The Asia-Pacific coding and marking systems market is predicted to grow at 8.4% CAGR during the forecast period with the market size reaching USD 2,140.3 million by 2024. The market is driven by factors such as increasing food and beverage industry, increasing retail industry, increasing pharmaceutical industry, strict government regulations towards marking information on the food and beverage products.
The increasing sale of processed foods, packaged snacks, non-alcoholic beverages, dairy items, and processed food is enhancing the demand for packaged food and beverage sector in the Asia-Pacific. Additionally, this sector is observed to be the major consumer of coding and marking systems and as a result, increasing demand for packaged products in the region is extensively contributing towards the growth of the Asia-Pacific coding and marking systems market.
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Based on technology, the coding and marking systems market is categorized into continuous inkjet, thermal transfer overprinting, thermal inkjet, drop on demand, print & apply labelers, laser coding & marking, and valve jet & hot melt inkjet, of which continuous inkjet held the largest share in the Asia-Pacific coding and marking systems market.
On the basis of end user, the coding and marking systems market is categorized into food and beverages, electrical and electronics, automotive and aerospace, chemicals, healthcare, and others. The food and beverage industry is estimated to be the largest end-user category in the market in 2018. This is primarily due to the strict government regulations towards marking information on the food and beverage products. In addition, growing consumer awareness towards the manufacturing and expiry date of the product, and information related to ingredients, thus increasing the demand for coding and marking systems in the food and beverages industry.
Geographically, China is the largest coding and marking systems market as the country is home to a large retail base, manufacturing hub, and growing food and beverage industries, and also the huge investment is witnessing in these industries. India is observed to witness significant growth in the market during the forecast period. Significant growth in the packaging industry (due to the easy availability of raw materials), plays a major role in driving the growth of the Indian coding and marking systems market.
Some of the major players operating in the Asia-Pacific coding and marking systems market are Danaher Corporation, Dover Corporation, Domino Printing Sciences plc, KGK Marking Technologies Group, Linx Printing Technologies, Control Print Limited, Hitachi Ltd., Matthews International Corporation, and ATD Marking Systems.
Asia-Pacific Coding and Marking Systems Market Coverage
Technology Insight and Forecast 2014-2024
End User Insight and Forecast 2014-2024
Coding and Marking Systems Market by Country