PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1565633
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1565633
Inkjet Coders Market size was valued at USD 1,830.43 Million in 2023, expanding at a CAGR of 8.10% from 2024 to 2032.
Inkjet coders are devices used for printing text, numbers, and codes onto various surfaces, often in industrial settings. They use inkjet technology, which involves spraying tiny droplets of ink onto a product or packaging. These coders are commonly used for marking products with expiration dates, batch numbers, barcodes, and other information.
Inkjet Coders Market- Market Dynamics
Growing automation in manufacturing and high demand from food packaging is expected to propel market demand
Manufacturing processes are now becoming more automated, there is an increased need for integrated coding solutions that can keep up with high-speed production lines and provide consistent, high-quality printing, which is expected to bolster market growth. Further, innovations in inkjet coding technology, such as improvements in print quality, speed, and versatility, enhance the appeal of inkjet coders. Newer models offer better reliability, lower maintenance, and cost-efficiency, which boost their adoption. Inkjet coders, particularly those with lower maintenance and operational costs, are increasingly seen as cost-effective solutions compared to traditional coding methods like laser or thermal transfer.
The rise in packaging activities, particularly in the food and beverage, pharmaceuticals, and consumer goods sectors, drives demand for inkjet coders to mark expiration dates, batch numbers, and other critical information on packages. As industries face stricter regulations and consumer demands for transparency, there is a growing need for precise and reliable coding and marking solutions to ensure product traceability and compliance, boosting market growth.
Inkjet Coders Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.10% over the forecast period (2024-2032)
Based on Type segmentation, the continuous inkjet (CIJ) coder segment was predicted to show maximum market share in the year 2023, owing to its wider adoption & high demand in packaging sector.
Based on Application segmentation, packaging segment was the leading Application in 2023, owing to rising need for packaging products in pharma, food & cosmetics industries.
Based on End User segmentation, the food segment was the leading End User segment in 2023, due to high demand for inkjet coders for food packing & delivery and rising food volumes.
On the basis of region, North America was the leading revenue generator in 2023, due to the high demand from developed pharmaceutical & healthcare industry.
The Global Inkjet Coders Market is segmented on the basis of Type, Application, End User, and Region.
The market is divided into two categories based on Type: continuous inkjet coders and drop on demand inkjet coders. The continuous inkjet coders segment dominates the market. The growing demand from pharma & packaging sector and tech innovation like laser coders are contributing to segment growth.
The market is divided into six categories based on Application: packaging, textiles, pharmaceutical, agriculture, cosmetics, and others. The packaging segment dominates the market. The growing demand from smart packaging in different sectors like food and retail are boosting segment growth.
The market is divided into four categories based on End User: food, healthcare, automotive, and others. The food segment dominates the market and is expected to maintain its high dominance during the forecast period. The growing demand for food packaging is mainly proliferating market growth.
Inkjet Coders Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America is one of the leading markets for inkjet coders, driven by advanced manufacturing capabilities, high levels of industrial automation, and stringent regulatory requirements in sectors like pharmaceuticals and food and beverage. In Europe, European regulations regarding product labeling, traceability, and environmental impact push for the use of advanced coding technologies. The Asia-Pacific region is experiencing rapid growth in the inkjet coders market, driven by industrialization, urbanization, and increasing manufacturing activities.
The inkjet coders market is highly competitive and features several prominent players, each vying for enhancing market share through technological advancements, strategic partnerships, and innovative solutions. Market players are focusing on enhancing printer reliability, print quality, and integration with digital technologies like IoT and AI to offer smarter, more efficient solutions. Furthermore, Companies are pursuing acquisitions and forming strategic partnerships to enhance their technological capabilities, expand their product portfolios, and enter new markets.
In 2022, Videojet Technologies Inc., one of the leading manufacturers of coding and printing products, announced the launch of six new inks for larger inkjet printers.
In 2022, Systech technology enabled their manufacturers to add a digital layer of protection to enhance their products security.