authentication and brand protection Market

The authentication and brand protection market size is projected to grow from US$ 3,340.44 million in 2022 to US$ 6,680.28 million by 2030; the market is estimated to record a CAGR of 9.0% from 2022 to 2030.

Brand protection entails deploying processes, technologies, services, and resources to counter misleading, illicit, or fake representations of products or services. In addition to the continuous expansion of the manufacturing sector, the emphasis on safeguarding brand and product integrity, enactment of stringent anti-counterfeiting standards, and regulations enforced by government agencies favor the authentication and brand protection market growth. With the rising vulnerability to counterfeit attacks, diversions, and tampering problems, a large number of brand owners are facing the obligation of addressing these issues to protect their business interests. While working on a robust product authentication plan, they are focusing on establishing a comprehensive brand protection program involving legal marketing entities, law enforcement, customs, and investigation.

Different ministries are collaborating with various authentication and brand protection market vendors to develop authentication and brand protection solutions. For instance, In March 2022, Authentix announced contracts with the Republic of Congo's Ministry of International Cooperation and Promotion of Public-Private Partnership to implement two national marketplace governance programs to prevent the prohibited trade of packaged consumer products and retail fuels. Preventing illegal trading in both markets will help ensure citizens receive genuine products while boosting excise tax revenue through compliance protocols. The authentication and brand protection market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). North America secured the largest market share in 2022. The visibility of US-manufactured products across countries is high, which triggers the demand for brand protection and authentication products in this country. Manufacturers across industries in the US spend substantial amounts to protect the privacy and valuation of their respective products, services, and investments.

Counterfeiting of luxury products has become a foremost concern for consumers worldwide in recent years as it may lead to injuries to consumers, potential lawsuits against manufacturers, loss of revenue, and damage to the reputations of stakeholders. Counterfeit products can spread vigorously across geographies because of a lack of transparency in distribution and manufacturing processes. With the rising awareness about blockchain technologies, numerous companies are exploring its use in supply chains to maintain transparency. Blockchain technology-powered platforms are being used to provide customized tools for tackling counterfeiting. Various companies use smart tags-such as QR codes, radio frequency identification tags, and metallic or ceramic surface signatures-to enable their products with blockchain technology.

The authentication and brand protection market is segmented on the basis of type, technology, and application. By component, the authentication and brand protection market are segmented into overt, covert, forensic, and digital. based on technology, the global authentication and brand protection market is segmented into security printing &, tamper-proof labels, security inks & coatings, OVDs and holograms, unique codes, bar codes, RFID, authentication ICS, and others. based on application, the global authentication and brand protection market is classified into medical, automotive, food & beverage, chemical, consumer electronics, tobacco, and others. by region, the authentication and brand protection market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Avery Dennison Corporation; Authentic Vision; AlpVision SA; Applied DNA Sciences; and Giesecke+Devrient are among the key players operating in the Authentication and Brand Protection market that are profiled in this market study.

The overall Authentication and Brand Protection market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Authentication and Brand Protection market. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts 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 Authentication and Brand Protection market.