The Latin America, Middle East and Africa Inkjet Coders Market would witness market growth of 7.3% CAGR during the forecast period (2023-2029).
Over the course of the forecast period, it is anticipated that technological advancement for coders, such as development in software that controls and monitors automatic flush systems and ink viscosity that helps save time by stopping or eliminating the daily print head, will create enormous growth opportunities for the market. It is also expected that decreasing the amount of air that ink mixes with and rising consumer desire for reduced solvent evaporation rates (quick drying times) will propel the market.
As a result, the solvent's capacity to evaporate from the bulk ink can be significantly reduced and eliminated, lengthening the decay time. Inkjet coders' usability is subsequently enhanced as a result of this. The market is anticipated to be driven throughout the forecast period by the rapidly expanding retail sector and rising demand for FMCG items.
Urbanization, population expansion, and an increase in the standard of life are only a few of the positive socio-economic & demographic aspects that have been associated with the growth. Additionally, the demand for these coders is being driven by the growth of pharmaceutical retailers. These printers are utilized in the pharmaceutical sector to mark blister packs, cartons, and packages containing medications and other retail goods. This enables the traceability necessary for compliance with regulatory requirements and guards against the sale of fake pharmaceuticals.
Most cosmetics items bought in the nation are natural cosmetics and anti-aging products. The greater awareness of these products' advantages is a significant factor in driving demand for cosmetics. In addition, growing environmental concerns and the rising demand for personal care products would present both current and new market rivals operating in the regional inkjet coders market with considerable growth prospects. Additionally, the disposable income of the regional population is growing quickly. Consumers in the region may now more easily purchase novel, expensive, and creative personal care products. As a result, the expansion of the LAMEA market is anticipated to surge in the forecast period.
The Brazil market dominated the LAMEA Inkjet Coders Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $50.5 million by 2029. The Argentina market is exhibiting a CAGR of 7.9% during (2023 - 2029). Additionally, The UAE market would showcase a CAGR of 7% during (2023 - 2029).
Based on Type, the market is segmented into CIJ Coder, Drop on Demand (DOD), TIJ Coder and Others. Based on Application, the market is segmented into Food Industry, Medical Application, Packing Industry, Cosmetic Industry, Automobile Industry, Pipes, Wires, & Cables and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Inkjet Coders Market is Projected to reach USD 2.6 Billion by 2029, at a CAGR of 5.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Markem-Imaje (Dover Corporation), ANSER CODING INC., ITW Diagraph (Illinois Tool Works), KGK Jet India Private Limited (KGK Jet), Kiwi Coders Corporation, Linx Printing Technologies (Danaher Corporation), Shanghai Rottweil Handyware Printing Technology Co., Ltd, Squid Ink Manufacturing, Inc. (Engage Technologies Corporation), Xaar plc and ID Technology LLC (ProMach Inc.).
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