Portland, OR, June 26, 2023 (GLOBE NEWSWIRE) -- Allied Market Research has recently published a report, titled, “Inkjet Coder Market
by Type (Continuous Inkjet Coder, Thermal Inkjet Coder, Drop on Demand Inkjet Coder, Others), by End-user (Food Industry, Pharmaceutical Industry, Cosmetic Industry, Wires, Cables and Pipes, Automobile Industry, Packing Industry, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global inkjet coder market generated $2 billion in 2022, and is anticipated to generate $3.3 billion by 2032, witnessing a CAGR of 5.4% from 2023 to 2032.
Prime Determinants of Growth
Over the years, there has been an increase in the demand for industrial automation across various industry verticals for streamlining the production processes. This increase in demand for industrial automation is predicted to be one of the important factors driving the growth of the global inkjet coder market in the forecast timeframe. However, challenges with respect to adhesion on substrates with low surface energy or uneven surfaces may hamper the inkjet coder market growth in the coming period. On the contrary, the increasing expanse of food processing industries has led to surge in demand for inkjet coders which is expected to offer growth opportunities for expansion of the inkjet coder market in the 2023-2032 forecast period.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $2 billion |
| Market Size in 2032 | $3.3 billion |
| CAGR | 5.4% |
| No. of Pages in Report | 310 |
| Segments covered | Type, End-user, and Region |
| Drivers | Increasing need for inkjet coders due to the rising industrial automation for streamlining production processes The growing applications of inkjet coders in wide range of industries, including, pharmaceuticals, cosmetics, automotive, electronics. |
| Opportunities | The growing expanse of food processing industries leading to surge in demand for inkjet coders The rising demand for transparency and traceability in different end-use industries |
| Restraints | Challenges with respect to adhesion on substrates with low surface energy or uneven surfaces |
COVID-19 Scenario
- The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global inkjet coder market. The slowdown in various industries affected the demand for inkjet coders which brought down the growth rate of the market.
- Also, the manufacturing of inkjet coders was hampered on account of disruptions in global supply chains which further declined the growth rate of the market.
- The inkjet coder market is, however, projected to show steady growth in the future due to increasing demand for industrial automation across various industry verticals.
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Type: Continuous Inkjet Coder Sub-segment Projected to be Highly Dominant During the Forecast Period
The continuous inkjet coder sub-segment accounted for the highest inkjet coder market share in 2022 and is expected to continue its dominance during the forecast period. In the last few years, there has been an overall increase in the investments in R&D by various manufacturers to improve printing quality, reliability, ease of use, and maintenance of continuous inkjet coding systems. This growth in investments is predicted to boost the sub-segment’s growth by 2032.
End-User: Food Industry Sub-segment to Flourish Immensely by 2032
The food industry sub-segment generated the highest market share in 2022 and is predicted to grow at a high CAGR of 6.5% by 2032. Increasing use of inkjet coders by food and beverage industries to print variable data on food packaging, such as production and expiry date, customized messages, marketing offers, or information relevant to a certain region is predicted to boost the sub-segment’s growth by 2032.
Region: Europe to be the Most Dominant in Terms of Market Share by 2032
The Europe region accounted for the highest share in the global inkjet coder market in 2022 and is expected to continue to maintain its majority of market share during the forecast period. The rapid growth in expansion of pharmaceutical industries in various countries such as the UK, Germany, and Belgium is expected to be the main growth driver of the market in Europe region by 2032.
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Leading Players in the Inkjet Coder Market:
- ANSER CODING INC
- Domino Printing Sciences Plc
- Xaar Plc
- Hitachi Industrial Equipment Systems Co., Ltd
- Control Print Limited
- MapleJet
- Markem-Imaje S.A
- Shanghai Rottweil Handyware Printing Technology Co., Ltd
- Linx Printing Technologies
- Videojet Technologies Inc.
The report provides a detailed analysis of the key players of the global inkjet coder market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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