|Home>||Security||>Integrated Systems||>Report indicates continued growth for anti-counterfeiting packaging technologies|
|Home>||Security Matters||>Security Matters||>Report indicates continued growth for anti-counterfeiting packaging technologies|
Report indicates continued growth for anti-counterfeiting packaging technologies
16 April 2020
ACCORDING TO the International Hologram Manufacturers Association (IHMA), the new report entitled ‘Anti-Counterfeiting, Authentication and Verification Technologies’ signals the added expertise holography brings to the authentication of packaging products, while also indicating continued growth for anti-counterfeiting packaging technologies.
Coming at a time when international business is struggling to manage the impact of the Coronavirus pandemic, the trade body feels the report offers reassurance that the market for packaging authentication technologies will remain strong and robust for the next few years. The worldwide market for holograms is expected to grow by an estimated 27% over the next five years at time when the global anti-counterfeiting packaging market is expected to reach US$133,720 million by the end of 2026, with a CAGR in excess of 10% during 2021-2026.
Companies looking to protect their products against brand piracy and reduce the levels of counterfeiting are adopting advanced authentication and verification technologies. Technological innovation within the anti-counterfeiting, authentication and verification technologies market is a major factor contributing to the growth of the market, suggests the IHMA.
Counterfeiting is lucrative, but packaging featuring security devices can help to check the distribution and smuggling of illicit products, while items not displaying security holograms can be seized and destroyed by appropriate law enforcement authorities and agencies.
Broad range of threats
Commenting on the report, IHMA chairman Dr Paul Dunn said that, as brand owners face a broad range of threats, so suppliers are developing and adopting integrated platforms that allow brands to comprehensively address physical retail, supply chain and online threats.
“Digital solutions are a clear and growing addition to authentication solutions,” asserted Dunn. “Within the holographic industry, it’s the combination with packaging track and trace systems, among other solutions, that’s seen as the foreseeable future. In doing so, the opportunities for holograms to be at the forefront will drive sector growth.”
Dunn added: “Critically, the report indicates that the role of holograms as effective weapons in the frontline fight against counterfeiters and fraudsters will continue to enhance brand protection. All involved in the supply chain will be constantly reassured by the presence of holograms on products, duly recognising the myriad benefits they provide.”
The use of well-designed and properly deployed authentication solutions, as advocated by ISO 12931, 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.
- Government awards new funding to improve support for victims of terrorism
- Security Essen 2018 preview
- FBU members reject pay rise offer
- Rogue landlord fined for failings
- Post-prosecution fire safety improvements lead to praise for Camden Council
- Avon fire chiefs suspended following scathing report
- Police Federation welcomes harsher sentences for deliberate weaponising of Coronavirus
- Welsh firefighters to respond to flooding
- FSF focuses on government's Grenfell response
- FSM Live Conference - Limited tickets remain
- From the editor
- Blog for FSM website
- BT Redcare cashback offer
- SSAIB agrees training partnership with BT Redcare
- BT Redcare bolsters sales team
- Fire and Security Association names new chair
- Chain wrestling
- Intersec 2018 preview
- BSI revises security management guidelines
- Leading brands supporting new Security Event at NEC