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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Innovation in the Industry:
- Advanced Printing Technologies: The market has witnessed significant innovation in printing technologies, with the adoption of high-resolution inkjet printers, laser coding systems, and thermal inkjet technologies. These advancements enable clearer, more precise, and faster printing on various surfaces, ensuring accurate product identification and traceability.
- Integration of IoT and Industry 4.0: Marking and coding equipment are increasingly integrated into the Internet of Things (IoT) and Industry 4.0 frameworks. This allows for real-time data exchange and connectivity, enabling seamless communication between different stages of the production line. Smart marking and coding equipment can be remotely monitored and controlled, enhancing efficiency and reducing downtime.
- QR Codes and Data Matrix for Traceability: The emphasis on supply chain traceability and consumer engagement has led to innovations in the use of QR codes and Data Matrix codes. Marking and coding equipment now incorporate capabilities to generate and print these codes, providing a wealth of information that can be accessed by consumers through smartphones. This not only enhances traceability but also serves as a tool for marketing and brand engagement.
- Automation and Robotics Integration: Innovations in robotics and automation have impacted the marking and coding equipment market. Automated systems, including robotic arms equipped with coding devices, are increasingly utilized for high-speed and precision coding in industries such as manufacturing, logistics, and packaging. This integration improves overall operational efficiency.
- Eco-Friendly Inks and Sustainable Practices: With a growing focus on sustainability, the market has seen innovations in eco-friendly inks and marking solutions. Water-based, solvent-free, and UV-curable inks are becoming more popular, reducing environmental impact. Additionally, equipment manufacturers are incorporating energy-efficient technologies to align with the global push for sustainable business practices.
- Artificial Intelligence for Quality Control: The integration of artificial intelligence (AI) in marking and coding equipment enhances quality control processes. AI algorithms can detect and correct errors in real-time, ensuring that the printed information meets quality standards. This innovation is particularly crucial in industries where accurate coding is critical for safety and compliance.
Industry Growth Drivers:
- Regulatory Compliance Requirements: Increasing regulations and stringent quality control standards across industries drive the demand for advanced marking and coding equipment. Manufacturers seek reliable solutions to meet regulatory requirements and ensure accurate product information and traceability.
- Rising Need for Product Traceability: The growing emphasis on supply chain traceability, driven by consumer demands and regulatory mandates, fuels the adoption of marking and coding equipment. Industries such as food and pharmaceuticals prioritize traceability to enhance product safety and recall management.
- Globalization of Supply Chains: As supply chains become more globalized, the need for standardized and universally readable product coding becomes crucial. Marking and coding equipment play a vital role in ensuring consistency and clarity in information, facilitating efficient logistics and distribution.
- Increased Focus on Anti-Counterfeiting Measures: The rise in counterfeit products has led to heightened awareness and the implementation of anti-counterfeiting measures. Marking and coding equipment with advanced features, such as holographic labels and unique identification codes, help in authenticating products and protecting brands.
- Advancements in Packaging Technologies: Innovations in packaging, including smart packaging and intelligent labeling, contribute to the growth of the marking and coding equipment market. Manufacturers are investing in equipment that can handle complex labeling requirements and integrate with modern packaging solutions for enhanced functionality and aesthetics.
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 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 Category:
By 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
By Region :
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- Middle East and Africa (MEA)
- Japan
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.
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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