Coding and Marking Market Overview
The Coding and Marking market has been garnering huge attention in the recent years due to the stringent governmental regulations concerning the labeling requirements of food products. Coding and marking find several applications in various end user industries including automotive, aerospace, and healthcare, and others. The global coding and marking market is estimated to grow at a CAGR of 5.4% during the forecast period 2018–2024. The rest of the world (RoW), which includes the Middle East and African countries, is forecast to be the fastest growing market with a CAGR of 7.8% during the forecast period. The growth of the RoW coding and marking market can be mainly attributed to the increased penetration of coding and marking in the food and pharmaceutical industries in this region.
Coding and Marking Market Outlook
Coding and Marking is the method of printing of various information and data on different surfaces. Coding and marking systems are used to print on products to communicate credible data to clients and manufacturers. For example, a packaged product contains various codes and markings such as best-before, lot dates, international article number (EAN), data matrix barcodes, and various unique identifiers. These codes and markings help ensure traceability and safety of the product, and mitigate counterfeiting.
The coding and marking market is segmented based on the technology type, material, color of material, application, end use industry, and geography. Coding and marking can be done using various technologies available in the market, which include continuous inkjet, thermal transfer overprinting, laser coding, thermal inkjet, piezo drop on demand, and others. According to IndustryARC findings, the continuous inkjet is the major technology type and will hold the largest market share during the forecast period. Continuous inkjets is a non-contact printing technology that is suitable for printing on any substrate. The hassle-free printing process of continuous printers has resulted in the increasing popularity of this method in industrial coding applications. The coding and marking market report also entails a pricing analysis for the different coding technologies.
Coding and Marking Market Growth Drivers
The market is majorly driven by the increased need for the traceability of products in several industries. Other factors such as increased food safety and logistics concerns and technological advancements are also surging the growth of the market.
Coding and Marking Market Challenges
The availability of counterfeit coding equipment and inks is hindering the growth of the market. The difficulties associated with upgradation of coding systems and volatility of the industry standards for coding and marking are also affecting the market adversely.
Coding and Marking Market Research Scope
The base year of the study is 2017, with forecast done up to 2024. 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 key areas of focus include the types of coding and marking technologies, and their specific applications in different end user industries.
Coding and Marking Market Report: Industry Coverage
Technologies of Coding: Continuous inkjet, laser coding, direct thermal coding, thermal inkjet, thermal transfer overprinting, piezo drop on demand and others
Applications of Coding: Direct printing including primary coding, secondary coding and tertiary coding, barcode label printing
End User Industries of Coding: Healthcare and pharmaceuticals, consumer products, electronics, instruments and machinery, automotive, aerospace, chemicals and materials, and others
Usage of coding and marking in the Food Industry
Coding and marking is used extensively in the food industry right from production to the end supply of food products. The applications range from printing on packaging materials to direct printing on food products.
The coding and marking market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- The Americas: The U.S., Canada, Mexico, Brazil
- Europe: The U.K., Germany, Italy, Russia
- APAC: China, India
- RoW: The Middle East and Africa