GITNUX MARKETDATA REPORT 2024

Recall Statistics: Market Report & Data

In this post, we will explore a collection of compelling statistics related to product recalls, highlighting trends and insights from various industries across different countries. From the significant financial impacts of recalls to consumer behaviors and regulatory developments, these statistics shed light on the importance of effective product safety measures and quality control processes. Let’s delve into the world of recall statistics and uncover the implications for businesses and consumers alike.

Statistic 1

"In 2018, the United States Consumer Product Safety Commission reported around 301 product recalls."

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Statistic 2

"30.5% of voluntary recalls in the US are initiated by the company's internal testing, not by customer complaints or regulator inspections."

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Statistic 3

"The automotive industry in the U.S. reported about 29.3 million recalled units in the year 2020."

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Statistic 4

"In a survey, it showed that 60% of U.S. consumers will stop buying a brand entirely if it had multiple product recalls."

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Statistic 5

"In the US, only 48% of recalled electrical products are actually returned."

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Statistic 6

"Every year, there are about 900 recalls of FDA-regulated products."

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Statistic 7

"In 2020, food recalls decreased by 10% in the U.S."

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Statistic 8

"In 2019, medical device companies initiated over 1,000 recalls, representing a 30% increase over 2018."

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Statistic 9

"According to the CPSC, product recalls in the United States account for about $900 million in losses each year."

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Statistic 10

"The FDA reported 14,112 recalls in 2019, slightly down compared with 15,763 recalls in 2018."

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Statistic 11

"In 2019, 6,214,241 vehicles were involved in U.S. automotive recalls."

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Statistic 12

"In 2019, 191 food recalls were reported in Canada."

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Statistic 13

"In Australia, there were 779 recalls across all categories in the year 2019-2020."

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Statistic 14

"According to the ACCC Product Safety Report, motor vehicles recalled over 2020 were down by 39%, but still remain the second most frequent category."

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Statistic 15

"In a 2020 survey, 37% of consumers stated they had purchased a product that was later recalled."

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Statistic 16

"In the past decade, there have been over 14,000 food-related recalls in the U.S, an impactful rise from previous years."

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Statistic 17

"In 2019, 410 recalls were related to bacterial contamination in food products in the US."

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Statistic 18

"In 2014, about 233 million wanted or affected shipments were recalled in the world."

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Statistic 19

"Only 20% of recalled children's products are returned or modified."

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The statistics presented on product recalls offer a glimpse into the complex landscape of consumer safety and industry regulations. With millions of products being recalled each year in the United States alone, it is evident that companies face significant challenges in ensuring the quality and safety of their offerings. The data also highlight the economic impact of recalls, with billions of dollars lost annually due to defective products. These statistics underscore the importance of rigorous testing, transparent communication, and efficient recall processes to protect consumers and maintain trust in brands.

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