Coding and Marking Market size is $5966.9M in 2019, growing at a CAGR of 4.1% during the forecast period 2020-2025. Coding and Marking is a method used to print information and data on different surfaces. It is utilized for printing data, details or information onto the products made of different materials. It includes the printing of manufacturing dates, expiry dates and the size of the packaged lot among other details and size of product in units like grams or kilograms along with the packaging size which further reduces the risk of counterfeiting and protects the brand image among end-users. These codes and markings help ensure traceability and safety of the product and mitigate counterfeiting. Coding and Marking are used in food and beverage industry, for providing product-specific information. Manufacturers in this market are involved into the production of more coding and marking products which are preferred by healthcare & pharmaceuticals, consumer products, automotive & aerospace and others. Rising number new manufacturers producing coding and markings products is set to increase the market’s growth.
By Application – Segment Analysis
In 2019, Direct Printing segment dominated the Coding and Marking Market in terms of revenue is estimated to grow at a CAGR of 4.2%. Direct printing involves marking, coding and printing of product information on manufactured products, packaging enclosure or the final pallet directly with the aid of high resolution inkjet coders. In direct printing process, the film of ink over the surface of ink roll is transferred to the character face of the print head and is then deposited onto the printing media. Innovations in packaging have resulted into significant ups and downs in the sale of products. Thus the rising innovations in case packaging and its increasing importance in packaging is set to drive the segment in coming future abetting towards the growth of the market.
Geography – Segment Analysis
In 2019, the Asia-Pacific region dominated Coding and Marking Market in terms of revenue with a market share of 5.8% owing to the impressive growth of the industrial and retail sector in India, China and Australia. The presence of robust manufacturing industries including automotive, construction, chemicals, defense and aerospace is to boost the demand for sophisticated equipment in the global market thereby, rising the demand for coding and marking market. The government of this region has been taking active measures and have been formulating and implementing technologically advanced packaging methods for products under trade which enables manufacturer to trace its products throughout the supply chain, and recall the product as and when required, track production and match replacement parts in this region are key factors in the growth of the Coding and Marking market. North America is estimated to record the fastest growth rate during the forecast period 2020-2025.
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Drivers – Coding and Marking Market
Increasing Number of Labeling Regulations
Increase in the number of labeling regulations drive the Coding and Marking Market owing towards the consumers awareness regarding consumption procedures and usage. There are many number of labeling regulation by the Industries authority. These labeling regulations propose color coded labeling to enable consumers to identify products that are high in fat, salt and sugar (HFSS) products thus providing the benefits and ill effects of consumption of any product or services by consumers. Regulations for different color coded produce the safety and security for consumer products. For e.g. Red label indicate the risk at the consumption. Similarly for Green label it indicates that the products are good enough to consume.
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Challenges – Coding and Marking Market
Regular Upgradation of Standards in Food, Beverages, Medical and Pharmaceuticals Industry
Updating coding and marking equipment has been a challenge for the end users since long and this difficulty is set to restraint growth of the market. Machine or System which are often used for the coding and marking create everyday operational challenges. In order to update it, there is drawback as it has costly downtime and production becomes less. Also, this upgradation problem is more often in terms of regular standard upgradation particularly in pharmaceutical and Food & Beverage Industry is hindering the market’s growth.
Coding and Marking Industry Outlook
Product Launches was the key strategy of the players in the Coding and Marking Industry. Coding and Marking top 10 companies include Danaher Corporation, Brother Industries Limited, Illinois Tool Works, Dover Corporation, Hitachi Ltd, Rea Elektronik GmBH, ID Technology, Matthews International and Best Code.
In May 2019, Dover Corporation has launched a laser printer designed to save on capital expenditures (CAPEX) and operating expenditures (OPEX) by reducing the number of lasers needed to print and score across a wide film web, while also increasing coding speed and uptime.
In February 2017, Best Code launched Next Series 8 Range of Continuous Ink Jet Printing Systems for printing small and large character marks and codes to enhance its existing product portfolio.
Advancement of ecofriendly marking systems, novel packaging designs and materials in the packaging industry tis increasing demand of the marking market.
The increasing need for product traceability will accelerate the demand for coding and marking during the forecast period 2020-2025.
North America region is estimated to record the fastest growth rate during the forecast period.
Prepared Food Equipment Market
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