P&S Market Research Identifies Top 5 Vendors In Global Coding
And Marking Market
The global Coding and Marking market is projected to reach
$5,310.5 million by 2023, growing at a CAGR of 9.4% during the
forecast period (2017 – 2023).
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As per the research, the global coding and marking market is expected to grow from
$2,879.9 million in 2016 to $5,310.5 million by 2023. The rapidly growing food and
beverages and healthcare industry especially in emerging economies of India, China,
Brazil is generating significant demand for coding and marking. Different software and
coders are designed to create a different mark for every product, which makes them
easy to track during transportation. The technically-advanced products are likely to
attract manufacturing and packaging companies thus fuel growth in the market. Modern
inkjet and laser coders are designed to carry a large amount of information such as lot
number, date code and sequential coding based on a unique serial number, which is
recorded in a secure database. Wide range of styles and character sizes can be used and
changed easily during the coding and marking process.
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As per the findings of research, the global coding and marking market has been
segmented into end-use, technology, and region. In 2016, coding market for food and
beverages accounted for the largest share in global coding and marking market. On the
other hand, continuous inkjet printer segment is expected to dominate the global
coding and marking market on the basis of technology. Additionally, the positive growth
in cosmetics, chemical and food and beverage industries is driving the packaging market
across the world, which is expected to support further growth in the coding and marking
market worldwide. Developing countries such as India, Brazil and China are contributing
largely towards the increase in demand for coding and marking machines worldwide
due to stringent government-regulations for packaging and rapid urbanization.
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Asia-Pacific and Europe were the major regions in the global coding and marking market
in 2016. The regions are expected to dominate the global market during the forecast
period. China, India, Japan and South Korea are witnessing significant increase in the use
of liquid packaging in food and beverages industry, which is driving the growth of coding
and marking market. Additionally, the growth in the pharmaceutical market in Asia-
Pacific has spurred growth in the pharmaceutical packaging and coding and market.
Growth in the disposable incomes of people in European countries, rise in demand for
convenience food and increasing awareness of packaged food among consumers drive
the growth of the European fresh food packaging market, which is supporting positive
growth in the European coding and marking market.
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marking-market
The coding and marking market is majorly dominated by tier 1 and tier 2 players having presence across the globe. Some of the major players involved include Danaher Corporation, ID Technology LLC, Inkjet, Inc., Hitachi Industrial Equipment Systems Co., Ltd., and Dover Corporation.
Partnership-collaboration and strategic new product launch have been the major recent developments in the global coding and marking market. For instance, Panasonic Electric Works U.K. agreed to jointly work with Overprint Packaging Ltd. for supplying and installing their range of Sunx Laser Marking Systems in April 2016. Further, in September 2016, ID Technology launched new ci5000 series range of CIJ printers. The model series includes the ci5200, ci5300, ci5500 and ci5650 models.
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