Anticounterfeit clothing packaging market is expected to witness significant growth over the forecast period, anticounterfeit clothing packaging market is segmented on the basis of technology and regions, North America holds highest share for anticounterfeit clothing packaging market
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The increasing incidents of forging have become a matter of concern for original clothing manufacturers across the world. The practice of counterfeiting has been resulting in inestimable perceptible and imperceptible losses for the global clothing industry.
Counterfeiting not only affects the revenue of these companies but also affects the end-users. Clothing industry players across the globe are unceasingly taking steps to curb the penetration of counterfeit products in their supply chain.
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The poor product quality of these counterfeit clothing products poses several problems for consumers relating to skin irritation, colour fading after wash, etc., which consequently lead to the deterioration of the brand image of the concerned apparel company.
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Counterfeiting practice affects the company’s gross revenue and results in immense long term damage to its credibility in the market, which further impacts its marketing strategy severely. Every year, significant amount of losses are incurred by the operating players due to the usage and sale of counterfeit products in the global clothing industry.
The anti-counterfeit clothing packaging technology has emerged as an efficient solution for detecting counterfeit clothing products globally. The main reason why the clothing industry is being severely affected by counterfeit products is that these products are easily available and are found virtually everywhere in the local market.
In view of the rise in the number of clothing counterfeit cases, the anti-counterfeit clothing packaging market is expected to witness significant growth over the forecast period of 2016-2024.
Several innovative technologies with ease-in-access and operational excellence are making foray into market for verification and authentication of the original clothing products. Manufacturers are increasingly adopting these technologies, which is further propelling the demand for anti-counterfeit clothing packaging globally.
Growing use of highly proficient RFID technology is one of the most significant factors that is fueling the overall growth of anti-counterfeit clothing packaging market globally. Due to these reasons, the global anti-counterfeit clothing packaging market is anticipated to grow at a significantly higher growth rate over the forecast period.
Due to the best value utilization of their money spent on clothing products, consumers are getting increasingly aware about forged or counterfeit products and also about the anti-counterfeit technologies. Government is also becoming more conscious about imposing regulations with a view to completely eliminate the sale of counterfeit clothing products in the market.
This makes global companies optimistic about investing in advanced anti-counterfeit technologies. Market players are actively working with various government organizations synergistically to counteract against forged clothing products.
This approach is further expected to provide a substantial platform for the growth and development of the global anti-counterfeit clothing packaging market in the coming years.
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Intense capital expenditure is required for setting up anti-counterfeit technology systems. This factor restrains majority of the market players from adopting the anti-counterfeit clothing packaging.
Proper utilization of anti-counterfeit clothing packaging also impacts the product distribution system and supply chain network of the companies, which is also expected to hinder growth of anti-counterfeit clothing packaging market, globally, in the coming years.
The global anti-counterfeit clothing packaging market is segmented on the basis of technology and regions. On the basis of technology, the market is segmented into authentication packaging technology and track and trace packaging technology.
The authentication technology segment is further sub-segmented into ink & dyes, holograms, watermarks, and taggants. The track and trace packaging technology segment is sub-segmented into barcode technology and RFID technology.
Geographically, the global anti-counterfeit clothing packaging market is segmented into seven main regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Middle East & Africa, and Japan. North America, followed by Europe, are expected to account for the largest share of the global anti-counterfeit clothing packaging market due to high awareness.
The Asia-Pacific region, which is rapidly establishing its footprints as a market for high-end & value added branded clothing products, is also expected to grow at a significant rate, thereby contributing to the overall growth of the global anti-counterfeit clothing packaging market over the forecast period.
Some of the key players covered in this study on the global anti-counterfeit clothing packaging market are Zebra Technologies, Alien Technology Corp., AlpVision, Avery Dennison Corp., SICPA HOLDING SA, Microtrace, LLC, and Impinj, Inc.
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