Coding and Marking System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
- Transparency Market Research
Coding and marking is one of the most important part of logistics and manufacturing process of industrial and consumer goods. Coding and marking systems is the equipment that is used to print the product specific details such as lot size, expiry date, manufacturing date and other related details on the product as well as on its packaging in order to provide the authentic information to the consumer. Apart from this it helps manufacturers to secure their brand against counterfeits prevailing in the global coding and marking system market. During the logistics process, an authorized individual in the value chain can track the goods from manufacturing unit till the time it leaves the retail store with the end-user or customer. Apart from the usage of tracking the products, these codes or marks are the factors that indicate the manufacturers focus towards brand building, product traceability, increased safety issues and quality assurance of the product.
Global coding and marking system market: Market Segmentation
Global coding and marking system market is segmented on the basis of technology type and end use type. On the basis of technology type, global coding and marking system market is segmented into continuous inkjet, thermal transfer, laser coding, large character printer and thermal inkjet. Continuous inkjet coding is the most preferred technology in the global coding and marking system market due to its ease of installation. Moreover, this technology is expected to dominate the global coding and marking systems market among all the available technologies whereas, thermal transfer printers is anticipated to be the fastest growing technology in the global coding and marking system market throughout the forecast period. On the basis of end use type, the global coding and marking system market is segmented into food & beverages, pharmaceutical, consumer products and industrial. Food & beverages segment can be further sub-segmented into fruits & vegetables, meat & poultry, pet food & animal feed, dairy products, packaged food and others. Industrial segment can be further sub-segmented into automotive & aerospace, building material, chemicals, electric components & electronics and others.
Global coding and marking system market: Market Dynamics
One of the significant factor that is driving the growth of global coding and marking system market is the growing retail sector and increasing demand for FMCG products on the backdrop of socio-economic and demographic factors such as increasing urbanization, growing population and the rising living standard. Moreover, the rising demand for food & beverage industry is another factor that is driving the growth of global coding and marking system market. In addition to this, increasing government regulatory pressure to meet the industry standards for coding and marking is another factor that is fueling the growth of global coding and marking system market. Currently the development of eco-friendly marking system is the prevailing trend in the global coding and marking system market with the development of marking devices based on biodegradable resin. However, one of the major restraining factor that hamper the growth of global coding and marking system market is the volatility in terms of regular standard upgradation, particularly in the pharmaceutical and food & beverage industries
Global coding and marking system market: Regional Outlook
Geographically, global coding and marking system market is segmented into North America, Latin America, Western Europe, Eastern Europe, APEJ (Asia Pacific excluding Japan), MEA (Middle East & Africa) and Japan. Globally, APEJ is the fastest growing region in the global coding and marking system due to impressive growth of the industrial and retail sector. Furthermore, the emerging countries of APEJ is expected to drive the global coding and marking system market. North America accounts for largest market share of global coding and marking system market and is expected to grow at a healthy rate due to advancement in technology coupled with increasing expenditure by vendors in research and development activities. Being the largest contributor in the total global output of chemicals, Europe coding and marking system market is expected to witness an above average growth rate over the forecast period.
Global coding and marking system market: Major Players
Some of the key players identified across the globe in the coding and marking system market are Markem-Imaje UK Ltd, Overprint Packaging Ltd, Hitachi America Ltd, V.L. Limitronic, S.L., Danaher Corporation, ATD Ltd, RN Mark Inc., Markjet Inc., Squid Ink, an Engage Technologies Corporation Company and ID Technology LLC.
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