Why will Sales of Coding and Marking Systems Shoot Up in Asia-Pacific in Coming Years?

The increasing usage of coding and marking systems in the pharmaceutical, cosmetic, and food & beverage industries is the primary factor augmenting their sales all over the world. Out of these industries, the requirement for coding and marking systems is currently the highest in the food & beverage industry. Because of this factor, the food & beverage industry is holding the largest share in the coding and marking systems market.

As these systems are used in various food and beverage packaging applications, the mushrooming sales of dairy products, bottled water, and packaged food items are positively impacting their demand. Similarly, the ballooning requirement for pharmaceutical packaging, on account of the growing awareness among the pharmaceutical companies about the various benefits of mentioning drug information on the package and the soaring popularity of special packaging and blister packaging, is propelling the demand for coding and marking systems across the world.

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Globally, the coding and marking systems market would exhibit the highest CAGR in the Asia-Pacific (APAC) region in the forthcoming years, as per the estimates of P&S Intelligence, a market research company based in India. This would be a result of the implementation of stringent government regulations and policies, the soaring export of various packaged food products, and the growing incidence of piracy and counterfeiting in several industries in the regional countries.

Hence, it can be safely concluded that the market will record substantial growth all over the world in the upcoming years, mainly because of the rising requirement for marking and coding systems in the packaging, pharmaceutical, and automotive industries and the growing incidence of counterfeiting around the world. 

Partnerships and Acquisitions Creating Growth Opportunities for Players

Players in the coding and marking systems market are creating growth opportunities by engaging in partnerships and acquisitions.

• ·         In August 2020, Domino Printing Sciences plc acquired Lake Image Systems, which offers automated, vision-based inspection systems for data verification and quality control. The former company took this measure to enhance its portfolio of coding and marking hardware and software.
• ·         In September 2019, Solaris Laser S.A. and ATD Marking Systems began a partnership for expanding their industry presence in Ireland and the U.K.

The major operational companies in the global coding and marking systems market are ATD Ltd., Danaher Corporation, Inkjet Inc., ID Technology LLC, Dover Corporation, Hitachi Ltd., Matthews International Corporation, Diagraph Group, Overprint Packaging Ltd., and Domino Printing Sciences plc.

Read More: https://www.psmarketresearch.com/market-analysis/coding-and-marking-market