Arizton Advisory and Intelligence
The coding and marking in food and beverage market is expected to grow at a CAGR of over 7% during the period 2018−2024
The coding and marking in food and beverages market in APAC is expected to witness rapid growth by 2024”
— Abby, Sr Consultant
CHICAGO, IL, UNITED STATES, October 31, 2019 /EINPresswire.com/ — Arizton's recent market study on the coding and marking in the food and beverage market covers a detailed overview of market growth enablers, restraints, and trends. The study includes insights on segmentation by technology type (continuous inkjet coding (CIJ), laser, thermal transfer overprinters (TTO), thermal inkjet printers (TIJ), piezo inkjet (PIJ), valve inkjet (VIJ), print and apply label machines (PALM)), product mix (equipment, consumables and spare part and aftermarket), and geography (APAC, MEA, North America, Latin America, and Europe). The report covers both the demand and supply aspects of the market. The study profiles and examines leading companies and other prominent companies operating in the market.
Growing Instances of Product Recalls, increasing demand for product transparency, leverage diverse trade platforms, strategic collaboration are the factors that are likely to contribute to the growth of the coding and marking in the food and beverage market during the forecast period.
Adherence to regulatory standards plays a vital role in coding and marking solutions in the food and beverage market. Regions have their own set of standards with regard to the regulatory environment for coding and marking. For instance, EU countries have their set standards to follow while marking up of food products. Similarly, the US follows guidelines set by the USFDA. Hence, stringent government regulations are driving the use of specific solutions. Besides, these regulations help end-users to identify authentic products and reduce the penetration of counterfeits in the market. Thus, the formulation of stringent regulations and standards is driving manufacturers to adopt coding and marking services, which is expected to boost the overall market growth during the forecast period significantly.
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The market research report includes detailed market segmentation by technology, product mix, and geography. The global coding and marking in the food and beverage market comprises several technology printers such as CIJ, Laser, VIJ, PIJ, TTO, TIJ, and PALM. In 2018, the CIJ segment accounted for over 40% share of the global market, followed by laser, PALM, TTO, PIJ, VIJ, and TIJ segments. The laser and CIJ technology segments are expected to increase their market shares during the forecast period. Lasers systems are free of consumables such as ink; hence, they have low maintenance. Also, the TTO segment will witness high CAGR as TTO systems do not require solvents or ink bottles, ensuring a standard printing process that is cost-effective. The PIJ segment is likely to grow at a reasonable CAGR during the forecast period due to high technical aspects.
The consumables segment dominates the global coding and marking in the food and beverage market. Food and beverages are highly dependent on the usage of coding and marking applications. The growth in the food and beverage industry has fueled the need for better quality inks in the market, thereby driving the market. However, there have been several innovations that are driving the growth. Adherence to industry standards, policies, and regulations remains highly crucial for coding and marking ink manufacturers catering to the food and beverage industry. Hence, stringency in regulations is expected to drive the market.
Market Segmentation by Product Mix
• Spare parts and Aftermarkets
Market Segmentation by Technology Type
Coding and Marking in Food and Beverage Market: Geography
In 2018, APAC dominated the global coding and marking in food and beverage market and followed by Europe and North America. Latin America and Middle East & Africa accounted for small market shares in 2018. Urbanization in the APAC region is expected to bolster demand for food & beverage products, thereby driving the demand for coding and marking in the food and beverage market during the forecast period. While Japan and China are the major markets, countries such as India are expected to witness high demand due to improving the quality of life. The market in Europe is mature. Hence, the growth rate is comparatively less than the global market. The food & beverage processing industry is the largest manufacturing industry in Eastern & Central Europe. The sale of beverage grew by 9.1% during the period 2012–2017, while the demand for beverage packaging increased by 8% during the same period. The North American market is highly developed and has several large multinational manufacturing companies operating in the food & beverage industry. The food & beverage industry has coding and marking requirements to label manufactured products. Key factors that are increasing the market growth include regulations and industry mandates.
Market Segmentation by Geography
• North America
• Middle East & Africa
o South Africa
o Saudi Arabia
• Latin America
Key Vendors Analysis
The global coding and marking in food and beverage market is highly fragmented. On the one hand, there are global players providing coding and marking devices with high functionalities and designs. All key companies have a global presence in three major geographical regions such as North America, APAC, and Europe. However, there are local vendors providing products with similar specifications at lower prices. CIJ systems provided by local vendors are priced 6–7% less than by global vendors. However, products of local vendors would deliver low performance than global vendors. This has intensified price wars among vendors. The market is facing the threat of infiltration with low-quality products. This is countered by innovative efforts taken by few companies to provide authentic solutions. The adoption rate of coding and marking services in the food and beverages industry has been impressive. As a result of increased demand, the market has witnessed the entry of many vendors that provide equipment at a low price. The competition has intensified, leading to the introduction of many innovative and advanced solutions in the market.
• Brother Industries
• Hitachi Industrial Equipment Systems
Other Prominent Vendors
• ANSER Coding
• Beijing Hi-Pack Coding
• Control Print
• EBS Elektronische Beschriftungs-Systeme GmbH (EBS Ink-Jet Systeme)
• Guangzhou EC-Pack Packaging Equipment
• ID Technology
• InkJet Inc.
• Koenig & Bauer AG
• Kortho Coding and Marking
• Linx Printing Technologies
• Macsa ID
• Matthews International
• Paul Leibinger
• REA Elektronik
• SATO Holdings
• Squid Ink
• Weber Marking Systems
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Key Market Insights
The report provides the following insights into the coding and marking in food and beverage market for the forecast period 2019–2024.
• Offers market sizing and growth prospects of the coding and marking in food and beverage market for the forecast period 2019–2024.
• Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the market.
• Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of market segments and the regional outlook of the market.
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the market.
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Source: EIN Presswire