The anti-counterfeit pharmaceutical and cosmetics packaging market is projected to grow at a compound annual growth rate of 15.7 percent during 2015-2020, according to a new report by US research firm, Allied Market Research.
The report predicts that hologram authentication technology, which accounted for a 52 percent market share in 2014, will continue to lead the market over the forecast period. Researchers see the popularity of such technology as a result of the wide variety of hologram authentication products on the market and their low price.
Electronic pedigree (ePedigree) authentication technology is expected to be the fastest growing segment in the anti-counterfeit technologies market, estimated to register a CAGR of 21.5 per cent over the forecast period.
Authentication packaging technologies led the market in 2014 and are expected to become increasingly popular. However, growing adoption of track and trace technologies, such as RFID, Barcode and electronic pedigree (ePedigree), in product tracking and inventory management authentication technology segment by 2020, according to the report.