This research report presents an insightful analysis of the market shares for coding equipment in use in the F&B sector according to CIJ technology, laser technology, TTO technology, PALM technology, PIJ technology, TIJ technology, and VIJ technology. The report includes geographical segmentation detailing the market shares of Europe, APAC, North America, MEA, and Latin America.
Technavio has released a new market research report on the food and beverage coding and marking equipment which is expected to grow at a CAGR of around 6% between 2015 and 2019. Stringent government regulations and standards are driving the use of barcodes on products. APAC is expected to dominate the market during the forecast period, thanks to growing number of packaging and retail industries in the region. Moreover, factors such as increased purchasing power rapid population growth have increased the demand for F&B coding and marking equipment in the region.
“Coding and marking helps enterprises in product traceability and point-of-origin certificates for the food products throughout the production process and distribution network. Several recent technologies such as infrared, RFID, biometrics, and sensors are being used to read and collect data from the codes provided on the packaging of the product. This helps companies to provide reliable products and services to consumers, besides maintaining brand equity and customer loyalty,” says Sriram Mohan, Lead Analyst, Transport & Logistics, Technavio Research.
Governments across the world have introduced stringent regulations on the printing of product-specific data on products and packaged goods. This has necessitated F&B vendors to use barcodes compulsorily on the product packages. The product specifications include date of manufacture, manufacturing lot number, date of expiry, date of packaging, and other information about the product. These guidelines have facilitated end-users to identify authentic products and reject counterfeit products in the market.
The leading vendors in the global F&B coding and marking equipment market are Danaher, Diagraph, Domino, Hitachi and ID Technology. This market is characterized by the presence of diversified international and regional vendors. Several new vendors are offering coding and marking equipment at a low price.
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