The cost of global counterfeiting is difficult to calculate
According to estimates in the 2016 report from the Organization for Economic Co-operation and Development, the global market in cross-border trade in counterfeit goods shows anywhere between $461 billion to $1.7 trillion. North America accounted for 50 percent of the total growth in the global anti-counterfeit food packaging market in 2014.
Global look at food and beverage: The number and cost of recalls are rising
While perhaps not intuitive, counterfeiting is an enormous problem for certain foods in the industry, especially olive oil, honey, fish, vinegars, vanilla, and coffee.
Global look at pharma: Counterfeiting and diversion is rampant
Big pharmaceutical has shifted a large part of its manufacturing operations and supply sourcing overseas. By late 2018, 75 percent of the world’s prescription medications will be regulated as they travel through the supply chain.
Brand manufacturers look for print quality, reliable reads, and speed in new systems.
There is value-added in a fully integrated solution
The future is integration; in order to attain that future, brand manufacturers and OEMs must work together to communicate and develop standards in data collection and recording.
Source: Brand Protection and Product Traceability market research report 2016: www.PMMI.org/research
