Expanding at a CAGR of 8.7%, the global anti-counterfeit cosmetic packaging market is projected to increase from a valuation of US$ 32.6 Bn in 2022 to US$ 49.5 Bn by 2027.
Expanding at a CAGR of 8.7%, the global anti-counterfeit cosmetic packaging market is projected to increase from a valuation of US$ 32.6 Bn in 2022 to US$ 49.5 Bn by 2027, according to a recently published study by ESOMAR-certified market research company Future Market Insights (FMI).
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
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“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.
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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 2021, 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 2022, 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 2022, the company acquired Flexpol Sp. Z.o.o.
More recently, in June 2022, 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.
Key Segments of Anti-counterfeit Cosmetic Packaging Industry Survey
Anti-counterfeit Cosmetic Packaging Market By Technology :
Anti-counterfeit Cosmetic Packaging Market By Packaging Format :
Anti-counterfeit Cosmetic Packaging Market By Material :
Anti-counterfeit Cosmetic Packaging Market By Application :
Anti-counterfeit Cosmetic Packaging Market By Region :
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About FMI Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
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Aug 10, 2022