July 22, 2020

Global Pre-Shipment Inspection Market is valued to reach USD 14.98 Billion by 2023, exhibiting a healthy CAGR of 5.2% over the forecast period 2020-2026

The Global Pre-Shipment Inspection Market is valued to reach USD 14.98 Billion by 2023, exhibiting a healthy CAGR of 5.2% over the forecast period 2020-2026. Key factors such as rapid urbanization, rising product recalls coupled with surging piracy and counterfeiting activities are augmenting the market growth.

Pre-shipment inspection (PSI) is based on identification of goods and correct value assessment. The term is of a high relevance across packaging industry wherein a package undergoes multi-stage scanning for its quality and authenticity. As the scope of international trade expands, the counterfeit products have summed up as a multi-billion dollar economy. Therefore, to counter any malpractices while packaging, a pre-shipment inspection has become a mandate activity in the EXIM and IMEX business.

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