The global marking and coding equipment market is on a trajectory to reach a valuation of US$ 1.8 billion by 2027, exhibiting a robust Compound Annual Growth Rate (CAGR) of 5.6% from an estimated value of US$ 1.3 billion in 2022. The demand for continuous inkjet (CIJ) technology within this market is set to contribute significantly, projected to touch US$ 647 million in 2022, displaying a steady growth rate with a CAGR of 5.1% for the period spanning 2022 to 2027, as per the latest analysis by Future Market Insights (FMI).
Notably, the India marking and coding equipment market is poised to experience impressive growth with an anticipated CAGR of 8.0% during the forecast period. This growth defies initial skepticism due to the global pandemic’s impact. The Asia Pacific region as a whole has witnessed substantial sales of marking and coding equipment, reaching US$ 504 million in 2022.
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While the market exhibits promising prospects, there are industry factors at play, coupled with specific influences such as the substantial capital investment required for implementing coding and marking equipment, which may temper the market’s growth trajectory.
Recent innovations include printers capable of recycling unused ink, showcasing the industry’s dedication to sustainability. For instance, in July 2022, the acquisition of Telesis Technologies by Hitachi Industrial Equipment Systems aimed to enhance the marking equipment business.
A comprehensive analysis by Future Market Insights indicates a rise in the market for marking and coding equipment, attributed to its crucial role in conveying valuable product information. This is evident in a projected increase of 40 basis share points (BPS) in H1-2022 compared to H1-2021. Furthermore, a surge in BPS change by 30 during the projected H1-2022 outlook period reflects its pivotal function in product communication.
The market is estimated to witness a 1.7x increase in revenue from 2017 to 2022. By 2017 end, the global marking and coding equipment market is expected to be valued at around US$ 1 Bn and is projected to reach a value of more than US$ 1.8 Bn by the end of 2027.
The global market is anticipated to reflect a CAGR of 5.6% throughout the period of forecast (2022-2027). The research report on the global marking and coding equipment market reveals the influence of various trends, challenges and drivers on the growth of the global market across key regions namely North America, Western Europe, Eastern Europe, Latin America, Asia Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA).
Global Marking and Coding Equipment Market: Competition Assessment
This fact based research study on the global marking and coding equipment market includes a detailed analysis of various companies participating in the global market such as Hitachi America, Ltd., Videojet Technologies, Inc., Markem-Imaje Corporation, Domino Printing Sciences plc., Interactive Coding Equipment (ICE), TYKMA Electrox, Inc., Squid Ink Manufacturing Inc., ATD Ltd., Open Date Systems, Inc., MACSA ID S.A, RN Mark Inc., Diagraph Corporation, Linx Printing Technologies, Numeric Marking Systems, Control Print Ltd., Durable Technologies, REA Elektronik GmbH, Matthews International Corporation, INKJET, Inc., and KGK Marking Technologies Group.
An in-depth market segmentation has been carried out to cover every angle of the market in order to portray a realistic market scenario. The report reflects historical data, current market scenario as well as future market estimates for a period of 10 years from 2022 till 2027.
Global Marking and Coding Equipment Market: Analysis of Various Segments
The global marking and coding equipment market has been segmented by technology type, by application type, by end use and by region.
- By technology type, the continuous inkjet printer segment is the largest with respect to market value and dominates the global market. On the other hand, laser coding systems have gained high traction and this is the second largest segment, projected to grow at the highest rate to register a CAGR of 6.5% during the forecast period.
- By region, Asia Pacific excluding Japan (APEJ) is the most attractive and the marking and coding equipment market in this region is estimated to reach a high value of around US$ 710 Mn by 2027 end.
- By application, the rigid packaging segment is likely to dominate the global market with a higher market share in terms of both value and volume in the years to follow. The flexible packaging application segment is projected to grow at 5.8% CAGR during the 2022 – 2027 timeline
- By end use, the food segment is expected to exhibit high potential for growth in the global marking and coding equipment market. This segment is anticipated to lead the global market in terms of value and is estimated to reach a high valuation of about US$ 784 Mn by the end of the forecast period.
Global Marking and Coding Equipment Market: Factors Influencing Growth
Factors such as a positive retail sector outlook, seamless integration with active packaging solutions, rising demand from the chemical packaging industry, new product launches, advancements in laser marking technology, high growth in the food industry and increasing use of marking and coding equipment in the building and construction material industry across the globe are expected to fuel revenue growth of the global marking and coding equipment market.
Few aspects such as the political crisis, intense competition, high cost of consumables and uneven size package coding leading to increased cost are anticipated to pose hindrances to the growth of the global marking and coding equipment market.
Global Marking and Coding Equipment Market: Vital Forecast Highlights
The global marking and coding equipment market is expected to grow at a CAGR of 5.5% throughout the period of forecast and is estimated to reach a value of US$ 1770 Mn by the end of the assessment year.
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Marking and Coding Equipment Market by CategoryBy Technology :
- Continuous Inkjet (CIJ)
- Thermal Inkjet (TIJ)
- Thermal Transfer Overprint (TTO)
- Laser Coding System
- Large Character Marking (LCP)
- Label Print Applicator (LPA)
- Other Printers
By Application :
- Flexible Packaging
- Bags
- Pouches & Sachets
- Vacuum / Shrink films
- Others
- Rigid Packaging
- Pipes & Tubes
- Boxes
- Bottles & Jars
- Cans
- Metal Parts
- Trays & Clamshells
- Crates
- Others
By End-use Industry :
- Food
- Beverages
- Pharmaceuticals
- Personal & Homecare
- Electricals & Electronics
- Automotive
- Chemical & Fertilizers
- Building Materials
- Other Industries
Author:
Ismail Sutaria (Lead 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. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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.
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