DUBAI, U.A.E, May 20, 2021 /PRNewswire/ — The global hang tags market is forecast to expand at a CAGR of over 6.0% throughout the forecast period between 2021 and 2031, projects ESOMAR-certified consulting firm Future Market Insights (FMI). Surging demand for packed food items and consumer electronics along with expansion of retail chains at a global level has created lucrative opportunities for hang tags market growth.
Manufacturers often use hang tags to display the product information and as a marketing tool. Increasing drawbacks of sticky labels such as color damage intensified the demand for hang tags. Implementation of modern printing techniques in hang tag printing has positively affected the apparel and garment sales further boosting the market demand. Manufacturers are using die cut hang tags along with funky and poppy printing on hang tags to earn customer attention.
Furthermore, development of hang tags as a new branding and promotional tool is driving the market. Brand owners are moving towards custom designed and glossy printed hang tags in collaboration with manufacturers. This innovation is fueling the hang tag market sales.
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Rising inclination towards branded beverages among youth has also increased the hang tags market sales. Organized retail industry is experiencing significant growth due to changed consumer spending…