Global Authentication and Brand Protection Market (by Application, Technology & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)
- Published: 23rd Sep 2023
- Pages: 145
- Format : Pdf
Market Insight:
Authentication and Brand Protection is a business that protects and saves brands while also maintaining their originality and gaining client support. The biggest challenges that small and large companies confront as a result of rising digitization are authentication and brand protection. These methods are used to ensure that counterfeiters cannot infringe on intellectual property or copy the items, hence maintaining customer confidence and brand reputation.
To counteract counterfeits and promote confidence, authentication and trademark protection technologies are deployed. Economic growth and manufacturing industry expansion are expected to promote the use of authentication and trademark protection solutions in a variety of industries, including pharmaceuticals, automobiles, food and drinks, electronics, and so on. Moreover, the growing number of counterfeit products due to the rising e-commerce penetration is expected to drive up demand for brand protection solutions throughout the forecast period. The global authentication and brand protection market is anticipated to reach upto US$3.36 billion in 2023, progressing at a CAGR of 9.95% during the forecasted period.
Segment Covered:
- By Application: The market report has bifurcated the global authentication and brand protection market into five segments, in terms of application: Medical, Automotive, Food and Beverage, Consumer Electronics and others. The food and beverage segment lead the global authentication and brand protection market, accounting for the maximum share of the market. As food fraud incidents proliferate, consumers, business, and regulators alike are becoming more aware of the issue and taking action. Due to global distribution and low-cost production techniques, producers are trying to earn more money, which also lead to counterfeiting of food and beverage items. The global pandemic has also made food fraud more prevalent because more individuals are purchasing their groceries online and through third-party vendors. Thus, the market for food and beverage authentication and brand protection would upsurge in the years to come.
- By Technology: On the basis of technology, the report splits the market into two segments: Digital and Non Digital. Digital segment is expected to grow at the highest CAGR. As data collection technology improves and is more available to consumers via the ever-present smartphone, more brands may be able to actually integrate the reciprocal interaction with consumers via smartphones. These days, more smartphones are capable of image and code collection at high resolution with native and downloaded applications for digital interaction with products and manufacturers. Therefore, the rising digital brand protection services would grow in the years to come.
Geographic Coverage:
- According to this report, the global authentication and brand protection market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The countries covered in North America region include the US, Canada, and Mexico, while Europe includes Italy, Germany, UK, France, and Rest of Europe. Moreover, China, Japan, Australia, India, South Korea and the Rest of the Asia Pacific are included in the Asia Pacific region.
North America dominated the market with highest share of the global market. Rising brand awareness across the North America region is one of the key factors driving the growth of the authentication and brand protection market. The US is the largest market for authentication and brand protection in the world. The market is expanding as a result of increased government enforcement of strict anti-counterfeiting rules and regulations as well as a growing emphasis on protecting product and brand integrity.
Asia Pacific is anticipated to grow at the highest CAGR during the forecasted period. Asia Pacific authentication and brand protection market is extremely fragmented, with significant local and regional players offering a wide range of solutions for businesses looking to enter the market. North America, Mexico is expected to be the fastest growing region in the forecasted period.
Top Impacting Factors:
Growth Drivers
- Growth in Food and Beverage Industry
- Escalating E-commerce Sales
- Rise in Counterfeit Products
- Growth in Pharmaceutical Industry
Challenges
- Lack of Awareness
- High Initial Capital Investment
Trends
- Growing use of Blockchain Technology Solutions in Brand Protection
- Integration of Artificial Intelligence in Brand Protection
- Advancement in Solutions
- Rising Popularity of Digital Solutions in Authentication and Brand Protection
Driver: Growth in Food and Beverage Industry
Food and beverage manufacturers are looking for brand protection solutions as a result of the introduction of new supply chain laws, and the rising expense results in rise in counterfeit goods. According to Antares Vision group, 25%- 40% of spirit bottles or soft drinks are noted to be recycled or filled with fake products. The growing number of food scandals has alerted the consumers, industry to address the problem of counterfeit products. Hence, as food is consumed by people, there should be authenticity maintained, this leads to the boom of authentication and brand protection services in food and beverage industry.
- Challenge: Lack of Awareness
Counterfeiting is one of the major challenges for brands across the globe. Counterfeit products are hard to distinguish from original ones. Even companies on a smaller scale or in underdeveloped regions don’t prefer authentication and brand protection solutions as consumers are not much aware about it. The manufacturer cannot openly spread the word about the technology used to determine whether the product is genuine, as these technologies can also be adopted by counterfeiters once they get to know about them. Thus, lack of education regarding these techniques would serve as a major problem in the authentication and brand protection market.
- Trend: Rising Popularity of Digital Solutions in Authentication and Brand Protection
Digital monitoring plays a critical role in preserving the integrity and ongoing success of any brand today and in the future. Protecting the brands reputation, revenue and intellectual property online is now an essential part of company strategy. One such platform is DigiTraxTM digital platform. This platform is a comprehensive data repository and dashboard interface that enables secure transaction data to be gathered, stored, and analyzed to assist businesses in making decisions regarding brand protection. DigiTraxTM is a cloud-based, end-to-end platform that is safe, comprehensive, and designed to offer a complete picture of authentication and consumer interaction transactions and connected results. Hence, digital platform is providing significant opportunities to the overall market growth.
The COVID-19 Analysis:
In the first quarter of 2020, COVID-19 had a negative effect on the authentication and brand protection market, resulting in decreased revenues generated from the market. This trend has discontinued in the latter half of the year as the demand for brand protection solution has increased due to the rising number of counterfeit products.
COVID-19 has changed the working world, possibly forever. Safeguarding an organization's brand integrity and consumer’s safety is now of utmost priority than ever before, due to an increased efflux of counterfeit, damaged and expired products. Governments and the private sector need to work together and keep up their guard to shield themselves from the perils of illegal trade and counterfeiting to protect the welfare of the society at large.
Analysis of Key Players:
The global authentication and brand protection market is fragmented, with many players holding trivial market share. The key players of the global authentication and brand protection market are:
- Authentic Vision
- 3M company
- Authentix
- Applied DNA Sciences
- AlpVision SA
- Eastman Kodak
- Giesecke Devrient GmbH
- Arjo Solutions
- De La Rue
- Centro Grafico
- Avery Dennison
- Centro Grafico DG S.P.A
- Wisekey
The companies provides authentication and brand protection solutions to protect the brand value of the product. Some of the strategies among key players in the authentication and brand protection market are expansion, new launch, partnerships, mergers, acquisitions, and collaborations. For Instance, In January 2020, Authentic Vision extended partnership with HDMI Licensing Administrator, Inc. to expand the usage of Authentic Vision’s authentication technology for consumers to identify certified HDMI cables with a quick and simple scan of the certification label utilizing the HDMI authentication app. In January 2019, AlpVision joined International Anti-Counterfeiting Coalition (IACC). AlpVision is an active part of IACC and is focusing to support brand owners fight the ever-increasing counterfeiting problem by offering its advanced digital invisible authentication solutions.
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