International Hologram Manufacturers Association (IHMA) has announced that the recent industry report offers reassurance that the market for packaging authentication technologies will remain strong and robust for the next few years despite businesses currently struggling with the impact of Covid-19.
Coming at a time when international business is struggling with the impact of the coronavirus pandemic, the trade body says the report ‘Anti-counterfeiting, Authentication and Verification Technologies’ estimates the worldwide market for holograms is expected to grow by an estimated 27 percent over the next five years at time when the global anti-counterfeiting packaging market is expected to reach USD 133 billion by the end of 2026, with a CAGR in excess of 10 percent during 2021-2026.
The main driver behind the market growth are companies looking to protect their products against brand piracy and reduce the levels of counterfeiting by adopting advanced authentication and verification technologies. According to IHMA the technological innovation within the anti-counterfeiting, authentication and verification market is also one of the major factors contributing to the growth of the market.
‘Brand owners face a broad range of threats, suppliers are developing and adopting integrated platforms that allow brands to comprehensively address physical retail, supply-chain and online threats,’ commented Dr Paul Dunn, IHMA chairman. ‘Digital solutions are a clear and growing addition to authentication solutions, sometimes in isolation, but within the holographic industry it’s the combination with packaging track and trace systems among other solutions, that’s seen as the foreseeable future. In doing so, the opportunities for holograms to be at the forefront will drive sector growth.
‘Critically, the report indicates that the role of holograms as effective weapons in the frontline fight against counterfeiters and fraudsters will continue to enhance brand protection. All involved in the supply chain will be constantly reassured by the presence of holograms on products, recognizing the benefits they provide,’ concluded Dunn.
The use of well-designed and properly deployed authentication solutions, as advocated by the ISO 12931 standard, enables examiners to verify the authenticity of a legitimate product, differentiating it from fake products coming from counterfeiting hot spots in Asia and eastern Europe. Even those that carry a ‘fake’ authentication feature can be distinguished from the genuine item if that item carries a carefully thought-out authentication solution.
Post time: Nov-23-2020