NEWARK, Del, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Exhibiting a y-o-y growth of 3.1%, the global handheld tagging gun market value is estimated to reach US$ 1,080.8 million in 2024. The global handheld tagging gun sales will likely surge at a CAGR of 3.8% during the forecast period, totaling US$ 1,565.1 million by 2034.
Several factors are anticipated to stimulate the growth of the handheld tagging gun industry during the assessment period. These include:
- Booming retail industry across the world
- Rise of e-commerce
- Growing importance of product identification and traceability
- Increasing concerns about shoplifting
- Rising focus on improving operational efficiency
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The rise of e-commerce, especially after the pandemic, has increased online retail sales’ share in the global retail industry. The growth of e-commerce, in turn, has led to increased demand for handheld tagging guns, and the trend will likely continue through 2034.
Retailers use handheld tagging guns to prepare products for online sales, ensuring that items are properly labeled before being shipped to customers. These tools are setting new standards in labeling items and enhancing their safety.
E-commerce handles a large volume of diverse products, necessitating the usage of handheld guns. These guns provide a quick and efficient way to label and tag products before they are shipped to consumers, helping manage the increased workload. They aid in labeling each product properly and allow logistics teams to manage the packaging process accurately.
The handheld guns often contribute to standardizing labeling practices across the supply chain and ensure consistency in labeling regardless of the source. The e-commerce business often introduces new products and changes in their assortments based on market trends and consumer preferences. Handheld tagging guns provide a flexible solution for adapting to changes in product offerings.
Handheld tagging guns play an important role in supply chain integration and enhance efficiency. As a result, their sales are expected to rise steadily throughout the assessment period, contributing to market growth.
Handheld tagging guns are widely used to tag and label products, which will streamline the process of inventory management, tracking, and logistics. The guns help in tagging a variety of products quickly and accurately with the RFID and barcode labels that show the essential information regarding SKU, product details, price, etc.
The handy label guns can speed up the tagging process, eliminate the need to manually put the number on the products, and reduce the time and labor required for inventory management. Thus, their adoption is expected to increase significantly in the retail sector.
“Growing emphasis on ergonomic designs to improve user comfort and reduce operator fatigue during extended use is trending in the handheld tagging gun market. Manufacturers are focusing on creating lightweight and user-friendly devices to woo customers.”- Says Ismail Sutaria, Principal Consultant, Packaging and Materials at Future Market Insights.
Key Takeaways from the Market Report
- The global market for handheld tagging guns is set to total US$ 1,565.1 million in 2034.
- Based on mechanism, the semi-automatic tagging guns segment is expected to lead the market, with around 70% of the share in 2024.
- By application, the RFID labels segment is projected to total US$ 540.9 million by 2034.
- Based on end-use, the retail segment is poised to exhibit a CAGR of 4.2% through 2034.
- Asia Pacific is anticipated to gain almost 37% of value share by the end of the forecast years.
- Latin America is expected to grow at 4.2% CAGR, reaching a valuation of US$ 48.3 million by 2034.
- India will likely exhibit a CAGR of 6.8% from 2024 to 2034.
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Outline of Important Trends Shaping the Global Handheld Tagging Gun Market:
- Consumer Focus on Essential Information
Nowadays, consumers have become highly conscious about the products they purchase and use and aspire for transparency about the ingredients, sourcing, and manufacturing process. Handheld tagging guns are important in providing product details to meet consumers' needs.
Consumers praise the transparent details and instructions about the usage and security of the products. These guns help to communicate the required information about the user guidelines and protection instructions, ensuring that the customers can make informed decisions.
The crucial details include the safety information and compliance with the industry standards, particularly in industries such as food, pharmaceutical, and childcare products where the consumers depend on accurate labeling for safety considerations. The compulsion to meet these needs and prioritize necessary product information reflects the changing expectations of consumers who desire transparency, safety, and clear manufacturer communication.
Who is Winning?
The tier 1 players in the market hold 25% to 35% of the overall handheld tagging gun industry. Avery Dennison Corporation, SATO Holdings Corporation, Brady Corporation, Healthmark Industries Company, Inc., Meto International GmbH, Garvey Applications, START International, Motex Applications Co. Ltd., Towa Seiko Co. Ltd., DayMark Safety Systems, and Lotus Labels are some of the leading handheld tagging gun manufactures profiled in the report.
Key players are concentrating on developing ergonomic and user-friendly designs to provide a positive user experience with improved efficiency and less operation fatigue. They are also employing strategies like distribution agreements, partnerships, mergers, and acquisitions to stay ahead of the competition.
Recent Development:
- In May 2023, Sato Holding Corp. acquired Stafford Press, Inc. as a part of its growth strategy.
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Get More Insights
Future Market Insights (FMI), in its new report, offers an unbiased analysis of the global handheld tagging gun industry, analyzing historical demand from 2019 to 2023 and forecast statistics for 2024 to 2034. The study reveals market growth projections based on mechanism (semi-automatic tagging guns and manual tagging guns), application (RFID labels, barcode labels, adhesive labels, pre-printed labels, and other labels), end-use (retail, warehouse & logistics, and manufacturing), and region.
Market Segmentation
By Mechanism:
- Semi-automatic Tagging Guns
- Manual Tagging Guns
By Application:
- RFID Labels
- Barcode Labels
- Adhesive Labels
- Pre-printed Labels
- Other Labels
By End-use:
- Retail
- Warehouse & Logistics
- Manufacturing
- Food & Beverage
- Healthcare & Pharmaceutical
- Apparel & Fashion
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About the Packaging Division at Future Market Insights (FMI)
The packaging division at Future Market Insights (FMI) provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials and packaging machinery to packaging designs & formats, Future Market Insights (FMI) has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 3,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
Author
Ismail Sutaria (Principal Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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