INDUSTRIES

The Extent of Counterfeiting in the Food Industry

Within recent years, the food industry has been victim to a burgeoning trade with counterfeited food and drinks. In 2017 more than $1.5 trillion of counterfeit goods were traded and a significant slice of this relates to the food industry. A recent article from World Trade Market Review explains how companies in the food industry have to take this problem very seriously.​

One of the key challenges facing all brand owners today is the threat that counterfeiting poses to their revenues and reputations. However, food and drink companies must take into account a more sinister consideration – the health risks that unregulated and untraceable food and drink products can pose to consumers. With no quality control of counterfeit goods and their component ingredients, the possibility of involuntary ingestion of toxic substances is a matter of grave concern.” 

Source; World trade market review, May 2017​

The global counterfeit market is expected to double within five years from 1.200B$ in 2017 to 2.300B$ in 2022. This massive increase is amongst others due to an increase in quality of counterfeits which is caused by larger criminal network, new technology, 3D printers, easy access to original labels & packaging etc. The problem is indisputable and companies need to react in order to reduce the losses caused by counterfeits. Otherwise billions of dollars will be lost and brand value will erode.

How Valify Can Help the Food Industry

By taking advantage of RFID technology, Valify will detect whether foods are fake or original within a second. Valify will make it possible to reduce the damage from counterfeits to your brand considerably. Regardless of distribution channel Valify can detect counterfeits in stores, websites, marketplaces etc. This provides your company with a holistic overview of the counterfeit market in real-time, and hence the possibility to detect and react upon the most urgent problems.

Choose Between two Different Solutions

The two different solutions that Valify offers are both optimal for companies within the food industry. The big question you and your company have to ask yourselves, is whether you want the inspection/control to be performed by internal employees, or you want customers to be able to validate products on their own. 

Customer Solution

  • Brand protection​
  • Easy validation​
  • Customer engagement​
  • 100% credible response​
  • A reliable brand​
  • Increased bottom-line​
  • Network across brands​

Internal Control / Kept Inhouse

  • Brand protection​
  • Parallel import protection/detection​
  • Intelligent control​
  • Anonymity​
  • Worlds fastest inspections​
  • Statistics & analysis​
  • Increased bottom-line​
  • Network across brands​