Coding and Marking Equipment Market is Expected to Register a Considerable Growth by 2028
Introduction
Coding and marking equipment is used to apply variable information, such as dates, batch numbers, logos, and barcodes, to products and packaging. This information is essential for product traceability, inventory management, and consumer protection.
According to Stratview Research, the global coding and marking equipment market is expected to grow from USD 15.07 billion in 2021 to USD 22.07 billion by 2028, at a CAGR of 5.55%. The market growth is driven by increasing demand for food safety and traceability, rising disposable incomes, and growing e-commerce sales.
Market Trends
The following are some of the key trends shaping the coding and marking equipment market:
- Rising demand for food safety and traceability: Consumers are increasingly demanding safe and traceable food products. Coding and marking equipment is essential for tracking food products through the supply chain and ensuring their safety.
- Rising disposable incomes: Rising disposable incomes in developing countries are leading to increased demand for packaged food and beverages. This is driving the demand for coding and marking equipment in these regions.
- Growing e-commerce sales: The growth of e-commerce is leading to increased demand for efficient and accurate coding and marking of products.
Market Segmentation
The coding and marking equipment market is segmented by technology, application, and region.
By technology:
- CIJ Printing and Coding,
- Laser Coding and Marking,
- TIJ Printing,
- DOD Printing,
- Others
By application:
- Food and beverage
- Pharmaceutical and healthcare
- Consumer packaged goods (CPG)
- Electronics
- Other applications, such as automotive and aerospace
By region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Growth Opportunities
The following are some of the key growth opportunities in the coding and marking equipment market:
- Expansion of the food and beverage industry: The global food and beverage industry is expected to grow significantly in the coming years. This will drive the demand for coding and marking equipment in this sector.
- Growing demand for personalized products: Consumers are increasingly demanding personalized products. Coding and marking equipment can be used to personalize products with names, dates, and other unique information.
- Technological advancements: Technological advancements in coding and marking equipment are leading to the development of more efficient, accurate, and versatile solutions. This is creating new opportunities for market growth.
Competitive Landscape
The coding and marking equipment market is highly competitive, with a number of global and regional players. The key players in the market include:
- Domino Printing Sciences
- Videojet Technologies
- Markem-Imaje
- ITW EAE
- Hitachi Industrial Equipment Systems
- Linx Printing Technologies
- Matthews International
- ID Technology LLC
- REA Elektronik
- Leibinger GmbH
- Citronix Corporation
These players offer a wide range of coding and marking equipment solutions for different applications. They are also investing heavily in research and development to develop new and innovative products.
Conclusion
The coding and marking equipment market is expected to grow significantly in the coming years. The growth is driven by increasing demand for food safety and traceability, rising disposable incomes, and growing e-commerce sales. The key growth opportunities in the market include the expansion of the food and beverage industry, growing demand for personalized products, and technological advancements. The market is highly competitive, with a number of global and regional players.
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