Market Research Blog

The global smoking accessories market is anticipated to garner US$ 101 Billion while expanding at a CAGR of 4.2% during the forecast period. The market is estimated at US$ 64.3 Billion in 2021 and US$ 67 Billion in 2022. Increasing adoption of organic makeup by consumers is expected to play a salient role in driving the market during the forecast period.

The demand for smoking accessories products is increasing, owing to the increasing disposable income of the consumers. The Smoking Accessories market is dominated by the lighter segment, accounting for nearly 42% share, owing to augmenting usage among the young population.

The growing culture of smoking among the young population along with an increasing number of smoking cafes and bars across various regions is propelling the market growth. The growing demand for smoking accessories in developing countries is further expected to fuel the market growth during the forecast period. Moreover, the easy availability of smoking accessories in diverse places is also contributing to market growth.

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Key Takeaways from the Market Study:

• Vaporizers to account for over 30% market revenue in the smoking accessories domain
• Sales of smoking filter and paper tips to rise at a value CAGR of 4.3% from 2022 to 2032
• Based on distribution channel, online sales of smoking accessories is estimated to record a 4% CAGR
• Asia Pacific is likely to account for the majority share of nearly 43% as of 2022
• North America is estimated to gain significant traction in the market, accumulating 38% revenue

“An exponential growth in the number of smokers and the upward trend of smoking as a style statement especially among the young population has bolstered the demand for smoking accessories,” says a FMI analyst.

Competitive Landscape

Key players in the global Smoking Accessories market include Bull Brand, BBK Tobacco & Foods, LLP, Chongz, British American Tobacco PLC, Curved Papers, Inc., Univac Furncrafts Pvt. Ltd., Imperial Brands, Republic Technologies International, Jinlin (HK) Smoking Accessories Co., Ltd, Moondust Paper Pvt. Ltd., among others. Recent key developments among players are:

• In August 2021, Philip Morris-a U.S based company acquired inhaled drug pharma firm OtiTopic as s part of its Beyond Nicotine Initiative. Phillip Morris International has been known around the world mostly for its cigarette products, with brands such as global best-seller Marlboro under its umbrella.
• In June 2022, Hempacco (HPCO), a maker of hemp-based cigarettes, has disclosed terms for a proposed $14M initial public offering. The company announced the plans on offering 3M shares priced between $4 and $6 per share, which would raise $14M if priced at the midpoint.

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More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the Global Smoking Accessories market presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights based on Type (Waterpipes Smoking Accessories, Vaporizers Smoking Accessories, Rolling Paper & Cigarette Tubes, Lighters, Filter & Paper Tip Smoking Accessories, Others) by Distribution Channel (Online Sale, Offline Sale) & Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)

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Key Segments Covered in the Smoking Accessories Industry Analysis

Smoking Accessories Market by Type:

• Smoking Waterpipes
• Smoking Vaporizers
• Rolling Paper & Cigarette Tubes
• Lighters
• Smoking Filter & Paper Tips
• Other Smoking Accessories Types

Smoking Accessories Market by Distribution Channel:

• Online Sale of Smoking Accessories
• Offline Sale of Smoking Accessories

Smoking Accessories Market by Region:

• North America Smoking Accessories Market
• Latin America Smoking Accessories Market
• Europe Smoking Accessories Market
• Asia Pacific Smoking Accessories Market
• Middle East & Africa Smoking Accessories Market

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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The global roll-your-own tobacco products market is estimated to garner US$ 44.6 Billion while exhibiting a 3.8% CAGR during the forecast period. The growing support from several governments is likely to fuel the market growth in the coming years. The industry is expected to secure US$ 30.8 Billion in 2022.

The popularity of roll-your-own tobacco products has grown in industrialised economies. The market for roll-your-own tobacco products is expanding mostly as a result of the lower health risks and lower cost of RTO tobacco.

The main factors influencing the market’s growth are expanding urbanisation and cigarettes’ increased popularity among young people. The global prevalence of smoking is changing due to rising health consciousness among the populace, which is causing a decline in tobacco sales that might impede market expansion. The worldwide market for roll-your-own tobacco products is projected to have lucrative potential in the RYO tobacco category. Numerous developing nations are making important technical advancements, creating lucrative prospects for participants.

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Key Takeaways from the Market Study:

• By product, the RYO Tobacco segment accounts for a share of 39.5% in 2022-2032
• By distribution channel, the offline segment accounts for a market share of 84.5% during the forecasting period.
• Market in UK to procure a market share of 64.5% during the assessment period
• Market in china accounts for 4.3% CAGR during the forecasting period.

“The rising disposable income and growing consumption of tobacco in women, as well as teenagers are expected to fuel the demand for roll-your-own tobacco product market over the forecast period,” says an FMI analyst.

Competitive Landscape

Key players in the global roll-your-own tobacco product market are
Imperial Brands; British American Tobacco; Scandinavian Tobacco Group A/S; Altria Group, Inc.; Philip Morris International; HBI International; Curved Papers, Inc.; Karma Filter Tips; Shine Brands; and Japan Tobacco International

Recent updates from the industry are:

• In September 2020 – JTI (Japan Tobacco International) has extended its technology partnership agreement with Sauber Engineering AG (SEN), a leading player in technology and prototype development and part of the Sauber Group of Companies. Through this partnership, both companies will continue to collaborate on the development of precision engineering projects aimed at increasing the performance of the next generation of JT Group products.
• In March 2021- BAT Group (BAT) announces a strategic collaboration agreement with Organigram Inc., to focus on research and product development activities next-generation adult cannabis products, with an initial focus on cannabidiol (CBD).
• In July 2021– Philip Morris International Inc. (PMI) announced an agreement to acquire Fertin Pharma A/S. This acquisition is a significant step forward on our journey toward delivering a smoke-free future—enhancing smoke-free portfolio, notably in modern oral, and accelerating progress beyond nicotine

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Key Segments Covered in the Roll-Your-Own Tobacco Products Industry Analysis
Roll-Your-Own Tobacco Products Market by Product:

• RYO Tobacco Products
• Roll-Your-Own Tobacco Papers & Cigarette Tubes
• Roll-Your-Own Tobacco Injector
• Roll-Your-Own Tobacco Filter & Paper Tip

Roll-Your-Own Tobacco Products Market by Distribution Channel:

• Offline Distribution of Roll-Your-Own Tobacco Products
• Online Distribution of Roll-Your-Own Tobacco Products

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global roll-your-own tobacco products market presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of product (RYO tobacco, rolling paper & cigarette tubes and injector and filter & paper tip) and by distribution channel (offline and online) across five major regions (North America, Europe, Asia Pacific, Middle East & Africa and Latin America)

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Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

2.3. Inclusions/Exclusions

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Product modifications /Innovation

4. Key Success Factors

4.1. Strategic Developments

4.2. Key regulations

4.3. Product USPs /Technology

4.4. List of Manufacturers and Providers

About the Consumer Product Division at Future Market Insights

The consumer product team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analysing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
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The global retail vending machine market is likely to secure US$ 130 Billion by 2032 while expanding at a CAGR of 9% during the forecast period. Increasing adoption of a vending machines in a large number of fitness clubs around the globe for offering their clients supplements like soft drinks, protein bars, energy drinks, and others, is anticipated to boost the demand for vending machines. As per International Health, Racquet and Sportsclub Association 2019 Report, the global fitness industry has witnessed a rise in membership of 183 million with an anticipated revenue generation of US$ 94 billion in 2019.

Increasing demand for coffee and energy drinks across various verticals is anticipated to expand use of retail vending machines. Players in the market are taking various initiatives that can drive market growth during the forecast period. For instance, in July 2022, Coca-Cola announced the launch of a revolutionary new coffee machine. The company will be focusing on its coffee vending machines called “Costa Smart Cafes”. Such factors are likely to boost the retail vending machine market in the forecast period.

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On the contrary, high expenses associated with such equipment is anticipated to hamper the market during the forecast period. The equipment demands high maintenance, and a high risk of robbery, which is likely to limit the industry growth during the forecast period. However, the growing demand for vending machines in various spaces, from offices to high-end restaurants, and crowded bars to public places, are expected to counter the hampering factors and drive the growth of retail vending machine market.

Key Takeaways from the Market Study:

• By payment mode, cash based retail vending machines to hold 74% of the global market share in 2022
• The global retail vending machine is projected to have held about US$ 51 Billion in 2021
• By type, beverage retail vending machines to secure about 43% of the global market share in 2022
• The global retail vending machine market is expected to secure US$ 55 Billion in 2022
• North America to account for 31% of the retail vending machine industry revenue in 2022
• Asia Pacific to emerge as the primary revenue powerhouse, expanding at a 9.6% CAGR by 2032

“With the global retail industry continuing to flourish, there is a flurry of demand for a wide range of consumer products, ranging from food & beverage items to apparel. This has prompted retailers to increase deployment of vending machines, providing customers with the ease of selecting products of their own choice,” says an FMI analyst.

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Competitive Landscape

Key players in the global retail vending machine market include Azkoyen Group, Cantaloupe Systems, Westomatic Vending Services Limited, Royal Vendors, Inc., Glory Ltd., Sanden Holding Corp., Seaga Manufacturing Inc., Orasesta S.p.A, Sellmat s.r.l., and Fuji Electric Co., Ltd. Recent developments in the industry include:

• In July 2022, Azkoyen Group, a Spanish vending machine manufacturer has acquired Barcelona-based espresso machine manufacturer Ascaso. Azkoyen Group said that the acquisition will provide a new leadership position in the premium coffee segment. The company’s coffee business currently accounts for 75% of turnover for its coffee and vending division.
• In October 2021, Dominus Capital and affiliates have completed their investment in Seaga Manufacturing, Inc. Seaga’s customized offering allows customers to enhance inventory management, demand planning, inventory costs, and shrinkage, all while providing safer products access.

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global retail vending machine market, presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of Type (Food, Beverage, Games/Amusement, Tobacco, Candy & Confectionery Retail Vending Machine, Beauty & Personal Care Retail Vending Machine, Ticket Retail Vending Machine, Others) by Payment Mode (Cash, Cashless), by Application Outlook (Commercial Places, Offices, Public Places, Other Places), & Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America)

About the Consumer Product Division at Future Market Insights

The consumer product team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

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Key Segments Profiled in the Retail Vending Machine Market Report

Retail Vending Machine Market by Type:

• Food Retail Vending Machine
• Beverage Retail Vending Machine
• Games/Amusement Retail Vending Machine
• Tobacco Retail Vending Machine
• Candy & Confectionery Retail Vending Machine
• Beauty & Personal Care Retail Vending Machine
• Ticket Retail Vending Machine

Retail Vending Machine Market by Payment Mode:

• Cash Retail Vending Machine
• Cashless Retail Vending Machine

Retail Vending Machine Market by Application:

• Retail Vending Machine for Commercial Places
• Retail Vending Machine for Offices
• Retail Vending Machine for Public Places
• Retail Vending Machine for Other Applications

Retail Vending Machine Market by Region:

• North America Retail Vending Machine Market
• Europe Retail Vending Machine Market
• Asia Pacific Retail Vending Machine Market
• Latin America Retail Vending Machine Market

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs

The global packaging films market is estimated at US$ 143.7 billion in 2022 and is projected to reach US$ 209.7 billion by 2032, at a CAGR of 3.9% from 2022 to 2032 . The polyethylene (PE) film segment accounts for almost 36% share of the global packaging films market. The food industry is expected to remain the top end user of the packaging films market through 2032.

Key Takeaways from Packaging Films Market

• The polyethylene (PE) films represented 35% of packaging films market in 2021.
• Demand for packaging films in the food industry will grow at a CAGR of 4.2% between 2021 and 2031.
• India packaging films market is projected to register a CAGR of 5.6% during the forecast period followed by China with a CAGR of 4.2%.
• China will continue to remain the largest market with a market. It held a share of 22% in 2021.

“Innovations are expected to pick up pace in the packaging films market. With stringent bans on single-use plastic use, the focus on recyclable materials will grow higher. Likewise, packaging film producers are expected to focus on more sustainable materials to stay ahead of the curve,” said a lead FMI analyst.

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Packaging Films Market Landscape

Berry Global, Mondi Group, Ampac Holdings, LLC., Huhtamaki Oyj., Smurfit Kappa, WestRock Company are some of the Tier 1 players of global packaging films market.

Key manufacturers operating in the packaging films market are focusing on producing lighter-weight, durable and sustainable products. Several mergers & acquisitions and innovations are taking place in the industry as there is synergy in forward as well as backward integration. · Recently in March 2022, Clearlake Capital has agreed to acquire Intertape Polymer Group. Intertape is one of the leading manufacturers of packaging films and many other products. Through this acquisition the company is planning to extend production capabilities of tapes and shrink films and increase industrial and retail customers.

• In March 2022, BASF and a Germany located packaging films manufacturer DuoPlast launched world’s first stretch PE blown film for potential use in the explosive areas.

Global packaging films market by material type (polyethylene, polypropylene, polyethylene terephthalate, polyvinyl chloride, polyamide, ethyl vinyl alcohol, polyvinyldiene chloride, bioplastics, and others), by product type (pouches, bags & sacks, tubes, liners, sachets & stick packs, tapes & labels, and wraps/rolls), by end-use (food, beverages, homecare products, personal care products, healthcare products, electronics & electrical, and other industrial goods) across seven regions.

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Competitive Landscape

Best packaging experience and user convenience are the prime concerns of the key players. Therefore, many of the key players are adopting strategy of product innovation and make their products more eye-catchy and acceptable among consumers. Not only this, manufacturers are also planning to expand production capabilities in the untapped markets to cater increasing demand for packaging films.

Key manufacturers operating in the packaging films market are focusing on producing lighter-weight, durable and sustainable products. A lot of innovations are coming up in this domain to make packaging more sustainable and functional.

Some of the key developments in the global packaging films market includes:

• In February 2022, Coveris launched next generation stretch films with 30% recycled content to minimize reliance on virgin plastic films for packaging.
• In January 2022, B2B Industrial packaging acquired Pioneer packaging worldwide. Through this acquisition, the company is planning for increasing consumer reach specially in the untapped markets.
• In September 2021, Amcor, ExxonMobil and Syntegon India together developed recyclable polyethylene laminating film based detergent packaging solution to replace existing PET/PE packaging.
• In January 2021, Jindal films acquired Domo Chemicals’ nylon films business. This acquisition will support company’s growth by increasing production capacity of nylon films.

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Packaging Films Market By Category

By Material Type, Packaging Films Market is segmented as:

• Polyethylene (PE)
• Polypropylene (PP)
• Polyethylene Terephthalate (PET)
• Polyvinyl Chloride (PVC)
• Polyamide (PA)
• Ethyl Vinyl Alcohol (EVOH)
• Polyvinyldiene Chloride (PVDC)
• Bioplastics
• Others

By Product Type, Packaging Films Market is segmented as:

• Pouches
• Bags & Sacks
• Tubes
• Liners
• Sachets & Stick Packs
• Tapes & Labels
• Wraps/Rolls

By End Use Packaging Films Market is segmented as:

• Food
  • Meat, Seafood and Poultry
  • Ready to Eat Meals
  • Dairy Products
  • Bakery and Confectionery
  • Other Food Products
• Beverages
  • Alcoholic Beverages
  • Non-Alcoholic Beverages
• Homecare Products
• Personal Care Products
• Healthcare Products
• Electronics & Electricals
• Other Industrial Goods

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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
Report:
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
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With the increasing sales of multiwall bags in recent years, the packaging business has seen substantial expansion. As per Future Market Insights (FMI), the multiwall bags market will grow by 4.4% between 2022 and 2032, reaching US$ 23 Bn by the end of the forecast period.

The need for multiwall bags is growing for packaging in fertilizer, textile, and cement industries. Furthermore, consumers are becoming more environmentally conscious, which has boosted the market for multiwall bags. Various layers of kraft paper are used to make multiwall bags.

To prevent contamination, the inner layer of the multiwall bags is specifically coated and laminated. Multiwall paper bags are becoming increasingly popular as a result of the ability to customize the product for promotional purposes.

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Since many organizations do not consider regular plastic for packaging, rise of organized retail such as supermarkets and hyper markets will create prospects for sales of multiwall bags. The consistently expanding need for grain crops is fuelling the demand for fertilizers, especially in emerging nations, which is driving multiwall bags sales.

Key Takeaways from Global Multiwall Bags Market

• Multiwall bags market value will surpass US$ 14. 9 Bn in 2022
• APAC is projected to continue dominating the global market for multiwall bags.
• Food sector to remain primary end user of multiwall bags.
• Demand for multiwall bags in the U.S. will grow by 3%.
• Multiwall bags sales in India will pick up by 5.9% CAGR in India between 2022 and 2032.

“Eco-friendly paper-based multiwall bags packaging is expected to gain traction across various industries due to consumer preference for biodegradable packaging material and increasing emphasis towards environmental protection,” – said an FMI analyst

Global Multiwall Bags Market Landscape

• Sonoco Products Company,
• Novolex,
• Wellform Packing Group Co., Ltd.,
• Inteplast Group,
• ProAmpac LLC,
• Berry Global, Inc.,
• Nihon Matai Co., Ltd.,
• Gilchrist Bag Manufacturing LLC,
• Alpha Poly Corporation,
• Mondi Group,
• Klabin,
• Ross & Wallace Paper Products, Inc.,
• Cromwell Polyethylene Ltd.,
• Segezha Group LLC,
• Seevent Plastics Ltd.,
• Wooderson Packaging Ltd.,
• LC Packaging International BV,
• PH DOBIS Sp. z o.o.,
• Muscat Polymers Pvt. Ltd.,
• Detpak

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Demand for Packed Food Creating Prospects for Multiwall Bags Sales

The global multiwall bag market is looking at steady growth owing to the rising demand for packaged food products. Another important element driving the multiwall bag market growth is the demand for creative and sustainable packaging solutions.

Furthermore, the steadily expanding need for grain crops is resulting in high demand for fertilizers, particularly in emerging nations, which is driving demand for multiwall bags and is likely to drive the market through the forecast period.

Global Multiwall Bags Market By Category

By Material, Global Multiwall Bags Market is Segmented as:

• Plastic
• Paper

By Capacity, Global Multiwall Bags Market is Segmented as:

• Up to 5Kg
• 6Kg to 10Kg
• 11Kg to 25Kg
• Above 25Kg

By End use, Global Multiwall Bags Market is Segmented as:

• Food
• Chemical & Fertilizers
• Building & Construction
• Automotive
• Other End Use

By Region, Global Multiwall Bags Market is Segmented as:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Middle East & Africa
• Oceania

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Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

1. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

1. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Scenario Forecast

3.2.1. Demand in Optimistic Scenario

3.2.2. Demand in Likely Scenario

3.2.3. Demand in Conservative Scenario

 

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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
Report: https://www.futuremarketinsights.com/reports/multiwall-bags-market
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
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Usage of tags has been drastically increased in brand promotions of products through printing technology. Future Market Insights (FMI) has forecast the tags market to grow by 5.2% CAGR between 2022 and 2032.

Custom printing of bar codes help consumer to track products as per the information in accordance with their needs. Quality of printing on tags provide a more aesthetic look to attract customers towards the product.

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Loop, RIFD tags on food & beverage, electronics & electrical, and clothing & apparel provide an extensive edge towards brand promotion. Moreover, easy accessibility of ease in printing technology will provide impressive opportunities for design and manufacture of tags over forecast period.

FMI has forecast that the demand and sales of tags will be definite and in increasing order. Factors such as increase middle class family income, increase in millennial generation’s e-commerce expenses, convenience factor coupled with advance tracking processes will exponentially increase the tags sales globally.

Key Takeaways from Tags Market

• By material type, the plastic segment accounts for the leading share of 43% in the global tags market.
• On basis of tag type, RFID tags will remain more preferred due to their durability and ease in inventory & asset management. The segment is anticipated to increase 1.8 times during next 10 years.
• In terms of end use, the clothing & apparel segment will create incremental opportunity of US$ 2,444.1 Mn because of the rise in disposable income of middle class families in emerging economies.
• South Asia and East Asia collectively are expected to register maximum growth rate of 7.2% and 6.5%, respectively by 2032.

“The usage of RFID tags is increasing rapidly across the globe. Their application especially in consumer electronics has created abundant opportunities for tags manufacturers. Increasing emphasis on ease in logistical and inventory management is anticipated to redefine the tags market growth” says FMI analyst.

Increase in Demand for RFID Tags to Increase Sales in Market

In the last decade, usage of RFID tags has drastically increased in the consumer electronics segment. They have been proven quite useful & handy when it comes to logistical management.

RFID tags are a type of tracking system which uses radio frequency to track, search, communicate and track with items or people. RFID tags are known as smart labels, as they easily store a ton of varied range of information like a short description, serial numbers or even pages of data.

Due to usage of low, high & ultra-high radio frequencies in market to identify shoplifters and other risks to different merchandise which in turns uplifts the revenue generation.

Nowadays, usage of RIFD tags have seen an increase in end use industries such as clothing & apparel and cosmetics. This trend is exponentially increase the demand for RFID tags which helps in asset management. This will result an increase in the demand of RFID tags over the forecast period.

Tags Market Landscape

Dortex Werbung und Vertrieb mbH, Zebra Technologies Corp., Honeywell International, Sato Holdings Corp., Finotex USA Corp., CCL Industries Inc., Pacific Coast Bach Label Inc., NXP Semiconductors, Confidex Ltd., GAO RFID Inc., HID Global Corp. are also the noticeable players in the tags market. The Tier 3 players in the market hold 65-70% in the global tags market. In conclusion, key players contribute almost 30-35% of the global market.

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https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-14347

Tags Market By Category

By Material Type, Tags Market is segmented as:

• Plastic
• Paper
• Fibers
• Others (Metal, etc.)

By Tag Type, Tags Market is segmented as:

• RFID Tag
• Hang/ Swing Tag
• Loop Tag

By End Use, Tags Market is segmented as:

• Food & Beverage
• Clothing & Apparels
• Hospitality & Travel
• Beauty & Personal Care
• Consumer Electronics
• Others

By Region, Tags Market is segmented as:

• North America
• Latin America
• Europe
• Middle East and Africa (MEA)
• East Asia
• South Asia
• Oceania

Tags Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global tags market, analyzing historical demand from 2015-2021 and forecast statistics for 2022-2032. The study reveals growth projections on the tags market on the basis of material type (plastic, paper, fibers, others (metal, etc.)), tag type (RFID tag, hang/ swing tag, loop tag), and end use (food & beverage, clothing & apparels, hospitality & travel, beauty & cosmetic care, consumer electronics, etc.) across seven regions.

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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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