Connect with us


Counterfeit Goods Could Rise 75% by 2030: Study

One in 20 dollars spent at start of next decade could be on fake products





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 overall global economy over the same period. That’s the conclusion of a just-released study by Corsearch, a provider of brand protection and trademark solutions.

That company’s 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 – totaled $1.1 trillion, resulting in a loss of $174 billion to worldwide sales tax revenue, impacting up to 5.4 million jobs.

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.

“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,” said Simon Baggs, Corsearch’s President of Brand & Content Protection. “Urgent measures need to be taken…”

Corsearch bases its calculations on these data points:

  • 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)
  • 3% annual increase counterfeit trade (Corsearch calculation, based on data from UN Conference on Trade & Development, OECD and EUIPO figures).

Click here for more from the report.



MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design

Promoted Headlines





Most Popular