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Rising Digital Trends in Packaging are laying out the Groundwork for the Progress of the Marking and Coding Equipment Market

The expanding packaging sector in developing nations is fueling a surge in demand for marking and coding equipment, to reach a market value of US$ 1.45 Billion by 2034. Marking and Coding Equipment Market driven by packaging sector growth, digital adoption, and end-use industries expansion. Cost remains a constraint.

NEWARK, Del, March 27, 2024 (GLOBE NEWSWIRE) — The marking and coding equipment market is expected to be valued at US$ 1,147.9 million in 2024. The progress of the market is projected to be consistent over the period from 2024 to 2034, with a CAGR of 2.3%. By 2034, the market value is forecasted to hit US$ 1,455.1 million.

Marking and coding equipment demand is being propelled by the simultaneous rise of the packaging sector. The packaging industry is especially being given attention in developing countries and these countries are proving to be lucrative grounds for the marking and coding equipment market. The increasing adoption of digital equipment is also aiding the market. Measures such as tracking products and detecting counterfeit products are helped by marking and coding equipment, further boosting their demand in the packaging sector.

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The marking and coding industry is benefitting from the continued progress of various end-use industries. Food and beverage is a prominent industry whose growth is immensely affecting the marking and coding equipment market. Other industries using the equipment in increasing measure include pharmaceuticals and automobiles.

High costs associated with equipment restrain the growth of the market, however. Both installation and maintenance costs of the equipment may be substantial, leading to hesitation in buying it. The risk of loss of income due to downtime of the machines is also a hindrance.

“As part of digitization trends, digital printing equipment’s demand is being bolstered. Laser printers too are rising in popularity. Thus, innovation in products is recognized as the way to go in the market,” Says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).

Key Takeaways from the Marking and Coding Equipment Market:

  • The marking and coding equipment market is projected to be valued at US$ 1,147.9 million in 2024.
  • Continuous inkjet printer is the prevailing technology in the market. Continuous inkjet printer is expected to account for 47.6% of the market share in 2024.
  • Food industry tops the end use segment. For 2024, food end use is anticipated to account for 43.6% of the market share.
  • India is a promising country for the market. For the forecast period, the CAGR for India is estimated to be 5.1%.
  • China is another Asian country with a bright future for the market. The CAGR for China over the forecast period is predicted to be 4.2%.
  • The market is expected to register a CAGR of 2.4% in Spain over the forecast period.

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Competition Analysis of the Marking and Coding Equipment Market

Varying the product line and keeping production levels enough to meet demand are key concerns in the market. Both collaborative strategies and acquisitions are commonplace in the market. Some of the prominent companies in the market include Hitachi America, Ltd., Videojet Technologies, Inc., Markem-Imaje Corporation, and Domino Printing Sciences plc.

Key Companies in the Marking and Coding Equipment Industry:

  1. Hitachi America, Ltd.
  2. Videojet Technologies, Inc.
  3. Markem-Imaje Corporation
  4. Domino Printing Sciences plc.
  5. TYKMA Electrox, Inc.
  6. Squid Ink Manufacturing Inc.
  7. Open Date Systems, Inc.
  8. MACSA ID, S.A.
  9. ATD Ltd
  10. RN Mark Inc.
  11. Interactive Coding Equipment (ICE)
  12. Diagraph Corporation
  13. Linx Printing Technologies
  14. Numeric Marking Systems.
  15. Control Print Ltd.
  16. Durable Technologies
  17. REA Elektronik GmbH
  18. Matthews International Corporation
  19. INKJET, INC.
  20. KGK Marking Technologies Group

Recent Developments in the Marking and Coding Equipment Market

  • In January 2024, the Marking Trigger Device was launched by Markem-Imaje.
  • At Pack Expo 2023, the IQJET coding and marking system was introduced by Leibinger.
  • In September 2021, the R-series was launched by Domino.

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Key Segments

By Technology:

  • Continuous Inkjet (CIJ)
  • Thermal Inkjet (TIJ)
  • Thermal Transfer Overprint (TTO)
  • Laser Coding System
  • Large Character Marking (LCP)
  • Label Print Applicator (LPA)
  • Other Printers

By Application:

  • Flexible Packaging
    • Bags
    • Pouches & Sachets
    • Vacuum / Shrink films
    • Others
  • Rigid Packaging
    • Pipes & Tubes
    • Boxes
    • Bottles & Jars
    • Cans
    • Metal Parts
    • Trays & Clamshells
    • Crates
    • Others

By End Use Industry:

  • Food
  • Beverages
  • Pharmaceuticals
  • Personal & Homecare
  • Electricals & Electronics
  • Automotive
  • Chemical & Fertilizers
  • Building Materials
  • Other Industries

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa (MEA)

Authored by:

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics. 

Have a Look at Related Research Reports on Packaging Domain:

The global labeling equipment market is projected to reach US$ 6,011.9 million by 2033, sales of labeling equipment are likely to rise at a CAGR of 4.9%.

The global packaging testing equipment market is expected to surpass US$ 7,148.5 million by 2033. Future Market Insights forecasts the demand for packaging testing equipment to grow by 6.2% CAGR between 2023 and 2033.

The global pharmaceutical packaging equipment market is projected to grow at a CAGR of 4.1% between 2023 and 2033, totaling around US$ 8.4 billion by 2033.

The global shrink sleeve labeling equipment market is expected to garner a valuation of US$ 24 billion by exhibiting a CAGR of 5.39% in the forecast period 2023 to 2033.

The global Aseptic Packaging Equipment market is expected to garner a valuation of US$ 21 billion by exhibiting a CAGR of 7.9 % in the forecast period 2023 to 2033.

The global vinyl extrusion equipment market is expected to garner a valuation of US$ 14.5 billion by exhibiting a CAGR of 6.7% in the forecast period 2023 to 2033.

The global drug testing equipment market is projected to accumulate a valuation of US$ 16.4 billion by exhibiting a CAGR of 12.1 % in the forecast period 2023 to 2033.

The global tray sealing machines market is set to expand its roots at an average CAGR of 4.5% between 2022 and 2032. The market is forecasted to reach US$ 5.12 Billion by 2032.

The global liquid capsule filling machines market size is anticipated to hit a valuation of US$ 231.7 million by 2033. The market is estimated to showcase a moderate CAGR of 2.9% from 2023 to 2033.

The global corrugated box machines market is expected to grow at a CAGR of 5.0% during the forecast period (2022 to 2032). The corrugated box machines market value is projected to grow US$ 1,624 Million by 2032.

About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Nandini Singh Sawlani 

Future Market Insights Inc.
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Originally published at https://www.einpresswire.com/article/699181856/rising-digital-trends-in-packaging-are-laying-out-the-groundwork-for-the-progress-of-the-marking-and-coding-equipment-market-future-market-insights

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