According to a report from December 2021 by Grand View Research Inc, the global Coding and Marking equipment market is expected to reach a value of 22.1 Billion USD by 2028. The main point found to be affecting this rising trend is a growing health consciousness among consumers. This increasing preference for properly labeled food and beverage is encouraging manufacturers to implement coding and marking solutions into their production lines.
- Consumers want to know where their food is coming from; they want to understand exactly what it is that they’re consuming, who produced it and when. With apps to read QR and Data Matrix codes right on your smartphone, this information has never been so readily accessible for the consumer.
- The pharmaceutical segment is also expected to expand significantly over the forecasted period. Coding and marking equipment plays a vital role in providing proper labeling and packaging solutions to manufacturers in this industry, which is another driving factor in the growth of the market. Pharmaceutical companies rely on track and trace technologies such as QR or Data Matrix codes, and there is no easier (or cost effective) way to implement these than direct printing via CIJ or TIJ machines.
- Stringent government regulations regarding appropriate labeling of finished products are yet another reason why track and trace practices are becoming more widespread across multiple industries. Government efforts to battle brand piracy and counterfeiting are forecasted to play a major role in driving the growth of the marking and coding industry in the Asia Pacific regional market.
“Stringent regulations across various governments pertaining to packaging and labelling have forced many packaging industries to adopt coding and marking equipment and this set to drive the market. In 2018, the Food Safety and Standards Authority of India (FSSAI) has mandated the labelling of allergens and vegetarian and non-vegetarian logos for packaged foods in the form of a barcode or a Global Trade Identification Number (GTIN). This regulation has mandated to display red color coding on front of the pack labels of packaged food products that have high fat, high sugar and high salt content levels. This kind of regulations has resulted in adoption of coding and marking equipment which set to push the market.”IndustryARC™. (n.d.). Coding and marking market research report: Market Size, industry outlook, Market Forecast, demand analysis,market share, market report 2020 – 2025. IndustryARC. Retrieved April 6, 2022, from https://www.industryarc.com/Report/18137/coding-marking-market.html#:~:text=Coding%20and%20Marking%20Market%20size,this%20drives%20the%20market%20growth
- Adoption of advanced technologies such as automation and artificial intelligence technologies in industries is also poised to propel the market growth. Serialization equipment utilizing printed QR or Data Matrix codes can alert operators to any issues or if action is required at some point along the production line or distribution chain.
“Data uploaded to a cloud-based system can be presented on a remote device or main monitor on the production floor, helping operators to determine when any parameters are approaching poor condition, when consumables are running low, or if maintenance is required. Coding and marking printers could be automatically controlled using artificial intelligence (AI) in the cloud to resolve any issues and optimize their efficiency. Companies that are focusing on investment of industry 4.0 concepts, there is an opportunity to gain productivity improvement through the implementation of the newest coding and marking technology on the market. The coding and marking equipment can deliver simplification, standardization and efficiency, resulting in improvements in total cost of operation, thereby assists in driving the market.”IndustryARC™. (n.d.). Coding and marking market research report: Market Size, industry outlook, Market Forecast, demand analysis,market share, market report 2020 – 2025. IndustryARC. Retrieved April 6, 2022, from https://www.industryarc.com/Report/18137/coding-marking-market.html#:~:text=Coding%20and%20Marking%20Market%20size,this%20drives%20the%20market%20growth
According to these findings, it seems that the marking and coding industry is on the up and up! For manufacturers big or small, these machines can simplify your production and help you keep up with rapidly changing demands and regulations.
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