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Coding And Marking Equipment Industry Overview
The global coding and marking equipment market size was valued at USD 14.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2021 to 2028.
The growth of the market can be attributed to the growing demand for coding and marking equipment, particularly from the pharmaceutical and food and beverage industries. Incumbents of the pharmaceutical industry are putting a strong emphasis on countering counterfeiting and tampering by using flexible packs, such as forming films, top webs, chevron pouches, header bags, and strip bags with specific codes and marking, which bodes well for the growth of the market. Similarly, the growing preference among consumers for packaged and labeled food and beverages is encouraging food beverage manufacturers to deploy coding and marking equipment.
Gather more insights about the market drivers, restrains and growth of the Global Coding And Marking Equipment Market
The outbreak of the COVID-19 pandemic took a severe toll on the coding and marking equipment market. Production activities at several manufacturing sites were suspended temporarily as part of the lockdowns and restrictions imposed as part of the efforts to arrest the spread of coronavirus. Restrictions on the movement of people and goods also affected the exports and imports of the equipment. The overall coding and marking equipment market may have plummeted in the wake of the pandemic; however, an uptick in the demand for coding and marking equipment from the pharmaceutical and healthcare industry was typically evident during Q1/2020 and Q2/2020, as the incumbents of the industry put a strong emphasis on appropriately coding and marking medical equipment, such as medical masks, and personal protective equipment (PPE) kits.
The quality of food can have a direct impact on consumers’ health. Hence, food safety is turning out to be a major concern for the incumbents of the food industry. Compromised quality, compliance failures, and subsequent product recalls can lead to severe monetary losses and leave food companies with a tarnished reputation along with a loss of customer loyalty and diminished brand value. As a result, food and beverage companies are putting a strong emphasis on implementing coding and marking equipment.
In the automotive industry, coding and marking equipment can play a vital role in countering counterfeit automobile parts by coding the automobile parts appropriately. The Automotive Aftermarket Suppliers Association (AASA) estimated that the automotive industry loses approximately USD 12 billion every year due to counterfeit products. Automotive manufacturers typically prefer invisible inks to print scannable, anti-counterfeiting barcodes to counter counterfeiting. The anti-counterfeiting efforts being pursued by the incumbents of the automotive industry are expected to drive the demand for coding and marking equipment.
However, coding and marking machines tend to be very expensive. Implementing coding and marking systems can be a highly capital-intensive task. All the participants of the supply chain, especially the smaller players, may not possess adequate financial resources to have the infrastructure in place required to implement coding and marking systems. Hence, the high prices associated with the coding and marking equipment are expected to restrain the growth of the market over the forecast period.
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Coding And Marking Equipment Market Segmentation
Grand View Research has segmented the global coding and marking equipment market based on product type, end-use industry, and region:
Coding And Marking Equipment Product Type Outlook (Revenue, USD Million, 2016 - 2028)
- Continuous Inkjet (CIJ) Printer
- Thermal Inkjet (TIJ) Printer
- Piezo Inkjet Printer
- Laser Printer
- Others
Coding And Marking Equipment End-use Industry Outlook (Revenue, USD Million, 2016 - 2028)
- Food and Beverage
- Pharmaceutical
- Construction
- Cosmetics
- Others
Coding And Marking Equipment Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
Market Share Insights
- September 2021: Linx Printing Technologies launched two new thermal inkjet (TIJ) printer models, namely Linx TJ20 and Linx TJ50, as part of the efforts to strengthen its range of coders. The two models are tailored to the specific needs of customers. Both the models can be used to print onto plastics, coated cards, metals, and films.
- February 2021: Videojet Technologies launched a new CIJ printer called Videojet 1880. The printer leverages advanced, digital technology to help users in preventing manufacturing downtime while delivering excellent performance.
Key Companies profiled:
Some of the prominent players operating in the global coding and marking equipment market are:
- Danaher Corp.
- Domino Printing Sciences Plc
- Hitachi Ltd.
- Markem-Imaje Group
- Matthews International Corporation
- Leibinger Group
- REA Elektronik GmbH
- ProMach Inc.
- Koenig Bauer Coding GmbH
- HSA Systems
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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