Coding and Marking Market Overview
Coding and Marking Market size was valued at $6,099.57 million in 2019, and it is estimated to grow at a CAGR of 5.84% during 2020-2025. The growth is mainly attributed to the increasing adoption of automation and other advanced technologies in industries and this drives the market growth. Furthermore, stringent regulations in food and pharmaceutical packaging sectors propel market growth.
Coding and Marking Market Report Coverage
The report: “Coding and Marking Market Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Coding and Marking Market.
By Technology Type: Continuous Inkjet, Laser Coding, Thermal Transfer Overprinting, Direct Thermal, Thermal Inkjet, Piezo Drop on Demand, Others
By Material: Paper & Cardboard (Plain-Paper/Carton, Top-Coated Paper/Carton, Paper-Based Composites), Plastics, Metal, Others
By Type: Equipment, Consumables, Services
By Color of Material: Brown, White, Others
By Application: Barcode Label Printing, Direct Printing
By End-Use Industry: Healthcare & Pharmaceuticals, Consumer Products (Personal Care & Toiletteries, Food & Beverage, Others), Electronics, Instrument & Machinery, Automotive & Aerospace, Chemicals & Materials, Others
By Geography: North America (U.S., Canada and Mexico); South America (Brazil, Argentina, Chile, Rest of Americas); Europe (U.K., Germany, Italy, France, Spain, Russia, Netherlands, Rest of Europe); APAC (China, Japan, South Korea, India, Austraalia & New Zealnd, Indonesia, Malaysiaa & Rest of APAC); RoW (Middle East & Africa)
Key Takeaways
- Asia-Pacific (APAC) dominated the Coding and Marking market in term of revenue in 2019 owing to the increasing demand from retail and manufacturing sector.
- Adoption of advanced technologies such as automation, artificial intelligence technologies in industries is poised to propel the market growth.
- Increasing adoption of Coding and Marking in healthcare and pharmaceutical sectors owing to stringent regulations provide opportunities for the market growth.
- High price is the major challenge that hampers the market growth.
Coding and Marking Market Segment Analysis - By Type
Continuous Inkjet held the major share 34.39% of coding and marking market in 2019 in coding and marking market. This printing technology can be used on various substrates such as boxes, flexible film, cans, glass, plastic, wood, metal, polyethylene terephthalate (PET) and polypropylene (PP). Major advantages associated with this technology involves very high velocity of the ink droplets, that allows significant distance between printhead and substrate, along with very high drop ejection frequency, letting for high-speed printing. Continuous inkjet provides offer high speed, flexibility and easy usage and adoption of this technology in industries drives the market.
Coding and Marking Market Segment Analysis - By Industry Vertical
Healthcare and Pharmaceuticals is the fastest growing segment in Coding and Marking market and estimated to grow at a CAGR of 7.42% during the forecast period 2020-2025 owing to evolution of global pandemic disease and increasing prevalence of chronic diseases. In Healthcare and pharmaceutical sector, coding and marking equipment is used in packaging of various products such as capsules, powders, liquids, ointments in bottles, tubes, boxes and other packaging types. Increasing adoption of coding and marking equipment in healthcare and pharmaceutical sector owing to stringent regulations, brand protection provides opportunities for the market growth.
Coding and Marking Market Segment Analysis - By Geography
Asia-Pacific (APAC) dominated the Coding and Marking market in 2019 with a market share 36%, followed by Europe and APAC owing to the presence of large number of players. China is one of the major countries for manufacturing industry. The State Food and Drug Administration of China (SFDA) regulation major goal is to protect patients from counterfeit pharmaceuticals and traditional Chinese medicines. This regulation also involves assigning unique product identities ‘eCodes’ at different packaging units, a level of combination and verification through the drug electronic supervision system. According to The Korean Customs Service (KCS), South Korea has mandated the labeling and marking requirements for certain products, such as pharmaceuticals, organic food, functional food and food produced through biotechnology. Increasing adoption of packaged foods in food and beverage, Pharmaceutical industry has further propelled the market growth.
Coding and Marking Market Drivers
Adoption of advanced technologies
Adoption of advanced technologies such as automation, artificial intelligence in industries drive the market. Connected serialization equipment can alert operators to any issues or when actions are required at some point along the production line. Data uploaded to a cloud-based system can be presented on a remote device or main monitor on the production floor, helping operators to determine when any parameters are approaching poor condition, when consumables are running low, or if maintenance is required. Coding and marking printers could be automatically controlled using artificial intelligence (AI) in the cloud to resolve any issues and optimize their efficiency. Companies that are focusing on investment of industry 4.0 concepts, there is an opportunity to gain productivity improvement through the implementation of the newest coding and marking technology on the market. The coding and marking equipment can deliver simplification, standardization and efficiency, resulting in improvements in total cost of operation, thereby assists in driving the market.
Stringent Regulations
Stringent regulations across various governments pertaining to packaging and labelling have forced many packaging industries to adopt coding and marking equipment and this set to drive the market. In 2018, the Food Safety and Standards Authority of India (FSSAI) has mandated the labelling of allergens and vegetarian and non-vegetarian logos for packaged foods in the form of a barcode or a Global Trade Identification Number (GTIN). This regulation has mandated to display red color coding on front of the pack labels of packaged food products that have high fat, high sugar and high salt content levels. This kind of regulations has resulted in adoption of coding and marking equipment which set to push the market.
Coding and Marking Market Challenges
High Price
The price of coding and marking devices depend on its specifications such as level of technology integration, applications, size, and nature of consumables used. Due to this, a significant amount of variance is observed when it comes to the pricing of coding and marking machines. Therefore, high price of coding and marking machines restrict the adoption by price sensitive industrial users from emerging economies. Therefore, high price has been identified as a major restraint for the market growth.
Coding and Marking Market Landscape
Product launches, Acquisitions, Collaboration, and R&D activities are key strategies adopted by players in the Coding and Marking market. Coding and Marking top 10 companies include Danaher Corporation, Inkjet Inc, Diagraph Group, Matthews International Corporation, Dover Corporation, Overprint Packaging Ltd, Domino Printing Sciences Plc, ProMach Inc, ATD Ltd, Videojet Technologies Inc and others.
Acquisitions/Technology Launches
- In June 2020, Videojet Technologies Inc had launched its new Videojet 1280 CIJ printer which is easy to use and maintain. The printer continuously monitors environmental conditions and automatically adjusts jetting parameters in order to maintain superior print quality and to maximize uptime.
- In June 2020, Domino Printing Solutions had launched its first digital, highly automated ink jet-based product through a virtual launch event. This kind of advanced products increases the demand of the market.
- We also publish more than 100 reports every month in "Food and Beverage", Go through the Domain if there are any other areas for which you would like to get a market research study.
Comments
Post a Comment