Global Invisible Taggants Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Invisible Taggants Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

An invisible taggants is any chemical or physical marker added to materials to allow various forms of testing. They can be utilized to differentiate authentic product from counterfeits, provide identifying information for traceability purposes (e.g., lot number, company name), and to detect dilution of proprietary products. Invisible taggants are known to be widely used in the cosmetics, alcoholic drink & tobacco, BFSI, pharmaceutical and luxury accessory.

Market Overview:

The latest research study on the global Invisible Taggants market finds that the global Invisible Taggants market reached a value of USD 306.31 million in 2022. It’s expected that the market will achieve USD 515.69 million by 2028, exhibiting a CAGR of 9.07% during the forecast period.

Affect the normal operation of industry

The raging COVID-19 has plunged the global economic environment into depression. The influence of COVID-19 on invisible taggants industry will involve all major links and entities in the industrial chain. The management efficiency of the company declined, commuting was hindered, production plans were hindered, and the company's development strategy and marketing methods were forced to adjust. In addition, the company's production is limited to some extent, and the production of related enterprises in the hardest hit areas is greatly affected. The government has also put forward higher requirements for the production and operation of enterprises.

Market growth slows down

The epidemic caused the economic downturn, affected the global financial market, and at the same time caused a serious blow to the global manufacturing market. The epidemic caused huge income loss to the end-user industry. The strict blockade imposed by the government restricted the cross-border trade between countries and affected the downstream market demand of Invisible taggants.

Good product performance

Invisible Taggants are highly covert in nature and can be implemented on scales ranging from nano to micro. This enables deployment in multiple product and industry categories. The fact that invisible taggants technologies leave little to no scope for reverse engineering, replication and tampering makes them a natural choice for industries and brands looking at comprehensive security and protection against counterfeiting. In addition, Invisible Taggants can be used to mark packaging and products themselves, which enables invisible taggants to provide comprehensive protection for enterprise products. Invisible Taggants' good product performance has brought extensive downstream market demand.

Risk of market competition

For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry. Having an understanding of industry rivals is vital to successfully market a product. Positioning pertains to how the public perceives a product and distinguishes it from competitors. A business must be aware of its competitors marketing strategy and pricing and also be reactive to any changes made.
At present, there are many participating enterprises in the invisible taggants industry. In the future market competition, if manufacturers fail to surpass their competitors in terms of services quality, and R&D strength, they will be unable to maintain their existing competitive position in the invisible taggants market and lose their original market share, and there will be a risk that the operating performance of manufacturers will decline.

Region Overview:

In global comparison, a significant portion of the revenue was generated in North America (37.15% in 2021).

Company Overview:

Merck is one of the major players operating in the Invisible Taggants market, holding a share of 28.93% in 2022.

Merck

The company is divided into three business lines: Healthcare, Life Sciences and Electronics. Merck was founded in 1668 and is the world's oldest operating chemical and pharmaceutical company, as well as one of the largest pharmaceutical companies in the world.

Honeywell

Honeywell International Inc. is a worldwide technology and manufacturing company. The Company provides aerospace products and services, control, sensing and security technologies for commercial buildings, safety and productivity solutions, specialty chemicals, advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions.

Segmentation Overview:

Among different product types, Hand-held Instrument Detection segment is anticipated to contribute the largest market share in 2027.

Application Overview:

The market's largest segment by application is the segment Luxury Accessory, with a market share of 24.46% in 2021.

Key Companies in the global Invisible Taggants market covered in Chapter 3:

Essentra
VIAVI Solutions
Merck
Microtrace
U-NICA
Eluceda
Spectra Systems
Authentix
Honeywell
NanoMatriX International
Olnica

In Chapter 4 and Chapter 14.2, on the basis of types, the Invisible Taggants market from 2018 to 2029 is primarily split into:

Hand-held Instrument Detection
Fixed Instrument Detection

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Invisible Taggants market from 2018 to 2029 covers:

Cosmetics
Alcoholic Drink & Tobacco
BFSI
Pharmaceutical
Luxury Accessory
Automotive
Chemical
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)