Market for Coding Equipment to Hit US$ 1,455.1 Million by 2034, Fueled by Steady 2.3% CAGR from 2024, Forecasts Market Analysis

The marking and coding equipment market is expected to be worth US$ 1,147.9 million in 2024. The market is anticipated to grow steadily between 2024 and 2034, with a compound annual growth rate of 2.3%. The market for marking and coding equipment is projected to reach a value of US$ 1,455.1 million by 2034.

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Market Analysis of Marking and Coding Equipment

• The need for marking and coding equipment is rising in emerging nations where the expansion of packaging is seen as essential to economic progress.
• The packaging industry is adopting digital trends, and marking and coding technology is being chosen over manual systems.
• The market is seeing an increase in demand for marking and coding equipment with improved functional features, such as the ability to recycle leftover ink.
• Effective labeling systems are becoming more and more necessary due to concerns about correct labeling, and marking and coding equipment is being used to meet this demand.
• The food and beverage industry’s sustained expansion is encouraging for the marking and coding equipment market.

Industry Trends for Marking and Coding Equipment

• The pharmaceutical industry is becoming increasingly important, which is good for the market for marking and coding equipment.
• The market is being positively labeled by the rising popularity and growing use of laser printers.
• Equipment for marking and labeling shipments is becoming more and more crucial as the need to identify them grows and delivery services offer better tracking capabilities.
• Positive trends are being observed in the marking and coding equipment market due to consumers’ continued reliance on electronic items.
• End users’ need for marking and coding equipment is growing as efforts to stop counterfeit goods intensify.
• The growth of the marking and coding industry is being hampered by end users’ unwillingness to invest large sums of money in these machines, especially on a small scale.

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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 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.

Market by Category

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

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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

Author:   

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.

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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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