Report : Asia Pacific Authentication and Brand Protection Market Forecast to 2030 – Regional Analysis – by Component (Overt, Covert, Forensic, and Digital), Technology (Security Printing & Tamper Proof Labels, Security Inks & Coatings, OVDS and Holograms, Unique Codes, Bar Codes, RFID, Authentication ICs, and Others), and Application (Consumer Electronics, Automotive, Medical, Chemical, Food & Beverage, Tobacco, and Others)
At 11.0% CAGR, the Asia Pacific Authentication and Brand Protection Market is Speculated to be worth US$ 2,127.97 million by 2030, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific authentication and brand protection market was valued at US$ 924.07 million in 2022 and is expected to reach US$ 2,127.97 million by 2030, registering a CAGR of 11.0% from 2022 to 2030. Accentuating demand for genuine products, growing concerns over duplicate consumer electronics products and automotive components and focus of governments on implementation of stringent anti-counterfeiting regulations are the critical factors attributed to the Asia Pacific authentication and brand protection market expansion.
Blockchain technologies enhance the efficiency, transparency, and security of global supply chains. They can help prevent product duplication and enable real-time tracking of authentic products. Although this technology is projected to have a significant and positive impact on the authentication and brand protection market, it is still in the initial stage of development. Further, strategic alliances between market players and technology providers offer massive growth opportunities in the market. In December 2019, Authentic Vision collaborated with IBM Research to combat product counterfeiting. The company integrated its real-time authentication, holographic fingerprinting, and analytics platform with IBM's blockchain and crypto anchor technology, resulting in a triple-layer solution to authenticate products. The embedded crypto anchors ensure the protection of physical assets by using their cryptographic mechanisms for identifying genuine products. The physical links to a unique digitally stored identifier cannot be removed, tampered with, or modified without damaging the physical anchor or object or leaving behind visible tampering signs. Counterfeiting of luxury products has become a foremost concern for consumers worldwide in recent years as it may lead to injuries to consumers, potential lawsuits against manufacturers, loss of revenue, and damage to the reputations of stakeholders. Counterfeit products can spread vigorously across countries because of a lack of transparency in distribution and manufacturing processes. With the rising awareness about blockchain technologies, numerous companies are exploring its use in supply chains to maintain transparency. Blockchain technology-powered platforms are being used to provide customized tools for tackling counterfeiting. Various companies use smart tags—such as QR codes, radio frequency identification tags, and metallic or ceramic surface signatures—to enable their products with blockchain technology. In January 2023, Acviss Technologies, an Indian software company, launched a new-age anti-counterfeiting traceability app integrated with blockchain technology for the Coffee Board of India. This new application is designed to shield coffee production from counterfeiting. Such developments indicate that authentication and brand protection technologies are also gaining momentum in the Food & Beverage sector. Wine is one of the products susceptible to fraud, and industry experts are utilizing permissible blockchain with peer-to-peer networks as a decentralizing communication model to counter the related risks. Packaged wines are digitally protected by embedding a thin plastic layer marked with serial code to avoid tampering while connecting the bottle and the blockchain. Thus, brands can reinforce their market presence and brand image with the use of such advanced technologies.
On the contrary, counterfeiting of authentication labelling hurdles the growth of Asia Pacific authentication and brand protection market.
Based on component, the Asia Pacific authentication and brand protection market is categorized into overt, covert, forensic, and digital. The overt segment held 43.0% market share in 2022, amassing US$ 397.51 million. It is projected to garner US$ 842.87 million by 2030 to expand at 9.9% CAGR during 2022–2030.
Based on technology, the Asia Pacific authentication and brand protection market is categorized into security printing & tamper proof labels, security inks & coatings, OVDS and holograms, unique codes, bar codes, RFID, authentication ICS, and others. The bar codes segment held 32.8% share of Asia Pacific authentication and brand protection market in 2022, amassing US$ 302.73 million. It is projected to garner US$ 602.67 million by 2030 to expand at 9.0% CAGR during 2022–2030.
Based on application, the Asia Pacific authentication and brand protection market is categorized into consumer electronics, automotive, medical, chemical, food & beverage, tobacco, and others. The food & beverage segment held 27.8% share of Asia Pacific authentication and brand protection market in 2022, amassing US$ 257.04 million. It is projected to garner US$ 541.81 million by 2030 to expand at 9.8% CAGR during 2022–2030.
Based on country, the Asia Pacific authentication and brand protection market has been categorized into China, India, Japan, Australia, South Korea, Taiwan, and the Rest of Asia Pacific. Our regional analysis states that China captured 35.5% share of Asia Pacific authentication and brand protection market in 2022. It was assessed at US$ 328.30 million in 2022 and is likely to hit US$ 824.88 million by 2030, exhibiting a CAGR of 12.2% during 2022–2030.
Key players operating in the Asia Pacific authentication and brand protection market are 3M Co, Alpvision SA, Applied DNA Sciences, Authentix, Avery Dennison Corporation, De La Rue Plc, Eastman Kodak Co, and Giesecke Devrient GmbH, among others.
- In Sep 2023, Applied DNA partnered with ITW Pillar Technologies to introduce the CertainT Platform into the textile industry.
- In May 2018, Kodak announced the availability of the Kodak Traceless Anywhere System for anticounterfeiting.
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