Frontier (Europe) report raises fresh concerns over potential rise in counterfeiting
Predictions of a continuing rise in counterfeiting will sound fresh alarm bells for both producers and suppliers of goods, warns the International Hologram Manufacturers Association (IHMA).
The global industry trade body states that the International Trademark Association (INTA) and International Chamber of Commerce-commissioned study estimates the global economic value of counterfeiting and piracy could reach $2.3 trillion by 2022.
The wider social, investment and criminal enforcement costs could push this figure even higher, taking the total to more than £4 trillion and placing millions of ‘legitimate’ jobs at risk.
The report confirms that China remains the biggest single source of counterfeit products, which span the spectrum of goods from clothes, tobacco and alcohol through to fake medicines, cosmetics and electronics.