The global inkjet coders market is projected to reach USD 2.1 billion by 2025, and is anticipated to grow at CAGR of 5.1% during the forecast period, according to Million Insights. The rising adoption of inkjet coders in the medical sector is projected to drive market growth during the forecast period. This product is used in medical applications to cater to increasing demand for traceability that enables prevention against counterfeit pharmaceuticals.
The inkjet coders is widely used in the food and beverage industry to provide information and knowledge about products. Information coded comprises nutritional information, ingredients, and expiry dates. In recent years, the TIJ inject coder demand has been increasing in the food industry, as it provides better quality print and resolution.
The packaging industry is shifting towards marking and coding methods. These coders are used in this industry for coding tobacco packages, identifying, and tracking products. The growth is attributed to the increasing number of pharmaceutical stores, especially in developing regions. In addition, government support by introducing various legislative norms to produce accurate labels is anticipated to have substantial growth by the end of the year 2025.
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Further key findings from the report suggest:
• The inkjet coders market is expected to have significant growth over the forecast period due to increasing adoption of inkjet coders across various verticals such as automobile, food & beverage, and pharmaceuticals.
• The Drop on Demand (DOD) product type is expected to have considerable growth during the forecast period due to its several benefits such as functionality and flexibility.
• In 2018, food industry held the largest market share due to stringent regulation to print clear information about the products.
• Europe is expected to hold largest market share during the forecast period due to presence of a large number of manufacturers providing advanced printing technology.
• Markem-Imaje; Kiwi Coders Corp.; Linx Printing Technologies; Xaar Plc; Videojet Technologies Inc.; Hitachi Industrial Equipment Systems Co., Ltd. and KGK Jet India Private Limited are the key players operating in this market. Product development and products launches are expected to remain key strategies among market players.
Million Insights has segmented the global inkjet coders market on the basis of type, application, and region:
Inkjet Coders Type Outlook (Revenue, USD Million, 2015 - 2025)
• CIJ Coder
• DOD Inkjet Coder
• TIJ Coder
Inkjet Coders Application Outlook (Revenue, USD Million, 2015 - 2025)
• Food Industry
• Medical Application
• Cosmetic Industry
• Automobile Industry
• Pipes, Wires & Cables
• Tobacco Industry
• Packing Industry
Inkjet Coders Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa