Clothing sector ready to embrace track-and-trace

Clothes rackA new market research report has suggested the market for anti-counterfeit packaging in the clothing and accessories sector will reach $20.5bn by 2020, with track-and-trace technologies leading the charge.

The study from Allied Market Research (AMR) predicts security labels will become a standard component of clothing packaging and the track-and-trace category will grow 11.5 per cent every year over that period, ahead of the overall market rise of 9.9 per cent.

"Within the track and trace technologies market, barcode will continue to be the highest revenue-generating segment through 2020," says the study.

The full text of the press release can be seen below:

Anti-counterfeit clothing and accessories packaging market is expected to reach $20.5bn globally by 2020

A new report by Allied Market Research titled Global Opportunity Analysis and Forecast for Anti-Counterfeit Clothing and Accessories Packaging Market, 2014 -2020 Market forecasts the global anti-counterfeit clothing and accessories packaging market to grow at a CAGR of 9.9 per cent during 2015-2020.

Track and trace technology would be the fastest growing segment registering a CAGR of 11.5 per cent from 2015 to 2020. Barcode segment led the global track and trace technology market with about 74 per cent market share in 2014.

Anti-counterfeit labelling 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.

Key finding of the study

- 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; and
- Asia-Pacific is projected to be the fastest growing market at CAGR of 10.9 per cent during 2015-2020

North America and Europe collectively held about 84 per cent 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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