Emerging Opportunities in the Tags Market, Anticipated CAGR of 5.4% during 2023 to 2033

Growing Demand for Printable Tags to Bolster Tags Market; FMI Analysts Predict Market Valuation to Surpass US$ 19,510.4 million by 2033. the South Asia tags market is predicted to exhibit a CAGR of 7.4% between 2023 and 2033. The North American market is estimated to hold over 21.6% value share in the global market for tags by 2033

/EIN News/ — NEWARK, Del, May 31, 2023 (GLOBE NEWSWIRE) — The global tags market size is poised to exceed a valuation of US$ 11,530.8 million in 2023. It is anticipated to attain a valuation of US$ 19,510.4 million by 2033. The market is slated to develop at a CAGR of 5.4% from 2023 to 2033.

Effective product identification, tracking, and traceability are becoming more important in several industries, including manufacturing, transportation, healthcare, and retail. Unique identifying codes, serial numbers, barcodes, or QR codes that enable effective inventory management, supply chain visibility, and product verification are provided by tags. The need to increase operational effectiveness, decrease mistakes, boost security, and adhere to regulatory standards is what fuels the market for tags.

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The demand for tags has substantially expanded due to the growth of e-commerce and online shopping. The importance of labeling and tagging items for shipping, inventory control, and order fulfilment grows as more firms turn to online platforms. Products are identified by tags, which also offer pertinent information and guarantee efficient logistics and delivery procedures. The demand for tags has increased as e-commerce has grown, particularly for shipping labels, barcodes, and tracking labels.

In North America, there is an enormous demand for tags because of factors like thriving retail and e-commerce sectors, advanced supply chain management systems, and strict regulatory requirements. The region has a well-established retail market with a focus on inventory management, monitoring, and product identification. The need for tags is driven by the requirement for effective logistics, order fulfillment, and adherence to labeling laws. The development of e-commerce and online shopping has also increased the demand for product identification tags, tracking tags, and delivery labels.

Europe has developed a retail industry, broad manufacturing sectors, stringent regulatory frameworks, and expanding e-commerce businesses. This all contributes to the region’s high tag demand. Product safety, traceability, and customer information are highly prioritized in Europe. The region’s well-established industrial and retail industries, as well as the growing popularity of online purchasing, all help to drive demand for tags.

Key Takeaways from Tags Market:

• The global tags industry size expanded at a CAGR of 3.8% from 2018 to 2022.
• In 2018, the global market size stood at US$ 9,408.6 million.
• The global market size stood at US$ 10,940.1 million in 2022.
• In 2022, the RFID tag type segment captured 56.1% shares in the global market.
• In 2022, the plastic segment under material type, captured 42.8% shares in the global market.
• In 2022, the United States garnered 16.2% shares in the global market.
• In 2022, China captured 6.1% shares in the global market.

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Recent Developments Observed by FMI:

• Several new products were unveiled by SIVA IoT, a manufacturer of RFID and wireless IoT tags and labels, in April 2022. The multi-national company has added battery-assisted tags, sensor-based labels, tamper-proof tags, and dual frequency tags to its lineup of products.
• CCL Industries Inc. announced in January 2021 that it had purchased two software-powered tag and card firms for its Avery division.
• Zebra Technologies Corp. added solutions to streamline fulfillment procedures to its range of fetch robotics in October 2021.

Key Players in the Global Market:

• Zebra Technologies Corp.
• Honeywell International
• Sato Holdings Corp.
• Finotex USA Corp.
• CCL Industries Inc.
• Pacific Coats Bach Label Inc.
• NXP Semiconductors
• Confidex Ltd.
• GAO RFID Inc.
• HID Global Corp.
• Dortex Werbung und Vertrieb GmbH

Tags Market Segmentation

By Material Type:

• Plastic
• Paper
• Fibers
• Others (Metal, etc.)

By Tag Type:

• RFID Tag
• Hang/Swing Tag
• Loop Tag

By End Use:

• Food & Beverage
• Clothing & Apparels
• Hospitality & Travel
• Beauty & Personal Care
• Consumer Electronics
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• The Middle East & Africa (MEA)

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Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

    3.2. Scenario Forecast

    3.3. Opportunity Map Analysis

    3.4. Product Life Cycle Analysis

    3.5. Supply Chain Analysis

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

    4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022

    4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033

  4.2.1. Y-o-Y Growth Trend Analysis

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material Type

  5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Material Type, 2018 to 2022

    5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Material Type, 2023 to 2033

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Smart Tag Packaging Market Size: According to Future Market Insights research, during the projected period, the global smart tag packaging market is set to enjoy a market valuation of US$ 8.6 Billion in 2022, and register a CAGR of 10.1% to reach US$ 22.6 Billion by 2032.

Asset Tags Market Share: The global asset tags market garnered a market value of US$ 1,765.6 Million in 2022 and is expected to register a CAGR of 5.2% and is expected to accumulate a market value of US$ 2,931.2 Million in the forecast period 2022-2032.

Heavy duty Paper Tags Market Trends: The heavy-duty paper tags market is likely to register a CAGR of 5% during the forecast period and is anticipated to reach a market share of US$ 3.4 Billion in 2032, from US$ 2 Billion in 2021, owing to the rise in the shipping industry and cost-effectiveness.

Printable Tags Market Analysis: The US and Germany are expected to be the markets with a mature printable tags market and are expected to account for the major share of the global printable tags market throughout the forecast period.

Self-Laminating Tags Market Outlook: The self-laminating tags market is expected to register a CAGR of 4.8% during the forecast period, up from US$ 90.95 Bn in 2022 to reach a valuation of US$ 145.35 Bn by 2032.

Hang Tags Market Overview: The global hang tags market is expected to account for US$ 2.8 Bn by the year 2031 at a CAGR of 5.1%.

Non-Adhesive Tags Market Growth: The global non-adhesive tags market is anticipated to accumulate a market value of US$ 4.2 billion in 2023 and is expected to garner a valuation of US$ 7.4 billion by exhibiting a CAGR of 5.8 % in the forecast period 2023 to 2033.

Braille Clothing Tags Market Demand: According to the latest report by FMI, Braille Clothing Tags Market is projected to grow with a CAGR of more than 4.5% in the forecast period.

Medical Device & Equipment Tags Market Forecast: The medical device & equipment tags market was valued at US$ 350.0 Mn in 2020 and is expected to grow at a CAGR of 6.8% during the forecast period 2021-2031.

Industrial Tags Market Scope: US is considered the lucrative market for industrial labels market globally. During a volatile few months in the region, the industrial tags market has shown to be a vital business.

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