Market Trends of Global Coding and Marking Solutions Industry
This section covers the major market trends shaping the Coding & Marking Solutions Market according to our research experts:
Food and Beverage Industry is Analyzed To Hold Highest Share
- Food packaging is increasingly using coding and marking methods to label the products. Food manufacturers are utilizing high-resolution coding and marking to identify the necessary information on packaged food goods as the demand for food quality and safety has risen worldwide. Regulatory requirements for the food and beverage industry addressing information display and labeling present a valuable potential for coding and marking system manufacturers. The acceptance and awareness of such high-quality codes and marks to quickly and efficiently print information on food goods boosts industry growth.
- Manufacturers in the high-speed, high-output beverage business are dealing with changing customer behavior that may influence operational efficiency. PET bottles are being phased out in favor of containers made of different materials, such as totally recyclable aluminum. Beverage companies are responding by modernizing their packaging processes and coding and labeling systems.
- The growing product innovation to meet the sector's demand further bolstered the market growth rate. For instance, in January 2022, Markem-Imaje introduced the new 5940 G Touch Dry high-resolution inkjet coder. The GS1-128-compliant system meets increasing industry demands for high-resolution barcodes, logos, and text on corrugated packaging without the overpriced expense of labels. It also eliminates the necessity for corrugated packaging that has been pre-printed. The 5940 G prints highly scannable barcodes on corrugated cases and trays of fresh fruit, beverages, meats, confections, and many other goods, as well as precision printing on polystyrene for frozen foods and shrink wrap for pallet shipping, and is suitable for a wide range of materials.
- In March 2022, Domino Digital Printing Solutions stated that the company had seen significant investment by label converters into adding variable data printing of tracking codes onto labels for online retail supply chain requirements, fueled by the ongoing trend to track more products through the supply chain, which has been boosted by significant Covid-19 related online retail sales growth.
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Asia-Pacific is Expected to Register the Fastest Growth Rate
- Europe is one of the significant markets for coding and marking systems due to the existence of some of the world's stringent regulatory agencies for the food and beverage industry and the presence of some of the world's largest pharmaceutical firms. On the other hand, Asia-Pacific is expected to grow at the fastest rate during the forecast period. This is due to the region's rising need for coding and marking systems. The Asia-Pacific region dominates the coding and marking systems market, with China leading the way in terms of R&D spending and adoption of high-technology coding and marking systems.
- The primary objective of the Chinese State Food and Drug Administration's (SFDA) regulations is to safeguard people from counterfeit pharmaceuticals and traditional Chinese medicines. This regulation also mandates the assignment of unique product identifiers known as 'eCodes' at various packaging units and a level of combination and verification through the drug electronic supervision system.
- South Korea has also mandated labeling and marking requirements for certain products, such as pharmaceuticals, organic food, functional food, and food produced through biotechnology, according to the Korean Customs Service (KCS). The pharmaceutical business has fueled market expansion by increasing the consumption of packaged meals in food and beverage.
- In April 2021, Linx Printing Technologies introduced a MEK-free, alcohol-resistant ink that complies with the Japan Ethanol Business Act and the Japan Organic Solvent Law. Linx Black 3085 alcohol-resistant ink is developed for use in food and beverage industry applications where packaging and containers are exposed to alcohol during processing.
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