Counterfeit products are a growing problem for businesses all over the world, resulting in huge economic losses and even possible harm to consumers. The effects of counterfeiting are felt in a variety of industries like pharmaceutical, food, beauty, technology, among others.
According to the Anti-Counterfeiting Packaging Market report from Markets and Markets Research:
- The global anti-counterfeit packaging market was estimated at USD $107.26 billion in 2016 and is projected to reach USD $206.57 billion by 2021.
- The food and beverages market are estimated to be the fastest-growing segment during the forecast period (2016–2026). The primary reason behind the high demand for anti-counterfeit packaging in the food and beverage industry is due to growing demand for packaged and branded products.
- Asia-Pacific is projected to account for the largest share in anti-counterfeit packaging market in 2021 due to their growing economies and increasing awareness about counterfeit products.
One of the first steps brand owners can take towards protecting their brand and protect is learning about various anti-counterfeiting techniques so they can find a solution that will work best for them. Examples of anti-counterfeit techniques:
- Barcodes & 2D Barcodes
- Embedded Holographic images
- RFID Tags
Pragmatyxs has the experience in leach of these areas. Please contact us with any questions or that you have on these concerns.