Coding And Marking Equipment Market Size Worth $22.1 Billion By 2028: Grand View Research, Inc.
SAN FRANCISCO, Jan. 13, 2022 /PRNewswire/ — The global coding and marking equipment market size is expected to reach USD 22.1 billion by 2028, registering a CAGR of 5.5% from 2021 to 2028, according to a new report by Grand View Research, Inc. The growth of the market can be attributed to the growing health consciousness among consumers. The growing preference among consumers for packaged and labeled food and beverages is particularly encouraging food and beverage manufacturers to deploy coding and marking equipment, thereby driving the growth of the market.
Key Insights & Findings from the report:
- Advances in software and technology to control the mechanical systems and the thickness of the ink and to prevent the print head from stumbling are expected to play a decisive role in driving the adoption of the latest coding and marking equipment over the forecast period
- The continuous inkjet (CIJ) printer segment dominated the market in 2020 and is expected to continue dominating the market over the forecast period. The ease of use, greater flexibility, and high-speed printing associated with continuous inkjet printers bode well for the growth of the segment
- The pharmaceutical segment is expected to expand at a CAGR of 6.2% over the forecast period. Coding and marking equipment can play a vital role in catering to the labeling and packaging needs of the incumbents of the pharmaceutical industry
- Easy availability of raw materials, the unabated increase in food production, and the strong emphasis on ensuring high product quality are expected to propel the growth of the Asia Pacific regional market
- Stringent government regulations regarding appropriate labeling of the finished products as part of the efforts to counter brand piracy and counterfeiting are expected to play a decisive role in driving the growth of the Asia Pacific regional market
Read 100 page market research report, “Coding And Marking Equipment Market Size, Share & Trends Analysis Report By Product Type (Continuous Inkjet Printer, Thermal Inkjet Printer, Laser Printer), By End-use Industry, By Region, And Segment Forecasts, 2021 – 2028“, by Grand View Research
The adoption of multifunctional inkjet printers for coding and marking purposes is expected to gain significant traction over the forecast period. Multifunctional inkjet printers are highly versatile as they support various functions, including scanning, copying, fax, and printing. Moreover, the cost of multifunctional inkjet printers also tends to be lower than that of conventional inkjet printers. Even though the operating cost of multifunctional inkjet printers is typically high owing to the power they consume and the maintenance they require; their features, such as USB, Bluetooth, and Wi-Fi connectivity, and LCD touchscreen, make them highly user-friendly. Hence, small businesses and enterprises prefer multifunctional inkjet printers for coding and marking purposes.
However, the high capital investment required for implementing coding and marking equipment is expected to emerge as a major market restraint over the forecast period. Small businesses and enterprises particularly lack the financial resources and the infrastructure required to implement coding and marking equipment. On the other hand, the return on investment (ROI) associated with coding and marking equipment is hardly quantifiable, which is also discouraging major food producers from adopting it.
The outbreak of the COVID-19 pandemic took a severe toll on the coding and marking equipment market. The lockdowns implemented in different parts of the world as a precaution to control the spread of the virus affected the supply of raw materials and the movement of finished products. The temporary closure of factories in China also affected the supply of the inks used in coding and marking machinery.
Grand View Research has segmented the global coding and marking equipment market based on product type, end-use industry, and region:
- Coding And Marking Equipment Product Type Outlook (Revenue, USD Million, 2016 – 2028)
- Continuous Inkjet (CIJ) Printer
- Thermal Inkjet (TIJ) Printer
- Piezo Inkjet Printer
- Laser Printer
- Coding And Marking Equipment End-use Industry Outlook (Revenue, USD Million, 2016 – 2028)
- Food and Beverage
- Coding And Marking Equipment Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
List of Key Players in the Coding And Marking Equipment Market
- Danaher Corp.
- Domino Printing Sciences Plc
- Hitachi Ltd.
- Markem-Imaje Group
- Matthews International Corporation
- Leibinger Group
- REA Elektronik GmbH
- ProMach Inc.
- Koenig & Bauer Coding GmbH
- HSA Systems
Check out more studies related to package marking & coding equipment, published by Grand View Research:
- Laser Marking Machine Market – The global coding and marking equipment market size was valued at USD 14.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2021 to 2028. The growth of the market can be attributed to the growing demand for coding and marking equipment, particularly from the pharmaceutical and food and beverage industries.
- Inkjet Coders Market – The global inkjet coders market size was valued at USD 1.5 billion in 2018 and is expected to witness a CAGR of 5.1% over the forecast period. The market is expected to witness an incremental growth in demand owing to growing emphasis on anti-counterfeiting strategies, compliance with stringent labeling regulation, and product traceability.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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