Trade in Counterfeit Goods Market Set to Reach $1.79 Trillion in 2030 – Corsearch
16 Mayo 2024 - 11:00PM
Business Wire
- One in twenty dollars spent in 2030 could be on counterfeit
products
- Corsearch launches Corsearch Zeal technology to empower brand
owners to protect IP in the face of this challenge
Corsearch, leading provider of brand protection and trademark
solutions, has today shared research predicting that the size of
the global trade in counterfeit goods could reach $1.79 trillion by
2030, a 75% increase from that of 2023 and a growth 3.6 times
higher than predicted for the global economy over the same
period.1
Corsearch calculations estimate that counterfeits accounted for
3.3% of global trade in 2023, and will grow to 5% by 2030 - meaning
$1 in every $20 spent globally on products could be spent on
counterfeit goods.
The total displaced economic activity from counterfeiting in
2022 – namely the cost to brands and manufacturers – totalled $1.1
trillion, resulting in a loss of $174 billion to worldwide sales
tax revenue, impacting up to 5.4m jobs.2
In addition to the negative global economic impact of
counterfeiting, fake products have a damaging effect on the
reputation of brands, reducing customer trust and risking consumer
safety.
Corsearch has recognised the need for advanced innovations and
solutions in brand protection to meet this challenge, and has today
launched its latest technology platform, Corsearch Zeal. The
platform uses AI to secure removal of fakes and counterfeit goods
from the Internet whilst enabling Corsearch’s team of experts to
focus on the most severe issues for brands and consumers and to
find the source of the illicit activity.
Using the Corsearch Zeal platform, brands can go further to
identify the source of the problem, reducing the losses and harm
from counterfeit trade and protecting consumers.
Simon Baggs, President of Brand & Content Protection,
Corsearch, commented:
"The rapid expansion of the counterfeiting industry could take
up to 5% of the global goods economy by 2030 - posing a significant
threat to brands. Urgent measures need to be taken, which is why we
are today launching our new Corsearch Zeal platform. Technology
enables vast swathes of data to be collated – enabling brands to
collaborate to stop online sales whilst also targeting the source
of the problem. Without this effort, we estimate that one in twenty
dollars will be spent on counterfeit goods by 2030, a worrying
figure for brands already grappling with the problem in 2024.
“Corsearch Zeal shows our continued dedication to innovation and
delivering unrivalled brand protection in the face of this
escalating challenge. With Corsearch Zeal and our team of experts,
we want to provide the most advanced solutions, enabling brands to
work together to protect their consumers.”
For further information on Corsearch Zeal, read more here.
Notes to Editors
Methodology
Corsearch calculations are based on the below datapoints:
- Total global trade in goods: $31 trillion (UN Conference on
Trade & Development) (2023) Total growth in global trade in
goods through 2030: 2.3% (Boston Consulting Group) Total trade in
counterfeit goods, 2023: $1.023 trillion (OECD data) (2023)
- Employment loss: 4.2-5.4 million jobs (Frontier Economics) Cost
of displaced legitimate economic activity due to counterfeiting:
$1,106 billion (Frontier Economics & Corsearch calculation)
(2022) Impact on sales tax revenue: $174 billion (Frontier
Economics & Corsearch calculation)
- 8.3% CAGR in counterfeit trade (Corsearch calculation, based on
data from UN Conference on Trade & Development, OECD and EUIPO
figures)
About Corsearch:
Corsearch’s leading Trademark and Brand & Content Protection
Solutions are revolutionizing how companies create, monitor, and
protect their brands. Over 5,000 businesses worldwide partner with
Corsearch to safeguard consumers and their trust in brands —
preventing confusion, misrepresentation, and fraud using the hybrid
intelligence of advanced AI precision and expert decision of human
analysts.
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Priya Bilkhoo, Rostrum corsearch@rostrum.agency +44 (0) 7846 550
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