A new report by Transparency Market Research briefs readers about the key factors driving and restricting the growth of the global anti-counterfeit cosmetics packaging market. As per the findings of the report, the rising number of cases of cosmetic counterfeit products has affected the global anti-counterfeit cosmetics packaging market. Cosmetic manufacturers are facing concerns about the counterfeiting malpractices since the recent past. Counterfeiting has affected the players operating in the global cosmetic market in many ways, resulting in intangible and tangible losses.
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Low quality of the fake products and their rising entry in the global market has affected the branded products in many ways. A wide array of counterfeit products with brand names is expected to enter the local markets. Leading players operating in the global cosmetics industry are focusing on minimizing this penetration of counterfeit products. The report, titled “Anti-counterfeit Cosmetics Packaging Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024,” states that the global market is expected to grow at a significant pace owing to the rising cases of cosmetic counterfeit products.
The counterfeit products, owing to their low product quality, lead to many side effects and issues among consumers, such as infection, irritation, and skin rashes. This is predicted to further worsen the image of branded products. Every year, the global cosmetic industry has been facing a big loss due to the rising presence of counterfeit products. This has led to the increase in the number of companies dealing with anti-counterfeit cosmetics and packaging technologies. Anti-counterfeit cosmetic packaging has appeared to be one of the finest alternatives to restricting the growth of the counterfeit products. The availability of day-to-day use skin care products in the local markets has made them prone to counterfeiting. This has boosted the global market for anti-counterfeit cosmetics packaging market.
Innovative technologies for verifying the original cosmetic products are predicted to boost this global market, predict the analyst. The rising awareness among people about the ill effects of using forged products is expected to increase the demand for branded products. Companies operating in the global anti-counterfeit cosmetics packaging market are focusing on investing more on anti-counterfeit packaging technologies, which is expected to create new growth opportunities. Although the key companies are focused on introducing new anti-counterfeit cosmetics packaging technologies, their high cost is likely to impose many challenges.
Based on region, the global anti-counterfeit cosmetics packaging market is divided into Latin America, North America, Western America, Asia Pacific, the Middle East and Africa, and Eastern Europe. Zebra Technologies, AlpVision, SICPA HOLDING SA, Impinj, Inc. Alien Technology Corp., Avery Dennison Corp., and Microtrace, LLC are some of the leading organizations operating in the global market for anti-counterfeit cosmetics packaging market.b