Dublin, Sept. 12, 2023 (GLOBE NEWSWIRE) -- The "Apparel Footwear And Leather Goods AFL Testing Inspection And Certification TIC Market, By Service Type By Industry - Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The Global Apparel, Footwear, and Leather Goods (AFL) Testing, Inspection, and Certification (TIC) Market study focuses on various aspects of testing services, third-party audits and inspections, and certification services in the apparel, footwear, and leather goods industries.
The market is driven by factors such as increasing disposable income and rapid urbanization in emerging economies, which are propelling the demand for TIC services in these industries.
Market Dynamics
- Increasing Disposable Income and Urbanization: Emerging economies like India and China are experiencing rapid urbanization and growing disposable incomes. As a result, there is an increased demand for products in the textile, footwear, and other sectors. This higher demand drives the manufacturing of goods and subsequently increases the need for testing, inspection, and certification services to ensure product quality.
- Environmental Impact and Sustainability: The demand for environmentally friendly and sustainable products is growing, leading to increased attention on TIC services that verify and certify the environmental impact of goods. This trend is driven by consumer preferences for sustainable and ethical practices.
- Supply Chain Management and E-commerce: The growth of e-commerce and online retail has created a demand for effective supply chain management and product authentication. TIC services are being used to ensure transparency and traceability in supply chains, especially for the online retail sector.
- New Materials and Technologies: The introduction of new materials like vegan leather alternatives requires specialized testing and certification. Additionally, technologies like blockchain and digital tracking systems are being used to enhance traceability and transparency in supply chains, creating new opportunities for TIC services.
Key Features of the Study
- The report provides an in-depth analysis of the Global AFL TIC market size and compound annual growth rate (CAGR%) for the forecast period (2023-2030).
- It explores potential revenue opportunities across different segments and provides investment proposition matrices for the market.
- The study covers market drivers, restraints, opportunities, new product launches, regional outlook, and competitive strategies adopted by leading players.
- Leading players profiled in the report include Intertek Group plc., Bureau Veritas SA, TUV Rheinland Group, SGS S.A., Underwriters Laboratories Inc., TUV SUD, CTC Groupe, Eurofins Scientific, QIMA, and Hohenstein.
Detailed Segmentation
- The market is segmented by service type, including testing services (chemical testing, physical testing, colorfastness testing, and others), third-party audits and inspection services, and certification services.
- It is also segmented by industry, covering footwear, apparels, and leather goods.
- Geographical segmentation includes North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Market Dynamics
- Drivers:
- Increasing Consumer Demand for Quality and Safety
- Growing Focus on Sustainability and Ethical Practices
- Restraints:
- High Cost of TIC Services
- Rapidly Changing Regulatory Landscape
- Opportunities:
- Increasing Awareness regarding Sustainability
- Emerging Markets and Global Expansion
Conclusion
The Global AFL TIC Market is experiencing growth driven by factors like rising disposable income, urbanization, and the demand for sustainable and quality products. TIC services play a crucial role in ensuring product quality, supply chain transparency, and sustainability. The emergence of new materials and technologies further expands the scope of TIC services in these industries. The market presents opportunities for both established and emerging players to provide essential services that cater to consumer preferences for quality, safety, and sustainability.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 160 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $5560.2 Million |
| Forecasted Market Value (USD) by 2030 | $7981.5 Million |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/omrqmy
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