Coding And Marking Solutions Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 6.02 Billion |
| Market Size (2029) | USD 7.92 Billion |
| CAGR (2024 - 2029) | 5.64 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Coding And Marking Solutions Market Analysis
The Coding And Marking Solutions Market size is estimated at USD 6.02 billion in 2024, and is expected to reach USD 7.92 billion by 2029, growing at a CAGR of 5.64% during the forecast period (2024-2029).
- Coding and marking are critical components of the production and intralogistics processes for packaged consumer and industrial goods. Product-related information, such as the manufacturing date, batch number, and expiration date, is printed on the packaging using coding and marking techniques. The promising outlook for the retail sector and the demand in important end-use industries such as food and beverage, cosmetics, chemicals, pharmaceuticals, and construction and building materials influence the demand in the market.
- The growing use of coding and marking systems for printing batch numbers, government identification codes, and printing labels on primary and secondary packaging materials in industries such as automotive, healthcare, chemical, construction, semiconductor and electronics, and food and beverage presents significant growth opportunities.
- Coding and marking equipment are used in packaging various items such as capsules, powders, liquids, and ointments in bottles, tubes, cartons, and other packaging types in the healthcare and pharmaceutical industries. Due to stringent regulations and brand protection, the use of coding and marking equipment in the healthcare and pharmaceutical sectors is increasing, providing potential for market expansion.
- Continuous printing can be implemented on various substrates, including cardboard, flexible films, cans, glass, plastic, wood, metal, PET, and polypropylene (PP). The high velocity of the ink droplets, which allows for a substantial distance between the printhead and the substrate, and the high drop ejection frequency, which enables high-speed printing, are significant advantages of this technique. The market is driven by the deployment of continuous inkjet technology in industries, which offers high speed, versatility, and ease of use.
- The pricing of coding and marking devices is determined by technological integration, applications, size, and the type of consumables utilized. As a result, there is a substantial variation in the pricing of coding and marking machines. Therefore, the high price of coding and marking devices restricts their adoption by price-sensitive industrial users from emerging nations. As a result, high prices have been cited as a significant barrier to the market's growth.
Coding And Marking Solutions Market Trends
The Food and Beverage Segment is Expected to Hold the Highest Share in the Market
- Food packaging is increasingly using coding and marking methods to label the products. Food manufacturers are utilizing high-resolution coding and marking to identify the necessary information on packaged food goods as the demand for food quality and safety has risen across the world.
- Regulatory requirements regarding information display and labeling in the food and beverage industry present a valuable potential for coding and marking system manufacturers. The acceptance and awareness of such high-quality codes and marks to quickly and efficiently print food-good information propels the market's growth.
- Manufacturers in the high-speed and high-output beverage business deal with changing customer behavior, which influences operational efficiency. PET bottles are being phased out in favor of containers made of different materials, such as recyclable aluminum. Beverage companies respond by modernizing their packaging processes and coding and labeling systems.
- In 2023, retail food and beverage stores in the United States raked in sales of around USD 83,691 million, as per the US Census Bureau's estimates. To ensure consumers' safety and product information transparency, the food and beverage sector is governed by several rules and labeling requirements.
- The growth in sales is leading to a need for coding and marking solutions that can meet the required standards, driven by manufacturers' compliance with these regulations.
Asia-Pacific is Expected to Register the Fastest Growth Rate
- Innovations in food, particularly in terms of packaging and safety, are crucial in Asia because it has one of the fastest-changing food markets in the world. Every aspect of the food industry in the area, including packaging, is constantly evolving because of the rapidly shifting consumer demands, the challenges posed by climate change, and the region's continually growing population.
- Smart packaging, including QR codes and RFID tags, allows consumers and businesses to track the origin, quality, and freshness of food products. This increases the demand for sophisticated coding and marking solutions for these advanced technologies.
- Europe is one of the significant markets for coding and marking systems due to the existence of some of the world's stringent regulatory agencies for the food and beverage industry and the presence of some of the world's largest pharmaceutical firms. Additionally, Asia-Pacific is expected to register the fastest growth during the forecast period due to the region's rising need for coding and marking systems.
- Asia-Pacific dominates the coding and marking systems market, with China leading the way in terms of R&D spending and adoption of high-technology systems.
- The primary objective of the Chinese State Food and Drug Administration's (SFDA) regulations is to safeguard people from counterfeit pharmaceuticals and traditional Chinese medicines. This regulation also mandates the assignment of unique product identifiers known as 'eCodes' at various packaging units and a level of combination and verification through the drug electronic supervision system.
- 'eCodes' require high-resolution printing to ensure the codes are clear and readable for verification purposes. This pushes the need for high-quality printers and marking solutions that offer superior print resolution and durability.
- South Korea has also mandated labeling and marking requirements for certain products, such as pharmaceuticals, organic food, functional food, and food produced through biotechnology, according to the Korean Customs Service (KCS). The coding and marking solutions market expanded by increasing the consumption of packaged meals in food and beverage.
- In December 2023, China's retail trade in medicine generated USD 9.64 billion, marking a significant increase from USD 7.41 billion recorded in April 2023, as reported by the National Bureau of Statistics of China. With the rise in pharmaceutical sales, there is a corresponding need for enhanced product traceability to ensure the authenticity and safety of medications. Coding and marking solutions provide the necessary technology to track products through the supply chain, preventing counterfeiting and ensuring compliance with regulatory standards.
Coding And Marking Solutions Industry Overview
The coding and marking solutions market is fragmented due to significant players such as Videojet Technologies Inc., Hitachi Ltd, REA Electronik GmbH, Dover Corporation, Keyence Corporation, and Koenig & Bauer Coding GmbH.
- June 2024: LEIBINGER, a prominent global coding and marking technology entity, and its established partner Qualijet are set to make a notable entry at Fispal Tecnologia. They are set to announce the IQJET, marking its debut in Brazil. Positioned in intelligent coding and marking systems, IQJET will take center stage alongside LEIBINGER's array of proven solutions at Brazil's premier food and beverage industry event.
- January 2024: MarkemImaje introduced a marking trigger that will increase the flexibility of its Direct Coder equipment on a broad range of surfaces and sizes, e.g., objects as large as an airplane's wings. While some applications can be printed directly on a conveyor, specific products or objects are more complex to code due to their size, shape, and nature, especially in sectors such as aeronautics and automobiles.
- May 2023: MarkemImaje, part of Dover and a global provider of end-to-end inkjet supply chain solutions and industrial and marking coding systems, announced the launch of the 9750 E continuous printing range, bringing to the market industry's first innovations in the extrusion sector.
Coding And Marking Solutions Market Leaders
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Hitachi Ltd.
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Leibinger Group
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Domino Printing Sciences plc
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Dover Corporation
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Videojet Technologies Inc.
*Disclaimer: Major Players sorted in no particular order
Coding And Marking Solutions Market News
- March 2024: Control Print, the leading provider of integrated coding and marking solutions in India, revealed its acquisition of a majority stake in Codeology Group, a UK-based firm specializing in Print and Apply Systems. Under the agreement, Control Print holds 50.49% of company ownership.
- December 2023: Codpad, a Chinese coding and labeling machine manufacturer incorporating the Xaar Irix printhead, developed an efficient UV inkjet printing machine with precise resolutions. Using the Xaar Irix 40 and 80 picolitre variants, the new machine is designed for various coding applications, including printing on metal, plastic, carton, wood, aluminum foil, and film. It supports different sub-drop volumes for flexibility.
- June 2023: Videojet Technologies, a worldwide player in coding, marking, and printing solutions, has increased its outstanding range of CO2 lasers with the introduction of Videojet 3350's 30W Smart Focus CO2 Laser Marking System to meet manufacturers' demands for superior performance laser marking systems. Laser devices can mark highly complex codes at very fast speeds for the food, beverage, cosmetics, pharmaceuticals, packaging, and extruding industries.
Coding And Marking Solutions Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Expansion of the Production and Packaging Industry and Increasing Adoption of Creative Packaging Techniques
5.1.2 Increasing Demand for Product Traceability Solutions Across the Supply Chain of Various Industries
5.2 Market Restraints
5.2.1 High Upfront and Operational Costs for Deploying Coding and Making Equipment
5.3 Application Insights (Indicative share (%) of Utility of Coding and Marking in Various Applications, Trends, etc.)
5.3.1 Component Identification
5.3.2 Brand Recognition and Identification
5.3.3 Traceability and Counterfeiting
6. MARKET SEGMENTATION
6.1 By Solution
6.1.1 Equipment
6.1.2 Fluids and Ribbons
6.1.3 Spares
6.2 By Equipment
6.2.1 Thermal Inkjet (TIJ) Printer
6.2.2 Continuous Inkjet (CIJ) Printer
6.2.3 Laser Printer
6.2.4 Other Equipment
6.3 By End-user Industry
6.3.1 Pharmaceutical
6.3.2 Construction
6.3.3 Food and Beverage
6.3.4 Cosmetics
6.3.5 Other End-user Industry
6.4 Geography*
6.4.1 North America
6.4.2 Europe
6.4.3 Asia-Pacific
6.4.4 Latin America
6.4.5 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Videojet Technologies Inc.
7.1.2 Hitachi Ltd
7.1.3 REA Elektronik GmbH
7.1.4 Dover Corporation
7.1.5 Domino Printing Sciences PLC
7.1.6 Control Print Ltd
7.1.7 Keyence Corporation
7.1.8 Matthews International Corporation
7.1.9 Leibinger Group
7.1.10 Koenig & Bauer Coding GmbH
- *List Not Exhaustive
8. INVESTMENTS ANALYSIS
9. FUTURE TRENDS
Coding And Marking Solutions Industry Overview
Coding and marking are critical components of the production and intralogistics processes for packaged consumer and industrial goods. Product-related information, such as the manufacturing date, batch number, and expiration date, is printed on the packaging using coding and marking techniques. The study is structured to capture revenues accrued by companies through selling various coding and marking solutions, including equipment, fluids, ribbons, and spare parts sold by OEMs (excluding aftermarket vendors).
The coding and marking solutions market is segmented by solution (equipment, fluids, and ribbons), equipment (thermal inkjet printer, continuous inkjet printer, and laser printers), end-user industry (pharmaceutical, construction, food and beverage, and cosmetics), and geography (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Solution | |
| Equipment | |
| Fluids and Ribbons | |
| Spares |
| By Equipment | |
| Thermal Inkjet (TIJ) Printer | |
| Continuous Inkjet (CIJ) Printer | |
| Laser Printer | |
| Other Equipment |
| By End-user Industry | |
| Pharmaceutical | |
| Construction | |
| Food and Beverage | |
| Cosmetics | |
| Other End-user Industry |
| Geography* | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Latin America | |
| Middle East and Africa |
Coding And Marking Solutions Market Research Faqs
How big is the Coding And Marking Solutions Market?
The Coding And Marking Solutions Market size is expected to reach USD 6.02 billion in 2024 and grow at a CAGR of 5.64% to reach USD 7.92 billion by 2029.
What is the current Coding And Marking Solutions Market size?
In 2024, the Coding And Marking Solutions Market size is expected to reach USD 6.02 billion.
Who are the key players in Coding And Marking Solutions Market?
Hitachi Ltd., Leibinger Group, Domino Printing Sciences plc, Dover Corporation and Videojet Technologies Inc. are the major companies operating in the Coding And Marking Solutions Market.
Which is the fastest growing region in Coding And Marking Solutions Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Coding And Marking Solutions Market?
In 2024, the Europe accounts for the largest market share in Coding And Marking Solutions Market.
What years does this Coding And Marking Solutions Market cover, and what was the market size in 2023?
In 2023, the Coding And Marking Solutions Market size was estimated at USD 5.68 billion. The report covers the Coding And Marking Solutions Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Coding And Marking Solutions Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Coding And Marking Solutions Industry Report
Statistics for the 2024 Coding and Marking market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Coding and Marking analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
