Report reassures growth for packaging holography, says trade body
An international merchandise body says the latest industry reports indicate continued growth for anti-counterfeiting packaging technologies. According to the International Hologram Manufacturers Association (IHMA), the 'Anti-counterfeiting, Authentication and Verification Technologies' report signals the added expertise holography brings to the authentication of packaging products.
Coming at a time when international business is struggling with the bear on of the coronavirus pandemic, the trade body says the report offers reassurance that the market place for packaging authentication technologies will remain potent and robust for the next few years.
The worldwide market for holograms is expected to grow past an estimated 27% over the adjacent five years at a time when the global anti-counterfeiting packaging market is expected to reach US$ 133720 million (approximately Rs 10 lakh crore) by the end of 2026, with a CAGR above 10% during 2022 to 2026.
Companies looking to protect their products against brand piracy and reduce the levels of counterfeiting are adopting advanced authentication and verification technologies. Moreover, technological innovation within the anti-counterfeiting, authentication and verification technologies market is a major gene contributing to the growth of the market, says the IHMA.
Counterfeiting is lucrative, but packaging featuring security devices can help to check the distribution and smuggling of illicit products. In contrast, items not displaying security holograms tin can be seized and destroyed past advisable law enforcement government and agencies.
Commenting on the report, IHMA chair Paul Dunn said as brand owners face up a wide range of threats, suppliers are developing and adopting integrated platforms that allow brands to address physical retail, supply-chain and online threats comprehensively.
"Digital solutions are a clear and growing addition to authentication solutions, sometimes in isolation, simply within the holographic industry it'due south the combination with packaging track and trace systems amid other solutions, that's seen as the foreseeable futurity. In doing so, the opportunities for holograms to exist at the forefront will drive sector growth.
"Critically, the study indicates that the role of holograms as constructive weapons in the frontline fight confronting 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."
The utilize of well-designed and properly deployed authentication solutions, as advocated by the ISO 12931 standard, enables examiners to verify the actuality of a legitimate product, differentiating information technology from fake products coming from counterfeiting hot spots in Asia and eastern Europe. Even those that bear a 'fake' hallmark feature tin can exist distinguished from the genuine item if that detail carries a carefully thought-out authentication solution.
The article is issued on behalf of the IHMA by Mitchell Halton Watson
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Source: https://packagingsouthasia.com/supply-chain-function/brand-security/report-reassures-growth-for-packaging-holography-says-trade-body/
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