Home → News → Polygiene VeriMaster → Anti-counterfeit technology set for record growth
Verimaster, the product anti-counterfeit system developed by Addmaster (UK) Ltd., is being used daily by some of the world’s most famous brands to help fight fraud costing the global economy over $1.7 trillion in lost sales.
According to a new report from Allied Market Research, worldwide revenues for anti-counterfeit packaging in the food and beverages sphere reached $26.4 billion in 2014 and this figure is set to more than double by 2020, soaring to $62.5 billion.
The market for anti-countefeiting cosmetic and pharmaceutical packaging is also set to see an annual growth in excess of %15 in the course of the next five years, the report finds.
The main drivers behind the growing demand for anti-counterfeit products in include the higher health risk associated with products that are sub-standard and the economic damage that fakes are causing to established brands.
Verimaster is innovative covert technology deigned for instant recognition of authentic products and the instant detection of fake items. It can also monitor the use of specified materials in a product, revealing the presence of any fake components.
Available in masterbatch, liquid or powder forms, Verimaster is suitable for all polymers, paper, textiles and coatings and can be added with no loss to physical or optical properties and tested with custom detection tools to prove its authenticity.
Addmaster MD Paul Morris explains: “Our technology is used in a wide range of industries, helping protect goods and documents worldwide. When up to 20 per cent of prescription drugs and over 550,000 aircraft parts are thought to be counterfeited each year, it shows that nothing is off limits to copycat producers”.
*Please note that Addmaster was acquired by the Polygiene Group AB in January 2021, so all news articles prior to that date will still be branded as Addmaster.