Brand Protection Market to Double
Scan the QR Code to Verify Authenticity of ELFBAR Products
The global authentication and brand protection market will reach $6.68 billion by 2030 from $3.34 billion in 2022, reflecting a compound annual growth rate (CAGR) of 9 percent, according to a new report from The Insight Partners.
The anticipated growth is driven by the emergence of new counterfeit and product-forging mechanisms, which has increased demand for stronger brand security measures.
In addition, the rise of omnichannel retailing systems benefits the authentication and brand protection market. These retailing systems feature efficient product allocation, better inventory management and real-time inventory visibility.
North America dominated the authentication and brand protection market in 2022 and is anticipated to have significant growth in the forecasted period. The report’s authors expect the Asia-Pacific market to grow at the fastest CAGR during the projected period.
The authentication and brand protection market is segmented into overt, covert, forensics and digital. In 2022, the covert segment held a larger share of the global authentication and brand protection market. Covert authentication and brand protection is a safety marker that is invisible to the naked eye, often printed on primary and secondary packaging with security inks. Additional forensic safety layers are also embedded in the materials and can be confirmed by more extensive lab analysis. This extra security layer proves to be very difficult for the counterfeiter but is easily verified by field inspectors.
Based on technology, the market is segmented into security printing and tamper-proof labels, security inks and coatings, OVDs and holograms, unique codes, bar codes, RFID, authentication ICs, and others. The bar codes segment held the largest share in the authentication and brand protection market in 2022. In addition, the authentication ICs segment is expected to register the highest CAGR during 2022–2030. Authentication ICs are typically mounted on a printed circuit board. They don’t have any contactless capabilities yet, but they are developing. Inclusion of contactless will add to the growth potential of this market as it will allow the use of authentication ICs in more (nonelectronic) applications and products and form factors such as tags and stickers.
