The APAC authentication and brand protection market is expected to grow from US$ 737.00 million in 2019 to US$ 1443.87 million by 2027; it is estimated to grow at a CAGR of 9.1% from 2020 to 2027.
In addition to the medical device and pharmaceuticals industries, the food & beverages industry is concerned about the growing market of duplicate products. In the 21st century, the demand for packaged foods is on the rise, and several companies have emerged as suppliers of packaged foods. This has led to a rise in the number of fake and unauthenticated packaged foodstuffs. The growing volume of duplicate food products has led the Food and Drug Administration (FDA) of several countries to impose stringent laws for the production of authenticated packaged foods. This has resulted in the greater adoption of product authentication labels among the packaged food producers. Moreover, the manufacturers of alcohol and soft drinks are also opting for authentication labels. The demand for soft drinks and alcohol is at a constant rise, and these products are easy to duplicate. With an objective to adhere to the regulations set by the governing authorities, offer genuine products, and protect their brand names, the manufacturers are increasingly procuring overt or covert labels, which is throttling the authentication and brand protection market in APAC. As the integrated solutions are now developing at an increasing rate, it is expected to boost the demand for authentication and brand protection products in APAC.
The overt segment led the APAC authentication and brand protection market, based on type, in 2019. The overt authentication and brand protection are visible to the naked eye, and allows consumers, inspectors, and government agencies to identify the package's authenticity quickly. A common practice for an advanced, multi-layered protection plan involves combining strong overt security elements with covert or tracking safety technologies. The visible security features in the authentication stack serve a valuable purpose. They allow individuals to inspect packaging without any special tools, and the specialized color-shifting inks are often difficult to reproduce using scanners or reprographic methods, which eventually drives the APAC authentication and brand protection market.
The active COVID 19 pandemic has slowed down the growth of the authentication and brand protection market in countries such as China and India. The majority of the countries have imposed lockdowns and restricted traveling, causing the industries to face a severe impact on production as a result of less labor footfall.
The overall APAC authentication and brand protection market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the APAC authentication and brand protection market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the APAC authentication and brand protection market. The key market players operating in this region include AlpVision SA; Applied DNA Sciences Inc.; Eastman Kodak Company; De La Rue PLC; Avery Dennison Corporation; 3M; and Arjo Solutions.