Global Anti Counterfeit Market for Food and Pharmaceuticals Worth US$79.3 Billion by 2014
Counterfeiting was earlier a problem specific to developing countries of Africa and Asia. However, with the recent increase in parallel trading and internet pharmacies, the industry has also expanded in developed nations such as the U.S. and Europe. Counterfeit medicines in particular are on the increase.
- Dallas, TX (1888PressRelease) September 21, 2011 - Global Anti Counterfeit Market for Food and Pharmaceuticals Worth US$79.3 Billion by 2014
According to a new market research report, 'Global Anti Counterfeit market for Food and Pharmaceuticals (2009-2014)', published by MarketsandMarkets (www.marketsandmarkets.com), the global anti counterfeit market for food and pharmaceuticals market is expected to be worth US$79.3 billion by 2014, with an estimated CAGR of 8.6% from 2009 to 2014. The North American market is expected to account for nearly 62% of the total revenues.
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Increasing cases of counterfeiting have resulted in implementation of anti counterfeit technologies. Anti counterfeit technologies are of two types namely authentication packaging and track and trace packaging technologies. North America holds a major share of the global anti counterfeit market. Asia has the highest growth rate due to untapped market and significant level of counterfeiting. Europe has a lower growth rate due to a relatively lower number of cases of counterfeiting.
The global anti counterfeit packaging market is expected to be worth US$79.3 billion by 2014, growing at an estimated CAGR of 8.6% from 2009 to 2014. Bar code forms the largest market segment; and is expected to reach US$26 billion by 2014. However, as the bar code market is attaining maturity it is growing at a very low CAGR of 0.4% for the same period. RFID market has the highest growth potential and is expected to grow with a CAGR of 20.2% for the same period.
North America is the largest segment in the anti counterfeit market and is expected to reach US$49 billion by 2014, accounting for nearly 62% of the revenues growing at a CAGR of 6.8%. Asia is the second largest market and is expected to reach US$14 billion by 2014 with a highest CAGR of 19.7%
Scope of the Report
The report segments the anti counterfeiting market into segments according to major technologies.
Authentication technologies (Inks and dyes, holograms, watermarks, taggants)
Trace and track technologies (Labels, bar codes, RFIDs)
The market is also segmented according to application areas include the packaging industries:
Food products (dairy, meat, sea food, bakery, confectionery, convenience, and baby food)
Pharmaceuticals (generic drugs, prescription drugs, power boosters etc.)
The anti counterfeit market is also segmented on the basis of packaging levels:
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