The value of counterfeit and pirated goods is expected to exceed $1.9 trillion globally by 2022, according to the International Chamber of Commerce. As a result of counterfeiting challenges, consumer brands are now looking for comprehensive ways to help protect their consumers’ safety and their brand’s reputation.
The Insight Partners recently published the report, Authentication and Brand Protection Market Forecast to 2028, which forecasts the brand protection market will grow to US$ 5,322.57 million by 2028.
The report’s highlights include:
- Overt, covert, forensic and digital barcode authentication methods lead market share
- Pharmaceutical and food & beverage companies are the leading users of brand protection technology solutions
- Digital commerce accelerated during COVID-19, which exposed brands to new threats to their equity, reputation and consumers’ trust
- Authentication and brand protection growth contributors: efficient product allocation, enhanced inventory management and real-time inventory oversight
Consumer brands understand the threat today and are looking for their suppliers to help them overcome these challenges. Printers and packaging suppliers serving retailers and brands can help their clients by partnering with leading-edge brand protection companies.
Digimarc delivers sophisticated covert and overt protection for physical products, packaging, and digital assets, providing a crucial – and comprehensive – layer that supports anti-counterfeiting strategies to ensure product integrity and preserve brand reputation.
Learn how Digimarc can protect your brand here: Brand Protection