Food

Counterfeiting poses a significant threat to consumer health and safety in the food industry, with the potential worth of the counterfeit food industry estimated at $49 billion per year. The inclusion of forged ingredients, such as adulterated coffee and olive oil, as well as shocking cases of fake meat and fish, compromises the well-being of consumers. Alarmingly, much food fraud remains undetected, exposing individuals to potentially harmful counterfeit products. (The Guardian)

Loss of consumer trust is a concerning consequence of counterfeiting in the food industry. According to a study, 39% of respondents express a diminished trust in brands associated with counterfeit products. Over the past year, 44% of respondents believed they had unknowingly purchased fake food items, including baked goods, pet food, prepared meals, and processed food. These statistics underline the magnitude of the problem, leaving consumers feeling uncertain about the authenticity and quality of the food they consume. (RedPoints)

The need for brands to protect consumers from fake consumer packaged goods (CPG) is paramount, as emphasized by 58% of customers. Failing to effectively address consumer suspicions regarding food products can lead to significant financial challenges for businesses. Regaining customer trust becomes a long and arduous journey. To rebuild confidence, brands must prioritize consumer engagement, transparency, and the provision of accurate information about origins and components. These steps are crucial in restoring trust in the brand’s intellectual property and establishing a solid foundation of trust with consumers. (European Commission)