the following functions: authentication, tracking/tracing, and anti-tampering/anti-alteration.
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