Coding and Marking Equipment and Consumables Market to Grow USD 2884.8 Million by 2028 at a CAGR of 4.5% | Valuates Reports

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16 Feb, 2023, 11:30 GMT

BANGALORE, India, Feb. 16, 2023 /PRNewswire/ -- The Global Coding and Marking Equipment and Consumables Market is Segmented by Type (Equipment, Consumables), by Application (Food and Beverage, Pharmaceutical and Healthcare, Construction and Chemicals, Electronics): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Manufacturing Category.

The global Coding and Marking Equipment and Consumables market was valued at USD 2215.3 million in 2021 and is anticipated to reach USD 2884.8 million by 2028, witnessing a CAGR of 4.5% during the forecast period 2022-2028. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

Major Factors Driving the Growth of the Coding and Marking Equipment and Consumables Market

Large manufacturing companies have benefited from the coding and marking industry's assistance in identifying, tracking and tracing their products as well as in preventing product counterfeiting. the printing of critical product information, such as the batch number, maximum retail price, manufacturing location, manufacturing date, and QR codes. This factor is expected to drive the Coding and Marking Equipment and Consumables market.

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TRENDS INFLUENCING THE GROWTH OF THE CODING MARKING AND EQUIPMENT CONSUMABLES MARKET:

Pharmaceutical industry leaders place a high priority on preventing counterfeiting and tampering by employing flexible packs, which are favorable factors for the Coding and Marking Equipment and Consumables market expansion. These packs include forming films, top webs, chevron pouches, header bags, and strip bags with specific codes and markings.

Coding and marking techniques are being used more frequently in food packaging to name the products. As the demand for food quality and safety has increased globally, food manufacturers are using high-resolution coding and marking to identify the relevant information on packaged food commodities. For makers of coding and marking systems, regulatory regulations for the food and beverage industry that address information display and labeling offer a great opportunity. The industry grows faster as a result of the adoption and knowledge of such high-quality codes and marks for printing information on food products swiftly and effectively. This factor is expected to fuel the growth of the Coding and Marking Equipment and Consumables market.

Product owners can track their items as they move through the supply chain by putting barcodes and serialization codes on every manufactured item as well as the boxes used to transport these goods. This makes it possible for everyone participating in the supply chain to identify specific batches, shipments, and packages, allowing them to learn the origin and destination of the products. This enables product owners to swiftly recall goods if necessary. This factor is expected to fuel the growth of the Coding and Marking Equipment and Consumables market.

Manufacturers of coding and marking systems now have stronger growth potential because of laser technology. Due to its rapid marking speed and accuracy, laser marking systems are often used to print codes on metal objects. Rising demand for laser coders is expected to boost the Coding marking and equipment consumables market throughout the anticipated time frame.

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CODING MARKING AND EQUIPMENT CONSUMABLES MARKET SHARE:

Over the forecast period, the pharmaceutical segment is anticipated to grow at the greatest CAGR. Coding and identifying their goods and packaging methods are crucial for the industry's incumbents in the pharmaceutical and healthcare sectors. The product and packaging must be directly coded by the manufacturers, and the details of the code must be approved by the relevant regulatory organizations.

Over the course of the projected period, Asia Pacific is anticipated to become the region with the quickest rate of growth.

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Key Companies

Brother (Domino)
Danaher (Videojet)
Dover (Markem-Imaje)
Han's Laser
ITW (Diagraph)
Trumpf
Hitachi Industrial Equipment
ID Technology LLC
KGK
Matthews Marking Systems
KBA-Metronic
Macsa
Squid Ink
SATO
Paul Leibinger
REA JET
Control print
Kinglee
EC-JET
Beijing Zhihengda
SUNINE

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SIMILAR REPORTS:

The global Food and Beverage Coding and Marking Equipment market was valued at USD 1359 million in 2022 and is anticipated to reach USD 2012.5 million by 2029, witnessing a CAGR of 5.7% during the forecast period 2023-2029.
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