The coding and marking market is projected to grow to $6.60 billion by 2022, growing at a CAGR of 6.25% during 2016-2022.
Arizton’s latest research report on the coding and marking market lists Brother Industries, Danaher, Dover, Hitachi, and ITW as the leading vendors that are likely to dominate the market during the forecast period. The study provides a detailed analysis of market segmentation by technology ((primary (CIJ, Laser, and TTO) and secondary (Palm, PIJ, VIJ, and TIJ)), product (equipment, consumables, and spare parts, and aftermarket), end-users (food and beverage, healthcare, electrical & electronics, chemicals & construction, and others), and geography (North America, Latin America, Western Europe, C&E Europe, APAC, and MEA).
The three major segments in the global coding and marking market are discussed in detail below:
APAC to dominate market share in coding and marking market during the forecast period
In terms of geography, the global coding and marking market is divided into six major regions: North America, Latin America, Western Europe, Central and Eastern Europe, APAC, and MEA. APAC dominated the coding and marking market by accounting for more than 29% of the total market share in 2017 and is expected to generate revenue of about $2.03 billion by 2022. The emergence of innovative, flexible packaging designs in countries such as Japan, South Korea, China, Indonesia, and India is driving the coding and marking market in the APAC region. The increasing demand for food products, electronic equipment, automobiles, and consumer durable items is propelled the development of the coding and marking market in APAC.
PALM technology segment will grow at an impressive CAGR in the coding and marking market during the forecast period
In terms of technology, the coding and marking market is divided into seven categories: CIJ, Laser, TTO, PALM, PIJ, VIJ, and TIJ.
The print and apply labeling machine (PALM) technology is the fastest growing segment in the coding and marking market, growing at a CAGR of 7.86% during the forecast period.
This market segment comprises wipe-on, blow-on, twin-face apply, reverse-wipe tray, and pallet labelers. The extensive use of PALM technology for printing different types of text, numbers, graphics, barcodes, and logos on products and packages in the food and beverage industry is driving the growth of the coding and marking market. This technology automatically prints and applies labels to the product as it moves along the production line or any logistics facility, thereby improving the productivity of different business operations.
Food and beverage segment to occupy the largest market share in the coding and marking market during the forecast period
The global coding and marking market by application is segmented into five categories: food and beverage, healthcare, electrical and electronics, chemicals and construction, and others.
The food and beverage segment dominated the global coding and marking market occupying close to 49% of the total market share in 2017.
The tremendous growth rate of the pre-packed snack industry is driving the demand for coding and marking products in the food and beverage industry. TTO, TIJ, CIJ, and laser are the most widely used coding and marking technologies in this industry. Vendors will focus on developing taint-free coding and fast-drying inks to meet the high requirements from the confectionery industry during the forecast period.
Control Print, ID Technology, Iconotech, Inkjet, Keyence, Macsa, Matthews International, Paul Leibinger, SATO Holdings, Squid Ink, Universal Labeling Systems, Weber Marking Systems, and Xaar are the other prominent vendors in the coding and marking industry.
The complete overview of the latest market research report on the coding and marking market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges, and provides the market size and forecast for major geographical regions and key countries.
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