The authentication and brand protection market is projected to grow from $2.5 billion in 2021 to $3.7 billion by 2026, growing at a CAGR of 8.3%from 2021 to 2026, according to MarketsandMarkets.
The key factors fueling the growth of the market include increasing focus on safeguarding product and brand integrity, and stringent anti-counterfeiting laws and regulations enforced by governments.
Additionally, increasing demand from emerging economies in APAC is expected to create an opportunity for authentication and brand protection market.
The overt segment is projected to account for the largest share
The overt brand protection solutions can be used for both investigative and consumer validation of product authenticity. Some of the overt authentication offerings are holograms, complex security printing, and embossed optical films. Additionally, overt technology-based authentication and brand protection solutions have decorative appeal and are relatively cheap.
The market for RFID authentication and brand protection to reach highest CAGR
RFID tags are becoming popular tools for the identification of products.
By using RFID, products can be traced in seconds using electromagnetic fields to automatically identify and track tags attached to objects. Thus, RFID helps to improve and track the supply chain process, from production through distribution and retailing.
The pharmaceutical application expected to grow at the highest CAGR
The COVID-19 pandemic has boosted the growth of the pharmaceuticals industry worldwide.
Additionally, the growth of the segment can be attributed to government regulations in various countries mandating the use of anti-counterfeit technologies in pharmaceutical products.
APAC held the largest share of the authentication and brand protection market
Economic growth and expansion of the manufacturing industry in the region have significantly impacted the demand for authentication and brand protection.
Additionally, the adoption of authentication and brand protection solutions across industries such as pharmaceuticals, automotive, food & beverages, electronics, and luxury goods is expected to increase in APAC during the forecast period. Growing awareness about authentication and brand protection technologies among companies is generating demand for such solutions.
The pharmaceuticals industry is expected to witness the fastest growth in China, India, and other countries in the APAC region globally due to the presence of both young and aging population.
Additionally, rapid urbanization and the growth of other key end-use industries are factors that are projected to reflect positively on the growth of the authentication and brand protection market during the forecast period.
The key players operating in the authentication and brand protection market include Authentix (US), Avery Dennison (US), Brady (US), De La Reu (UK), Wisekey (Switzerland), Infineon (Germany), Merck Group (Germany), Assa Abloy (Sweden), Centro Grafico (Italy), and Sunchemicals (US).