The global barcode printers and consumables market is expected to reach a value of USD 4,586.4 million in 2023. Sales prospects are expected to witness a healthy CAGR of magnitude 6.2%, to top a valuation of USD 7,881.1 million by 2033. Growth is due to the increasing adoption of barcodes in the manufacturing sector, boosting the demand for barcode printers and consumables in the upcoming years.
According to Future Market Insights (FMI), the United States is expected to remain a key market for barcode printers and consumables, owing to increasing demand from industrial and manufacturing sectors. Further, North America is expected to account for a huge share of 35% in the global barcode printers and consumables & consumables market. Sales in the North American market are estimated to surge at a CAGR of 6.4% between 2023 and 2033.
Furthermore, one of the primary aspects driving the barcode printers and consumables industry is that it can be installed with end users' systems in no time. With advanced technology and a customer-centric approach, the printers available are completely user-friendly, which is anticipated to propel the growth of the market over the years to come.
| Report Attributes or Data Points | Details |
|---|---|
| Global Barcode Printers and Consumables Market Valuation in 2022 | USD 4,318.6 million |
| Estimated Global Market Share in 2023 | USD 4,586.4 million |
| Forecasted Global Market Size by 2033 | USD 7,881.1 million |
| Projected Global Market Growth Rate from 2023 to 2033 | 6.2% CAGR |
| Historical Market Growth Rate from 2018 to 2022 | 4.4% CAGR |
| Collective Value Share of 3 Top Performing Countries in 2022 | 45% |
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The market for barcode printers and consumables witnessed growth at a CAGR of 4.4% over the historical period between 2018 and 2022. However, the barcode printer and consumable market's demand could increase at nearly 6.2% CAGR between 2023 and 2033.
Demand in the market is predicted to augment due to the expansion of the manufacturing sector and increasing adoption of automatic identification and data collection technologies. Further, adoption may surge to improve productivity coupled with growing concerns about product security and anti-counterfeiting.
Over the forecast period, the proliferation of e-commerce across the globe is pushing the demand for barcode printing. Hence, key players are highly focusing on product innovation, such as Avery Dennison, Printronix Inc., and Zebra Technologies, which are updating models of industrial printers to boost their presence in the global market.
Further, the introduction of wireless barcode printers and consumables in both desktop and industrial applications is expected to create lucrative growth opportunities for the market. For instance, Printronix Inc. introduced its desktop printer model M4L2, and GoDEX International Co., Ltd. launched the industrial printer model RT700iW.
To efficiently manage the supply chain of deliverable goods, end users are increasing the adoption of barcode printers and consumables. Hence, the advent of RFID and barcode technology improve cargo visibility and traceability. Moreover, due to increased theft and fraud in consumer goods and pharmaceuticals, demand for barcode printers and consumables is burgeoning.
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.
In addition, barcode printers and consumables are available with barcode verification capabilities and reduced costs associated with poor print quality labels. Hence, to ensure the print quality, the demand for barcode printers and consumables in the supply chain industry is anticipated to grow during the forecast period.
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Barcode printers and consumables are programmed to operate on a few user interface applications such as Windows and Linux. Hence, it functions smoothly when barcode printers and consumables are connected to a computer system that runs on these operating systems or any other operating system compatible with it.
However, as computer operating systems have increased significantly, the adoption of varied operating systems is surging to ensure the ease of usage and tasks necessary for the computer to carry out.
This factor is expected to be a roadblock to the growth in the barcode printers and consumables industry. Hence, owing to limitations of the memory system and programmable logic controllers inherent in barcode printers and consumables, key players might witness a decline in revenue over the upcoming years.
Rising Application in Drug Transportation and Logistics to Push the Sales in the United States
In 2022, the United States accounted for around 18.2% of the total sales of barcode printers and consumables globally. Sales in the United States market are expected to register a 9.0% CAGR between 2023 and 2033.
Growth is attributed to increased use in the transportation and logistics sector. As per the regulations in the United States, it is mandatory to use a unique serial number and barcode for manufacturers on every drug container for transportation and sale.
The industrial barcode printers and consumables available in the market offer robust performance on an easy-to-use platform. These barcode printers and consumables are durable steel construction components that withstand extreme temperatures, dirt, dust, and other harsh industrial conditions.
They feature a carefully designed printing mechanism that enables high-volume printing with low noise. Further, the presence of leading manufacturers in the United States, such as Honeywell International, Zebra Technologies, and AVERY DENNISON CORPORATION, is fueling the growth in the market.
Additionally, key companies, including TSC Auto ID Technology Co., Ltd. and Zebra Technologies Corporation, are offering industrial printers with advanced features such as LCDs, multiple resolutions, and extensive communication options such as Wi-Fi and Bluetooth.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| United States | 18.2% |
| Germany | 14.5% |
| Japan | 9.1% |
| Australia | 2.4% |
China Market to Benefit from Progressing Manufacturing and Industrial Sectors
As per FMI, China is considered one of the leading manufacturers and producers of industrial goods. The increasing application of barcode printers and consumables in the manufacturing sector is one of the key factors propelling the growth in the market.
China is expected to account for a CAGR of around 8.2% in the barcode printers and consumables market over the forecast period of 2023 and 2033. China's manufacturing and industrial sector represented nearly 38% of China's GDP in 2020. Also, to improve the efficiency and output in manufacturing companies, many manufacturers have adopted automation and streamlining of the manufacturing process.
Hence, barcoding is increasingly adopted to reduce time and material wastage. Based on these factors, the China market is expected to record a 6.0% CAGR during the forecast period.
| Regional Markets | CAGR (2023 to 2033) |
|---|---|
| United Kingdom | 5.8% |
| China | 8.2% |
| India | 5.5% |
Need for Cost-Effective Barcode Printers in Manufacturing Sector to Augment Growth
As per the study, Japan is considered to be the third leading manufacturing industry across the globe. Over the forecast period, demand in the Japan barcode printers and consumables market is expected to increase at over 7.0% CAGR through 2033 & beyond.
As barcode printers and consumables are cost-effective, the demand in pharmaceutical and logistics industries is gaining traction in Japan. Hence, demand for desktop and industrial barcode printers and consumables is expected to remain high in the country.
Also, sales of laser and inkjet printers for printing barcodes on a smaller scale are surging due to the extra cost involved in the purchase of specialty barcode printers and consumables. Thus, the barcode printers and consumables market may witness positive growth in Japan.
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Direct Thermal Printers to Account for Mammoth’s Share in the Market
Based on printing technology, direct thermal printers or thermal transfer printers are expected to be the most preferred for barcode printers. Both printing technologies operate on similar principles, wherein a heated print head impresses an image of a barcode on the label medium.
Currently, thermal transfer printers dominate the barcode printing market. However, direct thermal printers are gaining traction due to fewer parts involved. Problems related to thermal transfer printers involve the use of extra components, such as print ribbons, which hold the ink.
Hence, direct transfer printers have a slight advantage over thermal transfer printers where shorter print life is concerned, which incidentally is the case in most applications. Direct thermal printers have a lower environmental impact due to the elimination of poly-based binding material used to hold the carbon-based ink.
| Category | By Control System |
|---|---|
| Top Segment | Programmable Logic Controls (PLCs) |
| Market Share in Percentage | 36.8% |
| Category | By Technology |
|---|---|
| Top Segment | Meter Data Management |
| Market Share in Percentage | 24.5% |
Substantial Sales in Barcode Printers and Consumables Market to Come from Healthcare Industry
Barcoding is used in other sectors besides the manufacturing and retail sectors. This is evident from the fact that barcoding is being used to tag and record lumber wood. When a tree is felled and converted to lumber, the lumber is then recorded in the computer system through barcodes.
This has reduced the theft of lumber wood and facilitated the implementation of illegally derived lumber wood as raw material in the manufacturing sector. This is fuelling demand for rugged barcode printers and consumables.
Also, hospitals use special types of barcode printers and consumables called wristband barcodes, which use slightly different printing labels. These labels are wrapped around the hands of the patients. The technology is being slowly adopted in developing countries such as China and India. Hence, the demand for barcode printers and consumables is expected to burgeon in the healthcare sector and commercial services across the globe.
Market participants are focused on minimizing wastage and innovative solutions to reduce environmental impact by implementing unique and sustainable labeling solutions for the apparel and retail industry. In addition, 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.
On June 22, 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. With this acquisition, Zebra Technologies Corporation aims to grow quickly in the automation industry and vision technology solutions.
Zebra Technologies Corporation and Avery Dennison: Two Frontrunners Revolutionizing the Barcode Printers and Consumables Space
Barcode printers and consumables are widely adopted in retail sectors, where it has become the norm for labeling and storing information regarding products. This information is later retrievable through scanners that provide the retailer with the count of the same products on the store floor and inventory, as well as the prices of the products.
Considering their wide use in a range of industries, there is stiff competition among barcode printers and consumables manufacturers to consolidate their position in this space.
Zebra Technologies Corporation, a leading barcode printer and consumable, is focusing on expanding its production capacity through the opening of new manufacturing units. It is also increasing the existing manufacturing capacity of its business units.
For instance, the company announced the expansion of its printer service centers in Vietnam in June 2022. To complement the popularity of Zebra's printers, Zebra has expanded its service center capabilities to include desktops, mobile, label, and Industrial printers, along with ruggedized mobile computers, tablets, and wearables.
The company is also imparting education and training to its staff to ensure sales and after-service of its products are of high quality. For instance, Zebra's Authorized Service Partner in Vietnam – Vietcomido Company Ltd. – is equipped with skilled technicians trained to repair Zebra's wide range of innovative products and solutions, including barcode scanners, RFID readers, POS terminals, and printers.
Mergers and acquisitions are a key part of the overall strategy of Zebra Technologies Corporation. For instance, in June 2022, it announced that it had completed the acquisition of Matrox Imaging. (Matrox Electronic Systems Ltd.). This acquisition further expands Zebra’s offerings in the fast-growing automation and vision technology solution space.
Creating a positive brand perception in the minds of end-users is critical to success in the barcode printers and consumables space. Manufacturers usually take the help of marketing or certifications from reputed bodies to achieve this.
For instance, Avery Dennison, a leading manufacturer, announced in August 2021 that it had achieved Bio-Preferred certification from the USDA (United States Dept. of Agriculture) for C4200, new hot melt adhesives offering brands new opportunities to market sustainable packaging to their customers.
The USDA Bio-Preferred Certification program validates the bio-based content of products through third-party testing. The new adhesive is part of the flagship Sustainable Advantage product portfolio, which enables greater circularity, improves environmental impact, and facilitates transparency across the whole supply chain.
| Attributes | Details |
|---|---|
| Estimated Market Size (2023E) | USD 4,586.4 million |
| Projected Market Value (2033F) | USD 7,881.1 million |
| Value CAGR (2023 to 2033) | 6.2% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value and Units for Volume |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, ANZ, GCC Countries, Turkey, Northern Africa, South Africa |
| Key Segments Covered | Printer Type, Application, Printing Technology, Distribution Channel, Consumables and Region |
| Key Companies Profiled | TVS ELECTRONICS; ZEBRA; Toshiba Tec Europe.; HERMA Labeling Machines; RYNAN Technologies Pte Ltd; Honeywell International, Inc.; Toshiba TEC Corporation; SATO Holdings Corporation; Avery Dennison Corporation; TSC Auto Id Technology Co., Ltd; Others |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The market is predicted to expand at 6.2% until 2033.
The market is predicted to be valued at USD 7,881.1 million by 3033.
The United States accounts for 18.2% revenue share market.
The market was valued at USD 4,318.6 million in 2022.
China with 8.2% CAGR sales will dominate the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Printer Type 5.1. Desktop Printer 5.2. Industrial Printer 5.3. Mobile Printer 5.4. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Industrial/Manufacturing 6.2. Transportation/Logistics 6.3. Retail 6.4. Healthcare 6.5. Government 6.6. Commercial Services 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Printing Technology 7.1. Thermal Transfer 7.2. Direct Thermal 7.3. Dot Matrix 7.4. Laser 7.5. Ink Jet 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Consumables 8.1. Ribbons 8.1.1. Wax Ribbons 8.1.2. Wax/Resin Ribbons 8.1.3. Resin Ribbons 8.2. Labels 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. TVS ELECTRONICS 19.2. ZEBRA 19.3. Toshiba Tec Europe. 19.4. HERMA Labeling Machines 19.5. RYNAN Technologies Pte Ltd 19.6. Honeywell International, Inc 19.7. Toshiba TEC Corporation 19.8. SATO Holdings Corporation 19.9. Avery Dennison Corporation 19.10. TSC Auto Id Technology Co., Ltd 20. Assumptions & Acronyms Used 21. Research Methodology
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Barcode Printers and Consumables Market
