Coding And Marking Equipment Industry Overview
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.
Coding And Marking Equipment Market Segmentation
Grand View Research has segmented the global coding and marking equipment market based on product type, end-use industry, and region:
Based on the Product Type Insights, the market is segmented into Continuous Inkjet (CIJ) Printer, Thermal Inkjet (TIJ) Printer, Piezo Inkjet Printer, Laser Printer, Others.
- The continuous inkjet (CIJ) printer segment dominated the market in 2020 and accounted for a revenue share of more than 32%. CIJ printers use a non-contact method to provide versatile and reliable coding to support high-quality, fast-paced production for several use cases. The high market penetration and the easy availability of these printers and their inks also bode well for the growth of the segment. Several market players are advancing their CIJ printers to defend their position in the market.
- The thermal inkjet (TIJ) printer segment is anticipated to register the highest CAGR over the forecast period. TIJ printers can offer a low-cost option for printing as they can print at fast speeds and high quality on anything. These printers are easy to use and require no special practice or training to operate. Moreover, TIJ printers are always ready to use as they do not require any warm-up or cool-down cycles. TIJ printers are typically used to print on plastics, specialty and regular papers, cartons, and metals.
Based on the End-use Insights, the market is segmented into Food and Beverage, Pharmaceutical, Construction, Cosmetics, Others.
- The food and beverage segment dominated the market in 2020 and accounted for a revenue share of more than 31%. Food safety accreditation is a prerequisite for food companies selling their products via online channels or via retailers. Moreover, food companies are also putting a strong emphasis on product differentiation and brand protection to counter counterfeiting. Besides, consumers are increasingly checking for traceability tags and regulatory certifications on the food products they purchase as they are getting more and more conscious about their health, thereby driving the demand for coding and marking systems from food and beverage companies.
- The pharmaceutical segment is anticipated to expand at the highest CAGR over the forecast period. It is of paramount importance for the incumbents of the pharmaceutical and healthcare industry to code and identify their products and packaging systems. Manufacturers are required to directly code the product and packaging, and the specifics of the code need to be approved by the concerned regulatory bodies. Stringent regulations are particularly driving the need for serialization and reliability, and subsequently, the need for ensuring that every product is appropriately coded and marked. Appropriate coding and marking of products, such as disinfectants, masks, and sanitizers, is particularly getting necessary in the wake of the outbreak of the COVID-19 pandemic.
Coding And Marking Equipment Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Key Companies Profile & Market Share Insights
The market can be described as a highly fragmented market. The market players are focusing on introducing new products and enhancing their product offerings to better cater to the changing needs of the users while retaining their competitiveness.
Some of the prominent players operating in the global coding and marking equipment market include,
- 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
Order a free sample PDF of the Coding And Marking Equipment Market Intelligence Study, published by Grand View Research.