An international trade body has welcomed a new report, which it says opens the way to ‘significant’ opportunity and growth for packaging holography technologies
The International Hologram Manufacturers Association (IHMA) was commenting on the Anti-Counterfeit Packaging Technologies Market* market research report.
According to the findings, the global anti-counterfeit packaging technologies market is set to expand with a double-digit compound annual growth rate (CAGR) in the next few years, reaching more than US$ 357 bn by 2026.
Growth in packaging anti-counterfeiting devices appears both ‘strong and potentially lucrative’, says the IHMA in the face of a report that reflects increasing incidences of global counterfeiting and growing sector awareness of tracing technologies.
The report recognises that North America leads the global anti-counterfeit packaging technologies market, accounting for more than 45 per cent of the total market value generated worldwide.
Asia Pacific is set to register the highest growth in the coming years, primarily due to the rise in healthcare concerns, higher adoption rates of anti-counterfeit technologies and growing awareness about tracking and tracing technologies.
Those involved in the packaging sector, including brand owners, converters, manufacturers, stockists and trade authorities, will benefit from the growing commercial collaborations identified in the report built around anti-counterfeit packaging technologies.
Counterfeiting is very lucrative and the IHMA wants to see increasing pressure applied by packagers to help stem the tidal wave of fake products flooding onto global markets.
Security devices on packaged goods can ensure quality and check the distribution and smuggling of illicit products, while items not displaying security holograms can be seized and destroyed.
Welcoming the report, IHMA chair Manoj Kochar added that people cannot afford to rest on their laurels when it comes to the war on counterfeiting.
“Holography has a key role as an effective, highly flexible weapon in the ongoing battle to thwart counterfeiters and fraudsters,” he said. “All involved in the supply will be reassured by the presence of holograms on products and recognise the benefits they provide.”
The use of well-designed and properly deployed authentication solutions, as advocated by the ISO 12931 standard, enables examiners to verify the authenticity of a legitimate product, differentiating it from fake products coming from counterfeiting hot spots in Asia and eastern Europe.
Even those that carry a ‘fake’ authentication feature can be distinguished from the genuine item if that item carries a carefully thought-out authentication solution.