Report : South & Central America 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 8.9% CAGR, the South & Central America Authentication and Brand Protection Market is Speculated to be worth US$ 217.25 million by 2030, says Business Market Insights
According to Business Market Insights’ research, the South & Central America authentication and brand protection market was valued at US$ 109.70 million in 2022 and is expected to reach US$ 217.25 million by 2030, registering a CAGR of 8.9% 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 South & Central America authentication and brand protection market expansion.
Unauthorized copies of products adversely impact consumers, businesses, and governments. Due to this, companies are less likely to invest in product innovation, which leads to colossal government revenue losses from customs duty and import taxes. Developing economies are also adopting anti-counterfeiting solutions to counter these losses, triggering the demand for authentication and brand protection solutions and services in these countries. The grave risk of counterfeiting in these markets is further expected to boost the demand for authenticated solutions in the coming years. Thus, the continuously rising demand for authentication and brand protection products in developing countries owing to the heightened risk of counterfeiting, spanning many industries, is expected to boost the overall market during the forecast period.
On the contrary, counterfeiting of authentication labelling hurdles the growth of South & Central America authentication and brand protection market.
Based on component, the South & Central America authentication and brand protection market is categorized into overt, covert, forensic, and digital. The overt segment held 52.0% market share in 2022, amassing US$ 57.02 million. It is projected to garner US$ 104.91 million by 2030 to expand at 7.9% CAGR during 2022–2030.
Based on technology, the South & Central America 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 39.6% share of South & Central America authentication and brand protection market in 2022, amassing US$ 43.40 million. It is projected to garner US$ 79.74 million by 2030 to expand at 7.9% CAGR during 2022–2030.
Based on application, the South & Central America authentication and brand protection market is categorized into consumer electronics, automotive, medical, chemical, food & beverage, tobacco, and others. The food & beverage segment held 32.9% share of South & Central America authentication and brand protection market in 2022, amassing US$ 36.12 million. It is projected to garner US$ 65.41 million by 2030 to expand at 7.7% CAGR during 2022–2030.
Based on country, the South & Central America authentication and brand protection market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 56.6% share of South & Central America authentication and brand protection market in 2022. It was assessed at US$ 62.06 million in 2022 and is likely to hit US$ 130.06 million by 2030, exhibiting a CAGR of 9.7% during 2022–2030.
Key players operating in the South & Central America authentication and brand protection market are 3M Co, Authentix, Avery Dennison Corporation, De La Rue Plc, Eastman Kodak Co, and Giesecke Devrient GmbH, among others.
- In Jan 2021, The Holographic Fingerprint label of Authentic Vision boosts the security of mobile banking applications.
- In Aug 2022, New anti-counterfeiting authentication solution launched by Giesecke + Devrient.
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