Anti-Counterfeit Pharmaceuticals and Cosmetics Packaging Market
Number of pages: 100 | Report Format: PDF | Published date: January 27, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 95.94 billion |
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Revenue Forecast in 2030 |
US$ 188.6 billion |
|
CAGR |
7.8% |
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Base Year for Estimation |
2021 |
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Forecast Period |
2022-2030 |
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Historical Year |
2020 |
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Segments Covered |
Technology, Application, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global anti-counterfeit pharmaceuticals and cosmetics packaging market was valued at US$ 95.94 billion in 2021 and is expected to register a revenue CAGR of 7.8% to reach US$ 188.6 billion by 2030.
Anti-counterfeit Pharmaceuticals and Cosmetics Packaging Market Fundamentals
Counterfeit pharmaceuticals and cosmetics are a rising problem in the global marketplace. To combat this, several companies have implemented anti-counterfeit packaging solutions. Anti-counterfeit packaging refers to the usage of various security features on packaging to prevent or detect the production and distribution of counterfeit products. Counterfeiting of pharmaceuticals and cosmetics is a major problem, as it can put consumers at risk by providing them with fake or ineffective products.
Anti-counterfeiting measures are becoming increasingly important for pharmaceutical and cosmetic products as counterfeit versions of these products are becoming more and more common. To protect consumers from harm, it is essential that these products are properly labeled and that their packaging is secure. Several strategies can be used to ensure that a product is authentic and safe, including unique identifiers, tamper-evident seals, and holographic labels. Additionally, tracking and traceability systems, barcodes, and digital signatures can all be used to verify the authenticity of a product. These security features can be used to verify the authenticity of a product and protect consumers from counterfeit products. Using these measures, consumers can be sure they are purchasing genuine products.
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Anti-Counterfeit Pharmaceuticals and Cosmetics Packaging Market Dynamics
The growing number of medicine and cosmetics supply counterfeiting cases is a key factor driving demand opportunities in the global anti-counterfeit pharmaceuticals and cosmetics packaging market. Moreover, the market is being driven by the rapid expansion of the e-commerce industry, thereby raising the risks of counterfeit product sales. Furthermore, technological breakthroughs, such as blockchain, AI, and big data analytics, are expected to help in the delivery of more secure and advanced anti-counterfeiting solutions. This, in turn, is expected to fuel revenue growth opportunities in the global market.
Key businesses are investing in smart and technologically advanced anti-counterfeit systems. The increase in application industries, as well as the important presence of pharmaceuticals and cosmetics product makers, is propelling the expansion of the anti-counterfeit pharmaceuticals and cosmetics packaging market. Government regulations to support anti-counterfeiting activities propel the anti-counterfeit pharmaceutical and cosmetic packaging market revenue growth.
However, some of the anti-counterfeit pharmaceuticals and cosmetics packaging market is likely to experience sluggish revenue growth during the forecast period owing to the high cost of setup, difficulties in implementing anti-counterfeit technology, and limited acceptance in developing countries owing to a lack of technical assistance.
Anti-counterfeit Pharmaceuticals and Cosmetics Packaging Market Ecosystem
The global anti-counterfeit pharmaceuticals and cosmetics packaging market has been analyzed from three perspectives: technology, application, and region.
Anti-counterfeit Pharmaceuticals and Cosmetics Packaging Market by Technology
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Based on the technology, the global anti-counterfeit pharmaceuticals and cosmetics packaging market is segmented into authentication packaging technology and track and trace packaging technology.
The authentication packaging technology segment accounted for the principal market revenue share in 2021. The segment growth is ascribed to the ability of this technology to provide enhanced security, improved user experience, and cost savings. Companies are investing in authentication packaging technology to create more secure, cost-effective, and user-friendly products. Authentication packaging technology can help reduce the cost of production, increase the speed of product delivery, and provide improved customer service. Companies are also using authentication packaging technology to create secure and personalized products tailored to their customers' needs.
The authentication packaging technology market is further sub-segmented into holograms, watermarks, taggants, and QR codes. Among these, QR codes are the most popular, primarily due to the rise in the e-commerce business in recent years. QR codes are two-dimensional barcodes that can be scanned with a smartphone and provide key information, such as product origin, authenticity, and expiration date. These factors contribute to the overall growth of the authentication packaging technology segment.
Rapid expansion of the e-commerce industry has resulted in increase in the focus of enterprises to guarantee that their products are safely monitored and traced along the whole supply chain. This factor is projected to create significant revenue growth opportunities in the track and trace packaging technology segment during the forecast period.
Anti-counterfeit Pharmaceuticals and Cosmetics Packaging Market by Application
Based on the application, the global anti-counterfeit pharmaceuticals and cosmetics packaging market is segmented into cosmetic & personal care and pharmaceuticals.
The cosmetic & personal care segment accounted for the largest market share in 2021, owing to an increase in the need for anti-counterfeit packaging in the cosmetics business. Furthermore, increase in awareness about personal grooming has resulted in a rise in the demand for cosmetics and skin care products. Anti-counterfeit packaging is generally utilized in cosmetics items to ensure brand validity and safeguard customers from purchasing counterfeit or duplicate products. This factor is expected to have a positive impact on the revenue growth of the segment during the forecast period.
Anti-counterfeit Pharmaceuticals and Cosmetics Packaging Market by Region
Based on the region, the global anti-counterfeit pharmaceuticals and cosmetics packaging market is segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America dominated the global anti-counterfeit pharmaceuticals and cosmetics packaging market in 2021, due to the increasing demand for safer and more secure products in the region. The growing e-commerce market in North America has fueled the distribution of counterfeit products, leading to an increased need for anti-counterfeit packaging solutions. The U.S. is home to the majority of the world’s leading technology companies, which are engaged in the development of new and advanced anti-counterfeit packaging solutions, such as RFID tags, digital watermarks, and blockchain technology. Additionally, companies from this region are consistently investing in R&D activities to develop advanced packaging technologies. For instance, artificial intelligence has been largely used in anti-counterfeit packaging, such as image analysis, as it helps analyze the images of products and compare them with the original ones. Predictive modeling, such as AI algorithms, can predict when and where counterfeits are likely to appear, allowing companies to take proactive measures to prevent them. These aspects are expected to propel the overall growth of the region’s anti-counterfeit pharmaceuticals and cosmetics packaging market.
Anti-counterfeit Pharmaceuticals and Cosmetics Packaging Market Competitive Landscape
The prominent players operating in the global anti-counterfeit pharmaceuticals and cosmetics packaging market are:
Anti-counterfeit Pharmaceuticals and Cosmetics Packaging Market Strategic Developments
The anti-counterfeit pharmaceuticals and cosmetics packaging industry is expected to be valued at 188.6 billion by 2030.
The anti-counterfeit pharmaceuticals and cosmetics packaging market is expected to register a revenue CAGR of 7.8% during the forecast period from 2022 to 2030.
The growing number of medicine and cosmetics supply counterfeiting cases, expansion of the e-commerce business, and technological advancements in anti-counterfeit systems are driving the market revenue growth.
The authentication packaging technology segment dominates the anti-counterfeit pharmaceuticals and cosmetics packaging market.
Alien Technology, CCL Industries, Honeywell International Inc., NanoMatriX International Limited, and AlpVision are among the prominent players in the global market.
*Insights on financial performance are subject to the availability of information in the public domain