Clothing and fashion accessories accounts for significant share of counterfeiting with over 10% of world trade in fashion is estimated to be counterfeit. According to the World Customs Organizations, in Europe counterfeit fashion leads to losses of about $8 billion in value. Moreover, the potential counterfeiting of clothing & accessories would rise further with fast growing fashion goods sales through E-commerce, which now accounts for about 25% of overall fashion goods sales in 2014. It is estimated that the number of counterfeit goods sold online will surpass the number sold by street vendors.
Portland, OR -- (SBWIRE) -- 06/16/2017 -- Anti-Counterfeit Clothing and Accessories Packaging Market Report, published by Allied Market Research, forecasts that the global market is expected to $20.5 Billion by 2020, registering a CAGR of 9.9% during the period 2015-2020. Track and trace technology would be the fastest growing segment registering a CAGR of 11.5% from 2015 to 2020. Barcode segment led the global track and trace technology market with about 74% market share in 2014.
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Anti-counterfeit labeling has a potential to become standard part of garments packaging process thereby boosting brand protection. In order to secure high-end luxury products, track and trace technologies is regarded as one of the promising solutions. Within the track and trace technologies market, Barcode will continue to be the highest revenue-generating segment through 2020. This technology would gain further momentum owing to its economic pricing compared to other track and trace technologies. However, consumer reluctance to the adoption of anti-counterfeit technologies owing to its extra cost, and high cost of real-time tracking (RFID) are some of the factors impeding the growth of anti-counterfeit technologies in fashion and luxury goods industry. Growing demand for multi-layered authentication technologies especially in securing premium fashion accessories, is providing a boost to the conventional anti-counterfeit technologies. Hologram + ink and dyes is one of the popular approaches adopted for clothing product authentication.
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Key Finding of Anti-Counterfeit Clothing and Accessories Packaging Market:
-Hologram authentication technology segment is expected to witness a stable growth over the forecast period
-North America would continue to lead the global market throughout the forecast period closely followed by Europe
-Asia-Pacific is projected to be the fastest growing market at CAGR of 10.9% during 20152020
North America and Europe collectively held about 84% of the total revenue in 2014. These regions have the highest number of consumers of anti-counterfeit technologies used in clothing industry due to presence of high brand preference environment. Higher adoption rates of track and trace technologies by the manufacturers and active measures from anti-counterfeit trade associations largely contribute to the growth of market in these regions. Asia-Pacific would be the fastest growing region, largely supplemented by small-scale clothing industries seeking to establish their brand image in the local market.
Leading players operating in this market are adopting product launch as their key developmental strategy. Key players profiled in this report are Alien Technology Corp., AlpVision, Zebra Technologies Corp., Avery Dennison Corp., Microtrace Solutions, Impinj Incorporation, Applied DNA Science Inc., Brand Integrity International and RDS Labels.
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