The global tags market size is anticipated to register significant growth from 2023 to 2033. According to the research report published by Future Market Insights, the global market is slated to exceed a valuation of USD 11,530.8 million in 2023. It is predicted to reach a valuation of USD 19,510.4 million by 2033. The market is predicted to expand at a CAGR of 5.4% from 2023 to 2033.
Tags used on goods help logistics players improve logistics management and product recognition. This ultimately simplifies the process of goods handling and distribution process. Tags are available in several customizable formats as per the particular business requirement. The availability of such highly customizable tags facilitates overall inventory and asset management and is gaining significant traction in the market.
The global market is primarily driven by ongoing trends in consumer convenience and product design. Players in the market across the globe are primarily focusing on manufacturing and design of attractive and appealing tags with exceptional printing qualities. Moreover, of different shapes, sizes, thicknesses, and smooth texture finish. Nowadays, tags are not only made from paper, cardboard, and plastic with white cotton string but also a part using smart packaging. The incorporation of technological advancements such as RFID technology in tags has increased its popularity to the next level.
The rising scope for innovation in products coupled with the introduction of novel technologies in tags has increased its applicability to a great extent in several end-use industries. Furthermore, people have the option to select and order selective designs for tags as per the business requirement, which is expected to improve sales exponentially.
| Attributes | Details |
|---|---|
| Tags Market Share (2022) | USD 10,940.1 million |
| Tags Market Share (2023) | USD 11,530.8 million |
| Tags Market Share (2033) | USD 19,510.4 million |
| Tags Market Share (2023 to 2033) | 5.4% |
| Top 5 Countries’ Value Share | 44.2% |
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The global tags industry size expanded at a CAGR of 3.8% from 2018 to 2022. In 2018, the global market size stood at USD 9,408.6 million. In the following years, the market witnessed substantial growth, accounting for USD 10,940.1 million in 2022.
This exponential rise in growth is accounted due to an increase in demand from various industries such as clothing & apparel, beauty & personal care, and consumer products.
Logistics and inventory management are vital in any industry to manage crucial things such as storage, tracking, and movement of all kinds of goods from manufacturers to consumers. Leading logistic players across various parts of the world are adopting labeling and tags solutions on a large scale to maintain inventory management, asset tracking, material handling operations, shipment and receiving, and work-in-progress tracking.
The demand for such top-notch customized and appealing tags is at an all-time high across the globe, which further accelerates market growth.
Leading as well as small food & beverages, beauty, personal care, clothing, and apparel industry players across the globe are preferring labeling solutions. Such as RFID tags, hang tags, loop tags, and swing tags for brand promotion and attract customers.
Printing on tags with precise product information helps brand owners to differentiate their products from competitors, already available in the market. Tags can be printed using various printing options such as flexographic printing, direct thermal and thermal transfer, and others as per the requirement. These custom printing options enable printing on tags starting from barcodes to track your product to any other form of information as per the customer's needs. The quality of print on tags plays a pivotal role in tags' aesthetic look and finishing. Such printing on tags improves the overall look of tags and make them attractive and it also gains the attention of consumer towards the product.
Easy accessibility of such printing options is offering enormous opportunities to tag manufacturers. To design and manufacture more attractive and catchy tags to attract a huge portion of customers in the market.
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Manufacturers operating in the global market are enjoying the consistent demand for hang tags, RFID tags, loop tags, and swing tags owing to their extensive range of applications. However, manufacturers of tags from European and American countries are focusing on the expansion of their business footprint in highly potential South and East Asia regions. To maximize their sales and financial profitability.
The rapid expansion of industries in Asian countries has opened markets for global manufacturers. Moreover, the economic cost of production in Asian countries has encouraged some leading players to expand their manufacturing facilities in various countries across South and East Asia. Also, the ever-growing retail, e-commerce, food, and personal care sectors in Asian countries are creating a conducive environment for the growth of hang tag manufacturers. Considering these factors, manufacturers of tags operating in America and Europe can focus on Asia to penetrate further in the market.
As per FMI analysis, by tag type, the RFID segment is anticipated to be a prominent shareholder in the global market for tags. In 2022, the RFID tag type segment captured 56.1% shares in the global market. The benefits that RFID tags offers include better stackability, convenience in logistical accounting, and durability. This makes RFID tags ideal solutions for numerous industries such as clothing, food, and electronics among others. This is anticipated to bolster the demand for tags in the forecast period.
Clothing & Apparel is the leading segment in the market. These segments are projected to cumulatively create an incremental opportunity of USD 2,445.0 million during the forecast period of 2023 to 2033. Additionally, the beauty & personal care segment is projected to grow 1.64 times by the end of 2033.
The plastic material type segment is predicted to garner high demand during the forecast period. In 2022, the plastic segment under material type, captured 42.8% shares in the global market. Different colors, textures, and finishes may be easily applied to plastic tags. Additionally, they can have other information printed on them, such as logos, brand names, product descriptions, or barcodes. Plastic tags' printability enables clear and readable labeling, boosting brand recognition and product identification.
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The maximum share of the North America tags market is held by the United States, which is predicted to account for 84% of the overall market value by 2033. In 2022, the United States garnered 16.2% shares in the global market. The urbanization, transition of the average American from the countryside to cities, rising disposable income, and shifting focus towards better food products in the United States create growth opportunities for food & food services packaging solutions. According to the Organization for Economic Co-operation and Development (OECD), the United States stands in the second position in terms of meat consumption. This is predicted help to supplement the demand for tags in the region.
China is the second-leading economy and is globally known because of its stronghold in infrastructural & industrial growth. In 2022, China captured 6.1% shares in the global market. China is well known for its early adoption of advanced technologies. The cost of manufacturing is lower in China because of the availability of cheap labor and extensive consumer usage, which attracts tags producers from around the world.
According to the National Health & Nutrition Survey, China is Asia’s dominant market for the food & food services industry, making it highly beneficial for tag manufacturers. Moreover, the growing overall population, and rise in demand for clothing, food, electronics, and food services among the population may exponentially cause growth in the market. To capitalize on existing opportunities, the manufacturers in the market are eyeing China, which is estimated to thrive at a CAGR of 5.7% during the forecast period.
| Country | CAGR Share in Global Market (2022) |
|---|---|
| United States | 16.2% |
| United Kingdom | 3.0% |
| China | 5.7% |
| Japan | 6.8% |
| India | 6.1% |
Leading tag manufacturers are committed to the research and development of the product and are consistently offering innovative tag solutions targeted towards specific end-use. Companies operating in the market are aiming at product launches and expansions with other manufacturers.
Recent Developments Observed by FMI:
Key Players in the Global Market:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value, million Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; The Middle East & Africa (MEA) |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of EMEAI, Brazil, Peru, Argentina, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea India, ASEAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others |
| Key Segments Covered | Material Type, Tag Type, End-use, Region |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The market may attain a potential value of USD 11,530.8 million in 2023.
Through 2033, the market may flourish progressively at a CAGR of 5.4%.
The estimated value of the global market in 2033 is USD 19,510.4 million.
The United States market is predicted to garner a 16.2% share.
China is anticipated to have a 6.1% market share.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material Type 5.1. Plastic 5.2. Paper 5.3. Fibers 5.4. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Tag Type 6.1. RFID Tag 6.2. Hang/ Swing Tag 6.3. Loop Tag 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Food & Beverage 7.2. Clothing & Apparels 7.3. Hospitality & Travel 7.4. Beauty & Personal Care 7.5. Consumer Electronics 7.6. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Zebra Technologies Corp. 16.2. Honeywell International 16.3. Sato Holdings Corp. 16.4. Finotex USA Corp. 16.5. CCL Industries Inc. 16.6. Pacific Coast Bach Label Inc. 16.7. NXP Semiconductors 16.8. Confidex Ltd. 16.9. GAO RFID Inc. 16.10. HID Global Corp. 16.11. Dortex Werbung und Vertrieb mbH 17. Assumptions & Acronyms Used 18. Research Methodology
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