The authentication and brand protection market was valued at US$ 2,971.50 million in 2020 and is projected to reach US$ 5,322.57 million by 2028; it is expected to grow at a CAGR of 7.56% during 2020-2028.
The rise in product counterfeiting and forging over the years has steered the demand for the authentication and brand protection solutions. Further, the omnichannel retailing is supporting the overall authentication and brand protection market growth through its features such as efficient product allocation, enhanced inventory management, and real-time inventory visibility.
The authentication and brand protection market is segmented on the bases of type, technology, and application.Based on technology, the market is segmented into security printing & tamper proof labels, security inks & coatings, OVDS and holograms, unique codes, bar codes, RFID, authentication ICS, and others.
The bar codes segment is expected to hold the largest market share during the forecast period.Based on type, the authentication and brand protection market is segmented into overt, covert, forensic, and digital.
The overt segment is expected to hold the largest market share during the forecast period.Based on application, the authentication and brand protection market is segmented into consumer electronics, automotive, medical, chemical, food & beverage, tobacco, and others.
In 2020, the food & beverage segment accounted for a significant share in the market.
The pandemic COVID-19 has resulted in the disruption of commerce in North American countries, dur to shutdown of stores or operational limitations on the same.Retailers and brands are facing various short-term challenges regarding health and safety, supply chain, labor force, cash flow, consumer demand, and marketing.
In North America, stores started closing at the beginning of March, and this trend is expected to continue as cities and states battle to contain the spread of the virus.Furthermore, COVID-19 pandemic is rapidly accelerating the tradition of digital commerce.
As people are being told to follow social distancing, e-commerce orders for medicines and essential food & beverage have become a survival tool for the people in America.Further, the negative effect of the pandemic and measures take to manage it on various industries is limiting the authentication brand protection industry growth in the region.
Irrespective of this, rise in challenges faced in terms of counterfeit products, leading to the sabotaging of brand reputation, the companies, especially, the pharmaceutical and food & beverages players, are using brand protection technologies.
The overall 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 an overview and forecast of the authentication and brand protection market with respect to all the segments.It also provides the overview and forecast for the global market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Also, primary interviews were conducted with industry participants to validate data and gain more analytical insights into the topic. The participants of this process include 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.
A few major players operating in the global authentication and brand protection market are AlpVision SA; Authentic Vision; Applied DNA Sciences, Inc.; Eastman Kodak Company; De La Rue PLC; Authentix, Inc.; Avery Dennison Corporation; Centro Grafico dg S.p.A.; Giesecke + Devrient GmbH; 3M; and Arjo Solutions.
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