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.
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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.
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.