The phenomenon of counterfeiting in the cosmetics industry is a problem which is refusing to go away; Beyond its negative impact on the bottom-line of companies in the sector, it also poses a health risk for consumers. As at 2017, the global cosmetics industry was estimated to be worth about $523 billion, and it is projected to be valued at $805 billion by the end of year 2022, growing at a CAGR of 7% per annum.
