Market Research Report
Food and Beverages (F&B) Coding and Marking Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
|Published by||IMARC Services Private Limited||Product code||821295|
|Published||Content info||115 Pages
Delivery time: 2-3 business days
|Food and Beverages (F&B) Coding and Marking Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024|
|Published: April 8, 2019||Content info: 115 Pages||
The global food and beverages (F&B) coding and marking equipment market reached a value of US$ 1.7 Billion in 2018. In the food and beverage industry, coding and marking equipment are used for providing product-specific information. Common marking and coding formats include barcodes, QR codes and 2D codes, and include information about the product's price, manufacturing date, batch number, expiry date, shelf life, ingredients and industry certifications. Marking and coding can help in improving supply chain traceability and visibility of products. They also assist in building and maintaining brand image by assuring consumers of the authenticity and freshness of a product. Nowadays, vendors are utilizing marking and coding for tracking consumer habits and creating tailored marketing programs.
In recent years, the increasing number of counterfeit products has encouraged the governments of various nations to implement stringent regulations mandating F&B manufacturers to print detailed product information on the packaging. These regulations have created a positive impact on the demand for up-to-date coding and marking equipment in the industry. Moreover, a rise in health and safety concerns has encouraged consumers to look for products with regulatory certificates and traceability tags. Apart from this, the global F&B coding and marking equipment market has witnessed a series of technological advancements which have maximized efficiency and flexibility. For instance, manufacturers are introducing printers that recycle any unused ink to reduce waste and production costs. They are also developing equipment with lower replacement requirements to reduce downtime. On account of these factors, the market value is projected to exceed US$ 2.3 Billion by 2024, at a CAGR of 5.3% during 2019-2024.
Primary packaging coding currently accounts for the highest share.
Continuous inkjet currently represents the biggest segment.
The global food and beverages (F&B) coding and marking equipment market consists of numerous small and large manufacturers. Some of the leading players operating in the market are: