The global coding and marking market size is expected to reach USD 8 billion by 2026, growing at a CAGR of 8% during 2020-2026.
The coding and marking market is expected to grow at a CAGR of over 8% during the period 2020−2026.
Key Highlights Offered in the Report:
1. The global coding and marking market is well-diversified across North America, APAC, Europe, Latin America, and MEA. In 2020, APAC dominated the market and accounted for around 31% share.
2. APAC is expected to witness strong traction in demand in the future as various industries such as food & beverages, automotive, electronics, and pharmaceuticals, among others, are growing at a high rate in the region.
3. The global coding and marking market comprise various technology coding printers such as CIJ, laser, VIJ, PIJ, TTO, TIJ, and PALM. In 2020, the CIJ segment accounted for approximately 40% share of the global market.
4. CIJ technology will continue to dominate the market. However, TIJ, TTO, PALM, and laser technologies will witness above-average growth rates during the forecast period.
5. The F&B industry was the largest end-user segment in the global coding & marking market in 2020 and accounted for a share of around 51%.
6. The consumables segment dominates the global coding and marking market. The demand for consumables in the global coding & marking market increased even during the pandemic of COVID-19 owing to huge requirement for inks and other consumables from F&B industry and healthcare industry.
• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by end-users, product mix, technology, and geography
• Competitive Landscape – 5 key vendors and 21 other vendors
Coding and Marking Market – Segmentation
• The food and beverage end-user segment accounts for more than 50% of the global coding and marking market share. The growth in F&B end-user is attributed majorly due to the improving demographics across the globe, increasing investment and strict regulations by the government, and shift towards urbanization.
• In 2020, consumables accounted for a share of 47% of the overall market revenue. The demand for consumables in the global market increased even during the pandemic of COVID-19 owing to huge requirements for inks and other consumables from the F&B industry and healthcare industry.
• The high-speed printing and "quick-dry" nature of the CIJ coding solution will boost the continuous inkjet segment growth. The CIJ printing technology remains the largest segment in the global coding and marking market. Easy availability and high penetration within the market are driving the industry growth.
Coding and Marking Market by End-User
• Food & Beverage
• Electrical Equipment & Electronics
• Chemical & Construction
• Automotive & Aerospace
• Other Industries
Coding and Marking Market by Product Mix
• Spare Parts & Aftermarket
Coding and Marking Market by Technology
Coding and Marking Market – Dynamics
Laser coding is one of the recent developments in the global coding & marking market. This technology has witnessed a sharp rise in demand, largely due to its properties and feasibility across a wide range of end-user industry applications. For instance, laser coding solutions are growing in popularity across end-user industries such as cosmetics, personal care, F&B, and automotive, among others. A key reason for this growth in popularity is the ability of laser coding to remain permanent and of high quality than its peer coding & marking solutions. Over the last few years, vendors in the global coding & marking market have come up with a wide range of laser marking solutions. This is also attributed to the fact that laser coding & marking is one of the best ways to adhere to regulatory standards while maintaining packaging demands.
Key Drivers and Trends fueling Market Growth:
• Advent of Industry 4.0
• Evolving Secondary Packaging Market
• Increasing Demand for Traceability by End-Users
• Significant Rise in Flexible Packaging
Coding and Marking Market – Geography
The urbanization of developing countries in the APAC region is expected to bolster the demand for food and beverage products and healthcare provisions, and thus drive the demand for coding and marking equipment during the forecast period. While Japan and China are the major markets for coding and marking equipment, countries such as India are expected to witness high demand due to the improving quality of life. The APAC region is among the fastest-growing regions in the global coding and marking market. Measures for the development of new standards have driven the rapid growth of the market in the region. The packaging and labeling regulations in China have mandated that all products must have Chinese labels and country of origin imprinted on them. Also, the packaging industry in the respective regions is thriving. There is an onset of innovative, flexible packaging designs in Japan, South Korea, China, Indonesia, and India.
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Segmentation by Geography
• North America
• Western Europe
• Latin America
• Middle East & Africa
• South Africa
• Saudi Arabia
• Central & Eastern Europe
• Brother Industries
• Hitachi Industrial Equipment Systems
Other Prominent Vendors
• ANSER Coding
• Beijing Hi-Pack Coding
• Control Print
• EBS Ink-Jet Systeme GmbH
• Guangzhou EC-Pack Packaging Equipment
• ID Technology
• Koenig & Bauer Coding
• Kortho Coding and Marking
• Macsa ID
• Matthews International
• Paul Leibinger
• REA Elektronik
• SATO Holdings
• Squid Ink
• Weber Marking Systems
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Source: EIN Presswire