The global marking and coding equipment market is estimated to value US$ 1.3 billion in 2022 and is projected to reach US$ 1.8 billion at a 5.6% CAGR by 2027.
An analysis of the in-mold label market by Future Market Insights (FMI) projects that worldwide in-mold label consumption will increase 3.2% YoY to reach US$ 1.1 billion in 2021.
The need for in-mold labels will keep rising through 2031, resulting in fierce competition. The poll predicts that by 2021, the top 5 in-mold label suppliers would hold 15% of the global market. In 2020, the $ 42 billion global label market was made up of 3% by the in-mold labels market worldwide.
The research provides information on every industry vertical, including development potential, geographical presence, and competitive market scenarios. The market competition landscape for marking and coding equipment, based on revenue and growth rate, is covered in the following section. It also provides explanations of price analysis, applications, and market kinds.
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Revenue growth in the industry is predicted to climb by 1.7 times between 2017 and 2022. The global market for marking and coding equipment is anticipated to be worth approximately US$ 1 billion by the end of 2017 and more than US$ 1.8 billion by the end of 2027.
It is projected that the global market would grow at a compound annual growth rate (CAGR) of 5.6% from 2022 to 2027. The study on the global market for marking and coding equipment reveals the impact of several trends, obstacles, and drivers on the market’s expansion in key regions, including Latin America, Asia Pacific (excluding Japan), Japan, North America, Western Europe, Eastern Europe, and Asia Pacific (MEA).
Global Marking and Coding Equipment Market: Competition Assessment
This fact based research study on the global marking and coding equipment market includes a detailed analysis of various companies participating in the global market such as Hitachi America, Ltd., Videojet Technologies, Inc., Markem-Imaje Corporation, Domino Printing Sciences plc., Interactive Coding Equipment (ICE), TYKMA Electrox, Inc., Squid Ink Manufacturing Inc., ATD Ltd., Open Date Systems, Inc., MACSA ID S.A, RN Mark Inc., Diagraph Corporation, Linx Printing Technologies, Numeric Marking Systems, Control Print Ltd., Durable Technologies, REA Elektronik GmbH, Matthews International Corporation, INKJET, Inc., and KGK Marking Technologies Group.
To depict a realistic market scenario, a thorough market segmentation covering all aspects of the market has been conducted. The research includes market estimates for the next ten years, from 2022 to 2027, as well as historical data and the current state of the market.
Global Marking and Coding Equipment Market: Analysis of Various Segments
The global marking and coding equipment market has been segmented by technology type, by application type, by end use and by region.
- By technology type, the continuous inkjet printer segment is the largest with respect to market value and dominates the global market. On the other hand, laser coding systems have gained high traction and this is the second largest segment, projected to grow at the highest rate to register a CAGR of 6.5% during the forecast period.
- By region, Asia Pacific excluding Japan (APEJ) is the most attractive and the marking and coding equipment market in this region is estimated to reach a high value of around US$ 710 Mn by 2027 end.
- By application, the rigid packaging segment is likely to dominate the global market with a higher market share in terms of both value and volume in the years to follow. The flexible packaging application segment is projected to grow at 5.8% CAGR during the 2022 – 2027 timeline
- By end use, the food segment is expected to exhibit high potential for growth in the global marking and coding equipment market. This segment is anticipated to lead the global market in terms of value and is estimated to reach a high valuation of about US$ 784 Mn by the end of the forecast period.
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Global Marking and Coding Equipment Market: Factors Influencing Growth
Factors such as a positive retail sector outlook, seamless integration with active packaging solutions, rising demand from the chemical packaging industry, new product launches, advancements in laser marking technology, high growth in the food industry and increasing use of marking and coding equipment in the building and construction material industry across the globe are expected to fuel revenue growth of the global marking and coding equipment market.
Few aspects such as the political crisis, intense competition, high cost of consumables and uneven size package coding leading to increased cost are anticipated to pose hindrances to the growth of the global marking and coding equipment market.
Global Marking and Coding Equipment Market: Vital Forecast Highlights
The global marking and coding equipment market is expected to grow at a CAGR of 5.5% throughout the period of forecast and is estimated to reach a value of US$ 1770 Mn by the end of the assessment year.
Marking and Coding Equipment Market by CategoryBy 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
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