Anti-counterfeiting market continues to grow

Globalisation is creating an increasingly complex, continuously growing supply chain, and counterfeiting has become a growing challenge. So it is critical for manufacturers to identify, capture and share accurate product information.

North America’s Association for Packaging and Processing Technologies (PMMI) has released its 2016 Brand Protection and Product Traceability Market Research report, which predicts that counterfeiting will increase 3% per year worldwide. This rise will lead to increased growth in the anti-counterfeiting market over the next five years, with CAGRs ranging from 12.8 to 16%.

According to the report, the growth of the global anti-counterfeiting market will outpace the overall combined market segment growth of food, beverage and pharmaceutical industries by roughly two to three times in the next five years.

“As this trend continues to increase on a global level, it is of paramount importance that all involved in the packaging and processing industry make continued efforts to maintain tracking control in order to prevent counterfeiting and aid in product recall,” said Paula Feldman, director, Business Intelligence, PMMI.

PMMI compiled the report from the insights of 75 brand manufacturers, industry experts and technology suppliers who shared their experiences complying with traceability regulations in the food, beverage and pharmaceutical industries.