South & Central America Authentication and Brand Protection Market Forecast to 2030 - Regional Analysis - by Component, Technology, and Application

The South & Central America authentication and brand protection market was valued at US$ 109.70 million in 2022 and is expected to reach US$ 217.25 million by 2030; it is estimated to grow at a CAGR of 8.9% from 2022 to 2030.

Technological Advancement in the Authentication and Brand Protection Technology fuel the South & Central America Authentication and Brand Protection Market

Blockchain technologies enhance the efficiency, transparency, and security of global supply chains. They can help prevent product duplication and enable real-time tracking of authentic products. Although this technology is projected to have a significant and positive impact on the authentication and brand protection market, it is still in the initial stage of development. Further, strategic alliances between market players and technology providers offer massive growth
opportunities in the market.

Counterfeiting of luxury products has become a foremost concern for consumers worldwide in recent years as it may lead to injuries to consumers, potential lawsuits against manufacturers, loss of revenue, and damage to the reputations of stakeholders. Counterfeit products can spread vigorously across countries because of a lack of transparency in distribution and manufacturing processes. With the rising awareness about blockchain technologies, numerous companies are exploring its use in supply chains to maintain transparency. Blockchain technology-powered platforms are being used to provide customized tools for tackling counterfeiting. Various companies use smart tags - such as QR codes, radio frequency identification tags, and metallic or ceramic surface signatures - to enable their products with blockchain technology.

Wine is one of the products susceptible to fraud, and industry experts are utilizing permissible blockchain with peer-to-peer networks as a decentralizing communication model to counter the related risks. Packaged wines are digitally protected by embedding a thin plastic layer marked with serial code to avoid tampering while connecting the bottle and the blockchain. Thus, brands can reinforce their market presence and brand image with the use of such advanced technologies.

South & Central America Authentication and Brand Protection Market Overview

The South & Central America authentication and brand protection market is sub segmented into Brazil, Argentina, and the Rest of South & Central America. Countries in South & Central America are recording high industrialization rates, with industries such as food & beverages, agriculture, automotive, and industrial components growing at a notably fast pace. Countries in the region majorly depend on imported goods and commodities. However, with the rise in FDIs, several industries are entering the South & Central America marketplace and are contributing substantially to the respective GDPs of these countries. Various governments in South & Central America are taking significant steps to combat counterfeiting, thereby propelling the demand for anti-counterfeit products.

South & Central America Authentication and Brand Protection Market Revenue and Forecast to 2030 (US$ Million)

South & Central America Authentication and Brand Protection Market Segmentation

The South & Central America authentication and brand protection market is segmented based on component, technology, application, and country. Based on component, the South & Central America authentication and brand protection market is segmented into overt, covert, forensic, and digital. The overt segment held the largest market share in 2022.

Based on technology, the South & Central America authentication and brand protection market is segmented into security printing & tamper proof labels, security inks & coatings, OVDS and holograms, unique codes, bar codes, RFID, authentication ICS, and others. The bar codes segment held the largest market share in 2022.

Based on application, the South & Central America authentication and brand protection market is segmented into consumer electronics, automotive, medical, chemical, food & beverage, tobacco, and others. The food & beverage segment held the largest market share in 2022.

Based on country, the South & Central America authentication and brand protection market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America authentication and brand protection market share in 2022.

3M Co, Authentix, Avery Dennison Corporation, De La Rue Plc, Eastman Kodak Co, and Giesecke Devrient GmbH are some of the leading players operating in the South & Central America authentication and brand protection market.

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