In 2022, the size of the worldwide hangers market is projected to be US$ 483.4 million. Hangers are a basic household item that is used by practically every aspect of society, creating a strong and expanding global market for hangers. The global demand for hangers is expected to reach around US$ 1,043.6 million by 2032, growing at a CAGR of 8.0% between 2022 and 2032.
It is an important domestic commodity which have been penetrated almost all members of society thus creating the strong and growing international market for hangers.
Hangers are basically designed like human shoulders and created to hold clothes that do not let creases appear on them; they also make it convenient for people. In the market, we can find a lot of different hangers for example wide regular clothes ones and clipping types with one or more clamps; stacking and foldable.
Get your Sample Report to Boost Your Industry Knowledge for Valuable Insights!
https://www.futuremarketinsights.com/reports/sample/rep-gb-12288
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.
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, though a widely-acknowledged basic necessity, the hangers market too is susceptible to the impact of Covid-19.
Drivers and Trends in the Hangers Market
While hangers have been an integral part of the domestic setting for decades, the booming retail and hospitality sector in the past few years had 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.
Request the Full Report Methodology Now!
https://www.futuremarketinsights.com/request-report-methodology/rep-gb-12288
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 to 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 centred around East Asia.
A boost in online sales has also characterised 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.
Region-Wise Analysis
The Asia-Pacific has been the largest regional segment in the hangers market in recent years, besides also being the fastest growing segment. The North America and European markets have been the other large segments. Other markets such as those in Africa, Latin America and the Middle East have also enjoyed a substantial market share.
Competition Landscape
The hangers market is heavily fragmented due to various small players operating locally. This has posed limitations to the expansion plans of major players. Competitive pricing is another major determinant in this landscape. Some major players in the market include
- M & B Hangers
- Guilin Iango Home Collection
- Whitmor
- MAWA and Mainetti.
Report Highlights
- The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
- The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
- The report also maps the qualitative impact of various market factors on market segments and geographies.
Hangers Market
Regions and Countries Analyzed in the Report
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of LATAM)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
