Global Coding and Marking Market Outlook & Forecasts 2023

DUBLIN, Aug. 2, 2023 /PRNewswire/ -- The "Coding and Marking Market - Global Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global coding and marking market is expected to reach a value of $9.88 billion by 2028 from $5.98 billion in 2022, growing at a CAGR of 8.74%PACKAGING INDUSTRY POST COVID-19 SCENARIOThe post-pandemic packaging industry has witnessed a huge demand for packaging designs. Consumers shifted towards sustainability packaging with strong narratives. This is revamping the packaging sector. Earlier, people were price-conscious, but the focus shifted toward hygiene and safety. Government bodies may strengthen the requirements related to food packaging & processing to ensure safe food provided to consumers. Consumers are now willing to pay more for all-around packaging, which provides safety and hygiene.Due to such factors post-Covid-19, consumers are increasingly interested in the information and data available on the products' packaging, quality, origin of the raw material, health claims, and about disposing of the packaging. A huge increase in e-commerce demand creates vast packaging industry opportunities.

Buying groceries online is also a trend that is significantly booming the packaging sector, and after some time, buying everything online will be a preferred mode for consumers. Hence, this will boost the demand for packaging, increase the development of anti-counterfeit solutions in packaging, and contribute to the coding and marking market growth.MARKET TRENDS & OPPORTUNITIES

Significant Rise In Flexible PackagingOne of the key drivers for the global coding and marking market is an increase in the flexible packaging of products. Flexible packaging is fast gaining popularity and has witnessed significant growth over the last few years.

Several factors, including increased ready-to-eat items, the advent of flexible substrates and films, growth in the e-commerce industry, and a rise in retail stores, drive flexible packaging market growth. Flexible packaging is not an exception when it comes to coding and marking solutions that affect different types of packaging to meet the delivery requirements and cater to the fast delivery demand of consumers.Innovative Consumable OfferingsThe coding and marking solutions market is becoming more competitive, with several low-cost offerings being launched regularly. At the same time, vendors must stay up-to-date with the latest end-user industry changes and devise their offerings.

Thus, coming up with new and advanced offerings based on the modern-day needs of customers remains crucial in this aspect. Several vendors catering to the industry have consistently focused on introducing new forms of ink or similar solutions for customers.

Vendors, such as Domino Printing Sciences, Paul Leibinger Inkjet Systems, and Weber Marking Systems, have successfully guided this headwind to their advantage. Domino Printing Sciences, the leader in the coding and marking ink market, has launched a disappearing ink for track and trace solutions. The UV-activated ink for its TIJ range has been developed to enhance the security aspect of the internal trace and track process for products.INDUSTRY RESTRAINTS

Increasing Counterfeiting of ProductsA major hurdle in the global coding and marking market is the counterfeit of products. This is indeed a significant problem that has been affecting the coding & marking market. The industry is responsible for creating & printing unique codes and marking son products to enable their traceability & identification throughout the supply chain.

However, counterfeiting activities make it difficult for vendors to ensure that their products are properly identified and tracked. Counterfeit products often need the proper codes and markings, making them difficult to trace and creating potential safety and quality risks for consumers.

Counterfeiting can also harm legitimate businesses by decreasing consumer confidence in their products, leading to lost sales & revenue. In the coding and marking systems market, this can translate to decreased demand for coding & marking technologies. Companies may not see the value in investing in these solutions if they believe their products will still be counterfeited.

COMPETITIVE LANDSCAPEThe coding and marking market is highly fragmented and competitive, with many players offering various products and solutions. Companies compete on product quality, innovation, customer service, and price to gain industry share and differentiate themselves from competitors.

A few large players dominate the global coding and marking equipment market, including Danaher Corporation, Dover Corporation, Domino Printing Sciences, Hitachi Industrial Equipment Systems, and ID Technology. These companies have established themselves as leaders in the industry, with strong brand recognition, a wide range of products, and extensive distribution networks.

Key Company Profiles

Danaher

Dover

Brother Industries

Hitachi Industrial Equipment & Solutions

ITW Diagraph

Other Prominent Vendors

ANSER Coding

ATD UK

Beijing Hi-Pack Coding

Control Print

EBS Inkjet Systems

Guangzhou EC-Pack Packaging Equipment

Iconotech

ID Technology

InkJet

KGK Jet

KEYENCE

Koenig & Bauer Coding

Kortho Coding & Marking

Laserax

Leibinger Group

Macsa ID

Matthews International

REA Elektronik

SATO Holdings

Squid Ink

Weber Marking Systems

Xaar

Zanasi

Market Opportunities & Trends

Leveraging Exhibitions, Expos & Trade Platforms

Growing Demand for Laser Coding

Advent of Industry 4.O

Evolving Secondary Packaging Market

Innovative Consumable Offerings

Growing Adoption of Automation & Robotics

Market Growth Enablers

Rising Demand for Traceability by End-Users

Significant Rise in Flexible Packaging

Increasing Demand for Processed & Packaged Food

Rising Applications Across End-User Industries

Increasing Regulatory Compliance

Rising Demand from Healthcare Industry

Market Restraints

Increasing Counterfeiting of Products

Operational Errors & High Cost

Limited Availability of Skilled Labor & High Labor Cost

Trade Conflicts Between US & China

Premium Insights

Market Definition

Report Overview

Packaging Industry Post Covid-19 Scenario

Opportunities & Challenge Analysis

Segment Analysis

Geographical Analysis

Competitive Landscape

Frequently Asked Questions

For more information about this report visit https://www.researchandmarkets.com/r/aawj9w

About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:Research and MarketsLaura Wood, Senior [email protected] For E.S.T Office Hours Call +1-917-300-0470For U.S./CAN Toll Free Call +1-800-526-8630For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/global-coding-and-marking-market-outlook--forecasts-2023-2028-featuring-prominent-vendors---danaher-dover-brother-industries-hitachi-industrial-equipment--solutions--itw-diagraph-301891477.html

SOURCE Research and Markets