Global Coding And Marking Market Research Report 2020-2029

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THE GLOBAL CODING AND MARKING MARKET SIZE IS EXPECTED TO SURPASS USD 10.45 BILLION BY 2029 AND IS GROWING AT A CAGR OF 8.59% DURING THE FORECAST PERIOD.

The Coding And Marking Market Size, Share, & Trends Analysis Report By

  1. Technology: CIJ, Laser, Palm, TTO, PIJ, VIJ, and TIJ
  2. End-Users: Food & Beverage, Healthcare, Electrical & Electronics, Chemical & Construction, Automotive & Aerospace, and Others
  3. Product Mix: Consumables, Equipment, and Spare Parts & Aftermarket
  4. Geography: North America, Europe, APAC, Latin America, and Middle East & Africa

Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast 2024–2029.

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GLOBAL CODING AND MARKING MARKET REPORT SCOPE

REPORT ATTRIBUTEDETAILS
Market Size (2029)USD 10.45 Billion
CAGR (2023-2029)8.59%
HISTORIC YEAR2020-2022
Base Year2023
FORECAST YEAR2024-2029
Market SegmentsTechnology, End-Users, Product Mix, and Geography
Geographic AnalysisNorth America, Europe, APAC, Latin America, and Middle East & Africa
KEY PLAYERSBrother Industries, CONTROL PRINT, Dover Corporation, Hitachi Industrial Equipment & Solutions, ITW Diagraph, and Videojet Technologies
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INDUSTRY INSIGHTS

The global coding and marking market is experiencing a remarkable surge, with a valuation of USD 6.37 billion in 2023, and is projected to cross USD 10.45 billion, driven by a CAGR of 8.59% during the forecast period. The market is on a solid growth trajectory, driven by technological advancements, increasing demand for processed foods, and the need for accurate and reliable product labeling. As the market evolves, companies delivering high-quality, cost-effective solutions will be well-positioned to capitalize on the growing demand across various industries and regions. Coding and marking are vital components of product labeling and packaging, involving applying crucial information such as lot numbers, expiration dates, barcodes, and other identifying marks. These marks ensure that products remain traceable, identifiable, and compliant with regulations throughout their journey in the supply chain. The equipment used for coding and marking is essential in maintaining product integrity and authenticity, particularly in critical sectors like food and beverage (F&B), healthcare, and automotive.

MARKET DRIVERS AND OPPORTUNITIES

Technological Advancements in Coding and Marking Systems

The coding and marking market has seen significant technological advancements, particularly in automation, digital printing, and software integration. Adopting advanced technologies like laser coding, thermal inkjet, and continuous inkjet printing has enabled companies to achieve high-speed production with greater accuracy and efficiency. One of the notable trends is the increasing use of laser coding systems. Laser technology offers several advantages, including high-quality, permanent marks resistant to wear and tear. Moreover, laser systems are environmentally friendly as they do not require consumables like ink or ribbons, reducing waste and operational costs. Integrating IoT (Internet of Things) and AI (Artificial Intelligence) in coding and marking systems is another key development. These technologies allow for real-time monitoring, predictive maintenance, and enhanced automation, improving productivity and reducing downtime.

Growing Demand for Sustainable Solutions

Sustainability has become a crucial focus across industries, and the coding and marking market is no exception. Companies are increasingly adopting eco-friendly practices, which include using sustainable materials, reducing energy consumption, and minimizing waste. For instance, water-based and solvent-free inks are gaining popularity as they offer a safer and more sustainable alternative to traditional inks. In addition, there is a growing trend towards recyclable and biodegradable packaging, which necessitates using coding and marking systems to print on these materials effectively. The push for sustainability also drives innovations in ink formulations and printing technologies, focusing on reducing the environmental impact of coding and marking processes.

Stringent Regulations and Compliance Requirements

Regulatory bodies worldwide enforce stricter guidelines regarding product labeling, traceability, and safety. Industries such as food and beverage, pharmaceuticals, and electronics are particularly affected by these regulations. For example, implementing the EU's Falsified Medicines Directive (FMD) and the U.S. FDA's Drug Supply Chain Security Act (DSCSA) has increased demand for coding and marking solutions that ensure compliance with serialization and traceability requirements. Moreover, the growing concern over counterfeit products has heightened the need for robust coding and marking systems to provide accurate and tamper-proof identification. As a result, companies are investing in advanced solutions that enable them to meet regulatory requirements while ensuring the integrity of their products throughout the supply chain.

Customization and Personalization

In today's competitive market, businesses seek ways to differentiate their products and create a unique brand identity. Customizing and personalizing packaging and labeling have become key strategies for achieving this goal. As a result, coding and marking systems are increasingly being designed to offer greater flexibility and versatility. Digital printing technologies, in particular, have enabled companies to produce customized labels and packaging on demand, allowing for shorter production runs and quicker turnaround times. This trend is especially prevalent in the food and beverage industry, where personalized packaging has become a popular marketing tool.

Surge in Laser Coding Technology

The increasing demand for laser coding technology is a significant trend in the coding and marking market. This method has rapidly gained popularity across various industries, including cosmetics, personal care, F&B, and automotive, due to its superior permanence and quality compared to other coding techniques. Laser coding ensures that markings remain intact throughout the supply chain, drastically reducing the risk of product counterfeiting. Also, global vendors have recently launched a variety of laser marking solutions, driven by the need to meet stringent regulatory standards and the evolving demands of packaging. As laser marking demonstrates its durability and reliability, its adoption across industries is expected to accelerate, further propelling market growth.

Rising Demand for Processed and Packaged Foods

The global increase in demand for processed and packaged foods is another critical driver of the coding and marking market. As disposable incomes rise and populations expand, especially in regions like Asia-Pacific (APAC), the consumption of packaged foods has surged. Urbanization in India, China, and other APAC nations also contributes to market growth. As more consumers prefer packaged foods, the need for reliable coding and marking solutions to ensure accurate labeling and compliance with safety regulations becomes increasingly crucial. This trend will persist as food safety and traceability regulations become more stringent worldwide.

INDUSTRY RESTRAINTS

Operational Errors and High Costs

Despite the market’s promising growth, the coding and marking market faces significant challenges, particularly concerning operational errors and their associated high costs. Human errors are responsible for a substantial portion of product coding mistakes, which can have costly implications for manufacturers. Also, large-scale manufacturers, especially in sectors like F&B and automotive, focus on reducing human error as they transition toward Industry 4.0. The competitive market demands vendors offer innovative solutions to address these challenges, ensuring smooth and efficient production processes.

SEGMENTATION INSIGHTS

Technology Segment: CIJ and Laser Marking Lead the Way

In 2023, Continuous Inkjet (CIJ) technology dominated the global coding and marking market, capturing the largest market share. CIJ technology is widely used due to its versatility and ability to print on various substrates, including curved and irregular surfaces. This versatility makes it an ideal solution for the packaging industry, where products come in diverse shapes and sizes.

Conversely, the laser marking segment is expected to witness the highest CAGR during the forecast period. Laser marking's ability to produce high-quality, durable markings on various substrates, including metals, plastics, and ceramics, makes it increasingly popular across industries. This technology's growth is also driven by its capability to create barcodes, QR codes, and logos, which are critical for product identification and traceability.

End-User Segment: Food & Beverage Industry Leads

The food and beverage (F&B) industry emerged as the largest end-user segment in 2023, fueled by the need for accurate coding and marking solutions to meet evolving consumer demands. As global markets expand and consumer spending increases, the demand for reliable coding and marking solutions in the F&B sector is set to grow.

With consumers becoming more conscious of the ingredients in their food, regulatory scrutiny on product packaging has intensified. Effective coding and marking ensure products comply with government regulations and promote healthy food choices. Moreover, the growing demand for sustainable packaging and visually appealing product designs further drives growth in this segment.

Product Mix Segment: Consumables Product Mix Dominating The Industry

In 2023, consumables were the largest segment, essential for high-quality printing in various industries. Key consumables include printheads, ribbons, and inks for specific technologies and applications. Further, leading companies in the consumables market include Domino Printing Sciences, Videojet Technologies, and Markem-Imaje. They provide reliable products known for their precision and durability.

GEOGRAPHICAL ANALYSIS

In 2023, Asia-Pacific (APAC) dominated the global coding and marking market, accounting for over 31% of the market share. The region's growth is fueled by a rising population and increasing demand for packaged products, particularly in countries like China and India. The growth of e-commerce and online retailing in APAC also contributes to the demand for coding and marking systems. Furthermore, North America is another critical market, with applications spanning various industries, including F&B, pharmaceuticals, and packaging. The region has numerous large multinational manufacturing companies, such as PepsiCo, Nestle, Pfizer, and Novartis, with stringent product coding and marking requirements. The demand for product traceability and safety in North America is expected to drive industry growth in the coming years.

COMPETITIVE LANDSCAPE

The global coding and marking market is highly competitive and fragmented, with numerous players offering various products and solutions. Major players like Brother Industries, CONTROL PRINT, Dover Corporation, Hitachi Industrial Equipment & Solutions, ITW Diagraph, and Videojet Technologies dominate the market. These companies focus on product excellence, innovation, and customer support to differentiate themselves in a crowded marketplace. Also, smaller competitors, such as Squid Ink Manufacturing, REA Elektronik, and Linx Printing Technologies, play significant roles, often focusing on specific market niches or specialized applications. As the demand for coding and marking services continues to grow, competition among these companies is expected to intensify, leading to the introduction of more innovative and advanced solutions.

Key Developments in the Global Coding and Marking Market

  1. Videojet Technologies: Videojet Technologies, a prominent player in the coding and marking market, has been focusing on enhancing connectivity and automation in its product offerings. The company's latest inkjet printers and laser marking systems are equipped with IoT-enabled features, allowing for real-time monitoring and remote control of coding operations. These systems can integrate seamlessly with smart factory environments, providing users with data analytics and predictive maintenance capabilities to minimize downtime and improve overall efficiency.
  2. Hitachi Industrial Equipment & Solutions: The company has been expanding its range of continuous inkjet (CIJ) printers, known for their reliability and versatility in various industrial applications. The company's latest CIJ printers feature improved printhead technology, delivering higher precision and better print quality, even at high speeds. These printers are designed to operate in demanding environments, such as automotive and electronics manufacturing, where consistent and accurate coding is crucial.
  3. Matthews International: Matthews International has been a key player in developing high-resolution printing technology for the coding and marking market. The company's latest thermal inkjet (TIJ) printers are designed to deliver sharp, high-definition prints on a wide range of substrates, including porous and non-porous materials. These printers are particularly well-suited for applications in the packaging industry, where clear and legible codes are essential for product identification and traceability. The company has also been investing in software development to enhance the capabilities of its coding and marking systems.
  4. KGK Jet: KGK Jet, a prominent player in the coding and marking market, has been focusing on expanding its product portfolio with innovative ink technologies. The company has developed advanced UV and solvent-based inks with high adhesion and durability, making them ideal for marking challenging substrates like plastics, metals, and glass. These inks are designed to provide clear and legible codes, even in harsh environments, ensuring product traceability and compliance with industry regulations. The company has also been investing in R&D to enhance the reliability and efficiency of its inkjet printers.
  5. Squid Ink: The company, a leading U.S.-based provider of coding and marking solutions, has been advancing its product line with a focus on large-character printers (LCP). These printers are designed for high-resolution marking on corrugated boxes, shipping containers, and other large surfaces. Squid Ink's CoPilot and Jetstream series offer robust performance with easy-to-use interfaces, making them ideal for industrial environments where high-speed, high-quality coding is essential. In addition to hardware innovations, Squid Ink has been expanding its ink offerings, including solvent-based, water-based, and UV-curable inks that cater to various applications.

Frequently Asked Questions

What is the current market size of the coding and marking market?

The global coding and marking market was valued at USD 6.37 billion in 2023.

What is the growth rate of the global coding and marking market?

The global coding and marking market is projected to grow at a CAGR of over 8.59% during the forecast period.

What factors drive the growth of the global coding and marking market?

Key drivers driving the global coding and marking market include rising demand for packaged foods, laser coding technology, and regulatory compliance needs.

The global coding and marking market size is expected to grow at a CAGR of approximately 8.59% from 2023 to 2029.

The following factors are likely to contribute to the growth of the global coding and marking market during the forecast period:

  1. Rising Demand for Traceability by End-users
  2. Significant Rise in Flexible Packaging
  3. Increased Demand for Processed & Packaged Food
  4. Rising Applications Across End-user Industries
  5. Increasing Regulatory Compliance

Base Year: 2023

Forecast Year: 2024-2029

The report considers the present scenario of the global coding and marking market and its market dynamics for 2024−2029. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the industry. It also profiles and analyzes leading companies and several other prominent companies operating in the industry.

Key Company Profiles

  1. Brother Industries
  2. Business Overview
  3. Product Offerings
  4. Key Developments
  5. Key Strategies
  6. Key Strengths
  7. Key Opportunities
  8. CONTROL PRINT
  9. Dover Corporation
  10. Hitachi Industrial Equipment & Solutions
  11. ITW Diagraph
  12. Videojet Technologies

Other Prominent Vendors

  1. ANSER Coding
  2. Business Overview
  3. Product Offerings
  4. ATD UK
  5. Beijing Hi-Pack Coding
  6. EBS Ink-Jet Systems
  7. Guangzhou EC-PACK Packaging Equipment
  8. ICONOTECH
  9. ID Technology
  10. Inkjet
  11. Jet Inks
  12. KGK Jet
  13. KEYENCE
  14. Koenig & Bauer Coding
  15. Kortho Coding & Marking
  16. Laserax
  17. Leibinger Group
  18. Macsa ID
  19. Matthews International
  20. MECCO
  21. REA Elektronik
  22. Squid Ink
  23. Weber Marking Systems
  24. Xaar
  25. Zanasi

Segmentation by Technology

  1. CIJ
  2. Laser
  3. Palm
  4. TTO
  5. PIJ
  6. VIJ
  7. TIJ

Segmentation by End-Users

  1. Food & Beverage
  2. Healthcare
  3. Electrical & Electronics
  4. Chemical & Construction
  5. Automotive & Aerospace
  6. Others

Segmentation by Product Mix

  1. Consumables
  2. Equipment
  3. Spare Parts & Aftermarket

Segmentation by Geography

  1. APAC
  2. China
  3. Japan
  4. India
  5. Australia
  6. South Korea
  7. Indonesia
  8. North America
  9. The U.S.
  10. Canada
  11. Europe
  12. Germany
  13. The U.K.
  14. France
  15. Italy
  16. Benelux
  17. Spain
  18. Latin America
  19. Brazil
  20. Mexico
  21. Argentina
  22. Middle East & Africa
  23. South Africa
  24. Iran
  25. UAE
  26. Nigeria
  27. Saudi Arabia

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1. Scope & Coverage

  1. Market Definition
  2. Inclusions
  3. Exclusions
  4. Market Estimation Caveats
  5. Market Size & Forecast Periods
  6. Historic Period: 2020-2022
  7. Base Year: 2023
  8. Forecast Period: 2024-2029
  9. Market Segments
  10. Market Segmentation by Technology
  11. Market Segmentation by End-user
  12. Market Segmentation by Product Mix

2. Opportunity Pockets

3. Introduction

4. Market Opportunities & Trends

  1. Expanding Exhibitions, Expos, and Trade Platforms
  2. Growing Demand for Laser Coding
  3. Advances in Coding & Marking Systems
  4. Evolving Secondary Packaging Market
  5. Innovative Consumable Offerings
  6. Growing Adoption of Automation & Robotics

5. Market Growth Enablers

  1. Rising Demand for Traceability by End-users
  2. Significant Rise in Flexible Packaging
  3. Increased Demand for Processed & Packaged Food
  4. Rising Application Across End-user Industries
  5. Increasing Regulatory Compliance
  6. Rising Demand from the Healthcare Industry

6. Market Restraints

  1. Increasing Counterfeiting of Products
  2. Operational Errors & High Cost
  3. Limited Availability of Skilled Labor & High Labor Cost
  4. Trade Conflicts Between US & China

7. Market Landscape

   Five Forces Analysis

8. Technology (Market Size & Forecast: 2020-2029)

  1. CIJ
  2. Laser
  3. PALM
  4. TTO
  5. PIJ
  6. VIJ
  7. TIJ

9. End-user (Market Size & Forecast: 2020-2029)

  1. Food & Beverage
  2. Healthcare
  3. Electrical & Electronics
  4. Chemical & Construction
  5. Automotive & Aerospace
  6. Others

10. Product Mix (Market Size & Forecast: 2020-2029)

  1. Consumables
  2. Equipment
  3. Spare Parts & Aftermarket

11. Geography (Market Size & Forecast: 2020-2029)

  1. APAC
  2. China
  3. Japan
  4. India
  5. Australia
  6. South Korea
  7. Indonesia
  8. North America
  9. US
  10. Canada
  11. Europe
  12. Germany
  13. UK
  14. France
  15. Italy
  16. Benelux
  17. Spain
  18. Latin America
  19. Brazil
  20. Mexico
  21. Argentina
  22. Middle East & Africa
  23. South Africa
  24. Iran
  25. UAE
  26. Nigeria
  27. Saudi Arabia
  28. Competitive Landscape
  29. Competitive Overview
  30. Key Developments
  31. Market Share Analysis

19. Key Company Profiles

20. Other Prominent Company Profiles

21. Report Summary

  1. Key Takeaways
  2. Strategic Recommendations

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Frequently Asked Questions

What is the current market size of the coding and marking market?

The global coding and marking market was valued at USD 6.37 billion in 2023.

What is the growth rate of the global coding and marking market?

The global coding and marking market is projected to grow at a CAGR of over 8.59% during the forecast period.

What factors drive the growth of the global coding and marking market?

Key drivers driving the global coding and marking market include rising demand for packaged foods, laser coding technology, and regulatory compliance needs.