The International Hologram Manufacturers Association (IHMA) has reiterated its position that holograms provide an effective tool in the battle against counterfeiting.
Spurred on by a new report from Reports and Data that predicts the global market for anti-counterfeiting packaging will reach almost $250 billion USD by 2026, IHMA has identified growth in packaging anti-counterfeiting devices as both ‘strong and lucrative’.
The report predicts the anti-counterfeiting packaging sector in the Asia-Pacific region will experience a compound annual growth rate of 10%, owing to the developing markets in China and India. This is primarily due to the rise in healthcare concerns, higher adoption rates of anti-counterfeit technologies, and growing awareness about track and trace technologies.
IHMA noted that while counterfeiting continues to be attractive to fraudsters, it wants to see more pressure applied to the packaging sector to help fend off the wave of fake products continuing to flood onto global markets. To this end, it highlighted how security devices such as holograms on packaged goods can ensure quality and check the distribution and smuggling of illicit products, while items not displaying security holograms can be seized and destroyed.
The use of authentication technologies, as advocated by the ISO12931 standard, enables examiners to verify the authenticity of a legitimate product, differentiating it from fake products coming from counterfeiting hot spots in Asia and Eastern Europe. Even those that carry a ‘fake’ authentication feature can be distinguished from the genuine item if that item carries a carefully thought-out authentication option.
IHMA chair Paul Dunn added that despite successes, those in the packaging sector involved in the war on counterfeiting cannot afford to rest on their laurels.
‘The report highlights holograms as an effective weapon in the battle to thwart counterfeiters and fraudsters. Those involved in the supply chain will always be reassured by the presence of holograms on products and recognise the benefits they provide.’
IHMA is made up of 90 of the world’s leading hologram companies, including producers and converters of holograms for banknote security, anti-counterfeiting, brand protection, packaging, graphics and other commercial applications around the world.
