Greg Hrinya, Editor07.19.22
The past two years have taxed most every industry to the limit. The challenges are not waning either. The concerns of 2020 have shifted to new obstacles. Business owners have been tasked with navigating the global pandemic, natural disasters, inflation, supply chain issues, workforce challenges, an overseas war and more.
These issues have rightly taken center stage – for consumers, brand owners, label converters and suppliers alike. But there are other challenges that are just as prevalent, albeit not as readily visible. The fight against counterfeit goods is a very real one, and the label and package printing industry is on the front lines of this battle. According to Fortune Business Insights, the global anti-counterfeiting packaging market was valued at $104.5 billion in 2018 and is projected to reach $189.9 billion by 2026. Labels and packaging play a pivotal role in this fight, whether providing tamper-evidence, authentication or track-and-trace capabilities. Brand protection covers a vast amount of territory. There are countless methods brands can use to safeguard their products, and suppliers have responded to surging demand.
This growing issue is also intertwined with the pandemic. With consumers staying home, e-commerce, which was already in a growth phase – boomed. Data shows that in 2022, e-commerce will hit $5.54 trillion globally, with an average increase of 12% until 2025. The escalating number of online orders has translated to an increased crime wave in the form of counterfeiting. In addition, product diversion is just as damaging to a brand.
“[Product diversion] may seem like a secondary concern because it is authentic product, but selling authentic product through unauthorized channels can also have significant risks for brands,” notes Tessa Eastman, connected products strategist, Systech.
There can be life and death ramifications when dealing with counterfeit goods. A counterfeit hand bag might serve as an inconvenience, but false pharmaceuticals can be deadly. In 2020, Interpol reported that 30% of pharmaceuticals sold worldwide are counterfeit, and more than one million people die every year after taking counterfeit pharmaceuticals. There won’t be stronger indicators for the importance of this segment of the industry than that one. Labels and packaging help deliver much-needed security to consumers, which also serves as a boon to brands. For all your brand protection concerns, turn to page 50 to learn more.
Our Packaging Spotlight feature (page 42) also delves into the importance of security labeling, as Africa is increasingly turning to labels to secure its food supply, specifically in regard to seeds.
As converters and suppliers get ready to attend Labelexpo Americas in September, security labeling should be a popular topic on the show floor. The world has changed since the last time we gathered in Rosemont, but safeguarding brands is more important than ever.
Greg Hrinya, Editor
ghrinya@rodmanmedia.com
These issues have rightly taken center stage – for consumers, brand owners, label converters and suppliers alike. But there are other challenges that are just as prevalent, albeit not as readily visible. The fight against counterfeit goods is a very real one, and the label and package printing industry is on the front lines of this battle. According to Fortune Business Insights, the global anti-counterfeiting packaging market was valued at $104.5 billion in 2018 and is projected to reach $189.9 billion by 2026. Labels and packaging play a pivotal role in this fight, whether providing tamper-evidence, authentication or track-and-trace capabilities. Brand protection covers a vast amount of territory. There are countless methods brands can use to safeguard their products, and suppliers have responded to surging demand.
This growing issue is also intertwined with the pandemic. With consumers staying home, e-commerce, which was already in a growth phase – boomed. Data shows that in 2022, e-commerce will hit $5.54 trillion globally, with an average increase of 12% until 2025. The escalating number of online orders has translated to an increased crime wave in the form of counterfeiting. In addition, product diversion is just as damaging to a brand.
“[Product diversion] may seem like a secondary concern because it is authentic product, but selling authentic product through unauthorized channels can also have significant risks for brands,” notes Tessa Eastman, connected products strategist, Systech.
There can be life and death ramifications when dealing with counterfeit goods. A counterfeit hand bag might serve as an inconvenience, but false pharmaceuticals can be deadly. In 2020, Interpol reported that 30% of pharmaceuticals sold worldwide are counterfeit, and more than one million people die every year after taking counterfeit pharmaceuticals. There won’t be stronger indicators for the importance of this segment of the industry than that one. Labels and packaging help deliver much-needed security to consumers, which also serves as a boon to brands. For all your brand protection concerns, turn to page 50 to learn more.
Our Packaging Spotlight feature (page 42) also delves into the importance of security labeling, as Africa is increasingly turning to labels to secure its food supply, specifically in regard to seeds.
As converters and suppliers get ready to attend Labelexpo Americas in September, security labeling should be a popular topic on the show floor. The world has changed since the last time we gathered in Rosemont, but safeguarding brands is more important than ever.
Greg Hrinya, Editor
ghrinya@rodmanmedia.com