Hang tags are now used in a variety of businesses outside textiles and apparel, including food, hospitality and travel, and beauty and personal care. This will enable sales in the hang tag market, according to a study by Future Market Insights (FMI). By 2021, the market is expected to be worth US$ 1.7 billion. Hang tags are a popular label/tag solution that are typically used with or affixed to goods to display information about the item. Hang tags are also seen to be a good way to brand products and give them a nice appearance.
There are various types of hang tags available, including those made of paper, fabric, and plastic. Paper hang tags, in particular, are in high demand. Shifting millennials’ purchasing habits from brick-and-mortar to online shopping has raised clothes and apparel sales significantly, and this will be one of the primary drivers driving the hang tag industry. The clothing and apparel industry’s rising demand will continue to fuel expansion. In 2021, it is estimated to account for more than 60% of market sales.
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Who is Winning?
- CCL Industries Inc,
- Sato Holdings Corporation ,
- Nilorn Group
are the top players operating in the hang tags market. Furthermore,
- St. Louis Tag Company,
- Bornemann-Etiketten GmbH,
- WunderLabel Company,
- Dortex Werbung und Vertrieb mbH, F
- inotex USA Corporation and
- Pacific Coast Bach Label Inc
are also the noticeable players in the hang tags market. The Tier 3 players in the market hold 80-85% in the global hang tags market. In conclusion, key players contribute almost 15-20% of the global market.
Key Takeaways from Hang Tags Market
- After a period of lackluster sales, hang tags market will register 5.2% CAGR between 2021 and 2031
- The U.S. will remain the chief hang tags market in North America, accounting for over 80% of sales
- Expansion of beauty and personal care industry will aid growth in the U.K.
- Presence of a growing textile industry will drive the India market for hang tags
- Increasing demand from food and beverages sector will support growth in China
“Incorporation of eye catchy printings on hang tags coupled with smooth finishing make them exceptional brand communicators with target audience. Emergence of hang tags as an effective medium of interaction between item and customers has catapulted its popularity among the brand owners. This popularity for hang tags among the brand owners has transformed into lucrative opportunities for hang tags manufacturers” says FMI analyst.
Printing on Hang Tags to Elevate Brand Image of Product
Leading as well as small food & beverages, beauty and personal care, clothing and apparel industry players across the globe are preferring labelling solutions such as hang tags, loop tags, and swing tags for brand promotion and attract end-use customers. Printing on hang tags with precise product information helps brand owners to differentiate their products from competitor’s products already available in the market.
Hang tags can be printed with several printing options such as flexo printing, direct thermal and thermal transfer, and others as per the requirement. These custom printing options able to print all sorts of prints on hang tags starting from barcodes to track your product to any other form of information as per the customer needs. Quality of print on hang tags plays a pivotal role in hang tags aesthetic look and its finishing.
Such printing on hang tags improves the overall look of hang tags and make it attractive and it also gains the attention of consumer towards the product. Availability of such advanced printing options is offering several opportunities to hang tags manufacturers to design and manufacture more attractive and catchy hang tags to attract a major portion of customers in the market.
Impact of COVID-19 on Hang Tags Market
Global wave of COVID-19 pandemic has induced moderate impact on the sales of hang tags in the market. Substantial portion of demand for hang tags is derived from clothing & apparels, hospitality and travel and food & beverages sectors. Stringent lockdown in several regions including North America, Europe and Asia has created negative impact on these industries in terms of demand and supply.
Lesser demand generation for hang tags from these industries resulted in stagnant market growth for hang tags amid the COVID-19 period. Furthermore, the second wave of pandemic in some countries, halt the production of manufacturers including hang tags producers which will further limit the sales of hang tags for certain period. Nevertheless, factors such as recovery from outbreak, revised demand & supply of raw materials in production plants is estimated to fuels the sales of hang tags in the later part of 2021.
Hang Tags Market by Category
- Other Composite Material
- Hang Tag/Swing Tag
- Loop Tag
- Direct Thermal
- Thermal Transfer
- Flexo Printing
- Offset and Screen Printing
- Laser Printing
- Clothing and Apparels
- Food and Beverages
- Hospitality and Travel
- Beauty and Personal Care
- Consumer Electronics
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa (MEA)
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