US Coding & Marking Market - Focused Insights 2023-2028

US Coding & Marking Market - Focused Insights 2023-2028

REPORT OVERVIEW

The US coding & marking market will be valued at around $ 1,321.74 MN in 2022. This report provides complete information regarding consumer purchasing behavior and the adoption of coding & marking in the US. Major players focus on strategic agreements, acquisitions, and collaboration with emerging players to enter the US coding & marking market to gain access to commercially launched products.

KEY HIGHLIGHTS:

• The GDP contribution of the US to the global economy was around $23.32 trillion in 2021. The US holds a significant share of the benchtop tools market and is expected to further grow at a significant rate over the forecast period. High affordability and rise in disposable income play an important role in driving the demand for the coding & marking market in the country.
• Coding and marking solutions have found a consistent demand in the US owing to the frequent monitoring by government regulatory bodies. The U.S. Food and Drug Administration (USFDA) has been regulating the food code in the country since 1997. Their database has a food code reference system that enables users to search and retrieve the data as per their choices.
• Another key growth area for vendors in the coding and marking market arises from the growth of various end-user industries. For instance, almost every region in the country has witnessed considerable growth in the natural foods and beverages segment. In addition, the demand for organic food items has seen a sharp rise due to the growing inclination among people to eat healthily.
• Over 15% of the US population prefers to consume food products with over 69% plant-based content driving the demand for organic products. Increasing demand for men’s grooming products, organic cosmetics, and anti-aging products is boosting the demand for packaging, coding, and marking in the US.
• The demand for products is rising in the US, mainly due to the high disposable income. Increasing product consumption due to high disposable income is boosting packaging demand, thereby driving the e-growth of the coding and marking market. In 2023, disposable personal income increased by 0.5% and reached $89.9 billion and personal consumption expenditure increased $27.9 billion which is an increase of 0.2%.
• The US is one of the leading producers of cosmetics and personal care products and is the hub of prominent companies in this segment. The US has a footprint of several multinational companies in cosmetics that hold a prominent position across the globe. For instance, Revlon, L’Oréal, Avon, and others are the most popular cosmetic products. Therefore, the country is expected to witness a huge demand for coding and marking from the cosmetics and personal care segment.

LIST OF VENDORS

Key Vendors

• Danaher
• Dover
• Brother Industries
• Hitachi Industrial Equipment & Solutions
• ITW Diagraph

Other Prominent Vendors

• ANSER
• EBS Ink-Jet Systems
• Iconotech
• ID Technology
• KEYENCE
• Leibinger Group
• Matthews International
• Squid Ink
• Zanasi
• Laserax
• REA Elektronik
• SATO Holdings
• Weber Marking Systems
• Xaar