According to the latest report by IMARC Group, titled “Food and Beverages (F&B) Coding and Marking Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global food and beverages (F&B) coding and marking equipment market size reached US$ 1.7 Billion in 2018. F&B coding and marking equipment are used to generate markings on the packaging surface for providing product-specific information. These markings and codes, including QR codes, bar codes, 2D codes, and authentic markings, carry essential details such as the date of manufacturing and expiry, product ingredients, batch number, shelf life, nutritional information, potential allergens, industry certifications, and instructions for use. This data forms an irreplaceable component of the F&B industry as consumers use it to check the product freshness and usage instructions while it aids the retailers with stock rotation. Coding and marking are also employed by manufacturers to track consumer habits, which assists them in creating tailored marketing programs.
Global F&B Coding and Marking Equipment Market Trends:
Rapid urbanization, inflating disposable income levels and shifting dietary preferences of the majority of the working population have significantly contributed to the demand for packaged food and beverages as well as convenience and fast foods. Along with this, the incorporation of advanced coding and marking technologies by manufacturers is primarily driving the market growth. For instance, advanced coding solutions with integrated tracking systems are aiding companies in improving supply chain visibility and traceability. Furthermore, the rising inclination toward the adoption of sustainable and eco-friendly technologies is expected to create a positive outlook for the market. Several technological advancements and increasing research and development (R&D) are some of the other factors driving the market growth. On account of these factors, the market value is anticipated to exceed US$ 2.3 Billion by 2024, growing at a CAGR of 5.3% during 2019-2024.
- On the basis of the product type, the market has been bifurcated into primary and secondary packaging coding, wherein primary packaging coding is the most preferred product type.
- Based on the technology, continuous inkjet exhibits a clear dominance in the market. Other major segments include thermal transfer overprinting, print and apply labeling machine, piezoelectric, valve, laser and thermal inkjets.
- On the basis of application, the market has been divided into the food and beverage industries.
- On the geographical front, the market has been classified into Europe, Asia Pacific, North America, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been analyzed with the details of the key players operating in the market. Some of them include Danaher Corporation, Domino Printing Sciences plc, Hitachi Global, Diagraph Corporation, ID Technology, Superior Case Coding, Inc., Universal Labeling Systems, SATO America, Durable Technologies, JanTech Marking Equipment, Brother Industries, Ltd., Dover Corporation and Illinois Tool Works Inc.
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