The market for coding and marking systems and solutions is being driven by a number of factors, including the rise in the demand for better product traceability and quality control across a number of industries, the requirement to adhere to stringent government regulations regarding product labelling, and the expanding use of cutting-edge technologies like inkjet, laser, and thermal transfer printers. Another factor fueling the expansion of the market for coding and marking systems and solutions is the rise in online retailing and e-commerce.
These systems and solutions are essential in part because of the rise in fraud and the demand for greater product traceability. One of the key factors propelling the growth of the market for coding and marking systems and solutions is the requirement for compliance with various government rules regarding product labelling.
The market for coding and marking systems and solutions has a number of benefits, such as the capacity to print on a variety of materials, the adaptability to print varied data, and the quick printing speed. When compared to alternative ways of product marking, these systems and solutions also provide improved legibility and durability. Additionally, these technologies aid in cutting down on the price of product recalls. Additionally, implementing these systems and solutions enables businesses to enhance both customer happiness and brand perception.
Printing product information like the name of the producer, the date of manufacturing, the expiration date, the batch number, and other crucial details is the main application of coding and marking systems and solutions. Both product traceability and compliance with various government requirements related to product labelling are improved by these systems and solutions. These systems and solutions also have a number of benefits, including the capacity to print changeable data, the adaptability to print on a variety of materials, and the fast-printing speed.
From 2021 to 2031, the market for coding and marking systems and solutions is projected to expand at a CAGR of 5.8%. The market is anticipated to increase in value to $4.37 billion by 2031.
One of the major issues that market participants face is the high cost of these systems and solutions. Another problem faced by market participants is the lack of competent employees to run this machinery. With the help of technological advancements and the introduction of new products to the market, these challenges are predicted to be overcome throughout the forecast period.
Among the leading companies in the market for coding and marking systems and solutions are Markem-Imaje (France), Zebra Technologies Corporation (US), Domino Printing Sciences plc (UK), Hitachi Ltd. (Japan), Videojet Technologies Inc. (US), Matthews International Corporation (US), Dover Corporation (US), Weber Marking Systems GmbH (Germany), Cab Elettronica S.p.A (Italy), TSC Auto ID Technology Co., Ltd. (Taiwan), and UBS AGFA-Gevaert NV (Belgium).
The most lucrative market will likely be for thermal transfer overprinting printers
Type-based categories, such as inkjet printers, laser printers, thermal transfer overprinting printers, and others, are used to categorise the market for coding and marking systems and solutions. The category of Thermal Transfer Overprinting Printers among them is anticipated to experience the greatest CAGR growth over the forecast period. The rise in demand for these printers across a variety of industries, including electronics, food and beverage, pharmaceutical and healthcare, construction and chemicals, and others, can be credited with this segment's expansion. The market share leader and predicted to increase at a CAGR of 5.5% over the projection period is inkjet printers. Inkjet printers are widely utilised in a variety of industries, including electronics, food and beverage, pharmaceuticals and healthcare, building materials and chemicals, and more. This is because they can print on a variety of materials, including non-porous surfaces, and they have the flexibility to print variable data.
The Most Popular Application Segment is Food and Beverage
Based on applications, the market for coding and marking systems and solutions is segmented into the food and beverage industry, the pharmaceutical and healthcare industry, the construction and chemical industry, electronics, and others. Of all of them, the Food and Beverage application sector is estimated to develop at the highest CAGR throughout the forecast period. This segment's growth is a result of the escalating demand for enhanced product traceability and quality control in the food and beverage industry.
The Asia Pacific region (APAC) will provide Appropriate Financing Options
The Asia-Pacific region is anticipated to see the highest CAGR during the projection period.
This region has grown quickly as a result of the expansion of manufacturing in countries like China and India, the predominance of many small and medium-sized enterprises (SMEs), and the rise in foreign investments. During the projection period, North America is expected to be the second-largest market for coding and marking systems and solutions. The presence of reputable companies in the region, the rise in packaged food demand, and the stringent rules controlling food safety are a few factors that are projected to drive the expansion of this market in North America.
COVID-19 Impact and Market Status
The market for systems and solutions for coding and marking has been significantly impacted by the COVID-19 pandemic. As businesses explore ways to secure the traceability of their products, demand for these systems and solutions has greatly expanded. One of the key end-users of these systems and solutions is the food and beverage sector, which has been significantly impacted by the pandemic. Demand for packaged food has decreased as a result of restaurants and cafes closing. This has hampered the growth of the market for coding and marking systems and solutions. However, a market recovery is anticipated in 2021 as a result of a resurgence in the food and beverage sector.
Latest Innovations in the Global Coding and Marking Systems and Solutions Market: A Snapshot
• For printing changeable data on flexible film substrates, Matthews debuted innovative thermal transfer overprinting (TTO) technology in January 2019.
• The UHG Series of UV-LED printheads, which offer high-quality, high-speed printing for a variety of applications including product identification and decorating, packaging, and labelling, was introduced by Hitachi America, Ltd. in February 2019.
• The 1610 Mid-Range Continuous Inkjet Printer was released by Videojet Technologies Inc. in June 2019 to address the demands of high-speed production lines in the food and beverage and pharmaceutical industries that require dependable coding at up to 1200 feet per minute.
Coding and Marking Systems and Solutions Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||USD 4.37 billion|
|Growth Rate||CAGR of 5.8% during 2021-2031|
|Segment Covered||by Type, by Deployment, By Application, by Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Markem-Imaje (France), Zebra Technologies Corporation (US), Domino Printing Sciences plc (UK), Hitachi Ltd. (Japan), Videojet Technologies Inc. (US), Matthews International Corporation (US), Dover Corporation (US), Weber Marking Systems GmbH (Germany), Cab Elettronica S.p.A (Italy), TSC Auto ID Technology Co., Ltd. (Taiwan), and UBS AGFA-Gevaert NV (Belgium)|
Key Segment of Global Coding and Marking Systems and Solutions Market
By Type Overview 2021-2031, ($ Billion)
• Inkjet Printers
• Laser Printers
• Thermal Transfer Overprinting Printers
By Application Overview 2021-2031, ($ Billion)
• Food and Beverage
• Pharmaceutical and Healthcare
• Construction and Chemicals
By Region Overview 2021-2031, ($ Billion)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa