Coding and marking equipment are used to print product-specific details on the product. These details are to provide end-users and manufacturers authentic information about the product. Coding includes the printing of manufacturing dates, expiry dates, and the size of the packaged lot among other details. Printing of codes or marks printed on products helps manufacturers to reduce the risk of counterfeiting and protect the brand image among end-users.
The global coding and marking market is likely to reach $6 billion by 2022, growing at CAGR of 6.25% during the forecast period. The overall market growth is highly correlated to the growth of the global packaging industry. Since the global packaging industry is growing at a steady rate of approximately 5% annually, the global market is also experiencing high growth.
Coding and Marking Market Size in Revenue
The report provides a holistic view of the global coding and marking market, the companies involved in the market, and the factors driving its growth. The report also provides information on some of the latest trends that have started to surface and are likely to become strong market driving forces over the next five years. This report also provides the Porter’s Five Forces analysis along with a description of each force and its impact on the market. Further, the report also provides complete value chain analysis of the global market.
Vendors providing high-quality products to penetrate the market
The competitive scenario in the global market is currently intensifying. Market leaders are providing high-quality products with additional features such as RFID system, QR codes required to enhance the performance of the products, while local vendors such as Macsa ID and Iconotech are providing inexpensive product offerings with basic features. Major vendors in the global market are Brother Industries, Danaher, Dover, Hitachi, and ITW.
Other prominent vendors in the market include Control Print, ID Technology, Iconotech, Inkjet, Keyence, Macsa, Matthews International, Paul Leibinger, SATO Holdings, Squid Ink, Universal Labeling Systems, Weber Marking Systems, and Xaar.
Innovation in products likely to drive the market
Increased manufacturing coding and marking equipment that are more graphic in nature, high demand from pharmaceutical, cosmetic, and food and beverage industries are among the leading factors that are going to accelerate the growth of the global market. The need for product identification and brand protection is increasing everyday among vendors worldwide. Manufacturers are encouraged to adopt coding and marking techniques to print product-specific information on packaged goods to protect the interests of end-users this trend is going to drive the market during the forecast period.
High impact of internet that helps end-users to make informed purchasing decisions, increased market consolidation, and high spending on R&D to introduce innovative applications and solutions in the market are among the emerging trends are likely to drive the market worldwide.
Inkjet technology to dominate the market
The laser and TIJ coding and marking technology segments are expected to gain the market share during the forecast period. Inkjet technology to constitute almost 40% of the global market share in 2022. The CIJ segment is likely to lose its market share marginally to other technologies during the forecast period. However, these can be overcome due to its easy availability and high penetration within the market.
The food and beverage segment will continue to hold the largest share of the market (50.71%) till 2022. It will be followed by the healthcare segment.
APAC is the fastest growing market
The report provides the market size of major regions such as APAC, Western Europe, Eastern and Central Europe, Latin America, MEA, and North America. The market in APAC is expected to witness a rapid growth rate due to high demand for coding and marking equipment in various end-user industries during the forecast period. APAC is also the fastest growing region in the global coding and marking market. The region is likely to remain the leader during 2016–2022. North America will be the second largest market during the forecast period. Legislations and industry mandates are expected to drive the global coding and marking market.
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