What Will India's Authentication and Traceability Industry Reach by FY29?
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Synopsis
The Indian authentication and traceability industry is on a remarkable growth path, with projections estimating its value at Rs 16,575 crore by FY 2028-29. This report uncovers the key drivers behind this expansion and highlights the importance of A&T in today's market.
Key Takeaways
- Projected growth: Rs 16,575 crore by FY 2028-29.
- Strong CAGR: 11.3 percent forecasted growth rate.
- Sector leaders: Pharmaceuticals, consumer products, cosmetics, and automotive.
- Technological innovations: Blockchain, IoT, and AI are gaining traction.
- Consumer protection: Essential for safeguarding against counterfeiting.
New Delhi, Sep 11 (NationPress) The Indian authentication and traceability (A&T) sector is anticipated to hit Rs 10,612 crore in FY 2024-25 and is expected to soar to Rs 16,575 crore by FY 2028-29. This growth signifies a robust upward trend, with a projected compound annual growth rate (CAGR) of 11.3 percent, as highlighted in a recent report.
The industry was valued at Rs 9,705 crore in FY 2023-24, marking a CAGR of 7.4 percent since FY 2019-20, according to a collaborative report from the Authentication Solution Providers’ Association (ASPA) and Accenture.
On a global scale, the A&T market was valued at $147 billion in 2023 and is forecasted to expand to $382 billion by 2032.
The Asia-Pacific region is projected to spearhead this expansion, exhibiting a CAGR of 14.2 percent, propelled by increasing regulatory demands and a surge in consumer expectations for transparency and authenticity.
Key sectors fueling demand in India are pharmaceuticals (17 percent), consumer goods (14 percent), cosmetics (13 percent), and automotive parts (13 percent).
Factors such as the escalating issue of counterfeiting, the rise of e-commerce, heightened consumer awareness, and evolving regulatory frameworks are pivotal in the sector’s growth.
“This report marks a significant step in India’s battle against counterfeiting. Authentication and traceability have transitioned from being optional to essential for safeguarding consumers, protecting brands, and fostering trust in the marketplace. With the A&T industry in India poised for double-digit growth, this study will be instrumental for policymakers, businesses, and stakeholders in crafting a more secure and transparent future,” stated Manoj Kochar, President of ASPA, during the event.
While traditional methods like holograms and QR codes remain prevalent, there is a growing interest in innovative technologies such as blockchain, Internet of Things (IoT), and AI, as the report points out.
This report was compiled based on surveys from ASPA member companies, coupled with extensive interviews with government officials, industry stakeholders, and global organizations.
Point of View
I believe the projected growth of India's authentication and traceability industry is not only a testament to the evolving market dynamics but also an essential development for consumer protection. The increasing focus on transparency and authenticity in various sectors, particularly in pharmaceuticals and consumer goods, demonstrates a collective commitment towards combating counterfeiting. This aligns with our national goal of fostering trust and safety in the marketplace.
NationPress
21/09/2025
Frequently Asked Questions
What is the projected value of the A&T industry in India by FY 2028-29?
The Indian authentication and traceability industry is projected to reach Rs 16,575 crore by FY 2028-29.
What factors are driving the growth of the A&T sector?
Key factors include rising counterfeiting, increased e-commerce, consumer awareness, and regulatory requirements.
Which sectors are leading in demand for A&T solutions?
Pharmaceuticals (17%), consumer products (14%), cosmetics (13%), and automotive components (13%) are the leading sectors.
What technologies are influencing the future of A&T?
Innovative technologies such as blockchain, IoT, and AI are increasingly shaping the A&T landscape.
What is the CAGR for the A&T industry in India?
The forecasted CAGR for the A&T industry in India is 11.3 percent.
