Coding and Marking Systems Industry Survey, Market Size, Competitive Trends Forecast

The increasing use of coding and marking systems for printing batch numbers, government identification codes, and other details on primary and secondary packaging in industries such as automotive, food & beverages (F&B), healthcare, electronics, and construction is driving the growth of the global coding and marking systems market. In 2017, the market generated a revenue of $3,358.0 million, and it is predicted to exhibit a 6.9% CAGR during the forecast period (2018–2023). These systems provide goods details on the packaging and help in identifying and tracking components through the production process.

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Based on technology, the coding and marking systems market is broadly categorized into continuous inkjet, drop on demand, thermal ink jet, and thermal transfer overprinting. Out of these, in 2017, the continuous inkjet category dominated the market with a revenue contribution of more than 30.0%, and it is anticipated to continue dominating it during the 2018–2023 period. This is ascribed to the several benefits associated with these printers, such as high-speed printing, long operational hours with minimum servicing, cost effectiveness, and the ability to work on any material.

Further, based on end user, the coding and marking systems market is mainly classified into automotive & aerospace, chemical, healthcare, electrical & electronics, and F&B. Among these, in 2017, the F&B classification led the market with a revenue contribution of over 30.0%, and it is predicted to continue leading it during the forecast period. Strict government regulations pertaining to safety and traceability have forced manufacturers to properly put the manufacturing date, ingredient list, nutritional facts, and manufacturer details on the primary and secondary packaging of food products.

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Due to the heavy consumption of packaged food, the F&B industry is the largest market for such systems. The growing sales of packaged foods, fruit juices, bottled water, and tetra milk packets are boosting the F&B sector. As per the 2016 Food Packaging Trends and Advances report by the Association for Packaging and Processing Technologies, the U.S. F&B domain is expected to grow at a CAGR of 2.9% by 2022. In addition, the expanding pharmaceuticals domain is another factor behind the coding and marking systems market growth.

This is ascribed to various reasons, such as the increasing awareness among manufacturers on the benefits of providing drug details on the packaging, growing penetration of blister packaging, and constant product development in terms of special packaging. Besides, the rising transnational shipment of medical devices and drugs has escalated the use of packaging to decrease lost-in-transit cases and ensure the safety of products. Coding and marking are a significant part of the pharmaceuticals packaging process; therefore, the progress of the domain is expected to drive the coding and marking systems market. 

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The printing materials used in these systems, in the European Union, are subject to the policies designed by the Registration, Evaluation, Authorization and Restriction of Chemicals committee and Restriction of Hazardous Substances Directive. These policies are impelling manufacturers to develop inks with reduced methyl ethyl ketone and volatile organic compound content. The market is thus observing a trend of eco-friendly printing inks that are designed to lessen the damage to the environment.

Thus, the increasing application of coding and marking systems in the F&B and pharmaceutical domains is anticipated to strengthen the market during the forecast period.

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Created on Sep 11th 2019 08:05. Viewed 369 times.

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