PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1718873
PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1718873
The global coding and marking market is expected to grow at a CAGR of 6.16% from 2024 to 2030.
Global Coding And Marking Market Latest News and Product Development
CODING AND MARKING MARKET TRENDS
CODING AND MARKING MARKET DRIVERS
INDUSTRY RESTRAINTS
CODING AND MARKING MARKET SEGMENTATION INSIGHTS
INSIGHTS BY TECHNOLOGY
Continuous inkjet technology is one of the most widely used technologies in the coding and marking market, which accounted for a market share of around 40% in 2024. CIJ technology is popular due to its low cost of ownership along with speed and versatility. The ink used in CIJ technology is generally cheaper than other types of ink used in coding and marking, and the machines require minimal maintenance. As the CIJ printer industry is growing, manufacturers tend to focus on eco-friendly solutions, such as energy-efficient processes and biodegradable inks, to lower environmental impact.
The laser marking market is growing rapidly, propelled by growing demand across various industries for high-precision, durable marking solutions. Industries such as automotive, healthcare, electronics, and aerospace are driving this growth owing to the need for traceable, permanent markings that ensure regulatory compliance and improve product identification.
The electronics and semiconductor industries also play a substantial role in market growth, as manufacturers depend on laser marking for tracking and labeling capacitors, microchips, and circuit boards with high-resolution carvings like 2D barcodes. Furthermore, the laser segment is expected to grow a higher CAGR of around 7.5% during the forecast period in the global coding and marking market. Some of the key developments driving the market comprise the use of UV and green lasers for higher-resolution markings on several materials, and femtosecond lasers that mark surfaces without causing thermal damage, making them appropriate for delicate applications.
Segmentation by Technology
INSIGHTS BY END-USER
The global coding and marking market by end-user is segmented into food & beverage, healthcare, electrical equipment & electronics, chemicals & construction, automotive & aerospace, and others. In 2024, the food & beverage industry was the largest end-user segment in the global coding and marking market. The growth in the food & beverage and healthcare segments is attributed to the improving demographics globally, increasing investment, strict regulations by the government, and a shift toward urbanization. Also, the food & beverage industry is subject to stringent regulations that mandate crucial information to be printed on packaging before the products enter the market. Moreover, hygiene and cleanliness are serious concerns in food production settings. Sustainability has also become a key emphasis in food packaging, with companies increasingly embracing eco-friendly and recyclable materials. This trend has propelled the demand for organic and natural dyes used in packaging materials, aligning with the industry's efforts toward environmental responsibility.
The healthcare industry has remained a key user of coding and marking solutions due to their high applicability across devices and drugs. The growing investments in healthcare by various governments, the aging population, the rise of communicable and non-communicable diseases, and the availability of diverse medical tracking software/systems, among others, drive the market for coding and marking solutions during the forecast period. Moreover, the healthcare industry operates under stringent regulations necessitating accurate identification and coding of medical products and packaging. Manufacturers should ensure direct coding on several items such as bottles, glass vials, jars, blister packs, syringes, and medical slides, and on outer packaging.
The rapid growth of the electronics industry propelled the demand for micro-electronic components. With this developing miniaturization trend, manufacturers need to implement precise and long-lasting micro-sized codes to enable serialization, support product authentication efforts, and protect against counterfeiting.
Segmentation by End-User
INSIGHTS BY PRODUCT MIX
The global coding and marking market by product mix is segmented into equipment, consumables, and spare parts & aftermarket. In 2024, the equipment segment dominated the product mix segment in the market. The demand for equipment in the coding & marking market is driven by the need for product identification and traceability, increasing authentication & efficiency in manufacturing processes, industry-specific requirements, environmental and sustainability concerns, and emerging markets.
The demand for consumables in the coding and marking market is driven by the need for high-quality, durable, and efficient printing solutions. Printheads, ribbons, and inks each play a critical role in achieving optimal printing results, with their specific characteristics tailored to different printing technologies and applications.
Segmentation by Product Mix
CODING AND MARKING MARKET GEOGRAPHICAL ANALYSIS
In 2024, APAC dominated the global coding and marking market, accounting for over 31% share by revenue in the global market. APAC is expected to witness significant growth in the coding and marking market due to the increasing demand for packaged food & beverages, cosmetics, and pharmaceuticals. China is the largest market in the region. The industry is experiencing significant growth, stricter regulatory frameworks, led by rapid industrialization, and a rising need for product traceability.
In North America, the growth of the e-commerce industry has been impressive in the U.S. recently which increased the demand for high-speed continuous inkjet (CIJ) and laser marking systems. North America is a global leader in the pharmaceutical industry, having the highest number of pharmaceutical partnerships. The pharmaceutical industry is vital in increasing the demand for coding and marking systems. Further, in Europe, Germany is the largest market due to its robust manufacturing hub. The food & beverage, automotive, and pharmaceutical drive the demand in the region. The European Union (EU) has created strict regulations governing product marking, packaging, and labeling across its member states. Moreover, Latin America and the Middle East & Africa are also expected to witness substantial growth in the coding and marking market due to the increasing demand for product traceability and safety, particularly in the F&B industry.
Segmentation by Geography
CODING AND MARKING MARKET VENDORS
The global coding and marking market is highly fragmented with several local and international players. Videojet, Markem-image, Domino Printing Sciences, Hitachi Industrial Equipment Systems, and Keyence are a few prominent players alongside numerous domestic manufacturers specialized in manufacturing coding and marking systems based on local demands and regulations. The competitive scenario in the global coding and marking market is currently intensified. The market competition is also influenced by technological advances, changing customer needs, and industry regulations.
The competitive environment in this market is expected to intensify further with an increase in product/service extensions, technological innovations, and M&As. International players will grow inorganically by acquiring regional or local players. Also, the market is prone to threats of low-quality products, which increases the level of expansion in the market. The major vendors also continually compete for a leading position in the market, with the occasional rise of competition coming from other local vendors. Furthermore, the coding and marking services adoption rate among end-users worldwide has been impressive. As a result of increased demand, the global coding and marking market has witnessed the entry of many vendors that provide coding and marking tools at lower prices.
Key Market Companies
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