A new report signals ‘strong growth potential’ for packaging holography technologies. That’s the view of the International Hologram Manufacturers Association (IHMA), which has commented on the latest intelligence published by Research and Data. This predicts that the global market for anti-counterfeiting packaging will reach almost US$ 250 billion by 2026.
Growth in packaging anti-counterfeiting devices appears both ‘strong and lucrative’ feels the IHMA on the back of a report that predicts the anti-counterfeiting packaging sector in the Asia Pacific region will experience a CAGR of 10% owing to the developing market in China and India. This is primarily due to the rise in healthcare concerns, higher adoption rates of anti-counterfeit technologies and growing awareness about tracking and tracing technologies.
Welcoming the report, the IHMA said that, while counterfeiting continues to be an attractive option for the criminal fraternity, it wants to see more pressure applied to the packaging sector to help fend off the wave of fake products continuing to flood global markets.
Security devices on packaged goods can ensure quality and check the distribution and smuggling of illicit products, while items not displaying security holograms can be seized and destroyed.
IHMA chair Dr Paul Dunn says that, despite successes, those people in the packaging sector involved in the war on counterfeiting cannot afford to rest on their laurels. He stated: “The report highlights holograms as an effective weapon in the battle to thwart counterfeiters and fraudsters. Those involved in the supply chain will always be reassured by the presence of holograms on products and recognise the benefits they provide.”
The use of authentication solutions, as advocated by ISO 12931, enables examiners to verify the authenticity of a legitimate product, differentiating it from fake products coming from counterfeiting ‘hot spots’ in Asia and across 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.
The IHMA is made up of 90 of the world’s leading hologram companies. Members include the leading producers and converters of holograms for banknote security, anti-counterfeiting, brand protection, packaging, graphics and other commercial applications around the world. They actively co-operate to maintain the highest professional, security and quality standards.