Anti-Counterfeit Countermeasures to Drive Packaging Technologies In 2015

Counterfeiting means imitating, generally one that is produced with the purpose to fraudulently sell off a product as genuine. Fraudulent practices have been stacking up in recent years, though the statistics cannot be validated, as counterfeit items are often impossible to monitor. Since copying is not substantiated, tracking it becomes realistically challenging.

Imitations are developed in different ways. The aim is to persuade the end-customers to believe he/she is purchasing a legitimate item, and many buyers are misled into trusting it. The bottom line is, they are investing in a product that looks authentic. High tech enterprises, pharmaceutical companies and industries producing luxury items are facing counterfeit problems. Counterfeiting occurs due to parts extinction; deficient inventory for an item’s design life; incapability to procure from an authorized source and dumping too much inventory without monitoring or traceability.

Lack of stringent anti-counterfeiting measures will continue to disturb businesses and result in huge losses. Luckily, there are an array of effective methods of implementing anti-counterfeiting measures. Some of them include the trademark system, penalties for counterfeit activities, RFID technologies and civil procedures. The major factor that catalyses the adoption of proven anti-counterfeit packaging technologies includes the demand for genuine items by government regulators, company investigators or typically the customers. Furthermore there is a growing necessity for restraining measures to run-in manufacturing units who second and are involved in malpractices. Anti-counterfeiting technologies facilitate food and beverage and pharmaceutical brands to adopt secure product packaging and adhere to government regulations. 

Last month, The Global Closure Systems invented an anti-counterfeit closure that has an in –built adroit tamper evidence ring. This ring immediately breaks, if someone attempts a forced removal from a bottle offering a permanent evidence – clearly visible by an end-customer. Philips has also been seen promoting its Anti-Counterfeit Xenon HID Pack to make sure consumers are buying genuine products. Recently a report published by Allied Market Research titled “Global Anti-CounterfeitPackaging Market in Security Documents and Event Ticketing - Industry Analysis, Size, Growth, Trends, Opportunities, and Forecast, 2014 – 2020” focuses on the major market strategies adopted by popular brands to curb counterfeiting activities.

To top it all, these aforesaid aspects have got several research analysts interested in the anti-counterfeit packaging technologies market. The anti-counterfeit packaging industry in 2013 was accounted for nearly $57.4 billion and is expected to soar up to $142.7 billion by the end of 2020. Besides, the aforementioned market would see a CAGR of 13.9% through 2013 – 2020. Major pharmaceutical brands have suffered approximately $514 billion in the year 2012 as a result of counterfeit activities for a wide range of non –prescribed medicines.

Lastly, with so much momentum across the world to combat malpractices, the future of anti-counterfeit packaging industry looks promising.

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