The global anti-counterfeit packaging market in food and pharmaceuticals is forecast to attain market value of $142.7 billion by 2020 from $57.4 billion in 2013, growing at 13.9% CAGR during 2013 to 2020, according to a new report by Allied Market Research titled « Anti-counterfeit Packaging Market in Food and Pharmaceuticals - Technologies, Applications and Global Forecast through 2020 ».
Technological advancements and government initiatives to curb counterfeiting is expected to drive the market growth. The global market for pharmaceutical and food anti-counterfeit packaging is braced by stringent government legislations assigned for specific regions.
Pharmaceutical drugs packaging market was valued for $33.7 billion in 2013 and is expected to grow at 13.2% CAGR during 2013-2020. Similarly, surge in demand for packaged food is luring counterfeiters to duplicate the food products. The anti-counterfeit market for packaged food products was valued at $23.7 billion in 2013, is forecast to grow at a CAGR of 14.8% during 2013-2020.
Increase in awareness for authenticating counterfeit products is reinforcing the anti-counterfeit packaging market. North America is highest revenue generator with $35.6 billion by 2015 and Asia-pacific region is forecast to be the fastest growing market at a CAGR of 15.5% during 2013-2020.
This report offers updated trends commercialized in anti-counterfeit packaging market by few key companies.
For more information: http://www.alliedmarketresearch.com/anti-counterfeit-market
Or visit http://www.researchandmarkets.com/research/r6zjhx/global