Global Coding and Marking Industry Analysis 2023 | Set to Cross $9.8 Billion by 2028 | In-depth Profiles of Key and Emerging Players - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Coding and Marking Market 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global coding and marking market is expected to grow at a CAGR of 8.74% from 2022-2028.

One of the key drivers for the global coding and marking market is an increase in the flexible packaging of products. Flexible packaging is fast gaining popularity and has witnessed significant growth over the last few years. Several factors, including increased ready-to-eat items, the advent of flexible substrates and films, growth in the e-commerce industry, and a rise in retail stores, drive flexible packaging market growth. Flexible packaging is not an exception when it comes to coding and marking solutions that affect different types of packaging to meet the delivery requirements and cater to the fast delivery demand of consumers.

The coding and marking solutions market is becoming more competitive, with several low-cost offerings being launched regularly. At the same time, vendors must stay up-to-date with the latest end-user industry changes and devise their offerings. Thus, coming up with new and advanced offerings based on the modern-day needs of customers remains crucial in this aspect. Several vendors catering to the industry have consistently focused on introducing new forms of ink or similar solutions for customers.

Vendors, such as Domino Printing Sciences, Paul Leibinger Inkjet Systems, and Weber Marking Systems, have successfully guided this headwind to their advantage. Domino Printing Sciences, the leader in the coding and marking ink market, has launched a disappearing ink for track and trace solutions. The UV-activated ink for its TIJ range has been developed to enhance the security aspect of the internal trace and track process for products.

Opportunities & Trends

• Leveraging Exhibitions, Expos & Trade Platforms
• Growing Demand for Laser Coding
• Advent of Industry 4.0
• Evolving Secondary Packaging Market
• Innovative Consumable Offerings
• Growing Adoption of Automation & Robotics

Growth Enablers

• Rising Demand for Traceability by End-Users
• Significant Rise in Flexible Packaging
• Increasing Demand for Processed & Packaged Food
• Rising Applications Across End-User Industries
• Increasing Regulatory Compliance
• Rising Demand from Healthcare Industry

Insights by Technology

The global coding and marking market comprise various technology coding printers, such as CIJ, Laser, VIJ, PIJ, TTO, TIJ, and PALM. In 2022, the CIJ segment accounted for around 39% of the global industry, followed by the laser segment. Continuous Inkjet Technology is one of the most widely used technologies in the industry. It is a non-contact printing technology that uses a continuous stream of ink droplets to create characters and codes on various substrates, including plastics, metals, and paper. The technology uses a high-pressure pump that targets the ink through a nozzle onto the surface of the product material as the ink is stored in a reservoir. One of the advantages of CIJ technology is its ability to print on various substrates, including curved and irregular surfaces. The laser and TIJ coding and marking technology segments are expected to gain market share during the forecast period. The laser system is free of consumables, such as ink; hence, it has low maintenance.

Insights by End-user

The F&B industry was the largest end-user segment in the global coding and marking market in 2022, accounting for around half the market share. The growth in F&B and healthcare segments is attributed to the improving demographics across the globe, increasing investment, strict regulations by the government, and a shift towards urbanization. In addition, several other factors, such as changing consumer preferences regarding product consumption, increasing demand for sustainable packaging, rising demand for attractive packages, and many more, fuel the growth of end-user industries, eventually boosting the global coding and marking systems market.

Competitive Landscape

The coding and marking market is highly fragmented and competitive, with many players offering various products and solutions. Companies compete on product quality, innovation, customer service, and price to gain industry share and differentiate themselves from competitors. A few large players dominate the global coding and marking equipment market, including Danaher Corporation, Dover Corporation, Domino Printing Sciences, Hitachi Industrial Equipment Systems, and ID Technology. These companies have established themselves as leaders in the industry, with strong brand recognition, a wide range of products, and extensive distribution networks.

Key Company Profiles

• Danaher
• Dover
• Brother Industries
• Hitachi Industrial Equipment & Solutions
• ITW Diagraph

Other Prominent Vendors

• ANSER Coding
• ATD UK
• Beijing Hi-Pack Coding
• Control Print
• EBS Inkjet Systems
• Guangzhou EC-Pack Packaging Equipment
• Iconotech
• ID Technology
• InkJet
• KGK Jet
• KEYENCE
• Koenig & Bauer Coding
• Kortho Coding & Marking
• Laserax
• Leibinger Group
• Macsa ID
• Matthews International
• REA Elektronik
• SATO Holdings
• Squid Ink
• Weber Marking Systems
• Xaar
• Zanasi

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