For detecting counterfeit beverage products across the globe, anti-counterfeit beverage packaging technologies have been invented. Because of easy availability of counterfeit products in local markets, the beverage industry is severely affected. Due to the increasing production of beverage counterfeits, it is expected that the anti-counterfeit beverage packaging market will experience lucrative growth in the future. It is predicted that the global anti-counterfeit beverage packaging market would grow in terms of revenue until 2024. Many new, efficient, and easy to use technologies for testing the originality of the products are emerging in the market. Manufacturers are using such technologies and thus assisting in the growth of the global anti-counterfeit beverage packaging market.
Counterfeiting is globally affecting the beverage industry, resulting into innumerable tangible and intangible losses for the players operating in the industry. It affects the revenue of companies along with the end-users of their products. Beverages industries are continuously taking steps to fight counterfeiting in their supply chain as it seriously affects their sales revenue. Besides, lower quality of counterfeit products affects the brand image of the company and also results in health issues among consumers.
Forged packaging products are so well industrialised that it becomes impossible to trace them through regular inspection and, thus, such counterfeit beverage products make entry into the retail market. With their poor product quality, they pose severe concerns related to the consumers’ health safety, and consequently lead to the deterioration of the brand image of the affected company.
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Counterfeiting affects the gross revenue of the company and causes immense long term damage to its credibility. Every year, significant amount of losses are incurred by the operating players due to the usage and sale of counterfeit products in the global beverages industry.