1,Coding and marking systems provide product related details on the packaging such as batch number, price, manufacturing and expiry date and other related information to the end-use. The global coding and marking market covers smooth logistics process where goods can be easily tracked from the manufacturing unit to the retail outlets. Coding and marking play an important role in packaging and logistics industry for food and beverages, pharmaceuticals, chemicals, electronics and other major industries.

2,The global coding and marking market is expected to witness a CAGR of 9.4% during the forecast period, to reach $5,310.5 million by 2023. Coding and marking for food and beverages is expected to dominate the market during the forecast period. Continuous inkjet printer has been the largest contributor in the market and is expected to grow at a highest CAGR during the forecast period. Asia-Pacific and Europe collectively accounted for more than 70% in the global coding and marking market in 2016, owing to rising demand from the food and beverage, pharmaceutical and cosmetic industries. These industries capture the major market due to high demand at the customers' end. The change in the lifestyle is directly impacting the buying decisions of the customers.

3,Asia-Pacific is expected to contribute to the growth of coding and marking market due to stringent government regulation for coding and marking in the packaging industry worldwide and growing demand for packaged food and beverages in countries such as China and India. According to different packaging associations, appropriate electronic or electromechanical equipment should be used while performing the coding and marking process. The batch and code number along with the date of manufacturing should be clearly printed on the packing. This practice is strictly followed in the food and beverage industry, pharmaceutical industry and the labeling of agricultural products. Implementation of such stringent norms are likely to drive the market during the forecast period.

4,Globalization has raised the exports and import of coding and marking machines worldwide. Globalization in the packaging industry has benefitted all the stakeholders of the supply chain. Major players are shifting their manufacturing base to different countries to expand their presence globally. Globalization made possible exchange of advance coding technology from one country to another, which has supported the growth in the coding and marking market.

5,Additionally, large number of international players are investing in developing countries such as Brazil, India and China due to growing demand of packaged food and beverages in these regions. Moreover, the environment-friendly marking systems is a major trend in the market. Different patents have been developed for biodegradable resin-based marking devices. The usage of environment-friendly printing techniques is being used to reduce the impact on the environment. Additionally, there have been growing investments in the research and development (R&D) expansion in the global coding and marking market by major players in recent years to improve the performance and output. Major players such as Danaher Corporation, Hitachi Industrial Equipment Systems Co., Ltd., Illinois Tool Works, Inc., and Domino Printing Sciences have been investing in R&D, for increasing the durability of the ink and come up with technically-advanced coding and marking machines.

6,The rising demand from the food and beverage, pharmaceutical and cosmetic industries are one of the primary factors driving the market. These industries capture major market mainly due to high demand at the customers' end. The change in the lifestyle is directly impacting the buying decisions of the customers. For the packaging industry, trends such as rising sales of packaged food, bottled water, fruit juice and milk drink have driven the global packaging and coding and marking market. The growing demand of the pharmaceutical packaging industry is supported by increasing demand for blister packaging and technological advancements. Additionally, technological advancement in the coding and marking equipment is driving the coding and marking market. The technically-advanced products are likely to attract manufacturing and packaging companies thus fueling growth in the coding and marking market. Usage of digital printing is the need of the hour, which is replacing the traditional printing solutions