According to Smithers Pira, the global packaging industry is set to rise at a CAGR of 3.5% through to 2020. Furthermore, the packaging machinery market is projected to witness remarkable growth, which is expected to satisfy increasing demand from food and pharmaceutical industries. Eye-catching packaging designs coupled with precise coding and marking on food products is gaining more popularity with consumers in the food and beverage industry. According to estimations, the global coding and marking market was valued at $5.52 billion in 2020, and is projected to grow at a CAGR of 5.5% during the forecast period from 2020 to 2025.
Progression in automation process involved in the production of food products is disrupting the APAC coding and marking systems market. Growing urbanization in China, India, Japan and South Korea along with increasing consumer awareness of the prominence of anti-counterfeit packaging is propelling demand for the coding and marking market. Rising mandate for pouch and smaller size packages mainly for sauces, shampoos, snacks, conditioners, oils, and small electronics products is booming the consumer products industry. These packages offer strong resistance to leakage of liquids. High production volumes by food, beverage and pharmaceutical manufacturers in China are set to fuel growth of the global coding and marking market. Thus, APAC held a leading share of 30% in the global coding market in 2020.
Marking Market Outlook:
Small character inkjet printers use continuous inkjet technology to print one to 10 line texts, barcodes, data matrix codes, dates and logos with high resolution. It works more efficiently on foils, plastics, and laminates. Product marking engages with product characteristics and packaging description through pictograms, symbols, graphics, text and logos. It can be done using varied product marking techniques such as inkjet marking with small character inkjet printers, labeling, colored markings, thermo transfer printing and laser marking.
Plastic materials play a dominant role in the 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. Continuous inkjet, laser, pezio, drop on demand technologies are majorly used for coding and marking plastic materials. Rising demand for plastic based packaging on a daily basis is driving growth of the coding market. Budding innovations and increasing popularity for attractive plastic packaging materials in the food and beverage industry is increasing scope of expansion for plastic materials. Therefore, plastics are recognized as the fastest growing application segment, estimated to grow at a CAGR of 5.3%.
Coding Market Growth Drivers
- Packaging Industry
Advancement of ecofriendly marking systems and novel packaging designs and materials in the packaging industry are boosting demand of the marking market. Widespread of global packaging formats is encouraging globalization by providing great opportunities to firms to multiply their market reach and improve their market share.
- Government Regulations
Strict government regulations and growing logistics issues are resulting in a rise in demand for coding and marking equipment at a global level as companies are trying to abide by rules and sustain with bottomline losses.
Coding and Marking Market Trends
- Government Funding
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 indirectly boosting the growth of coding and marking market.
- Acquisition in the Coding Market
In 2020, packaging machinery manufacturer ProMach acquired Code Tech Corporation to further expand its labeling and coding portfolio.
Coding and Marking Market Key Players Perspective –
Danaher Corporation, Brother Industries Limited, Illinois Tool Works, Dover Corporation, Hitachi Ltd, Rea Elektronik GmBH, ID Technology, Matthews International, Keyence Corporation, and Best Code are some of the prominent players involved in the global coding and marking market.
Coding and Marking Market Research Scope:
The base year of the study is 2020, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the coding and marking market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The coding and marking market research report also analyses the applications of the coding and marking in various end use industries such as automotive & aerospace, chemicals and materials, electronics instruments & machinery, consumer products and healthcare & pharmaceuticals.
Coding and Marking Market Report: Industry Coverage
This report also documents the coding and marking market based on technology type that includes continuous inkjet, laser coding, thermal transfer overprinting, thermal inkjet, and piezo drop on demand. Based on materials it has been segmented into metals, plastics and paper & cardboard. By material color classification it is divided into brown and white. On the basis of application it is classified as direct printing and barcode-label printing.
The coding and marking market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia
- Middle East and Africa: Israel, South Africa, Saudi Arabia
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Methodology
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