Barcode printers and consumables Market expected to witness a CAGR of 8.0%, to top a valuation of $14,375.28 million by 2032: Future Market Insights

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The barcode printers and consumables market is set to expand its market space at a promising average CAGR of 8.0% and is anticipated to reach a valuation of around USD 14,375.28 million by 2032 while it holds a revenue of USD 6.658.5 million in 2022.

FMI’s research report on the market explains the rising market dynamics are an outcome of the higher adoption of barcodes in the production sector along with innovative ideas pushing producers to manufacture industry-specific barcodes.

Customer-centric production is further advanced with the advent of customisation, AI-based analysis, and innovative content suggestions, fuelling the sales of barcode printers and consumables. The major players in the market adopt this strategy. Modern-age data collection technologies such as barcode scanners and fruitful marketing techniques involving consumables are pushing the producers to adopt barcodes, which eventually expands barcode printers and consumables market size.

The advent of wireless barcode printers and consumables in its industrial application as well as their usage on desktops creates lucrative opportunities for the barcode printers and consumables market.

However, the memory system and programmable logic controllers create failed attempts to decline the sales of barcode printers and consumables.

Key Takeaways

  • United States holds 30.3% of the global barcode printers and consumables market and is anticipated to hold its position with a CAGR of 9.0% during the forecast period. The growth is attributed to a higher number of retail stores and spreading digitization.
  • China holds 8.3% of the global barcode printers and consumables market and is likely to hold its position with a CAGR of 6.0% during the forecast period. The growth is owed to the demand for higher efficiency, automation, and increased manufacturing units.
  • Another Asian market, Japan thrives at a CAGR of 7.0 in the global barcode printers and consumables market, attributing its growth to the higher demand from pharmaceuticals and logistics industries.
  • Direct thermal printers are the most successful based on the printing technology due to the lower impact on the environment due to the elimination of poly-based binding materials.
  • The Healthcare industry is the biggest application segment in the barcode printers and consumables market.

Future Market Insights analyst comments: “The future for barcode printers and consumables looks promising as digitisation penetrates the market. Lately, brands deal with user interface issues to fix the issues related to it. The use of barcode tags in logistics and supply chain management ensures efficient inventory management, effective movement of shipments within logistics networks, and effective monitoring of manufacturing and assembly processes. This transforms the market into a futuristic market.”

Competitive Landscape

Market participants are focused on minimising wastage and innovative solutions to reduce environmental impact by implementing unique and sustainable labelling solutions for the apparel and retail industry. In addition to this, the key players are focusing on expanding their product portfolio through product launches and innovations in their existing products and expanding their global presence through acquisitions and expansion.

  • Zebra Technologies Corporation, a manufacturer of marking, tracking, and computer printing technologies, announced that it had completed the acquisition of Matrox Imaging Company (Matrox Electronic Systems Ltd.), a developer of advanced machine vision components and software systems.
  • Avery Dennison, a leading manufacturer announced in August 2021 that it has achieved BioPreferred certification from the USDA (US Dept. of Agriculture) for C4200, new hot melt adhesives offering brands new opportunities to market sustainable packaging to their customers.

Regional Analysis

  • The US is anticipated to account for around 30.3% of the barcode printers and consumables market. Sales in the US barcode printers and consumables market are expected to grow at 9.0% CAGR between 2022 and 2032.
  • China is expected to account for a market share of around 8.3% in the global barcode printers and consumables market over the forecast period of 2022 and 2032China barcode printers and consumables market is expected to grow at 6.0% CAGR during the forecast period.
  • Japan’s barcode printers and consumables market is expected to increase at over 7.0% CAGR through 2022 & beyond.

These insights are based on a report on the Barcode Printers and Consumables Market by Future Market Insights.

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