The global hangers’ market size is expected to be valued at USD 483.4 Million in 2022. Hangers are an essential domestic commodity that have permeated into almost every section of society, leading to a robust and growing global hangers market. The overall demand for hangers is projected to grow at a CAGR of 8.0% between 2022 and 2032, totalling around USD 1,043.6 Million by 2032.
| Data Points | Key Statistics |
|---|---|
| hangers Market Value 2022 | USD 483.4 Million |
| hangers Market Projected Value (2032) | USD 1,043.6 Million |
| hangers Market CAGR (2022 to 2032) | 8.0% |
Hangers are essentially designed after human shoulders and meant to keep clothes such that the onset of creases is prevented; they also allow for easy access. There are various types of hangers available in the market such as regular clothes hangers, clip hangers with single or multiple clamps, foldable hangers and stacking hangers.
They may come in various sizes to accommodate children’s clothing, and may also be designed specifically for skirts and trousers. Often, designer wall hooks are also classified as hangers.
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From 2016 to 2021, sales witnessed significant growth, registering a CAGR of 7.5%. Hangers, also called clothes hangers of coat hangers, can be made out of various materials such as plastic, steel (sometimes referred to as wire hangers) and wood; they are often made with a combination of these materials.
Certain hangers also have a padding of other materials like satin, nylon, wool, velvet or cotton to give it a more luxurious feel. Hangers are mainly used in homes, classified under the residential or domestic segment. They are also used commercially by the retail sector in clothes shops and by the hospitality sector in hotels, hostels and dormitories.
As a result, the global demand for hangers is projected to increase at a CAGR of 8.0% during the forecast period between 2022 and 2032, reaching a total of USD 1,043.6 Million in 2032, according to a report from Future Market Insights (FMI).
Booming Retail and Hospitality Sector to Propel Growth
While hangers have been an integral part of the domestic setting for decades, the booming retail and hospitality sector in the past few years has led to substantial growth in the hangers market even as demand from the residential segment showed a marginal increase.
Growth in the commercial segment of the hangers market has also led to a growth in sales of high-end hangers with a greater focus on style and design; this growth has mainly been on account of uptake in the retail sector.
A recent trend observed in the hangers market has been a preference for wooden hangers and a corresponding downslide in the demand for plastic hangers. This can be attributed to increased awareness of the environmental hazards of non-degradable plastic. Metal or wire hangers however remain a key segment due to their longevity.
Intelligence hangers have been a recent market innovation that have taken the hangers market by storm. Intelligence hangers are electric products that afford benefits such as rain-proofing and clothes drying assistance. However, the market for intelligence hangers has gained limited traction and is mainly centered on East Asia.
Principal Consultant
Online Sales to Impact the Sales via Traditional Wholesalers and Retailers
A boost in online sales has also characterized the hangers market’s dynamics as younger and tech-savvy consumers have shown a preference for the platform. This has caused a corresponding decline in sales through traditional wholesalers and retailers.
Residential sector to favor the sales in the region
The North America hangers market is expected to accumulate a market share of 24% in 2022. On a geographic basis, North America is anticipated to be the largest hangers market due to profound interest from the commercial sector. Continued sales in the residential segment is likely to help manufacturers weather the storm due to hangers being a basic necessity in the region.
Digital Technologies to reaffirm growth in Europe
Europe is expected to accumulate a market share value of 19% in 2022 in the hangers market. Europe also offers potential growth opportunities in the hangers market due the rise in retail and hospitality sector.
The innovation of intelligence hangers are also expected to drive the growth of the smart robots market. In addition, growth in the commercial segment and easy availability of the product will create ample opportunities for the hangers market.
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Manufacturers are adopting various marketing strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships and collaboration to identify the interest of potential buyers and create a larger customer base.
For instance,
Prominent players in the hangers market are M & B Hangers, Weatherford, Guilin Iango Home Collection, Whitmor, and MAWA and Mainetti.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 8.0% from 2022 to 2032 |
| Market Value in 2022 | USD 483.4 Million |
| Market Value in 2032 | USD 1,043.6 Million |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Type, Application, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | M & B Hangers; Guilin Iango Home Collection; Whitmor; MAWA and Mainetti; Bend and Hook; Henry Hanger; Hangers Direct |
As of 2022, the hangers market is slated to reach a valuation of USD 483.4 Million
From 2022 to 2032, sales of hangers is expected to grow at a 8.0% CAGR
By 2032, Future Market Insights expects the hangers market to reach USD 1,043.6 Million
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2016 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Type 5.1. Metal Hanger 5.2. Wooden Hanger 5.3. Plastic Hangers 5.4. Other 6. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Application 6.1. Personal Use 6.2. Commercial Use 7. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. MEA 8. North America Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 11. Asia Pacific Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 12. MEA Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. M & B Hangers 15.2. Guilin Iango Home Collection 15.3. Whitmor 15.4. MAWA and Mainetti 15.5. Bend and Hook 15.6. Henry Hanger 15.7. Hangers 15.8. Hangers Direct 16. Assumptions & Acronyms Used 17. Research Methodology
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