DUBLIN--(BUSINESS WIRE)--The "Coding and Marking in Food & Beverages Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The Coding and Marking in Food and Beverage Market is Expected to Grow at a CAGR of Over 7% During the Period 2018-2024
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 about 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.
Coding and Marking in Food and Beverage Market: Segmentation
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.
Coding and Marking in Food and Beverage Market: Geography
In 2018, APAC dominated the global coding and marking in the 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.
Key Vendors Analysis
The global coding and marking in the 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 beverage 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.
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the Study
4.4 Market Segments
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at A Glance
8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Rising Instances of Product Recalls
8.1.2 High Demand for Product Transparency
8.1.3 Upswing in Flexible Packaging
8.1.4 Regulations Driving Adoption across End-users
8.2 Market Growth Restraints
8.2.1 Efficiency Hurdles for Beverage Manufacturers
8.2.2 Volatility in Raw Material Costs
8.2.3 Operational Errors & High Costs
8.3 Market Opportunities & Trends
8.3.1 Leverage Diverse Trade Platforms
8.3.2 Strategic Collaborations: The Way Ahead
8.3.3 Capitalizing on Laser Coding Potential
8.3.4 Evolving Secondary Packaging Demand
9 Value Chain Analysis
9.1 Value Chain Overview
9.1.1 Stakeholders as Driving Forces
9.2 Value Chain Analysis
10 Market Landscape
10.1 Market Overview
10.2 Market Size & Forecast
10.3 Markey By Package Coding
10.4 Porter's Five Forces Analysis
11 By Technology Segmentation
11.1 Market Snapshot & Growth Engine
11.2 Market Overview
11.3 CIJ Technology
11.4 LASER Technology
11.5 PALM Technology
11.6 TTO Technology
11.7 PIJ Technology
11.8 VIJ Technology
11.9 TIJ Technology
12 By Product Mix
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Market Size & Forecast
13 By Geography
13.1 Market Snapshot & Growth Engine
16 North America
17 Latin America
18 Middle East & Africa
19 Competitive Landscape
19.1 Competition Overview
20 Market Vendor Analysis
21 Key Company Profiles
21.1.1 Business Overview
21.1.2 Major Product Offerings
21.1.3 Key Strengths
21.1.4 Key Strategies
21.1.5 Key Opportunities
21.3 Brother Industries
21.4 Hitachi Industrial Equipment Systems
22 Other Prominent Vendors
22.1 Anser Coding
22.1.1 Business Overview
22.1.2 Product Offerings
22.1.3 Key Strategies
22.2 Beijing Hi-Pack Coding
22.3 Control Print
22.4 EBS INK-JET Systeme
22.5 Guangzhou EC-PACK Packaging Equipment
22.7 ID Technology
22.8 InkJet Inc.
22.10 Koenig & Bauer Coding
22.11 Kortho Coding & Marking
22.12 Linx Printing Technologies
22.13 Macsa ID
22.14 Matthews International
22.15 Paul Leibinger
22.16 REA Elektronik
22.17 SATO Holdings
22.18 Squid Ink
22.19 Weber Marking Systems
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