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, offering reassurance that the market for packaging authentication technologies will remain strong and robust for the next few years.
The worldwide market for holograms is expected to grow by an estimated 27% over the next five years at a time when the global anti-counterfeiting packaging market is expected to reach US$1.34 billion by the end of 2026, with a CAGR in excess of 10% during 2021-2026.
Companies looking to protect their products against brand piracy and reduce the levels of counterfeiting are adopting advanced authentication and verification technologies. Technological innovation within the anti-counterfeiting, authentication, and verification technologies market is a major factor contributing to the growth of the market, says IHMA.
Counterfeiting is lucrative but packaging featuring security devices can help to check the distribution and smuggling of illicit products, while items not displaying security holograms can be seized and destroyed by appropriate law enforcement authorities and agencies.
Commenting on the report, IHMA chair, Dr. Paul Dunn, said, “Digital solutions are a clear and growing addition to authentication solutions, sometimes in isolation, but within the holographic industry it’s the combination with packaging track and trace systems among other solutions, that’s seen as the foreseeable future. In doing so, the opportunities for holograms to be at the forefront will drive sector growth.”
“Critically, the report indicates that the role of holograms as effective weapons in the frontline fight against 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.”