The value of the global anti-counterfeit packaging market in food and pharmaceuticals stood at $57.4 billion in the year 2013; however, the report forecasts it to reach $142.7 billion by 2020.
Portland, OR -- (ReleaseWire) -- 07/07/2014 --Allied Market Research publishes a report titled "Anti-counterfeit Packaging Market in Food and Pharmaceuticals - Technologies, Applications and Global Forecast through 2020."
The value of the global anti-counterfeit packaging market in food and pharmaceuticals stood at $57.4 billion in the year 2013; however, the report forecasts it to reach $142.7 billion by 2020. Government support and advancements in technologies would contribute majorly towards the market.
"Counterfeiting practices are rising for food and pharmaceutical products due to globalization of retail sector and dilution of supply chain. Anti-counterfeit packaging market in track and trace technology for product tracking is growing and expected to mature in next few years. Emergence of E-pedigree applications in pharmaceutical is changing the application of RFID technology from real time tracking to real time managing" state Allied Market Research analysts Debbie Shields and Roshan Deshmukh.
To view the Complete Report visit: http://www.alliedmarketresearch.com/anti-counterfeit-market
To retain customers and reduce the losses, which result from counterfeiting, numerous organizations are adopting anti-counterfeit techniques. Usually, low-priced food and drugs are most prone to counterfeiting due to lower risk of penalties. Anti-counterfeit packaging is utilized in counter and prescription based drugs. Occurrences of counterfeiting activities involving drugs that are purchased over the internet can be reduced with the use of RFID technology.
Anti-counterfeit packaging is predominantly utilized in areas such as pharmaceutical drugs, food products, electronic products, apparels, etc. Ultra High Frequency RFID engineering has teamed up with E-pedigree to offer real time tracking throughout inventory network. Pharmaceutical drugs packaging segment is anticipated to register a CAGR of 13.2% during 2013-2020. Similarly, surge in demand for packaged food is luring counterfeiters to duplicate the food products. The packaged food market is expected to grow with a CAGR of 14.8% during 2013-2020.
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In terms of geography, anti-counterfeit packaging technology is commonly found in developed nations, as these nations frequently suffer the consequences of duplicate products, especially in the pharmaceutical, apparels and food industry. North America is expected to generate the maximum revenue with $35.6 billion by 2015; although the Asia-pacific region would grow rapidly during the same period, registering a CAGR of 15.5%.
Some of the key companies analyzed in the report are Alien Technology Corp., Alpvision, Intermec, Zebra Technologies, Inksure Technologies, Holostik, Hologram Industries, Datamax Corp., Avery Dennison and Flint Group.
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