Unfortunately it is easier than it has ever been to design counterfeit packaging and this is what’s helping to drive the market for Anti-Counterfeit Packaging (ACP).
With increasing globalisation and online trading it is becoming more and more difficult to decipher if a product is genuine or made by unscrupulous manufacturers out to make a profit from the genuine company’s good name.
In response to this a range of technology is available to help firms protect their packaging and enable it to be identified as genuine. Holograms are one way to achieve this and they have been effective for some time not only in food packaging but also credit cards and other items requiring increased security.
As such, Holograms are set to maintain their position as the leading authentication technology with RFID technology closing the gap and showing faster growth up to 2020 according to forecasts.
Counterfeiting is not just hitting the products of food and beverage companies. There is also the very real health risks associated with food and beverage products that aren’t genuine.
According to Allied Market Research, the ACP market is set to grow at a compound annual growth Rate of 16.1% until 2020. This will make this huge market worth $62.5 billion by 2020.