Technavio ’s latest market research report on the global food and beverage coding and marking equipment market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022.
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Technavio has published a new market research report on the global food and beverage coding and marking equipment market from 2018-2022. (Graphic: Business Wire)
According to Technavio market research analysts, the global food and beverage coding and marking equipment market will grow at a CAGR of close to 8% during the forecast period. The increased demand for product differentiation and brand protection to prevent counterfeiting is a major factor driving the market’s growth.
In the global food and beverage industry, counterfeiting or the illegal production of branded products poses a challenge to various multinational brands in the market. Counterfeiting is a serious and cost-intensive issue for food and beverage manufacturers as it reduces the profits of manufacturers and damages their brand image. Moreover, counterfeiting adversely affects manufacturers, resulting in the loss of customer retention. Identifying counterfeit products is a major challenge for the food and beverage companies.
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In this report, Technavio highlights the advances in 3D printing in additive manufacturing as one of the key emerging trends in the global food and beverage coding and marking equipment market:
Advances in 3D printing in additive manufacturing
Three-dimensional (3D) printing or three-dimensional printing is a method in which various materials are solidified from a digital file under the computer control for creating a three-dimensional object. In 3D printing, instead of using ink as a printing medium, melted plastic is used as it solidifies instantly. Complex coding and markings are difficult to produce using traditional machining and casting methods.
“New technology is designed to develop 3D printing to enhance the prevention against counterfeiting of products. For example, through the combination of a direct metal laser sintering process machine and 3D computer-aided design machine, 3D printing design is developed for metal additive manufacturing,” says a senior analyst at Technavio for research on tags and labels.
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Global food and beverage coding and marking equipment market - segmentation analysis
This market research report segments the global food and beverage coding and marking equipment market into the following technology types (CIJ, Laser, TTO, PALM, PIJ, TIJ, and VIJ), packaging codes (primary packaging code and secondary packaging code), and key regions (the Americas, APAC, and EMEA).
The primary packaging code segment held the largest market share in 2017, accounting for nearly 77% of the market. The market share for this packaging code is expected to decrease by 2022. The fastest growing packaging code is secondary packaging code, which will account for nearly 24% of the total market share by 2022.
EMEA was the leading region for the global food and beverage coding and marking equipment market in 2017, accounting for a market share of nearly 41%. By 2022, APAC is expected to register the highest growth rate.
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