“Countering Illicit Tobacco Trade market is valued at $8.95bn in 2019” says new Visiongain report
21 March 2019
Visiongain has launched a new packaging report Countering Illicit Tobacco Trade Market Report 2019-2029: Forecasts by Packaging (Holograms, Printing and Marking, Stamping Foil, Tax Stamps) and by Technology (Overt, Covert) PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis.
For the success of every market, the involvement of all of the market stakeholders is equally important. In the case of anti-counterfeit tobacco packaging solutions market, the participation of governments, tobacco product manufacturers and providers of anti-counterfeit packaging solutions are equally important. The governments across several countries and states have noticed the immense revenue loss caused due to the unchecked circulation of tobacco products. Furthermore, the discovery of facts and incidents such as funding of criminal and terrorist groups through the money gained through illicit trade of tobacco have made several governments concerned about the issue.
Europe has been the largest market for anti-counterfeit tobacco packaging products, and Asia-Pacific is the second largest market. Asia-Pacific is a market with significant opportunities, as there is a large cigarette smoking population and OCGs operating in the region have been very active due to an effective combatting framework. Double-Digit market growth and the moderate number of providers of anti-counterfeit tobacco products is an opportunity for the market. Innovations can make the market more sustainable as robust technology can help the market in gaining the trust of the cigarette manufacturers and governments.
The Visiongain report analyst commented "The government’s growing attention towards revenue loss and funding of criminal and terrorist activities through the illegal tobacco trade has led to increased collaboration between the revenue authorities and manufacturers of anti-counterfeit tobacco packaging solutions. The track and trace framework of governments of various countries have become more efficient. Though, significant white spaces remain globally, which makes Visiongain conclude that a double-digit growth will be observed during the forecast period."
Leading companies featured in the report who are offering anti-counterfeit tobacco packaging solutions include Zebra Technologies, Advanced Track & Trace, AlpVision, Alien Technology LLC, Authentix, Holostik, Impinj, Inc., Linx Printing Technologies Ltd., Suzhou Image Laser Technology Co., Ltd, and VeriTrace.
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