Rising International Trade, E- Retailing and Logistics is anticipated to drive the Coding and Marking Market during the forecast period 2019-2025. Coding and Marking Market size is $5966.9M in 2019, growing at a CAGR of 4.1% during the forecast period 2020-2025.
The Coding and Marking Market is growing at a significant rate owing to growing logistics issues and stringent government regulations are resulting into rise in demand for coding and marking equipment at global level as companies are trying to abide by rules and incur minimum losses. E-commerce is growing 4 times than world economy. Mislabeling are common problems for shipments leading to lover level of compliance than compared to private companies. With help of coding and marking labeling it improves the quality, availability, affordability of delivery solutions with reason that they provide better interconnect information systems to allow data exchange and tracking in E-retailing industries.
Packaged products contains various codes and marking such as best-before, lot dates, EAN, data matrix barcodes and various unique identifiers. These codes and marks helps in ensuring traceability and product safety along with ability to avoid counterfeiting. These coding and marking can be done using various technologies available in the market that includes continuous inkjet, thermal transfer overprinting, laser coding, thermal inkjet, piezo drop on demand and others. The advantages associated with these technologies involves very high velocity of the ink droplets, which allows significant distance between printhead and substrate, along with very high drop ejection frequency, allowing for high-speed printing. It enables non-contact printing which is advantageous over other technologies including mark quality (such as no smell and no dirty hands), permanence and fewer consumables. Since, the system includes no consumables it turns out to be environmentally friendly and cost-efficient. The cost of research & development are important in reference to developing better technology. Rising government initiatives encouraging small and medium sized enterprises (SMEs) to establish food and beverage manufacturing units, and government policies in favor of SMEs are allowing them to opt for the requisite infrastructure and establish a strong firm. These rising initiatives from government are incidentally abetting the growth of coding and marking market.
Asia-Pacific holds a major share of Coding and Marking market owing to the rising demand for pouch and smaller size packages in various industries especially for products such as snacks, sauces, shampoos, conditioners, oils, small electronics products and others. Code and mark printers are widely used in industrial fields such as food and beverages, pharmaceuticals, chemical and further constructions. The increasing economic development, changing lifestyles, demand for automation along with growing population in the region are driving the market thus propelling the coding and marking market. Furthermore, strict government regulations in order to show the formulation of the product, the amount of each ingredient credited toward a pattern component in this region is further bolstering the growth of coding and marking systems market.in India, China, Japan, Australia & New Zealand and others are set to avail new growth opportunity to Coding and Marking market during 2019-2025
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Coding and Marking Market Growth Drivers:
- Rising Demand of Plastic Based Packaging:
Plastic plays major role in terms of Packaging industry. PE, PC, PVC, PP, PES, PET, formaldehyde resin, synthetic rubber, and latex are the different plastic packaging materials, which can be coded and marked. Parts made up of plastic are used in many industries such as the pharmaceutical, food, packaging, cable, electric and electronics industries. The continuous inkjet printers from LEIBINGER are suitable for permanently marking and coding plastic products. With such rising usage of Plastic based packaging in different industry particularly the marking demand for such products is increased in both organized and unorganized food industry leading to growth of market during the forecast period 2020-2025
- Companies Commitment to Address Traceability, Counterfeit and Food Safety Concerns:
The growing need for traceability of products in automotive, aerospace and healthcare industries is one of the key factors driving the coding and marking market globally. Counterfeit and food safety concerns are the other key factors impacting the market growth. Engraving Markets that can deliver information on date of manufacture, runtime of molds by means of coding systems are within the manufacturer’s discretion and not mandatory. This in turn is set to drive the coding and marking market during the forecast period 2020-2025.
Dover Corporation has expanded CoLOS Mark & Read camera and software system that helps manufacturers tailor code verification to best suit application needs and budget.
The Major Players in this Market Include
The major companies in the Coding and Marking market include Dover Corporation, Hitachi Ltd, Rea Elektronik GmBH, ID Technology, Matthews International, Best Code. and others. In 2020, Matthews Marking Systems launched a new line of print and apply labeling system to their previously extensive product offering, called as MPERIA A-Series.
Over the years, companies have mainly focused on offering a wide range of products for coding and marking and have vast geographical presence globally, thereby augmenting their respective positions in the market. 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 are set to increase in the degree of competition are the major factors set to buoy the Coding and Marking market during 2019-2025.
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