The hang tags market is predicted to be worth US$ 1,861.0 million in 2023 and rise to US$ 3,148.8 million by 2033. Demand initially expanded at a market CAGR of 3.3% between 2018 and 2022.
The increasing emphasis on environmental sustainability has spurred a growing demand for eco-friendly packaging solutions across various industries. As part of this trend, businesses are turning to sustainable materials for hang tags, recognizing their role in reducing environmental impact.
By utilizing materials such as recycled paper, organic cotton, bamboo, or biodegradable alternatives, brands can align with consumer values while maintaining their commitment to quality and branding. This shift not only addresses consumer preferences for eco-conscious products but also contributes to reducing waste and promoting a more sustainable future for the packaging industry as a whole.
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In the upcoming years, the development and use of such alternative labeling and tag solutions are likely to restrict the sale of hang tags.
Key Takeaways
- By 2033, the hang tags market in the United Kingdom is likely to expand, with a CAGR of 4%.
- In 2022, the United States dominated the hang tags market with a share of 19.1%.
- The hang tags market was significantly expanding, with a size of US$ 1,765.6 million in 2022.
- By 2033, the hang tags market in China is projected to expand, with a CAGR of 6.2%.
- In 2022, Germany expanded significantly in the hang tags business, with a share of 4.2%.
- By 2033, India is projected to grow considerably in the hang tags market, with a share of 7.7%.
- In 2022, Australia developed substantially in the hang tags business, with a share of 2.2%.
- Japan’s hang tags industry share expanded significantly, with a 9.6% share in 2022.
- In 2022, the hang/swing tag dominated the market with a share of 83.7% and is likely to hold a top spot regarding tag type by 2033.
- In 2022, clothing and apparel led the market with a share of 58.1% and is likely to dominate the market in terms of end use by 2033.
Competitors Winning Strategies
With cutting trade taxes and levies, governments in developing nations like India, China, and Indonesia, among others, are introducing measures to entice international investors to the corresponding industrial sectors and create more employment. By being able to serve them on both home and international levels, key players stand to increase the size of their designated target bases.
In many effective campaigns, customization has become a key component. Hanging tag producers emphasize fashionable and personalized hang tags to appeal to a larger audience.
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What’s on the Horizon of Leading Manufacturers in the Hang Tags Industry?
- With full-color digital printing, Vistaprint lets customers make their swing tags online and customize them with a logo, slogan, business name, contact information, or product description.
- Among the top hang tag manufacturers, St. Louis Tag Company and Signal Ltd create custom hang tags employing thermal transfer and flexo printing techniques for glossy finishes.
Key segments
By Material Type:
- Paper
- Plastic
- PVC
- PP
- PET/BOPET
- Other Composite Material
- Fabric
By Tag Type:
- Hang Tag/Swing Tag
- Loop Tag
By Printing Technology:
- Direct Thermal
- Thermal Transfer
- Flexo Printing
- Offset and Screen Printing
- Laser Printing
By End Use:
- Clothing and Apparels
- Food and Beverages
- Hospitality and Travel
- Beauty and Personal Care
- Consumer Electronics
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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