The market is predicted to grow at a CAGR of 15.1 percent over the forecast period of 2016 to 2025. The revenue generated by the market is expected to increase from US$3.6 billion in 2016 to US$12.8 billion by 2025.
The major factors responsible for driving the market growth at a significant rate include stringent government and industry regulations, preclusion of counterfeit packaging, customer loyalty, and increased health awareness among consumers.
The market can be segmented on the basis of application and technologies, with applications further classified into the pharmaceutical industry and the food industry. The food application segment involves packaging using anti-counterfeiting techniques such as barcodes, holograms, and radio-frequency identification (RFID) for baby food, dairy products, packaged bakery, convenience food, packaged meat products, confectionery items, and packaged seafood. Anti-counterfeit packaging enables consumers to differentiate between branded products and counterfeits.
The authentication packaging technologies segment which include products such as taggants, holograms, watermarks, inks, and dyes are expected to show growth with a CAGR of 18.2 percent during the forecast period. The traceability technologies are widely used for tagging products that are susceptible to counterfeiting. They include barcodes and RFID tags. These traceable technologies held a market share of US$20.6 billion in 2016 and are expected to lead the market in terms of technologies.
In Asia Pacific, the anti-counterfeit packaging market in food and pharmaceuticals is expected to grow at a CAGR of 20.4 percent during the forecast period. This surge in growth observed in the Asian countries like China and India are majorly attributed to fast growing retail markets.