RFID Gains Traction in Anti-counterfeit Cosmetic Packaging Market: Study
The anti-counterfeit cosmetic packaging market is anticipated to reach nearly US$ 50 Bn through 2027, according to a recently published study by ESOMAR-certified market research company Future Market Insights (FMI).
Anti Counterfeit Cosmetic Packaging Market
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As global cosmetic consumption rises, unscrupulous entities are looking to flood the market with counterfeit, duplicate and sub-standard product lines, damaging the credibility of prominent cosmetic manufacturers. Various instances of product recalls have been reported due to the presence of toxic ingredients.
To prevent this, companies are investing in advanced counterfeit and tamper-proof packaging solutions, incorporating a combination of smart and conventional technological enhancements. Special emphasis is laid on multifunctional packaging, widening growth prospects.
Key Takeaways from the Study
- Global anti-counterfeit packaging market to expand at nearly 9% value CAGR from 2020-2027
- Europe remains a lucrative market, Asia-Pacific expanding rapidly
- By packaging format, bottles to capture over 45% of global revenue share by 2027
- RFID detection to remain preferred anti-counterfeit packaging technology, registering a value CAGR of 9.5%
- PET plastics to be preferred packaging material choice during the forecast period
- High implementation costs may restrict growth, especially in small and medium scale enterprises
“Heightened awareness about safe packaging amongst consumers is prompting cosmetic companies to provide accurate product information, accelerating need for advanced packaging solutions,” says the FMI analyst.
COVID-19 Impact Analysis
The COVID-19 pandemic has altered consumer purchasing behaviour, with preference for contactless delivery taking precedence. Therefore, e-commerce channels are experiencing swelling business activity. This has sustained the demand for cosmetics across prominent geographies. This consistency in cosmetics sales is propelling the anti-counterfeit cosmetic packaging market.
Demand for skincare products has especially increased multi-fold, with consumers becoming highly cautious about their health. Striving to avoid contact with the virus, they are utilizing skincare products to prevent any kind of surface level infection. Therefore, anti-counterfeit solutions for skincare pharmaceuticals and cosmetics are witnessing enhanced uptake.
Market Structure Analysis
The global anti-counterfeit cosmetic packaging market is characterized by the presence of numerous regional and global level players. Some prominent players include Alien Technology Corp., Avery Dennison Corporation, CCL Industries Inc., Zebra Technologies Corporation, Honeywell International Inc. and OpSec Security Inc.
The aforementioned players rely on product launches and inclusion of advanced virtual technologies. Moreover, they also rely on strengthening regional distribution frameworks to penetrate lucrative markets.
In 2019, Alien Technology Corp. introduced the Higgs TM 9-inch memory IC, a next-generation RFID semiconductor integrated circuits. This device offers precise memory retention and read reliability under the most hostile conditions. Additionally, the system does not require additional input software.
In January 2020, CCL Industries Inc. acquired Ibertex Etiquetaje Industrial S.L.U. and Eti-Textil Maroc S.a.r.l. AU. The acquisition was worth approximately US$ 19.6 million. In March 2020, the company acquired Flexpol Sp. Z.o.o.
More recently, in June 2020, Fozzy Group, one of Ukraine’s largest grocery retailers, implemented Zebra Technology’s mobility solutions, including Android mobile touch computers, handheld scanners and software security.
More Valuable Insights on the Anti Counterfeit Cosmetic Packaging Market
Future Market Insights, in its new report, offers an unbiased analysis of the global anti counterfeit cosmetic packaging market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2027. The study reveals growth projections on the anti-counterfeit cosmetic packaging market on the basis of packaging format (bottles, jars, tubes, sachets, pumps & dispensers and others), technology (RFID, security ink & printing, security seals, hologram and mass encoding), material (glass, paperboard, metal and plastic) and application (skincare, haircare, fragrance and nail care) across five regions.
About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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