Indian Authentication and Traceability Market Set to Exceed £1 Billion

The Authentication Solution Providers’ Association (ASPA), in partnership with Accenture, has released its first-ever industry report, ‘Indian Traceability & Authentication Industry Study’, which projects the sector will grow at a CAGR of 11.3% to reach £1.3 billion by 2028-29.

Currently valued at £811 million (₹9,705 crore) in 2023-24, the market is expected to grow to £886 million in 2024-25. The report was unveiled at ASPA’s annual general meeting on 11 September in New Delhi, where the association also elected its new governing body for 2025–27.

Based on survey responses from 36 ASPA members and industry stakeholders, the report offers the first structured outlook on the sector’s size and growth. In India, sectors like pharmaceuticals (17%), consumer products (14%), cosmetics (13%), and automotive components (13%) are identified as primary drivers of adoption.

Authentication and tax stamps

India has strong authentication ecosystems, and brands actively use various anticounterfeiting measures. These include physical security features such as tamper-evident packaging, holograms, security inks, security labels and destructible labels. The industry also uses digital technologies, including unique serial numbers, barcodes, and QR codes, SMS-based authentication, and mobile authentication apps for supply chain traceability as well as customer loyalty programmes.