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The global coding and marking equipment market size is projected to reach a value of USD 1.46 billion at a CAGR of 6.89% between 2023 and 2028. The growth rate of the market depends on several factors, the rising necessity for product traceability, escalating demand for packaging, and growing stringency of labelling regulations. Coding and marking equipment is widely used in industries like food and beverage, pharmaceuticals, automotive, and electronics. This market has been experiencing significant growth due to increasing demand for product traceability and anti-counterfeiting measures. Our report examines historic data from 2018 - 2022, besides analyzing the current and forecasts market scenario.
Market Forecast 2023-2028
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Coding and Markeing Equipment Market report includes detail coverage of segmenatation by Global, region and country; estimates and forecast (USD Billion) from (2024 to 2028) and Historical analysis from (2018 to 2023)
Market Segmentation |
Global, Region and Country Segment Analysis |
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Market segments are provided for following regions and countries.
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The CIJ segment will account for a major share of the market's growth during the forecast period. The laser coding and marking segment holds the second-largest market share. CIJ Printing and Coding is a contactless printing solutions system that uses a variety of CIJ inks to print on a variety of packaging materials. These printers provide high-quality prints due to their high drop-off frequency. There is a high demand for CIJ printing for coding and marking glass and plastic bottles, aluminum cans, cartons, and paperboards. Due to the advantages and wide range of applications, many companies use CIJ printers in their production lines.
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The CIJ segment was valued at USD 1.27 billion in 2018 and continued to grow until 2021. The significant increase in demand due to their increasing use in the food and beverage industry and the cable manufacturing industry will drive market growth in this segment in the future. CIJ printers are widely used for coding and marking metal cans in the food and beverage industry. Hence, the growth of the metal cans market in the food and beverage industry is expected to increase the demand for CIJ printers worldwide during the forecast period.
Based on the end-user, the market has been segmented into food and beverage, healthcare, industrial, and others. The food and beverage segment will account for the largest share of this segment. The food and beverage industry is a major end-user, packaged f&b manufacturers use barcodes and QR codes to track and trace their products. Governments are establishing strict coding and marking rules and regulations for food and beverage manufacturing companies. thus, packaged food and beverage manufacturers use encryption coding and marking on their products to comply with such regulations. Globally, the packaged food industry is growing at breakneck speed. These products require spotless encryption and quick-drying inks to meet product security requirements. Most products will display important information such as the product brand, manufacturing date, expiration date, and product description. Hence, such factors will drive the growth of the market through this segment during the forecast period.
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APAC is estimated to contribute 41% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. In APAC, China and India are the major growth contributing countries for the market in the region. Both countries have a large number of manufacturing-focused companies. Many leading companies in the wire and cable, pharmaceutical, food and beverage, electrical and electronic industries have opened their production facilities in these countries due to the low-cost availability of resources. and growing demand for local consumer goods. China has a well-established electrical and electronics manufacturing ecosystem, while India has a burgeoning food and beverage manufacturing industry. Over the last few years, both countries have seen significant growth in the electronics and processed food sectors due to supportive government policies. The APAC market is expected to witness remarkable growth driven by the growth in the number of SMEs and the booming electronics sector in India and China.
Technological advancements, such as the development of inkjet and laser coding systems, have revolutionized the market. Inkjet printing technology holds the largest market share. Coding equipment employs cutting-edge technologies to meet the diverse demands of industries globally. In Latin America, where consumption patterns are evolving, these solutions play a pivotal role. Spain, a key market, witnesses robust competition among the providers. Technological advancements in coding solutions, printing systems, and coding systems address restraints and enhance product identification, ensuring efficiency in production processes and contributing to the ever-evolving landscape of the coding and marking industry.
This market finds extensive applications across industries, particularly in Latin America, where businesses rely on innovative solutions to enhance product identification and compliance. Matthews International Corporation's coding and printing systems offer reliable coding solutions, addressing the varied needs of consumers. The technology not only caters to diverse industries but also competes effectively with other coding equipment providers. In Spain, Matthews' coding systems have gained prominence, contributing to streamlined production and meeting regulatory standards. Despite potential restraints, the demand for advanced features continues to grow, reflecting the pivotal role these solutions play in optimizing consumption and operational efficiency.
This market research and growth report provides a detailed analysis of drivers, trends, and challenges and the recent strategies implemented by the companies which will help market players stay ahead amongst their competitors in the market. The market refers to the industry that produces machines used for printing codes and markings on various products. Most manufacturers in the food and beverage industry utilize coding and marking equipment for product labeling. Laser coding systems are experiencing exponential growth in the market.
Packaging companies are integrating technologies such as barcodes, RFID, QR codes, and Data Matrix codes for tracking and tracing products. Moreover, product traceability is one of the most important features in supply chain and logistics operations, especially in industries such as food and beverage, healthcare, retail, automotive, and aerospace.
Furthermore, Data Matrix codes enable manufacturing companies to automatically identify and track products, such as cars, trucks, and bikes, throughout their life cycle. The codes and marks play a crucial role in various industries such as food and beverage, aerospace, healthcare, retail, and automotive. Hence, the increasing need for product traceability will propel the demand for the market.
High running costs act as a constraint for organizations investing in marking machine market. Hence, organizations are deploying through lease options to save on capital costs. Leasing the equipment simplifies the coding and marking process for a company as it reduces running costs, such as maintenance costs, servicing costs, and disposal costs.
Moreover, the popularity of the equipment leasing model among small and medium-scale enterprises is rising as it does not require direct investments in equipment, preserves working capital, and frees up cash flow for other business activities. Furthermore, several market players are offering leasing business solutions due to the growing demand for equipment leasing. Thus, such factors will fuel the market growth and trends during the forecast period.
Future Trends and Opportunities
The market is witnessing significant growth, driven by meticulous market growth analysis and research. The market growth and forecasting play a pivotal role in the development of coding equipment, addressing diverse needs in the packaging industry. With a focus on innovation, Matthews International Corporation responds to some of the key challenges faced by customers. This dynamic market underscores the importance of reliable marking equipment, emphasizing precision and efficiency in product identification across global industries.
The total cost of ownership of coding equipment is generally high. Upfront costs include various capital costs such as initial investment, material handling cost, and installation cost. Companies have to incur various upfront costs as well as running and operational costs while deploying their manufacturing process line.
Additionally, marking and coding equipment is an integral part of any process line. Thus, any downtime would lead to production loss for companies. Due to the high initial costs, the adoption of the equipment among small and medium-scale enterprises is slow. As a result, the high running cost associated will impede the growth of the market during the forecast period.
The regulatory landscape is integral to the coding industry's growth. Governments globally are vigilant in establishing standards for coding technology, marking technology, and related machinery markets. Compliance requirements drive the coding and marking industry, ensuring the precision and reliability of coding equipment. Stringent regulations influence the coding equipment market, impacting coder development and marking machines. Matthews International Corporation adheres to these standards in the dynamic coding and marking systems market, contributing to the evolving coding industry by providing innovative solutions. This regulatory framework underscores the significance of accurate and efficient coding marking systems in diverse applications worldwide.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
SATO Holdings Corp.: The company offers continuous inkjet (CIJ) printers and Inkjet printers.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
ATD UK, BestCode, Brother Industries Ltd., Cyklop International, Danaher Corp., Diagraph, Dover Corp., Engage Technologies Corp., Hitachi Ltd., Illinois Tool Works Inc., Keyence Corp., Matthews International Corp., MULTIVAC Sepp Haggenmuller SE and Co. KG, Overprint Ltd., Paul Leibinger GmbH and Co. KG, Pro Mach Inc., REA Elektronik GmbH, RN Mark Inc., SATO Holdings Corp., and Control Print Ltd. (In Paragraph format make sure you give comma and grammatically correct spacing)
Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
Industry Scope |
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Report Coverage |
Details |
Page number |
182 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.89% |
Market growth 2024-2028 |
USD 1.46 billion |
Market structure |
USD Fragmented |
YoY growth 2023-2024(%) |
6.05 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 41% |
Key countries |
US, China, Japan, Germany, and UK |
Key companies profiled |
ATD UK, BestCode, Brother Industries Ltd., Cyklop International, Danaher Corp., Diagraph, Dover Corp., Engage Technologies Corp., Hitachi Ltd., Illinois Tool Works Inc., Keyence Corp., Matthews International Corp., MULTIVAC Sepp Haggenmuller SE and Co. KG, Overprint Ltd., Paul Leibinger GmbH and Co. KG, Pro Mach Inc., REA Elektronik GmbH, RN Mark Inc., SATO Holdings Corp., and Control Print Ltd. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 North America Market Analysis and Forecast
8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis
8.2. Market Size Value (US$ Million) & Volume (Units) Forecast by Country
8.3 North America Market Analysis and Forecast by Technology
8.4 North America Market Analysis and Forecast by Application
8.5 North America Market Analysis and Forecast by End-Use Industry
8.6. Market Attractiveness Analysis
9. South America Market Analysis and Forecast By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Country
9.3. South America Market Analysis and Forecast by Technology
9.4. South America Market Analysis and Forecast by Application
9.5. South America Market Analysis and Forecast by End-Use Industry
9.6. Market Attractiveness Analysis
10. Europe Market Analysis and Forecast by Country
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast by Country
10.3. Europe Market Analysis and Forecast by Technology
10.4. Europe Market Analysis and Forecast by Application
10.5. Europe Market Analysis and Forecast by End-Use Industry
10.6. Market Attractiveness Analysis
11. APAC Market Analysis and Forecast by Country
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast by Country
11.3. APAC Market Analysis and Forecast by Technology
11.4. APAC Market Analysis and Forecast by Application
11.5. APAC Market Analysis and Forecast by End-Use Industry
11.6. Market Attractiveness Analysis
12. MEA Market Analysis and Forecast by Country
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Country
12.3. MEA Market Analysis and Forecast by Technology
12.4. MEA Market Analysis and Forecast by Application
12.5. MEA Market Analysis and Forecast by End-Use Industry
12.6. Market Attractiveness Analysis
13 Customer Landscape
14 Geographic Landscape
15 Drivers, Challenges, and Trends
16 Vendor Landscape
17 Vendor Analysis
18 Appendix
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