Apparels, Footwear, and Leather Goods (AFL) Testing, Inspection, and Certification (TIC) Market to Surpass US$ 7,832.4 Million by 2027

The global apparels, footwear, and leather goods (AFL) testing, inspection, and certification (TIC) market was valued at US$ 4,637.6 Mn in 2017 and is expected to exhibit a CAGR of 5.1% over the forecast period to reach US$ 7,832.4 Mn in 2027. Europe accounted for the largest revenue share in the global apparels, footwear, and leather goods (AFL) testing, inspection, and certification (TIC) market in 2018, according to Apparels, Footwear, and Leather Goods (AFL) Testing, Inspection, and Certification (TIC) Market Report, By Service Type (Testing Services (Chemical Testing, Physical Testing, Colorfastness Testing, and Others), Third Party Audits and Inspection Services, and Certification Services), By Industry (Footwear, Apparel, and Leather Goods), and By Region (North America, Europe, Asia Pacific, Latin America, the Middle East and Africa), published by Coherent Market Insights.

Apparels, footwear, and leather goods (AFL) testing, inspection, and certification (TIC) market report analyzes market based on industries such as apparels, footwear, and leather goods. According to Coherent Market Insights’ analysis, apparels segment held the largest share in 2018 in the apparels, footwear, and leather goods (AFL) testing, inspection, and certification (TIC) market, owing to increasing disposable income, rapid urbanization, and significant growth of the apparels industry in emerging economies.

TIC service providers are offering technical expertise in leather technology and restricted chemical substances in various countries in order to expand their testing laboratories across the globe. TIC service providers are also engaged in expanding their consumer base, owing to increasing demand for high quality products. For instance, in November 2017, SGS S.A., a testing, inspection and certification service provider, expanded its textile and footwear testing facilities in Bangladesh. Increasing demand for leather and textile sourcing in Bangladesh, has led to expansion of facilities that can offer chemical testing services to both local and international clients.

Moreover, key players in the TIC market are also focusing on expanding their market presence in the clothing industry through strategic acquisitions. For instance, in December 2015, Bureau Veritas acquired CERTEST, an Italy-based leather and apparel testing laboratory. Through this acquisition, Bureau Veritas has reinforced its market footprint in Italy, which has the presence of leading manufacturers of footwear, apparels, and leather goods.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/apparels-footwear-and-leather-goods-afl-testing-inspection-and-certification-tic-market-3038

Browse 40 market data tables* and 50 figures* on “Global Apparels, Footwear, and Leather Goods (AFL) Testing, Inspection, and Certification (TIC) Market” – Global forecast to 2026.

Key Takeaways of the Market:

  • In 2018, Europe’s apparels, footwear, and leather goods (AFL) testing, inspection, and certification (TIC) market generated revenue of US$ 1,811.2 Mn and is expected to reach US$ 2,905.0 Mn by 2027, witnessing a CAGR of 5.2% over the forecast period. Increasing implementation of REACH regulations (European Union Regulation) regarding registration, evaluation, authorization, and restriction of chemicals that affect consumer products with regard to substance authorization according to Annex XIV or restriction according to Annex XVII has resulted in increasing demand for testing and inspection services in this region. Other rules and regulations such as substances of very high concern (SVHC) notification according to Article 7 or declaration according to Article 33 are also increasing demand for TIC services in this region.
  • Furthermore, various major market players such as SGS Group (Switzerland), Intertek Group plc. (U.K.), and TÜV SÜD (Germany) are focusing on business expansion strategy to broaden their product portfolio and geographical presence, which is expected to drive growth of the Europe apparels, footwear, and leather goods TIC market. For instance, in March 2019, TÜV SÜD expanded its services on Amazon’s Solution Provider Network (SPN) as Compliance Solutions Provider. Sellers listed on Amazon can now leverage TÜV SÜD’s expertise of testing and certification to deliver quality products and meet safety standards.
  • Key players are adopting various strategies to strengthen their market position including mergers & acquisitions, and product launches. For instance, in October 2018 Bureau Veritas SA launched InSpec-BV.com (InSpec by BV), an e-commerce platform for its quality management services. Through this platform, customers can verify in-line and post production quality, and production readiness to mitigate risks of customer dissatisfaction and shipment delays. Major players operating in the global apparels, footwear, and leather goods (AFL) testing, inspection, and certification (TIC) market include Intertek Group plc., Bureau Veritas SA, TUV Rheinland Group, SGS S.A., Underwriters Laboratories Inc., TÜV SÜD, CTC Groupe, Eurofins Scientific, QIMA, and Hohenstein.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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