The Global Coding and Marking Systems and Solutions Market is Projected to Reach US$5.3 Billion by 2024

Increasing Focus on Product Traceability & Rising Concerns over Counterfeiting to Drive Growth in the Coding & Marking Systems and Solutions Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Coding and Marking Systems and Solutions market. The global Coding and Marking Systems and Solutions market is projected to reach US$5.3 billion by 2024, driven by the increasing focus of brands and suppliers on ensuring product traceability, preventing counterfeiting. The need to comply with stringent regulatory requirements and industry standards on coding and marking is also fueling market growth.

Coding and marking forms an important part of the manufacturing process and intralogistics of packaged consumer and industrial goods. Used to print product-related details, such as manufacturing date, batch number, and expiry date among others, on the product’s packaging, coding and marking systems are designed to provide authentic product information to consumers, protecting brands against counterfeit products, and streamlining the logistics process. Coding and marking is also essential to provide information to the supply chain about the product’s destination and ensuring its traceability through the use of a unique identity.

Driven by the positive outlook in the retail sector, escalating demand from major end-use industries of food and beverage, cosmetic, chemical, pharmaceutical, and construction and building material sectors, global market for coding and marking systems and solutions is growing at a stable rate. The increasing use of coding and marking systems for batch numbers, government identification codes, and printing labels among others on both primary and secondary packaging materials across end-use industries such as automotive, healthcare, chemical, constructing, semiconductor and electronics, and food and beverage among others presents considerable growth opportunities for the market. In addition, end-use industry trends such as increase in code content, diversity in product range, and the need to optimize time at manufacturing facilities is paving the way for the development of coding and marking technologies that make alterations simpler. As the manufacturing industry moves towards embracing the Industry 4.0 concept, coding and marking systems manufacturers are focusing on building intelligence into their systems. Growing focus of vendors on protecting brand and product identity and the increasing emphasis of manufacturers on printing product-related information on packaging materials of their goods in order to protect end-user interest and prevent counterfeiting are also propelling the coding and marking market.

The increasing pressure from legislative requirements and industry standards for consistent and reliable coding and marking on manufactured products is creating a highly conducive environment for the market. Besides the need to adhere to regulatory requirements, traceability through coding and marking is aimed at ensuring internal quality control. By adhering to specifications of various regulatory bodies, coding and marking system makers can also reduce VOC (volatile organic compound) emissions and cut down the use of harmful solvents such as MEK (methyl ethyl ketone). Coding and marking systems market worldwide is also being influenced by the increasing awareness among end-users about the advantages offered by eco-friendly printing materials and technologies and the growing pressure being placed by environmental protection agencies on industries to enhance sustainability. With eco-friendly marking systems rising in significance, there is increased focus on gaining patents for marking devices using biodegradable resins.

As stated by the new market research report on Coding and Marking Systems and Solutions, Asia-Pacific represents the largest market worldwide. The region is also forecast to register the fastest CAGR of 6.7% over the analysis period. Growth in the region is being spurred by the surging demand from various end-use industries specifically food and beverage, cosmetic and pharmaceutical sectors. The increasing efforts of several regional governments to implement legislations to curb the growing menace of piracy and counterfeiting also translate into promising opportunities for the market. Strict packaging industry norms pertaining to the display of batch and code number and manufacturing date on product’s packaging, specifically in food and beverage, pharmaceutical, and agricultural products sectors, are expected to stimulate coding and marking systems market in the region.

Major players in the market include Domino Printing Sciences plc, Hitachi Industrial Equipment Systems Co Ltd., Iconotech, InkJet Inc., Linx Printing Technologies Ltd, Markem-Imaje SAS, Matthews Marking Systems, Paul Leibinger GmbH & Co. KG, ProMach Inc., Greydon, ID Technology LLC, REA Elektronik GmbH, SATO Labeling Solutions America Inc., Universal Labeling Systems Inc., and Videojet Technologies Inc., among others.

The research report titled “Coding and Marking Systems and Solutions: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea and Rest of Asia-Pacific), Middle East & Africa and Latin America. The global market for Coding and Marking Systems and Solutions is additionally analyzed by following technology types – Laser, Thermal Transfer Overprinting, Continuous Inkjet, Print & Apply Labelling and Others.

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