Dublin, Oct. 20, 2022 (GLOBE NEWSWIRE) -- The "Coding and Marking Market - Global Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
Coding & marking equipment is used to print product-specific details on the outer covering of a product. These details aim to provide end-users and manufacturers with authentic information about the product. Coding includes printing manufacturing dates, expiry dates, and the size of the packaged lot, among other details.
Printing codes or marks on products help manufacturers reduce the risk of counterfeiting and protect the brand image among end-users. Coding or marking is essential to establish the authenticity of products. It helps inform the supply chain about the product information and its destination. It sets a unique identity to the product and enhances its traceability. Previously, the coding procedure was done manually, which was labor-intensive and prone to errors.
After the advent of highly reliable coding and marking machinery, it was largely adopted by companies across varied industries. The global coding and marking equipment market is expected to witness a boom in the future years.
Market Dynamics
- The global coding and marking equipment market has witnessed significant transformations over the last decade, largely due to various innovations, regulatory standard modifications, growth of end-user industries, integration of automation in production, and the influx of vendors across geographies. Coding & marking solutions are handy for several reasons, such as product tracking & traceability, identification, and tackling counterfeiting. With the growth across end-user industries such as F&B, healthcare, chemicals & construction, electrical & electronics, and automotive, the increase in product proliferation has become common. This has further led to managing a diverse inventory range in the best possible manner.
- The global coding and marking equipment market is growing at a steady pace worldwide. The CIJ technology dominated the market in 2021. Nevertheless, the increased popularity of TIJ and laser technologies give tough competition to CIJ technology. Also, laser and TIJ are competing worldwide. Further, the overall market growth is highly correlated with the growth of the global packaging industry. Since the global packaging industry is growing at a steady rate of approximately 5% annually, the global coding & marking market is also experiencing constant growth. The increasing instances of product counterfeiting and government regulations that mandate the printing of product-specific information on packets are fueling the demand for coding & marking solutions and driving the market growth worldwide.
Key Industry Insights:
1. Developing eco-friendly marking systems is a major trend in the global coding and marking market. Patents such as EP0700793A2 and EP0565235A2 have been developed for biodegradable resin-based marking devices.
2. Technologies that use environment-friendly printing techniques are being developed to counter the harmful effects on the environment. One such example is the SMARKTEC marking system developed by REA Elektronik.
3. The stringent government regulations and standards are driving the use of barcodes on products to specify specific information. In addition, various countries' governments have introduced regulations on printing product-specific data on products and packaged goods.
4. The requirement to include specific details of manufacturing and packaging data, lot number, and expiry has fueled the market growth. These regulations help end-users identify authentic products and reduce the penetration of counterfeits in the market. Thus, the formulation of stringent regulations and standards is forcing manufacturers to adopt coding & marking services, which is expected to boost the overall market growth during the forecast period significantly.
5. The need for continued support and upgrades is a challenge for vendors in the global coding & marking market. Worldwide technological advancements have made it mandatory for periodic upgrades. The absence of continual improvements in coding products might lead to the product being graded as obsolete.
6. The vendors offer equipment and accessories with almost identical quality to end-users at a competitive price, which creates intense competition among vendors. Furthermore, customers prefer familiar market vendors because of the ease of accessibility and cost advantage.
Impact of COVID-19
- The impact of COVID-19 on the overall economy was swift and substantial. The initial estimation was a slight interruption in the export and imports with respect to China. However, with the increasing number of COVID cases in China, the situation escalated to a full-blown trade stoppage, with manufacturing industries coming to a complete halt. The closures of many assembly plants led to economic distress and increased default risk. Moreover, the second wave of Coronavirus across Europe, India, and others have further disrupted the global economy and production in end-user industries and has raised trade concerns.
Opportunities & Challenge Analysis
Growing Demand for Laser Coding
- Laser coding is one of the recent developments in the global coding & marking market. This technology has witnessed a sharp rise in demand, largely due to its properties and feasibility across a wide range of end-user industry applications. For instance, laser coding solutions are growing in popularity across end-user industries such as cosmetics, personal care, F&B, and automotive, among others. A key reason for this growth in popularity is the ability of laser coding to remain permanent and of high quality than its peer coding & marking solutions.
Rising Demand for Traceability by End-users
- Manufacturing across various sectors has witnessed a considerable transformation over the last few years owing to the rising technological integration. This has raised standards and increased the expectation levels across sectors. A manufacturing brand thus must ensure that its product, once released post-production stage, functions in the intended creative manner throughout its life. The scope for errors has risen substantially across industries due to the constant demand for producing within a short period and having on-demand production procedures. This has further given rise to instances of product recalls across various industries.
Operational Errors & High Costs
- Errors due to human negligence or mistake can often dent the profits of manufacturers and market vendors. Humans are considered accountable for more than 69% of product coding errors. This is a major challenge across end-user industries that manufacturers consistently focus on. Often, large-scale manufacturing companies have people working in shifts, which increases human-machine interaction. This tends to raise the scope of errors due to the time needed to master the printing machine process. Also, this denies companies the time and resources they could have utilized elsewhere.
Key Questions Answered:
1. What will be the global coding and marking market size in 2027?
2. What is the growth rate of the global coding and marking market?
3. Who are the key players in the global coding and marking market?
4. What are the factors driving the growth of the global coding and marking market?
5. Which region is projected to have the highest growth rate in terms of revenue generated from the global coding and marking market?
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Premium Insights
7.1 Market Definition
7.2 Market Dynamics
7.3 Key Insights
7.4 Covid-19 Impact Analysis
7.5 Opportunities & Challenge Analysis
7.6 Segment Analysis
7.7 Geographical Analysis
7.8 Competitive Landscape
7.9 Frequently Asked Questions
8 Introduction
9 Market Opportunities & Trends
9.1 Leveraging Exhibitions, Expos & Trade Platforms
9.2 Growing Demand for Laser Coding
9.3 Advent of Industry 4.0
9.4 Evolving Secondary Packaging Market
9.5 Innovative Consumables Offerings
10 Market Growth Enablers
10.1 Rising Demand for Traceability by End-Users
10.2 Significant Rise in Flexible Packaging
10.3 Rising Applications Across End-User Industries
10.4 Rising Demand from Healthcare Industry
10.5 Increasing Demand for Processed & Packaged Food
11 Market Restraints
11.1 Increasing Product Counterfeiting
11.2 Operational Errors & High Cost
11.3 Slow Economic Growth in 2020
11.4 Trade Conflicts Between Us & China
12 Market Landscape
12.1 Market Overview
12.1.1 Key Insights
12.2 Type of Packaging
12.2.1 Primary Packaging
12.2.2 Secondary Packaging
12.2.3 Tertiary Packaging
12.3 Material Insights
12.3.1 Plastic
12.3.2 Paper & Cardboard
12.3.3 Paper & Cardboard Industry Insights
12.3.4 Metal
12.3.5 Other Applications
12.4 Historical Data
12.5 Market Size & Forecast (2021-2027)
12.6 Market Size & Forecast 2017-2027
12.7 Five Forces Analysis
13 End-User
14 Technology
15 Product Mix
16 Geography
17 APAC
18 North America
19 Western Europe
20 Latin America
21 Middle East & Africa
22 Central & Eastern Europe
23 Competitive Landscape
23.1 Competition Overview
23.2 Competitive Scenario Post-Covid-19 Outbreak
24 Key Company Profiles
24.1 Danaher
24.1.1 Business Overview
24.1.2 Product Offerings
24.1.3 Key Strategies
24.1.4 Key Strengths
24.1.5 Key Opportunities
24.2 Dover
24.2.1 Business Overview
24.2.2 Product Offerings
24.2.3 Key Strategies
24.2.4 Key Strengths
24.2.5 Key Opportunities
24.3 Brother Industries
24.3.1 Business Overview
24.3.2 Product Offerings
24.3.3 Key Strategies
24.3.4 Key Strengths
24.3.5 Key Opportunities
24.4 Hitachi Industrial Equipment Systems
24.4.1 Business Overview
24.4.2 Product Offerings
24.4.3 Key Strategies
24.4.4 Key Strengths
24.4.5 Key Opportunities
24.5 Itw
24.5.1 Business Overview
24.5.2 Product Offerings
24.5.3 Key Strategies
24.5.4 Key Strengths
24.5.5 Key Opportunities
25 Other Prominent Vendors
25.1 Anser Coding
25.1.1 Business Overview
25.1.2 Product Offerings
25.1.3 Key Strategies
25.2 Beijing Hi-Pack Coding
25.2.1 Business Overview
25.2.2 Product Offerings
25.2.3 Key Strategies
25.3 Control Print
25.3.1 Business Overview
25.3.2 Product Offerings
25.3.3 Key Strategies
25.4 Ebs Ink-Jet Systeme
25.4.1 Business Overview
25.4.2 Product Offerings
25.4.3 Key Strategies
25.5 Guangzhou Ec-Pack Packaging Equipment
25.5.1 Business Overview
25.5.2 Product Offerings
25.5.3 Key Strategies
25.6 Iconotech
25.6.1 Business Overview
25.6.2 Product Offerings
25.6.3 Key Strategies
25.7 Id Technology
25.7.1 Business Overview
25.7.2 Product Offerings
25.7.3 Key Strategies
25.8 Inkjet
25.8.1 Business Overview
25.8.2 Product Offerings
25.8.3 Key Strategies
25.9 Keyence
25.9.1 Business Overview
25.9.2 Product Offerings
25.9.3 Key Strategies
25.10 Koenig & Bauer Coding
25.10.1 Business Overview
25.10.2 Product Offerings
25.10.3 Key Strategies
25.11 Kortho Coding & Marking
25.11.1 Business Overview
25.11.2 Product Offerings
25.11.3 Key Strategies
25.12 Laserax
25.12.1 Business Overview
25.12.2 Product Offerings
25.12.3 Key Strategies
25.13 Macsa Id
25.13.1 Business Overview
25.13.2 Product Offerings
25.13.3 Key Strategies
25.14 Matthews International
25.14.1 Business Overview
25.14.2 Product Offerings
25.14.3 Key Strategies
25.15 Paul Leibinger
25.15.1 Business Overview
25.15.2 Product Offerings
25.15.3 Key Strategies
25.16 Rea Elektronik
25.16.1 Business Overview
25.16.2 Product Offerings
25.16.3 Key Strategies
25.17 Sato Holdings
25.17.1 Business Overview
25.17.2 Product Offerings
25.17.3 Key Strategies
25.18 Squid Ink
25.18.1 Business Overview
25.18.2 Product Offerings
25.18.3 Key Strategies
25.19 Weber Marking Systems
25.19.1 Business Overview
25.19.2 Product Offerings
25.19.3 Key Strategies
25.20 Xaar
25.20.1 Business Overview
25.20.2 Product Offerings
25.20.3 Key Strategies
25.21 Zanasi
25.21.1 Business Overview
25.21.2 Product Offerings
25.21.3 Key Strategies
26 Report Summary
27 Quantitative Summary
28 APAC
29 North America
30 Western Europe
31 Latin America
32 Middle East & Africa
33 Central & Eastern Europe
34 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/rrsys9
