Rugged Expansion Foreseen by Anti-counterfeit Beverage Packaging Market during 2024
Global Anti-counterfeit Beverage Packaging Market: Overview
In simplified terms, counterfeiting means imitating
something. Counterfeit products are fake and unauthorized replicas of the
original product. Having a serious negative impact on the beverage industry,
counterfeiting results in intangible loss for the vendors in the industry. This
in turn affects the companies’ revenue. Beverage companies are taking steps in
continuity to fight counterfeiting as it affects their revenue on a serious
note. Moreover, the brand name and image of the company is affected due to the
lower quality of counterfeit products which results in health issues of the
customers. It is rather difficult through regular inspection to trace
counterfeit products. This further results in the entry of anti-counterfeit
beverage packaging in the retail markets. Due to compromised
product quality, counterfeit products pose threats to the health and safety of
customers, which in turn deteriorates the concerned companies’ brand name and
image.
For detecting counterfeit beverage products across the
globe, anti-counterfeit beverage packaging technologies have been invented.
Because of easy availability of counterfeit products in local markets, the beverage
industry is severely affected. Due to the increasing production of beverage
counterfeits, it is expected that the anti-counterfeit beverage packaging
market will experience lucrative growth in the future. It is predicted that the
global anti-counterfeit beverage packaging market would grow in terms of
revenue until 2024. Many new, efficient, and easy to use technologies for
testing the originality of the products are emerging in the market.
Manufacturers are using such technologies and thus assisting in the growth of
the global anti-counterfeit beverage packaging market.
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As a result of the increasing consumer awareness regarding
products and technologies, America and Europe are anticipated to serve as
potential regions for the market among other regions in the near future.
Counterfeiting is globally affecting the beverage industry,
resulting into innumerable tangible and intangible losses for the players
operating in the industry. It affects the revenue of companies along with the
end-users of their products. Beverages industries are continuously taking steps
to fight counterfeiting in their supply chain as it seriously affects their
sales revenue. Besides, lower quality of counterfeit products affects the brand
image of the company and also results in health issues among consumers. Forged
packaging products are so well industrialised that it becomes impossible to
trace them through regular inspection and, thus, such counterfeit beverage
products make entry into the retail market. With their poor product quality, they
pose severe concerns related to the consumers’ health safety, and consequently
lead to the deterioration of the brand image of the affected company.
Counterfeiting affects the gross revenue of the company and
causes immense long term damage to its credibility. Every year, significant
amount of losses are incurred by the operating players due to the usage and
sale of counterfeit products in the global beverages industry.
The anti-counterfeit beverage packaging technology has
emerged as an efficient solution for detecting counterfeit beverage products
globally. The beverages industry to get severely affected by counterfeit
products as these products are easily available in the local market. Due to
rapid surge in the number of beverage counterfeit products, the
anti-counterfeit beverage packaging market is expected to witness a significant
growth over the forecast period of 2016-2024.
The global anti-counterfeit beverage packaging market is projected to become a
multi-billion industry, by end of 2024. Several easy-to-work and
efficient-in-functioning innovative technologies for validating the
authenticity of the original products are penetrating the market. The adoption
of such technologies by manufacturers in turn is propelling the demand for
anti-counterfeit beverage packaging globally. Use of highly efficient RFID
technologies is one of the most significant factors driving the overall growth
of the anti-counterfeit beverage packaging market currently.
Due to rising health consciousness, consumers are getting
increasingly aware about forged or counterfeit products and anti-counterfeit
technologies. This factor is affecting the market positively. Increasing
government regulations for eliminating the usage of counterfeit beverage
products from the local market is also compelling the global companies to
invest in advanced anti-counterfeit technologies. The synergistic approach of
market players with various government organizations is expected to provide a
substantial platform for the growth and development of the global
anti-counterfeit beverage packaging market in the coming years.
Apart from the above driving factors, there are several
others factors restraining growth of the global anti-counterfeit beverage
packaging market currently. Among these, high costs of anti-counterfeit
technology setups and their impact on the product distribution system and
supply chain network are the major factors expected to hinder growth of the
anti-counterfeit beverage packaging market in the coming years.
The global anti-counterfeit beverage packaging market is segmented on the basis
of technology and regions. On the basis of technology, the market is segmented
into authentication packaging technology and track and trace packaging
technology. The authentication technology segment is further sub-segmented into
ink & dyes, holograms, watermarks, and taggants. The track and trace
packaging technology segment is sub-segmented into barcode technology and RFID
technology.
On the basis of geography, the global anti-counterfeit beverage packaging
market is segmented into seven main regions, namely North America, Latin
America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, the
Middle East & Africa, and Japan. Due to large consumer awareness about the
technology and products, North America region is expected to hold the largest
share of the global anti-counterfeit beverage packaging market, followed by
Europe, in the coming years. The Asia-Pacific anti-counterfeit beverage
packaging market is also expected to grow at a significant rate over the
forecast period.
Some of the key players covered in this study on the global
anti-counterfeit beverage packaging market are Zebra Technologies, Alien
Technology Corp., AlpVision, Avery Dennison Corp., and SICPA HOLDING SA.
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