Coding And Marking Equipment Market Size Worth $22.1 Billion By 2028: Grand View Research, Inc.

Coding And Marking Equipment Market Size Worth $22.1 Billion By 2028: Grand View Research, Inc.

PR Newswire

SAN FRANCISCO, Jan. 13, 2022

SAN FRANCISCO, Jan. 13, 2022 /PRNewswire/ -- The global coding and marking equipment market size is expected to reach USD 22.1 billion by 2028, registering a CAGR of 5.5% from 2021 to 2028, according to a new report by Grand View Research, Inc. The growth of the market can be attributed to the growing health consciousness among consumers. The growing preference among consumers for packaged and labeled food and beverages is particularly encouraging food and beverage manufacturers to deploy coding and marking equipment, thereby driving the growth of the market.

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Key Insights & Findings from the report:

Read 100 page market research report, "Coding And Marking Equipment Market Size, Share & Trends Analysis Report By Product Type (Continuous Inkjet Printer, Thermal Inkjet Printer, Laser Printer), By End-use Industry, By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research

The adoption of multifunctional inkjet printers for coding and marking purposes is expected to gain significant traction over the forecast period. Multifunctional inkjet printers are highly versatile as they support various functions, including scanning, copying, fax, and printing. Moreover, the cost of multifunctional inkjet printers also tends to be lower than that of conventional inkjet printers. Even though the operating cost of multifunctional inkjet printers is typically high owing to the power they consume and the maintenance they require; their features, such as USB, Bluetooth, and Wi-Fi connectivity, and LCD touchscreen, make them highly user-friendly. Hence, small businesses and enterprises prefer multifunctional inkjet printers for coding and marking purposes.

However, the high capital investment required for implementing coding and marking equipment is expected to emerge as a major market restraint over the forecast period. Small businesses and enterprises particularly lack the financial resources and the infrastructure required to implement coding and marking equipment. On the other hand, the return on investment (ROI) associated with coding and marking equipment is hardly quantifiable, which is also discouraging major food producers from adopting it.

The outbreak of the COVID-19 pandemic took a severe toll on the coding and marking equipment market. The lockdowns implemented in different parts of the world as a precaution to control the spread of the virus affected the supply of raw materials and the movement of finished products. The temporary closure of factories in China also affected the supply of the inks used in coding and marking machinery.

Market Segmentation:

Grand View Research has segmented the global coding and marking equipment market based on product type, end-use industry, and region:

List of Key Players in the Coding And Marking Equipment Market

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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