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DUBLIN, Oct. 28, 2022 /PRNewswire/ — The “Global Authentication and Brand Protection Market: Analysis By Application (Medical, Automotive, Food and Beverage, Consumer Electronics, and Others) and By Technology (Digital and Non Digital) By Region Size And Trends With Impact of COVID-19 And Forecast up to 2027” report has been added to ResearchAndMarkets.com’s offering.
The global authentication and brand protection market in 2021 was valued at US$2.88 billion. The market is expected to reach US$4.91 billion by 2027. Market is expected to flourish at a CAGR of 9.6% during the forecast period of 2022-2027.
Authentication and Brand Protection is a business to protect and save the brand, maintain its originality and gain customer support. Due to increasing digitalization, major struggle faced by the small or big brands are authentication and brand protection. These solutions are adopted so that counterfeiters are not able to infringe IP or replicate the goods, guaranteeing consumer trust and brand reputation is maintained.
Authentication and brand protection solutions are used to combat counterfeits and to build trust. Economic growth and expansion of manufacturing industry is forecasted to increase the adoption of authentication and brand protection solutions in many industries such as pharmaceuticals, automotive, food and beverages, electronics, etc .
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 of 2022-2027.
Market Segmentation Analysis:
By Application:
The report provides the bifurcation of authentication and brand market into five segments : Medical, Automotive, Food and Beverage, Consumer Electronics and others. In 2021, the food and beverage segment lead the global authentication and brand protection market, accounted for around 35% 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…
Full story available on Benzinga.com
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