The International Hologram Manufacturers’ Association (IHMA) states that the report, produced by leading Indian consulting firm Cygnus Business Consulting & Research, recognises that India is one of the most dynamic global markets for holography and a major producer, with more than 40 national companies now manufacturing holograms.
The domestic market for holograms is currently worth almost $100 million, but is predicted to grow by 15% over the next five years. This success is being driven by the technology’s increasing use in product authentication and excise collection applications.
Alcohol excise stamps
Issued by state Governments in India, alcohol excise stamps not only account for approximately half of all the holograms in use but also represent the fastest-growing sector of the market.
Excise duty on alcohol is both an important source of Government revenue and a means of controlling and limiting consumption. However, the illicit trade in beers, wines and spirits through smuggling and counterfeiting costs billions of dollars every year in lost revenue.
According to the IHMA, it’s inevitable that holograms are being seen as an invaluable and highly effective weapon to be used by tax collecting authorities in their war on smuggling and counterfeiting.
Protection of brands and revenue streams
The IHMA also believes that Indian-based pharmaceutical companies, worried by resourceful and well organised counterfeit gangs, recognise the value of holograms in protecting revenue streams and brand reputation. The report suggests that 20% of the millions of holograms produced annually are used by drug and cosmetic producers as an integral part of their brand authentication programmes.
Consumer goods and automotive vehicle components are also important markets for holograms, with 8% and 3% market share respectively.
Ian Lancaster, the IHMA’s general secretary, commented: “We welcome the report, which shows that holography is a highly effective, flexible weapon in the ongoing battle to thwart the counterfeiters and fraudsters in India and beyond.”
Lancaster added: “All those in the supply chain are reassured by the presence of holograms and recognise the benefits they provide.”
In conclusion, Lancaster explained: “People are still reassured by the presence of holograms on banknotes, and recognise the benefits they provide. Holography appears to have a strong future in India, where new ways for this versatile and durable technology to be used are emerging.”
For a full copy of the report click the web link provided on the right hand panel of this page
*The IHMA is made up of 90 of the world’s leading hologram companies. IHMA members are the foremost producers and converters of holograms for banknote security, anti-counterfeiting, brand protection, packaging, graphics and other commercial applications around the world.
IHMA member companies actively co-operate to maintain the highest professional, security and quality standards
