NEW YORK, March 14, 2017 /PRNewswire/ — demand from the various end-use sectors to drive the market for packaging”
The global packaging industry is expected to witness high demand from various end-use sectors. The packaging market is driven by factors such as rise in technological advancements in the packaging industry, developments in printing technologies, and concerns regarding the impact of counterfeit packaging on the brand image of products. The growing food & beverages industry is projected to be the fastest-growing end-use sector over the next five years. Due to stringent laws & regulations enacted by the government and increasing importance given to package security by manufacturers, the demand for packaging trends is projected to grow in this sector. Emerging markets, such as the Asia-Pacific region, have contributed to an increase in the application of packaging trends in the packaging industry.
“RFID technology is projected to grow at the highest rate in the anti-counterfeit packaging market”
The RFID segment is projected to grow at the highest rate between 2016 and 2021, as it is the most-effective means to prevent counterfeiting of products. The RFID technology reads and captures information stored on the tag attached to the product. RFIDs are used extensively in the packaging industry as they include tags, readers, and software services. By using tags and readers, products can be traced in seconds; this helps improve and track the supply chain process from production through distribution and retailing.