The malpractice of
introducing counterfeit products is severely affecting the global
food industry, causing legitimate and well-established brands
tangible and intangible losses. Such unethical practices affect the
revenue of food companies and also creates distrust towards brands
among end-users. Major players in the global food industry are
constantly striving to remove counterfeit products from their supply
chain, as these affect their sales revenue, thus impacting profits.
Besides this, poor quality of counterfeit products affects respective
brand image of various companies and also raises severe health
concerns among consumers. Well-industrialised counterfeit products
are so well packaged that normal detection techniques are unable to
effectively spot any difference during regular inspection, and these
products are sent to the retail market for sale. Each year, major
players in the global food industry suffers losses, estimated in
hundreds of million dollars, due to the presence of counterfeit
products in the market.
Anti-counterfeit
food packaging technology has emerged in the recent past, and
has been proving to be an efficient and important solution against
counterfeiting globally. Since food products are available easily at
all levels of the market, the food industry is most vulnerable.
Increasing cases of counterfeiting in the food industry are forcing
manufacturers to use anti-counterfeit food packaging at various
levels, and this is expected to increase growth of the concerned
market significantly over the forecast period.
The global
anti-counterfeit food packaging market is projected to account for
significantly high revenue by end of 2024. Several efficient and
innovative technologies are fast emerging in the market for
validation of original products, which are gaining popularity among
manufacturers globally. In addition, increasing use of highly
efficient RFID technologies is one of the most significant factors
expected to drive overall growth of the anti-counterfeit food
packaging market globally.
Rising health
awareness among consumers, understanding of the hazards associated
with forged or counterfeit products, and emergence of
anti-counterfeit technologies are factors expected to fuel growth of
the global anti-counterfeit food packaging market over the forecast
period. Besides, increasing government regulations for eliminating
counterfeit food products from local markets is also encouraging
global companies to invest more in advanced anti-counterfeit
technologies.
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Intense capital
expenditure for anti-counterfeit technology setups and their impact
on the product distribution system and supply chain network are
factors expected to hamper growth of the anti-counterfeit food
packaging market.
The global
anti-counterfeit food packaging market is segmented on the basis of
technology and regions. The technology segment is categorized into
authentication packaging technology and track and trace packaging
technology. The authentication technology is further sub-segmented
into ink & dyes, holograms, watermarks and taggants. The track
and trace packaging technology is sub-segmented under barcode
technology and RFID technology.
In terms of
geography, the global anti-counterfeit food packaging market is
segmented into seven main regions namely North America, Latin
America, Western Europe, Eastern Europe, Asia Pacific excluding
Japan, Middle East & Africa, and Japan. Due to high awareness
about the technology and products, North America is expected to hold
the largest market share in the global anti-counterfeit food
packaging market, followed by Europe. The Asia Pacific
anti-counterfeit food packaging market is expected to expand at the
highest CAGR in terms of revenue over the forecast period.
Some Key
Players in the market include Zebra Technologies, Alien
Technology Corp., AlpVision, Avery Dennison Corp., SICPA HOLDING SA
and others.
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