The primary goal of anti-counterfeit packaging is to prevent brand imitation. It protects brands and allows customers to tell the difference between genuine and fake products. Clothes, electronics, pharmaceuticals, and other consumer goods imitations are of lower quality and do not exceed required safety requirements. Imitations are sold illegally, resulting in a loss of revenue and a negative impact on the company's brand image. Counterfeiting damages the world economy by US$ 250 billion every year, according to the Organization for Economic Co-operation and Development (OECD). According to the WHO, counterfeit medications account for 10% of all pharmaceuticals sold worldwide. Counterfeiting can occur at any point in the supply chain and is difficult to control.
The repercussions of using Anti-counterfeit Packaging Market products are the primary market drivers. Consumption of counterfeit medications might result in major health problems or even death. Furthermore, anti-counterfeit packaging ensures product quality, which in turn boosts product sales. The biggest difficulty is the high expense of implementing security measures, as well as a lack of consumer awareness about product authenticity.
Based on the type of usage feature, the Anti-counterfeit Packaging Market is divided into five divisions. Product position can be determined using the Track and Trace functionalities. Overt features are tactile and visible to the naked eye. Only skilled professionals with appropriate instruments and forensic features can see covert features, which can only be observed in laboratory circumstances. Tamper Evident packaging is intended to reveal any product tampering.
The pharmaceutical and food and beverage sectors are the two most important end-user industries. Companies have improved security measures in response to rising tampering and adulteration of food and medicines. As a result, the anti-counterfeit packaging sector is booming.
Market Forecast for Anti-Counterfeit Packaging
Anti-counterfeit packaging is most popular in Europe and North America. The countries in these regions have severe laws prohibiting the sale and manufacture of counterfeit goods. The growth of counterfeit internet products, in particular, has afflicted these areas. Online marketplace third-party vendors might easily avoid discovery by sourcing products from other nations. Because they are the world's largest consumer markets, anti-counterfeiting measures are critical in these areas.
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