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.
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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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