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.
Growth Opportunities in Marking and Coding Equipment Industry:
- Technological Advancements: Continued innovation in marking and coding technologies, such as the development of advanced printing and labeling solutions, presents a significant growth opportunity.
- Increasing Globalization: The expanding global trade and supply chain activities drive the demand for efficient marking and coding solutions to ensure compliance with diverse international regulations, creating growth prospects.
- Rising E-commerce Sector: The booming e-commerce industry requires robust marking and coding solutions for product identification and tracking, offering a substantial growth avenue for the market.
- Stringent Regulatory Compliance: Growing regulatory requirements for product traceability and anti-counterfeiting measures across industries propel the adoption of sophisticated marking and coding equipment, creating a market growth opportunity.
- Environmentally Friendly Solutions: The shift towards sustainable practices and eco-friendly packaging fosters demand for marking and coding equipment that supports environmentally responsible printing methods, presenting a niche for growth.
Industry Trends:
- Integration of IoT and Industry 4.0: Marking and coding equipment are increasingly becoming part of the broader Industry 4.0 landscape, leveraging IoT for real-time data monitoring, connectivity, and automation.
- Rise of Smart Labels: The adoption of smart labels equipped with RFID technology and sensors for tracking and monitoring product information is a growing trend, enhancing supply chain visibility.
- Inkjet Printing Dominance: Inkjet printing technologies, particularly continuous inkjet (CIJ), are gaining prominence due to their versatility, high-speed capabilities, and suitability for various substrates.
- Demand for High-Speed Coding: With the need for faster production lines, there is a trend towards high-speed coding equipment that ensures quick and accurate marking without compromising quality.
- Increasing Popularity of Laser Marking: Laser marking technology is witnessing increased adoption due to its precision, permanence, and ability to mark a variety of materials, especially in industries with stringent quality requirements.
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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
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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