BANGALORE, India, April 17, 2024 /PRNewswire/ -- Anti-Counterfeit Pharmaceuticals and Cosmetics Packaging Market is Segmented by Technology (Authentication Packaging Technology, Track and Trace Packaging Technology), by Application (Cosmetics and Personal Care, Pharmaceutical)
The Global Anti-Counterfeit Pharmaceuticals and Cosmetics Packaging Market was valued at USD 81.1 Billion in 2020, and is projected to reach USD 182.3 Billion by 2030, growing at a CAGR of 8.4% from 2021 to 2030.
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Major Factors Driving the Growth of Anti Counterfeit Pharmaceuticals and Cosmetics Packaging Market
The growing global problem of counterfeiting, which endangers consumers' health and safety and costs companies a lot of money, is driving the expansion of the anti-counterfeit pharmaceutical and cosmetics packaging industry. Global governments and regulatory agencies are enforcing strict laws requiring improved security measures in packaging to guarantee product legitimacy. Technologies for authenticating packaging, such as polyimide coatings that make it easier to integrate holograms, color-shifting inks, and security graphics, are being used more and more in this context
Technologies for authenticating packaging, such as polyimide coatings that make it easier to integrate holograms, color-shifting inks, and security graphics, are being used more and more in this context
By guaranteeing that only authentic items reach the market, these technologies contribute to consumer protection while also preserving brand integrity and customer confidence.
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TRENDS INFLUENCING THE GROWTH OF ANTI COUNTERFEIT PHARMACEUTICALS AND COSMETICS PACKAGING MARKET
The global rise in counterfeit goods is the main factor driving the market for anti-counterfeit pharmaceutical and cosmetic packaging. In addition to posing serious dangers to the health and safety of consumers, counterfeit cosmetics and medicines cause firms to suffer large financial losses. Businesses have invested in cutting-edge anti-counterfeit technologies because they need to safeguard customers and maintain the integrity of their brands. Strict laws and regulations are being implemented by government and regulatory entities worldwide in an effort to stop the spread of counterfeit goods. The need for efficient anti-counterfeit packaging solutions is fueled by these rules, which frequently force pharmaceutical and cosmetics industries to implement secure packaging technologies that guarantee product authenticity and customer safety
The need for efficient anti-counterfeit packaging solutions is fueled by these rules, which frequently force pharmaceutical and cosmetics industries to implement secure packaging technologies that guarantee product authenticity and customer safety
Anti-counterfeit packaging must include authentication methods. These technologies include hard-to-replicate security graphics, color-shifting inks, and holograms. Because of its longevity and adaptability, polyimide coatings are being utilized more often in these kinds of applications, allowing for the permanent and legible stamping of authentication characteristics on the packaging of medications and cosmetics.
Throughout the supply chain, track and trace technologies are crucial for confirming the legitimacy and provenance of goods. This technique makes it possible to apply barcodes, QR codes, and other digital markers that can be scanned to track the movement and origin of objects seamlessly when combined with polyimide coatings. This aids in effectively handling recalls as well as the fight against counterfeit.
Customers are becoming more conscious of the health hazards connected to fake medications and cosmetics. The desire for goods with confirmed authenticity is fueled by this awareness. As a result of consumers' growing need for packaging that ensures product safety, producers are being compelled to implement advanced anti-counterfeiting technology.
Beyond only causing instant financial loss, counterfeiting may permanently harm a brand's reputation and undermine consumer trust. By guaranteeing that customers receive authentic items, anti-counterfeit packaging not only protects income but also helps to retain brand image and customer loyalty. Digital and mobile technologies are being integrated with anti-counterfeit packaging solutions to give businesses and customers rapid product authentication.
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ANTI COUNTERFEIT PHARMACEUTICALS AND COSMETICS PACKAGING MARKET SHARE
Over the course of the projection period, the anti-counterfeit pharmaceuticals and cosmetics packaging market is expected to develop at the highest CAGR of 10.2%, accounting for 20% of the market share in 2020. The market for anti-counterfeit cosmetics and pharmaceutical packaging is growing at a quicker rate in Asian nations. Pharmaceutical firms are encouraged to embrace authentication and track and trace technologies due to their emerging nature. For instance, Shiseido of Japan started certifying their range of beauty products for Asian internet sales. The business employs unique packaging to help customers and merchants distinguish between real and phony items in their collection
The business employs unique packaging to help customers and merchants distinguish between real and phony items in their collection
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Source prnewswire