The market in fake goods may reach the $2 trillion mark (£1.146 billion) in 20 years, reports The Times. According to the US Chamber of Commerce, which represents 3 million US businesses, the $500 billion global counterfeit market is growing rapidly as pirates become increasingly skilled at copying branded goods such as designer handbags.

"There was a time when buying counterfeit goods meant getting Nike sneakers with the brand spelt with a Q or something, but not today," said David Hirschmann, vice-president of the Chamber of Commerce. "I have seen executives of major branded goods companies unable to tell between their products and those seized from counterfeiters."

Counterfeiting operations in countries like China and Brazil employ tens of thousands of people at manufacturing plants that would rival those of conglomerates like Sony. Their representatives visit trade shows where they acquire samples of the latest models to replicate. Sometimes the fakes therefore hit the stores before the genuine article, writes The Times. "James Kilts, the chief executive of Gilette, once said to me that if you are not constantly worried about counterfeiters, you probably don't have a very good product, that's how bad it is," Hirschmann said.