A general hanger is a type of hanger that can be used to hang clothes in a variety of different ways. It can be made from metal, wood, or plastic. There are many uses for general hangers. They can be used for personal use, such as hanging clothes to dry, or for commercial use, such as displaying products.
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Data Bridge Market Research analyses that the Global Hangers Market is expected to grow at a CAGR of 4.6% in the forecast period of 2023 to 2030 and is expected to reach USD 2,649,284.85 thousand by 2030. The driving factors growth of the market includes the use of various types of hangers in households is increasing.
Key Findings of the Study
A THRIVING RETAIL AND HOSPITALITY SECTOR LEADS TO CONTINUOUS GROWTH
Retail is one of the fastest developing channels, and it plays a vital part in the country's increasing economic growth. Customers are becoming increasingly drawn to retail markets in recent years. Changes in income structure, changing lifestyles, and organized retail, bolstered in particular by rising incomes and growing purchasing power among consumers in rapidly growing sectors of the economy, such as information technology and business process outsourcing, are just a few of the key factors driving growth in the retail industry. Large format retail firms dominate the retail environment in terms of retail space, categories, range, brands, and volumes. Their operational sizes are massive, their profit margins are significantly larger, and they operate in a variety of formats, such as discount shops, warehouses, supermarkets, department stores, hypermarkets, convenience stores, and specialty stores. The branded clothes market is the most rapidly growing.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2020 - 2015)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Product (Plastic Hanger, Wooden Hanger, Stainless Steel, Aluminum Alloy, and Others), Application (Commercial, and Household), Mode of Sale (Retail, and Online).
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Countries Covered
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U.S., Canada, Mexico, Germany, France, the U.K., Italy, Russia, Spain, Netherlands, Belgium, Switzerland, Turkey, and the Rest of Europe, Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand, and the Rest of Asia-Pacific, South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel, and the Rest of the Middle East and Africa.
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Market Players Covered
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MAINETTI (Scotland, U.K.), M&B Hangers (Alabama, U.S.), EISHO CO., LTD. (Guilin, China), hangers.com (Texas, U.S.), Whitmor, Inc. (Mississippi, U.S.), GUILIN IANGO HOME COLLECTION CO.,LTD. (Guilin, China), mawa-hangers.com. (Pfaffenhofen, Germany), NAHANCO (Vermont, U.S.), Bend & Hook (Minnesota, U.S.), and Concept Mannequins (Delhi, India) among others.
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The global hangers market is segmented based on product, application, and mode of sale.
On the basis of product, the global hangers market is segmented into plastic hanger, wooden hanger, stainless steel, aluminum alloy, and others. In 2023, the plastic hanger segment is expected to dominate the market as plastic hangers offer longevity and easy availability of plastic hangers, further propelling the market growth.
In 2023, the plastic hanger segment of products segment is anticipated to dominate the global hangers market
In 2023, the plastic hanger segment is expected to dominate the market as plastic hangers offer longevity and easy availability of plastic hangers, further propelling the market growth. The plastic hangers segment is expected to reach the CAGR of 4.5% in the forecast period of 2023-2030.
- On the basis of application, the global hangers market is classified into two segments commercial and household. In 2023, the commercial is expected to dominate the market with a 64.62% market share owing to an increase in demand for hangers used in hotels, hospitals, restaurants, and other such places where clothes are worn by customers or employees, respectively.
- On the basis of mode of sale, the global hangers market is classified into two segments retail and online. In 2023, the retail segment is expected to dominate the market with 71.27% market share as consumers prefer to buy from retail stores as they are cheaper than buying directly from the manufacturers.
Major Players
Data Bridge Market Research recognizes the following companies as the major global hangers market players such as MAINETTI, M&B Hangers, EISHO CO., LTD., hangers.com, Whitmor, Inc., GUILIN IANGO HOME COLLECTION CO.,LTD., mawa-hangers.com., NAHANCO, Bend & Hook, and Concept Mannequins among others.
Market Developments
- In November, MAINETTI announced a collaboration with UBQ Materials Ltd. to establish a new benchmark for product innovation and sustainability in the fashion sector. The cooperation will use UBQ's proprietary thermoplastic to manufacture sustainable items for retailers globally utilizing climate-positive raw materials.
- In September, NAHANCO introduced a new line of thin wooden hangers for more storage space. These suit hangers featured notched shoulders for hanging straps, while all of the hangers in the SlimLine Collection were constructed with a brushed chrome swivel hook.
In July, MAINETTI introduced the Paperform Hanger line, which provides merchants with a sustainable and renewable complement to its hanger inventory. The hanger is 100% plastic-free, recyclable, and made from recycled paper and steel upon request. The revolutionary collection is available in various hanger designs designed by the supply chain solutions provider.
Regional Analysis
Geographically, the countries covered in the global hangers market report are U.S., Canada, Mexico, Germany, France, the U.K., Italy, Russia, Spain, Netherlands, Belgium, Switzerland, Turkey, and the Rest of Europe, Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand, and the Rest of Asia-Pacific, South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel, and the Rest of the Middle East and Africa.
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant region in the global hangers market during the forecast period 2023 - 2030
In 2022, Asia-Pacific dominated the global hangers market owing to the increasing usage of various types of hangers in households. Europe will continue to dominate the global hangers market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the growing adoption of advanced technology and the launch of new products in this region.
Asia-Pacific is estimated to be the fastest-growing region in the global hangers market for the forecast period 2023 - 2030
Asia-Pacific is expected to grow during the forecast period due to the presence of major market players and the rapid development of medical facilities in emerging economies in this region. In addition, rising healthcare expenditure and increasing per-capita income are expected to propel the market's growth rate in this region.
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