Anti-counterfeit Beverage Packaging Market – Global Industry Analysis, Growth, Trends, and Forecast 2016 – 2024
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.
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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.
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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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