Global Hang Tag Applicators – Market Overview, Dynamics, Segments, Regional Outlook and Key Players:
The tags are the necessity of all the end-use products to keep an identification code that defines the product in detail and also displays the price on it. Hang tags are now getting popular in the market due to its advantage over stick tags that is to provide an ease in removing the tag without damaging the product. Hanging tags also provide a challenge to apply the tag strong enough that it does not drop off the product and also in removing the tag when required. Hang tag applicators thus plays a crucial role in tagging the products. The market of hang tag applicators can be assumed to last long time until a new way of tagging the produced is introduced. Presently, hanging tags is the way of tagging the products adopted worldwide and continuously decreasing the market of sticking tags, and thus projecting a bright future for the hang tag applicators market.
The hang tag applicators are available in the market with wide variety differentiating on the basis of application and speed. Manual hang tag applicators are suitable for very small or rare requirement of hanging tags while automatic hang tag applicators are capable of tagging around 400 tags per minute or more, suitable for a huge volume of products to be tagged. This fact has driven the hang tag applicators market. The applicability of hang tags in most of the industries including food and beverage industry where the huge volume of products are produced has driven the hang tag applicators market. The hang tags are adopted majorly for apparel industry which accounts for around 2% of world’s GDP, which is around three trillion US dollar of industry and further growing fairly high rate globally. Thus, the growth of apparel market and huge market size is one of the prominent drivers of hang tag applicators market. Hanging tags has an advantage over adhesive tags but still, provides a challenge in the handling of products with hang tags as they are more likely to get stuck with openly ended curves or small poles around the tag. The solution for this challenge might give rise to the introduction of a new way of tagging or describe the product replacing the hang tag tags. This is a probable threat to the hang tag applicators market.
The hang tag applicators market can be segmented by the technology used as: Manual, Semi-Automatic, Automatic;
The hang tag applicators market can be segmented by the end-user as: Textile, Food & Beverages, Consumer Goods, Personal Care & Cosmetics, Electronic Goods, Pharmaceuticals, Others; The hang tag applicators market can be segmented by the material of tag to be attached as: Fabric, Plastics, Paper; The hang tag applicators market can be segmented by the regions as: North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, Asia Pacific excluding Japan, Japan.
The end use applications of the hang tags define the requirement of hang tags applicators in the region. Apparel and footwear market is largest in Asia Pacific with market size around US$ 600 billion, followed by Western Europe and North America with market size around US$ 400 billion each. Also, North America accounts for around half of world’s smart labels market. Thus, North America, Asia Pacific, and Western Europe indicate a potential market for hang tag applicators. Latin America and Africa are the regions with low apparel and footwear market along with low packaging market size and low GDP, thus packaging firms prefer to invest in labor and time rather than investing on automatic hang tag applicators. Thus, the market for manual hang tag applicators is much brighter in the region as compared to automatic hang tag applicators in terms of volume.
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Few of the key players of the hang tag applicators market are Northfield Corporation, Kenco Label & Tag Co., LLC., Graphic Packaging International, Inc., Autotex Italia Srl, Allflex Australia Pty Ltd., etc; Regional analysis includes: North America, Latin America, Europe, Asia Pacific, Middle East & Africa.